(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Redde Northgate PLC - Darlington, England-based commercial vehicle hire business - Posts pretax profit for the financial year that ended April 30 of GBP67.2 million, up sharply from GBP13.5 million a year prior. Revenue rises 42% to GBP1.11 billion from GBP779.3 million. "Performance for the year was ahead of board expectations notwithstanding Covid-19, including strong momentum in [the second half] and into [financial 2022]," says Redde. Annual payout lifted 18% to 15.4 pence per share from 13.1 pence a year ago. "Over the first two months of [financial 2022] we have continued to see strong momentum building in the group including the delivery of the cost synergy target and significant run-rate revenue synergies," says Redde.
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Arena Events Group PLC - London-based bespoke turnkey temporary structure builder - Reports pretax loss for the year that ended March 31 of GBP12.8 million, narrowing from a loss of GBP23.0 million a year prior. This was off a sharp decline in cost of sales, which sunk to GBP44.6 million from GBP127.8 million, as well as a 51% decrease in administrative expenses to GBP36.8 million from GBP75.0 million. Revenue falls 60% to GBP71.6 million from GBP183.2 million. Does not declare any dividend in the year to save cash, compared to 0.25 p a year before. "We are cautiously optimistic about the pace of recovery in the live events industry, which has started later than we would have liked as Covid-19 restrictions have returned in some countries and remained in place in others longer than anticipated. Nevertheless, vaccine rollout is going well in all our major markets and therefore, we expect [financial 2022] to be a transitional year for the group," says Arena Events.
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AdEPT Technology Group PLC - information technology provider based in London - Swings to a pretax loss of GBP505,000 in the year that ended March 31 from a profit of GBP2.0 million the year prior. Revenue slips 6.1% to GBP57.9 million from GBP61.7 million. "While the pandemic temporarily interrupted the trajectory of our growth, the board is pleased with the progress achieved under challenging circumstances. Given our strategic focus on Cloud Centric Strategic Services, the organic growth of 9% in this aspect of our business is particularly pleasing," says Chief Executive Phil Race. Deems a dividend "inappropriate" given its use of the UK furlough scheme over the year. "The new financial year has started well, building on the momentum which returned in the last quarter of [financial 2021], with a number of new wins and overall a positive performance across the business," says AdEPT.
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Ten Entertainment Group PLC - Bedford, England-based family entertainment centres operator - Says all 46 centres across the UK reopened safely on May 17 with over 650,000 visits. Sees 23% like-for-like sales growth in the first six weeks of opening compared to 2019. Returns to profit and cash generation. "The strong trading since reopening has been driven by several factors. Pent-up demand and foreign travel restrictions have helped contribute to the growth. Longer term factors such as a digitally-enabled marketing strategy; a strong focus on customer experience; our much-loved range of entertainment; and a great value pricing model have been an essential part of this growth, and will continue to be so for the rest of the year," Ten says.
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Circle Property PLC - London-based buyer, developer and manager of regional office assets in UK - Swings to pretax loss of GBP2.7 million in the year that ended March 31 from a profit of GBP5.2 million the year before. Worsened results due to swings to loss on revaluation of investment properties of GBP6.2 million from gain of GBP2.5 million the year before. Total income rises 3.1% to GBP9.9 million from GBP9.6 million."Our focused strategy of concentrating on our regional office assets has proven to be resilient in the challenging pandemic year. We have not been complacent and have actively managed our assets to make them fit for the new office world with well designed, flexible workspaces," says CEO John Arnold. Total annual payout increased to 6.5 pence per share from 5.3p a year before. "We believe that although office working patterns may alter in the future, there still remains a strong demand, both professional and social, for office locations. This is particularly the case in regional locations where tenants can drive to work and are not reliant on using public transport. We are therefore cautiously optimistic as we head into [the third quarter of] 2021," says Arnold.
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Sabien Technology Group PLC - London-based energy saving technology - Says it has made "considerable progress within its strategic development". Expects revenue of GBP970,000 for the year that ended June 30, more than doubled from GBP450,000 the year prior. Says it carries around GBP43,000 of open orders into financial 2022. Sabien's final results are expected to be published by the end of August 2021.
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Advanced Medical Solutions Group PLC - Winsford, Cheshire-based surgical and advanced wound care specialist company - Trading in its first half to end June "continued to recover in line with expectations despite ongoing Covid-19 challenges". Says markets continue to rebuild towards more routine levels of elective surgery. Expects to announce its interim results on September 15. Expects interim revenue of around GBP50 million, up from GBP39.3 million a year prior. Adjusted pretax profit is expected to be around GBP12 million, up sharply from GBP5.3 million a year before. "The group expects to continue to trade in line with the board's expectations in the second half of 2021 as elective surgery and accident and emergency volumes continue to trend back towards historical levels."
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Brave Bison Group PLC - London-based social media and marketing - Expects to exceed current market expectations for the full year. Sees revenue for first half to June 30 of no less than GBP7.3 million, with a rise of at least 33% from GBP5.5 million a year prior. Adjusted earnings before interest, tax, depreciation and amortisation is seen over GBP500,000, swinging from a loss of GBP400,000. Results for the half are due on or before August 16.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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