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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Engage XR Holdings PLC - Waterford City, Ireland-based virtual communications solutions - For the six months ended June 30, total revenue is expected to rise to EUR1.8 million from EUR1.3 million the same period a year before, with the winning of new customers for the software platform ENGAGE. Gross margin is expected to edge up to 81% from 80%.
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Revolution Bars Group PLC - Ashton-under-Lyne, England-based bar chain - Results for the year ended July 2 is expected to be in line with expectations, with like-for-like sales rising 1.3% in England despite Omicron-related disruption. LFL sales in Wales, Northern Ireland and Scotland rises 0.3%. Admits it is not immune to inflationary pressures, however energy prices will remain fixed until spring 2023. In addition, Christmas booking building up earlier than last year.
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SourceBio International PLC - Nottingham-based laboratory services provider - For the first half of 2022, adjusted earnings before interest, tax, depreciation and amortisation drops 81% to GBP2.1 million from GBP11.2 million, on total revenue which declined 45% to GBP20.5 million from GBP37.3 million due to a large reduction in Covid-19 PCR volumes. Looking ahead, company will focus on accelerating growth in its three core business units - Healthcare Diagnostics, Genomics and Stability Storage.
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Ascent Resources PLC - onshore Caribbean, Hispanic American and European-focused natural resources company - Will receive EUR1.7 million imminently amid the resolution of a dispute with joint venture partner Geoenergo. The figure relates to hydrocarbon revenues from the PG-10 and PG-11A wells for the period April 2020 through to June 2022.
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Global Invacom Group Ltd - Whitstable, Kent and Singapore-based satellite communications equipment and electronics firm - For the six months ended June 30, expects to report a net loss of USD3.3 million, widening from USD1.2 million, on revenue which declines 7.9% to USD37.2 million from USD40.4 million, due to the shortage of semiconductors, affecting its ability to satisfy existing orders and generate additional revenue.
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Revolution Beauty Group PLC - AIM-listed beauty products retailer - Performance has been hurt by cost inflation, supply chain issues and the war in Ukraine, and as a result for the six months ending August 31 expects low single digit revenue growth and an adjusted Lbitda. Revenue a year earlier amounted to GBP78.6 million and it had reported an adjusted Ebitda of GBP5.1 million. For the year ending February 28, 2023, the company now expects adjusted Ebitda between GBP18 million and GBP20 million, and net sales of between GBP215 million and GBP225 million. In addition, it now expects to report results for the year ended February 28 on August 30 as more time is needed to complete an audit.
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Love Hemp Group PLC - London-based cannabidiol products - For the year ended June 30, sales drop 16% to GBP3.6 million from GBP4.3 million, in line with management expectations, in spite of the pandemic, impact on prices from the ongoing geopolitical situation and delays in publishing the UK Novel foods product register. Looking ahead, expects organic growth from its Direct To Consumer and retail sales channels in its 2023 financial year.
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Biome Technologies PLC - Southampton-based plastic material and resin manufacturing company - Revenue for the second quarter ended June 30 falls short of management expectations at GBP1.4 million, up from GBP1.3 million, the same period a year prior. However, expected delayed revenue to be recovered during the third quarter.
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Mobius Investment Trust PLC - investment company - As at May 31, net asset value per share is down 12% at 135.2 pence from 153.4p at the end of November 2021. NAV total return for the six month period is minus 12%, while the share price as at May 31 is 127.5p, reflecting a 5.7% discount to net asst value.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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