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Pin to quick picksAukett Swanke Share News (AUK)

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TRADING UPDATES: EKF Diagnostics swings to loss as revenue drops

Tue, 28th Mar 2023 14:39

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Aukett Swanke Group PLC - professional services firm that mainly provides architectural and interior design services - Pretax loss in financial year that ended September 30 widens to GBP1.8 million from GBP595,000 a year ago. Revenue declines 9.1% to GBP24.0 million from GBP26.4 million. Looking ahead, says UK architecture businesses and German investments are high quality operations with strong brands. Anticipates further growth in UK architecture business.

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Condor Gold PLC - gold exploration company with operations focusing on Nicaragua - Pretax loss widens to GBP2.5 million in 2022 from GBP2.3 million in 2021. Hails sales process, which it says is entering the end of its first phase, with three formal expressions of interest, including two non-binding offers, received as of March 13. Chair Jim Mellon says: "Condor is at an important point in its history. It is very close to mining, with substantial proven reserves, and a carefully costed mining plan".

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EKF Diagnostics Holdings PLC - Cardiff-based diagnostics and central laboratory assay maker - Swings to pretax loss GBP8.9 million in 2022 from a profit of GBP21.4 million. Revenue falls 19% to GBP66.6 million, in line with market expectations, from GBP81.8 million. Looking ahead, Executive Chair Julian Baines says: "Cost reduction, restructuring and efficiency measures will further improve our performance in 2023 and onwards. The work to deliver these measures has already begun in earnest and the board remains confident that the performance of the business for the year remains in-line with management expectation, with EKF now well positioned for long-term sustainable growth."

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essensys PLC - London-based software and cloud services for flexible workspace industry - Pretax loss in the six months to January 31 widens to GBP7.7 million from GBP4.7 million a year ago. Revenue grows 18% to GBP12.9 million from GBP10.9 million. Administrative expenses increase 33% to GBP15.0 million from GBP11.2 million. Cost of sales increase 37% to GBP5.6 million from GBP4.1 million. Says trading in second half of financial 2023 in line with management's expectations. Expects to meet financial 2023 market forecasts and notes confidence in longer-term structural growth opportunity.

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Highcroft Investments PLC - England and Wales-focused real estate investor - Net asset value per share as at December 31 falls 15% to 1,081 pence from 1,275p a year prior, blaming high inflation, rises in interest rates and political instability. Swings to a pretax loss of GBP7.1 million in 2022, from a profit of GBP12.2 million. Looking ahead, says portfolio is well-positioned to deliver long-term secure returns for shareholders.

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Regional REIT Ltd - real estate investment trust - Portfolio value fell 12% on a like-for-like basis to GBP789.5 million at the end of 2022, from GBP906.1 million a year before. This was primarily due to macro-factors affecting the property sector, it says. Net asset value per share falls to 78.1 pence from 97.4p. More positively, net rental income increases 12% to GBP62.6 million in 2022. Dividend per share rises to 6.6p from 6.5p. Looking ahead, firm is confident of maintaining high rent collections and cites a momentum on asset management initiatives for the rest of 2023. Chair Kevin McGrath says: "The UK region's economic activity continues to strengthen, and companies continue to require office space in our identified growth areas. Regional REIT remains well positioned to meet the challenges and take the opportunities that will inevitably arise in the coming years."

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Technology Minerals PLC - London-based battery metals developer - Pretax loss for the six months to December 31 narrows to GBP692,000 from GBP1.1 million a year prior, as it has no initial public offering costs compared to GBP314,000 a year ago. Other figures broadly flat, with no revenue. Company touts advancement in exploration assets, with a focus on Ireland and Spain. "The aim remains to increase the value of each project through efficient, targeted exploration work in a capital-light manner, seek out partnerships to inject further capital as required, and creating additional value in the portfolio and for shareholders," Technology Minerals says.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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