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TRADING UPDATES: CT Automotive achieves record annual revenue

Thu, 19th May 2022 17:45

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

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CT Automotive Group PLC - Portsmouth, England-based maker of custom interiors for cars - For 2021, pretax loss narrows at USD7.4 million from USD9.7 million the year before, on revenue which grows 21% year-on-year to a record USD132.9 million from USD109.9 million, mainly through a recovery in global vehicle production in the first half, more than offsetting the bite from the semiconductor shortage in the second half, leading to a considerable slowdown in trading. Recommends no dividend for 2021. Looking ahead, remains confident of meeting expectations for 2022, with new business wins and a new plant being set up in Puebla, Mexico.

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Rotala PLC - bus operations at Heathrow airport and in West Midlands and North West - As at November 30, passenger numbers stand at between 80% and 85% of pre-Covid-19 levels, where they have remained in the current financial year to date. Expects passenger numbers to continue steady growth for the remainder of year. Continues to trade in line with budget, and for the year ending November 30, keeps guidance of breakeven result at normalised pretax profit.

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abrdn Equity Income Trust PLC - London-based trust investing in UK quoted companies of all sizes - For the six months ended March 31, net asset value total return is at 2.5%, underperforming against the FTSE All-Share Index, which returned 4.7%. As at March 31, net asset value per share dips 0.4% to 379.16 pence from 380.84p at the end of September.

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Begbies Traynor Group PLC - Manchester-based corporate rescue and recovery practice - For the year ended April 30, performance set to be ahead of market expectations and year before. Revenue on-track to to rise 30% to GBP109.5 million from GBP83.8 million the year before., while adjusted pretax profit on-track to rise 55% to GBP17.8 million from GBP11.5 million. Over the year, corporate insolvencies increase 50% to 16,648 from 11,134.

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Ecofin Global Utilities & Infrastructure Trust PLC - utility and infrastructure equity investment - For the six months ended March 31, net asset value total return is 13.7%, compared to the MSCI World Index which return 4.9%. Net asset value per share at March 31 increased 12% to 217.97p vs 195.11p at the end of September.

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Portmeirion Group PLC - Stoke-on-Trent, England-based pottery company - Sales in first four months of 2022 increase 2% against same period in 2021. Gross margins improve, however notes "significant change" to consumer sentiment and spending since last year. "So far we have successfully mitigated these challenges by forward-ordering stock and having long term energy contracts in place until March 2024. However, with a traditional heavy second half sales weighting, we remain cautious and watchful as to how macro conditions develop as the year progresses," firm says.

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Dialight PLC - London-based industrial LED lighting - Trades well in first four months of 2022 strong strong revenue growth combining volume and price, while order intake remained strong , as order books stay at elevated levels. Expectations for the year remain unchanged, however company remains mindful of ongoing supply chain issues.

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Idox PLC - Reading, England-based supplier of information management software for public and 'asset intensive' sectors - Reports robust performance in line with management expectations for the six months ended April 30, with revenue up 7% at GBP33 million, and adjusted earnings before interest, taxes, depreciation and amortisation up 8% at GBP11 million. Order intake is up 7% year-on-year.

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Headlam Group PLC - Birmingham-based floor coverings distributor - In the first four months of 2022, revenue in the first quarter was in line with plan, but performance is weaker in April due to overall softening in the residential sector and a delay in certain orders. Noted recovery in commercial sector from Covid-affected 2020 and 2021, while overall profit performance is above 2021, with strong margins continuing into 2022.

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Getech Group PLC - Leeds, England-based green hydrogen company - For 2021, pretax loss widens to GBP1.9 million from GBP1.6 million the year before due to higher costs, more than offsetting 20% year-on-year growth in revenue to GBP4.3 million from GBP3.6 million as a result of increased product sales. Company's orderbook grows 25% to GBP3.3 million at the end of December from GBP2.7 million. Looking ahead, sets target to establish at least 500 megawatts of new geoenergy and green hydrogen assets by 2030.

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Verici Dx PLC - Tennessee-based developer of clinical diagnostics for organ transplants - For 2021, pretax loss widens to USD8.3 million from USD4.7 million the year before, mainly due to a leap in administrative expenses from research & development and professional costs, as it continues to run tests and studies for its product portfolio.

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Bank of Cyprus Holdings PLC - Strovolos, Cyprus-headquartered financial services firm - For the first quarter of 2022, post total income of EUR146 million, up 7% from EUR136 million the same period a year before, leading to pretax profit of EUR33 million, a 76% lift from EUR19 million as a result of narrowed credit losses and higher income.

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Prospex Energy PLC - exploration investment company with core investments in Spain and Italy - For 2021, pretax profit stands at GBP2.3 million from a loss of GBP1.8 million the year before, mostly due to a gain on the revaluation if investments at GBP3.1 million, more than offsetting a widened loss at GBP805,072 from GBP725,050. Looking ahead, expects Selva to start production in the second quarter of 2023, while application progress starts for multi-well drilling at El Romeral, also expected for 2023.

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Atalaya Mining PLC - Cyprus-based copper producer - For the first quarter of 2022, earnings before interest, tax, depreciation and amortisation drops 44% to EUR26.7 million from EUR47.4 million the same period a year prior, on revenue which declines 11% to EUR86.2 million from EUR97.4 million. Copper production drops 18% to 11,461 tonnes, although average realised copper price increases 22% to USD4.42 per pound from USD3.62. Looking ahead, maintains 2022 guidance of 54,000 to 56,000 tonnes of copper output.

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Pharos Energy PLC - oil and gas exploration, development and production in Egypt, Vietnam and Israel - For the first four months of 2022, average working interest output stands at net 8,291 barrels of oil equivalent per day. Revenue was USD89 million. Looking ahead, for 2022 guides for Egypt output between 1,350 - 1,800 barrels per day, and for Vietnam 5,000 - 6,000 bopd.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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