(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Personal Group Holdings PLC - Milton Keynes-based employee benefits and services provider - Revenue in first half of 2023 rises 34% to GBP46.4 million from GBP34.7 million the year before. Personal Group says this is largely down to "voucher re-sales through the benefits platform" totalling GBP24.6 million, up solidly from GBP13.8 million. Pretax profit surges to GBP1.6 million from GBP459,000. "Trading into Q3 has remained robust. The group is trading in line with management's expectations to date and this underpins the board's confidence in meeting market expectations for the full year," the firm added. Personal Group lifts its interim dividend by 10% to 5.85 pence per share from 5.3p.
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Parity Group PLC - London-based data and technology-focused professional services firm - In the six months to June 30, revenue decreases 16% to GBP17.6 million from GBP21.1 million a year prior. Parity's pretax loss widens to GBP649,000 from GBP82,000. Executive Chair Mark Braund says: "The team has completed the task of rebuilding the core recruitment business after years of underinvestment, to position Parity as a recruiter of strength in the UK's public sector, at a time when there are increasing headwinds affecting the broader recruitment market." Parity says its offering in UK's commercial private sector means it has been exposed to tough market conditions.
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Bidstack Group PLC - London-based in-game advertising firm - Revenue in the six months to June 30 largely unmoved at GBP2.0 million year-on-year. Pretax loss, however, widens to GBP5.3 million from GBP3.7 million. Administrative expenses surge 58% to GBP6.0 million from GBP3.8 million. Bidstack warns that revenue for 2023 will fall "significantly short of previous market expectations," although cost savings mean earnings before interest, tax, depreciation and amortisation "should be broadly in line". Bidstack says it has struck non-binding terms for a possible commercial pact with Virtual Sport Technology Ltd, a technology and media reseller to rights holders working primarily in the sports sector. Bidstack says it "would provide VST worldwide third party exclusivity to provide access to Bidstack's proprietary video game content management platform to rights-holders including sports leagues, teams and publishers for an initial term of three years with a further three year extension mutually available." VST will pay Bidstack a GBP1.5 million licence fee. Bidstack will offer some support services for a quarterly service fee of GBP45,000, and will gain a 70% revenue share. To save Bidstack costs, some personnel will transfer their employment to VST. Finally, Bidstack says Camila Franklin steps down as chief operating officer with immediate effect to "focus on other business ventures".
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Likewise Group PLC - Birmingham, England-based domestic and commercial floor coverings distributor - Sales in the six months to June increase 17% to GBP66.6 million from GBP56.8 million a year earlier. However, Likewise swings to a pretax loss of GBP490,029, from profit of GBP85,882 a year prior. Administrative expenses are 42% higher at GBP10.4 million. Likewise says it is on track to meet market expectations for the whole of 2023. It adds: "Further testimony of the group's progress is that August was a record month for sales revenue which provides confidence entering the traditionally busy autumn period."
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Distribution Finance Capital Holdings PLC - specialist bank providing working capital solutions to dealers and manufacturers across the UK - Revenue in six months to June 30 surges to GBP27.4 million from GBP10.5 million. Distribution Finance reports pretax profit of GBP3.2 million, improving markedly from its breakeven result a year prior. "It is pleasing to report the continued strong momentum within the bank. Reporting eight consecutive quarters of loan book growth and profitability during the period under review that outpaces the whole of 2022, truly demonstrates that our products and services resonate with our dealer and manufacturer customers," Chief Executive Carl D'Ammassa says. "Having the aggregate capital firepower to provide loans in excess of GBP800 million, provides the ability to support an attractive growth plan without the need for additional dilutive tier 1 equity. Notwithstanding the macro-economic outlook, we remain optimistic about our full year performance." Distribution Finance reported record first-half new lending of GBP607 million, up 38% from GBP439 million year-on-year. Its net interest margin rises to 7.5%, from 6.1% a year earlier, and topping the 6% target.
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Roebuck Food Group PLC - Newry, Northern Ireland-based protein and product sourcing company - Revenue in six months to June 30 increases 19% on-year to GBP14.9 million from GBP12.5 million. However, Roebuck swings to a pretax loss of GBP424,000 from profit of GBP243,000. Cost of sales rise 23% to GBP15.0 million from GBP12.2 million. Administrative expenses more than double to GBP397,000 from GBP153,000. Roebuck says it is mulling its options for the Sourcing division, in order to restore profit to "previous peak levels". Roebuck adds: "Our dairy operation, Cantwellscourt Farm Ltd, continues to perform well across key operating metrics. Notwithstanding a sharp decline in global dairy prices, the business is generating underlying profitability and cashflow for the group as a whole."
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By Eric Cunha, Alliance News news editor
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