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(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Base Resources Ltd - Australia-based, Africa-focused mineral sands producer - Pretax profit in the six months to December 31 jumps to USD64.8 million from USD29.1 million a year prior. Revenue climbs 21% to USD126.6 million from USD104.6 million. Company cites price improvements for all products and strong markets for mineral sands. Cost of sales decrease 18% to USD48.8 million from USD59.3 million. Lowers interim dividend by 33% to 2 Australian cents per share from 3 Australian cents per share a year ago. Anticipates Western pigment producers to increase production rate "back to normal levels through the second half of financial year 2023". Further, is optimistic on China after it eased its Covid restrictions last month.
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Beeks Financial Cloud Group PLC - Glasgow-based cloud computing and connectivity provider - Pretax loss in the half-year to December 31 widens to GBP762,000 from GBP266,000 a year prior. Revenue grows 35% to GBP10.4 million from GBP7.7 million. Cost of sales widens 24% to GBP6.2 million from GBP5.0 million. Administrative expenses increase 60% to GBP4.9 million from GBP3.1 million. Depreciation increases to GBP2.1 million from GBP1.5 million, as cost of share-based payments widen to GBP1.2 million from GBP414,000. Looking ahead, Chief Executive Officer Gordon McArthur said: "Our principal focus for the second half will be to convert our substantial pipeline of opportunities across the newly launched Exchange Cloud offering. While the macro environment presents challenges to all businesses, we believe the shift of the financial services sector to cloud computing will continue at pace."
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Global Invacom Group Ltd - Singapore-based satellite communications equipment and electronics provider - Annual loss in 2022 balloons to USD12.2 million from USD28,000 in 2021. Revenue falls 12% to USD72.8 million from USD82.5 million. Cost of sales widen 10% to USD59.4 million from USD66.0 million. Notes one-off impairment of goodwill of USD5.2 million for 2022. Global Invacom explained that it was non-cash in nature and related to the performance of its US subsidiary. Company expects "considerable macroeconomic headwinds" which impacted it in 2022 to continue in 2023. Looking ahead, Global Invacom said: "In order to establish long-term growth, and as part of its operational restructuring, Global Invacom remains committed to technological innovation and development. By working in collaboration with key customers, the group is well positioned to maintain its reputation of developing best-in-class solutions for the satellite industry."
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Oncimmune Holdings PLC - Nottingham-based immuno-diagnostics developer - In the 15 months to August 31, revenue was GBP3.8 million, little changed from GBP3.7 million in the year to May 31. Pretax loss widens to GBP11.6 million from GBP6.1 million across the same time frame. Administrative expenses widen 54% to GBP8.7 million from GBP5.7 million, as cost of sales more than doubles to GBP2.0 million from GBP865,000. However, says revenue in the first six months of financial 2023 is expected to exceed GBP3.8 million, and it expects to be operating cashflow positive during the year.
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Quartix Technologies PLC - Newtown, Wales-based vehicle tracking system provider - Pretax profit in 2022 climbs 2.4% to GBP5.5 million from GBP5.4 million a year ago. Revenue grows 7.9% to GBP27.5 million from GBP25.5 million. Proposes final dividend of 6.30p, down 10% from 7.00p a year ago. Total dividend for 2022 is 7.80p, 8.2% lower than 8.50p a year prior. Looking ahead, it says: "The group has made a strong start to the year, with new installations in January ahead of the same period in 2022; however the company notes that this may not extrapolate to Q1 year on year performance due to an exceptionally higher March 2022 performance." Quartix adds that intends to continue to invest a proportion of its gross profit on sales and marketing "to further develop the profitable subscription platform it has created by accelerating growth in its fleet subscription base."
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Spectral MD Holdings Ltd - Dallas, Texas-based predictive analytics company focused on algorithms and technology that allow for fast and more accurate treatment decisions - Pretax loss in 2022 narrows 31% to USD2.8 million from USD4.1 million in 2021. Research & Development revenue jumps 66% to USD25.4 million from USD15.2 million. Cost of revenue widens 77% to USD14.5 million from USD8.2 million. Looking ahead, the company plans to complete pre-submission to the US Food & Drug Administration to achieve alignment on the burn validation study protocol, regarding its Burn artificial intelligence training study. Regarding the UK, it adds it "is evaluating an accelerated UK regulatory submission pathway for 2023." Chief Executive Officer Wensheng Fan says: "Our immediate strategy remains focused on commercialization planning activities. We are in regular communication with Biomedical Advanced Research & Development Authority to further develop our infrastructure readiness for a federal level commercial contract and look forward to building upon our strong momentum, whilst continuing to collaborate with BARDA and our clinical partners to scale and advance our transformative technology." BARDA is a US Department of Health & Human Services office.
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By Tom Budszus, Alliance News reporter
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