(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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WANdisco PLC - Sheffield-based data-management software company - Revenue for 2020 falls to USD10.5 million from USD16.2 million in 2019, with pretax loss widening to USD35.8 million from USD29.1 million. Fall in revenue in 2020 reflects ongoing chain in revenue mix between legacy business and its big data business, as well as an increasing shift to cloud-based revenues with recurring annual revenues, away from perpetual, on-premises based revenue. Says it achieved primary strategic goal of launching LiveData Platform for Microsoft Azure in 2020. Expects minimum revenue of USD35 million in 2021. "In FY21, the business is focused on accelerating the conversion of the 200-300 exabyte cloud migration market identified by Microsoft by continuing to expand our partner relationships and delivering on our pipeline. WANdisco enters FY21 with an unparalleled solution, deeply embedded into the world's largest cloud ecosystems and with the experience and financial platform to convert on a vast market opportunity," says Chief Executive & Chair David Richards.
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Smiths News PLC - Swindon, England-based newspaper and magazine wholesaler - Revenue for half-year ended February 27 falls 12% to GBP551.6 million from GBP623.1 million a year before, but pretax profit jumps to GBP16.0 million from GBP6.7 million. Says profit performance helped after taking impairments in prior year period. Adjusted pretax profit down 12% to GBP14.4 million. Company deems performance "resilient" and it expects to reintroduce dividends later in second half of current financial year. "Despite the further lockdowns we have secured material efficiencies that will bring continuing benefits as restrictions are eased. We are therefore confident in the ongoing performance of the business and of returning to the payment of a dividend later in the financial year," says Chief Executive Jonathan Bunting.
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Cambria Automobiles PLC - franchised motor retailer - Revenue for six months to end of February falls to GBP254.7 million from GBP303.1 million a year ago, but pretax profit rises to GBP9.7 million from GBP6.1 million. Administrative expenses fall to GBP21.9 million from GBP29.6 million. Notes that during the half, all its showrooms were closed for 82 days due to lockdown restrictions, with the majority closed for a further 16 days as they operated in Tier 4 restricted regions. All showrooms were able to re-open on April 12. "The new car order bank entering March was behind the previous year, however despite being in Lockdown throughout this key plate change month, the Group delivered a similar number of new cars year on year. The used car operation performed well. Following the re-opening of the Group's showrooms on 12 April, trading has begun positively however it remains too early to draw any firm conclusions about the trading outlook at this stage," company says. Adds it will continue to withhold guidance until there is more certainty.
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Phoenix Copper Ltd - US-focused base and precious metal emerging producer and exploration company - Reports pretax loss of USD971,850 for 2020, slimming from USD1.1 million in 2019 as administrative expenses fall. Says well-financed due to recent equity fund raising. "With the successful rollout of vaccination programs, the global interest in electrification and green metals, and what appears to be the signs of a return to "normal", Phoenix is well positioned in terms of timing to transition seamlessly into development," firm says.
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Schroder Oriental Income Fund Ltd - Asia Pacific-focused investor - Reports net asset value per share total return of 20.6% for six months to February-end, outperforming the MSCI AC Pacific ex Japan index return of 16.7%. Net asset value per share at end of February 281.78 pence, up from 232.32p at end of February year ago and 239.28p at August 31, 2020. "The increased expectations for a global recovery benefited the trust as it saw earnings revisions broaden out from a narrow set of growth names, many of which pay little in the way of dividend (including the Chinese internet names)," it says.
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Andrews Sykes Group PLC - Wolverhampton-based heating and cooling rental company - Revenue for 2020 falls to GBP67.3 million from GBP77.2 million in 2019, with pretax profit declining to GBP15.8 million from GBP18.6 million. Says fall in revenue and profit reflects "much lower level" of trading across all its business due to the pandemic. "The fourth quarter of 2020 was particularly challenging due to the combination of severe Covid-19 restrictions being imposed by the governments in the UK and Europe and a relatively mild winter in the UK," it says. Says trading continues to be resilient. Proposes final dividend of 11.50p, up from 10.50p the year before. During 2020, GBP19.4 million in dividends returned to shareholders, up from GBP10.0 million in 2019.
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By Lucy Heming;Â lucyheming@alliancenews.com
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