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(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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MJ Gleeson PLC - Sheffield-based low-cost housebuilder and land promoter - Pretax profit falls 29% to GBP30.5 million in financial year that ended June 30 from GBP42.6 million the year before, as revenue declines by 12% to GBP328.3 million from GBP373.4 million and administrative expenses rise 6.3% to GBP58.0 million from GBP54.5 million. Declares 9 pence final dividend, cutting the total dividend by 22% to 14.0 pence from 18.0p in response. Gleeson Homes was hurt by fluctuations in the UK mortgage market, but Gleeson says this is steadying now. Net reservation rate in the nine weeks to September 1 is 0.43 per site per week, down from 0.54 a year ago. Gleeson Land has started the new year in a better position with six consented sites and one completed sale. "We therefore view the current year with confidence, whilst remaining cautious around continuing risks in the wider economy and any further impact on customer demand," Gleeson says.
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Portmeirion Group PLC - Stoke-on-Trent, England-based maker of homeware brands including Portmeirion, Spode, Royal Worcester, and Wax Lyrical - Posts GBP100,000 pretax loss for first half of 2023, swung from GBP1.0 million profit a year before, as revenue slips 3.0% to GBP44.1 million from GBP45.5 million. Holds interim dividend unchanged at 3.50p. Says revenue decline is due to caution on ordering by US customers, as retailers destock. Says second half of the year has started in line with expectations, with a Christmas order book that is ahead of last year. Expects the Spode brand to benefit from new product development in its Christmas Tree range. Expects full-year sales and profit to be in line with current market expectations, which were lowered in July because of the US retailer destocking.
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Churchill China PLC - Stoke-On-Trent-based maker of ceramic products for hospitality markets - Lifts interim dividend by 4.8% to 11.0p from 10.5p. Pretax profit in the first half of 2023 rises 20% to GBP4.7 million from GBP3.9 million on revenue of GBP44.0 million, up 6.4% from GBP41.4 million. Says in "good position" to meet its profit expectations for all of 2023 after "healthy increase" seen in first half, amid strong demand.
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By Tom Waite, Alliance News editor
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