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UK EARNINGS SUMMARY: LoopUp Swings To Profit On Work-From-Home Boost

Wed, 23rd Sep 2020 14:02

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

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LoopUp Group PLC - London-based cloud communications provider - Swings to pretax profit of GBP7.8 million for six months to June 30 from a GBP478,000 loss. Revenue surges 43% to GBP31.9 million. First half performance driven primarily by the large-scale migration towards working from home due to Covid-19. Enters second half with major new customer wins set to roll out, a healthy new business pipeline, and a strong balance sheet. Cash of GBP8.3 million and net debt of GBP5.3 million at June 30.

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Ten Entertainment Group PLC - Bedford, England-based bowling centre operator - Swings to a pretax loss of GBP7.0 million in 26 weeks ended June 28 from GBP5.9 million profit a year before. Revenue almost halves to GBP22.5 million from GBP41.4 million. Recovered quickly from lockdown as restrictions were eased. All centres now are fully open. Trading has begun well at 83% of previous levels. Confident to return the business to growth.

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Sigma Capital Group PLC - Manchester, England-based private rented sector specialist - Pretax profit dives 77% to GBP980,000 for six months to June 30 from GBP4.3 million a year ago. Results reflect the impact of coronavirus pandemic and national 'lockdown', which resulted in suspension of construction and lettings activities from late-March to mid-May as well as ongoing restrictions. Revenue falls 14% to GBP5.0 million from GBP5.8 million. Coronavirus crisis is estimated to have reduced activity levels by 40% in first half. Rental performance across all portfolios robust and demand for new homes remains strong, with rental prices steady at pre-pandemic levels. Dividend expected to be proposed with results for the nine-month financial period ending September 30.

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Staffline Group PLC - Nottingham, England-based recruitment and training group - Promotes Non-Executive Director Albert Ellis to chief executive officer role, effective from the start of October. Executive Chair Ian Lawson to move to non-executive chair role on December 31. Posts widened pretax loss of GBP47.7 million for the six months to June 30 versus a GBP12.3 million loss in the prior year period. Revenue falls 17% to GBP434.9 million. Records non-cash impairment charge of GBP35.3 million and amortisation of intangibles of GBP4.8 million. Taking actions to alleviate the probable liquidity pressures in March 2021. Expects to perform in line with expectations for 2020 despite a challenging environment. On track to achieve a positive result for 2020 on an underlying operating profit basis across all three divisions.

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Xeros Technology Group PLC - Rotherham, South Yorkshire-based laundry and garment technology group - Pretax loss for the six months to June 30 narrows year-on-year to GBP3.5 million from GBP8.2 million as administrative cost cut by more than half, but revenue dives to GBP215,000 from GBP1.2 million. To consolidate shares to reduce number of shares in issue. Cash of GBP6.2 million at August 31 and cash burn rate down to less than GBP500,000 per month.

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Anglo Asian Mining PLC - gold, copper and silver producer in Azerbaijan - Pretax profit for six months to June 30 rises 15% year-on-year to USD11.8 million from USD10.3 million. Revenue rises 6% to USD45.8 million from USD43.3 million a year before. First half production falls year-on-year to 32,501 gold equivalent ounces from 39,905 ounces. Gold bullion sales 23,979 ounces, down from 26,589 ounces. Total 2020 production target maintained at between 75,000 and 80,000 gold equivalent ounces. Declares interim dividend of 4.5 US cents per share. To consider special dividend in first-quarter of 2021. Cash of USD29.2 million and no debt at June 30.

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Reabold Resources PLC - oil and gas investor focused on the UK, US and Romania - Pretax loss for the six months to June 30 narrows to GBP138,000 from GBP685,000 a year ago. Revenue rises 46% to GBP570,000 from GBP390,000. Cash and cash equivalents as at June 30 GBP5.5 million. Looks forward to an exciting 2020 and beyond.

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Dillistone Group PLC - Basingstoke, England-based recruitment software provider - Pretax loss for six months to June 30 narrows to GBP110,000 from GBP397,000 a year ago. Revenue declines 20% to GBP3.4 million from GBP4.2 million. Management of cost base and better operational performance led to a narrowed first half loss. Covid-19 will continue to impact revenue. Non-Executive Director Mike Love to retire from the board, in line with long-term plan. Cash balances of GBP1.7 million at June 30.

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Equals Group PLC - London-based payments group - Pretax loss for the six months to June 30 widens year-on-year to GBP3.3 million from GBP178,223. Revenue edges up to GBP13.8 million from GBP13.6 million. Cash GBP7.6 million as of Friday last week. Positive about future prospects and confident about the outlook for the group.

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Warpaint London PLC - Buckinghamshire, England-based colour cosmetics business - Sales reduced 29% to GBP13.5 million in the six months to June 30 from GBP18.9 million as a result of the Covid-19 restrictions in the UK and internationally. First half pretax loss widens year-on-year to GBP1.5 million from GBP210,000 on increased costs. Resumes dividend payments. Declares interim dividend of 2.8 pence per share and one-off additional 1.3p payout. Sales for second half recover after the Covid-19 lockdown. Predicts sales for 2020 of GBP37 million, which should generate adjusted profit from operations in excess of GBP2.0 million.

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Cloudcall Group PLC - cloud-based software business based in Leicester - Pretax loss for the six months to June 30 widens year-on-year to GBP2.6 million from GBP1.8 million. Revenue rises 11% to GBP5.8 million from GBP5.2 million. New sales bookings recovering after initial Covid-19 impact. Resilient trading continuing into second half, with performance since the end of the period in line with management expectations.

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Mission Group PLC - London-based marketing group - Swings to a pretax loss of GBP1.8 million for the six months to June 30 from GBP2.7 million profit. Turnover dives to GBP58.1 million from GBP82.3 million. Net debt reduced to GBP900,000 at June 30 from GBP5.1 million at December 31. Second half of the financial year has started well under the current trading circumstances, with the impact of COVID-19 on revenue easing. Expectations to report a profit for 2020 remain unchanged.

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Mobile Tornado Group PLC - Harrogate, North Yorkshire-based communications company - Pretax loss for six months to June 30 widens year-on-year to GBP835,000 from GBP691,000. Revenue falls 13% to GBP1.3 million from GBP1.5 million. Recurring revenue stream stable despite the highly uncertain global economic environment. Net debt of GBP8.2 million and cash of GBP450,000 at June 30.

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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Pretax loss for six months to June-end widens year-on-year to GBP10.5 million from GBP9.3 million a year ago. Revenue plummets 69% to GBP2.4 million from GBP7.7 million. Strong balance sheet with cash and cash equivalents of GBP70.6 million at June 30. Sees limited long-term impact of Covid-19 on business.

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Allergy Therapeutics PLC - Worthing, West Sussex-based biotechnology company - Pretax profit for the financial year that ended June 30 nearly doubles to GBP8.1 million from GBP4.3 million due to lower research and development costs and revenue rise. Revenue up 6% to GBP78.2 million from GBP73.7 million. Outlook for financial 2021 hard to predict accurately due to Covid-19. Sales for financial 2021 expected to grow at a similar rate to 2020 due to the anticipated reduction of new patients. Research and development expenses anticipated to be 70% higher than in 2020 as research continues with Grass MATA MPL and peanut allergy candidate vaccine. Cash balance of GBP37.0 million at June 30.

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Trackwise Designs PLC - Gloucestershire, England-base printed circuit technology group - Swings to pretax profit of GBP788,000 for the six months to June 30 from GBP87,000 loss a year before. Revenue rises 54% to GBP2.4 million from GBP1.5 million. Trading performance impacted by Covid-19. Annual performance will reflect the difficult economic trading conditions, a EV manufacturing contract win, and progress in two other core target markets, medical and aerospace. Net cash of GBP1.6 million at June-end.

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Strix Group PLC - Isle of Man-based kettle safety controls manufacturer - Pretax profit for six months to June-end broadly flat at GBP7.5 million. Revenue falls 21% to GBP34.7 million. Administrative expenses decline to GBP3.9 million from GBP6.2 million. Sees record sales in third-quarter based on replenishment of pipeline stock and the normal seasonal uplift. Maintains interim dividend payment of 2.6 pence per share. Committed to delivering a full year dividend of 7.7p, in line with 2019.

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ECSC Group PLC - Bradford, West Yorkshire-based cyber security services provider - Pretax loss for six months to June 30 narrows to GBP340,000 from GBP558,000 a year ago. Revenue broadly flat at GBP2.6 million. Adjusted earnings before interest, tax, depreciation and amortisation of GBP52,000 versus GBP184,000 loss. Maintaining breakeven adjusted Ebitda position throughout Covid-19 crisis. Cash of GBP1.3 million at June 30.

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Aseana Properties Ltd - property developer with investments in Malaysia and Vietnam - Pretax loss for six months to June-end widens year-on-year to USD8.2 million from USD5.2 million. No revenue versus GBP5.7 million a year before. Net asset value USD0.50 per share at June 30 versus USD0.55 at December 31. First half results are reflective of the challenging market conditions resulting from Covid-19 and the actions taken by governments to contain the spread of the coronavirus.

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By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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UK earnings, trading statements calendar - next 7 days

Thursday 9 May 
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Harbour Energy PLCTrading Statement
IMI PLCTrading Statement
ITV PLCTrading Statement
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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TRADING UPDATES: ActiveOps sales up; Sancus turnover jumps

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

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1 Mar 2024 14:06

Creo device used in 'groundbreaking' lung cancer procedure

(Sharecast News) - Creo Medical Group announced a significant milestone in the field of minimally-invasive surgical endoscopy for cancer patients on Friday, with its 'MicroBlate Flex' device.

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1 Mar 2024 13:34

EARNINGS AND TRADING: Dar Global celebrates "outstanding" year

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

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7 Feb 2024 11:49

Creo Medical FY revenues up double digits

(Sharecast News) - Medical device company Creo Medical said on Wednesday that 2023 was "a pivotal year" for the firm, with new products supporting "strong growth" and leading to a double-digit jump in group revenues.

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7 Feb 2024 10:54

Creo Medical makes "considerable strides" toward 2025 break-even goal

(Alliance News) - Creo Medical Group PLC on Wednesday said that cost controls and new product sales had supported strong growth in 2023, as the company said it is on track to achieve cash flow break-even by 2025.

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5 Feb 2024 12:11

IN BRIEF: Creo Medical partners with Khalifa University in Abu Dhabi

Creo Medical Group PLC - Chepstow, Wales-based medical device company focused on surgical endoscopy - Will collaborate with Khalifa University of Science & Technology in Abu Dhabi. Says partnership has an initial focus on healthcare challenges relevant to the population in the United Arab Emirates, as well as the wider Middle East and North Africa region. Chief Executive Officer Craig Gulliford says: "As part of our strategy, we are driven to exploit our IP either directly or in partnership with third-parties, as shown by our robotic assisted surgery collaborations. Khalifa University is a research-intensive organisation with a similar drive to develop and commercially exploit leading technologies, at scale and on a global basis. The combination of Creo's people, technology and IP with Khalifa University's teams, technologies, facilities and resources represents a great opportunity for both organisations to advance and commercialise incremental technology and products and enhance research profiles internationally."

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31 Jan 2024 18:15

TRADING UPDATES: Creo unveils product in APAC; Unilever hires director

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

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10 Jan 2024 12:32

Creo Medical's Speedboat UlstraSlim device used in Latin America

(Alliance News) - Creo Medical Group PLC on Wednesday said its Speedboat UltraSlim device has been used successfully in Latin America for the first time.

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15 Dec 2023 14:17

IN BRIEF: Creo Medical's SpeedBoat UltraSlim successfully used in US

Creo Medical Group PLC - Chepstow, Wales-based medical device company focused on surgical endoscopy - Says SpeedBoat UltraSlim device has been successfully used in the US across multiple clinical applications. SpeedBoat UltraSlim is third brand in its Speedboat family of devices alongside Speedboat Inject and offers a number of different features.This primarily includes the reduced size in comparison with the Speedboat Inject, Creo Medical said, making the device compatible with all endoscopes with a 2.8 millimetre working channel or larger.

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13 Dec 2023 21:14

TRADING UPDATES: Good Energy says ZapMap expands into mainland Europe

(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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13 Dec 2023 14:28

Creo launches 'Speedboat Ultraslim' with first UK procedure

(Sharecast News) - Creo Medical Group announced a significant milestone for its Speedboat UltraSlim medical device in the field of surgical endoscopy on Wednesday.

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1 Nov 2023 14:28

Creo Medical gets US FDA clearance for Speedboat UltraSlim

(Sharecast News) - Medical device company Creo Medical Group announced on Wednesday that it has received 510(k) clearance from the US Food and Drug Administration (FDA) for its Speedboat UltraSlim device.

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25 Oct 2023 13:44

Creo Medical accelerating EU launch of Speedboat UltraSlim

(Sharecast News) - Creo Medical Group announced the acceleration of its EU launch of the 'Speedboat UltraSlim' device by around 18 months on Wednesday.

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