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TRADING UPDATES: Annual profit increases for TClarke, STV and Somero

Wed, 09th Mar 2022 18:17

(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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TClarke PLC - London-based building services firm - For 2021, reports pretax profit at GBP7.8 million, surging from GBP1.2 million the year before, on revenue which grows 41% year-on-year to GBP327.1 million from GBP231.9 million, driven by a sharp growth from the company's Technologies segment on the offering of data centres amid sharp demand. Declares final dividend of 4.1 pence per share, bringing total payout to 4.85p, up 10% from 4.4p. Looking ahead, forward order book stands at record level of GBP534 million, up from GBP456 million. Order book is expected to translate into record revenue.

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Somero Enterprises Inc - Fort Myers, Florida-based concrete levelling equipment company - For 2021, pretax profit rises 81% to USD44.6 million from USD24.6 million the year before, on 51% growth in revenue year-on-year to a record USD133.3 million from USD88.6 million. This was due to growth in from all regions, with North America being the most significant contributor on strong residential construction activity in the US, and strong demand for new warehousing. Declares total ordinary dividend of USD0.31 per share, up 85% from USD0.16. Also declares supplementary payout of USD0.19. Looking ahead, expects 2022 to be a profitable year with healthy cash generation, and earnings before interest, tax, depreciation and amortisation to be comparable to 2021.

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Croma Security Solutions Group PLC - Hampshire, England-based security services provider - For the six months ended December 31, pretax profit rises 13% to GBP540,000 from GBP479,000 a year before, on revenue which grows 9.1% year-on-year to GBP17.9 million from GBP16.4 million, on continued demand demand for the company's security services. Declares no interim dividend, but company expects to declare final dividend. Looking ahead, trading in the second half has started well, and company expects to achieve a solid performance for the financial year.

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Oriole Resources PLC - London-based gold exploration company focused in Cameroon and Senegal - For 2021, Pretax loss widens to GBP1.6 million from GBP468,000 the year before, due to a revaluation of the Senala project to pound sterling from euros, leading to GBP571,000 in foreign exchange losses, as well as higher administrative costs.

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STV Group PLC - Glasgow-based television broadcaster - For 2021, pretax profit more than triples to GBP20.1 million from GBP6.7 million the year before, and is 10% above 2019 levels.This is on revenue which grows 35% year-on-year to GBP144.5 million from GBP107.1 million, and 17% above pre-virus levels. Revenue growth is due to continued momentum in Studios and a recovering advertising market. Declares final dividend of 7.3 pence per share, bringing the total payout to 11p, up 22% from 9.0p. Looking ahead, notes strongest ever content line-up in 2022 for TV and online, alongside strong advertising and revenue visibility. Also, STV announces an extended partnership with Tod Productions for a further three years, and has acquired a minority stake in Mighty Productions.

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ThinkSmart Ltd - Perth, Australia-based digital payments platform - For the six months ended December 31, swings to pretax loss of GBP51.6 million from profit of GBP53.7 million the same period a year before, due to a fair value loss on the valuation of a 10% stake in Clearpay, which was sold in exchange for 1.7 million Afterpay shares. Meanwhile, revenue declines 21% year-on-year to GBP1.9 million from GBP2.4 million. Looking ahead, company is well positioned to further benefit from further growth in the value of its interest in Block.

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Kier Group PLC - Sandy, Bedfordshire-based construction and infrastructure services - For the six months ended December 31, pretax profit rises 41% to GBP12.7 million from GBP9.0 million the same period a year before, despite a 5.4% decline in revenue to GBP1.48 billion from GBP1.62 billion due to procurement delays and project completion timing. The rise in profit meanwhile is due to management actions to reduce costs and increased property transactions. Order book stands at GBP8.0 billion.

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TT Electronics PLC - Woking, England-headquartered manufacturer of electronic components - For 2021, pretax profit hikes to GBP16.0 million from GBP2.9 million the year before, on revenue which grows 10% year-on-year GBP476.2 million from GBP431.8 million, and 14% on a constant currency basis, driven by a rebound in key market sales volumes. Declares final dividend of 3.8 pence per share, bringing the total payout of 5.6p, up 19% from 4.7p the prior year. Looking ahead, posts record order book into 2022, giving confidence of an annual performance in line with management expectations.

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JPMorgan Mid Cap Investment Trust PLC - investment firm - As at December 31, net asset value per share rises 22% year-on-year to 1,508.4 pence from 1,234.8p. For the six month period, net asset value total return is 5.5%, lagging behind its benchmark, the FTSE 250 index excluding investment trusts, which returned 5.7%.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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