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TRADING UPDATES: Empresaria profit up; Animalcare's Covid boost ebbs

Tue, 28th Mar 2023 13:30

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

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Empresaria Group PLC - Crawley, England-based specialist staffing company - Staffing firm says revenue rose 1.1% to GBP261.3 million in 2022 from GBP258.4 million in 2021. Pretax profit improves 27% to GBP7.6 million from GBP6.0 million. Proposes dividend of 1.4 pence per share, up 17% on-year. "The economic environment became more uncertain as 2022 progressed, with the post-Covid recovery giving way to inflationary and recessionary concerns. Although this uncertainty is expected to continue, we have proven our ability to successfully navigate difficult periods and take advantage of opportunities as they arise. We therefore look forward with cautious optimism," Empresaria adds.

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Animalcare Group PLC - York-based veterinary drugmaker - Revenue declines 3.3% to GBP71.6 million in 2022 from GBP74.0 million in 2021. Pretax profit surges to GBP2.5 million from GBP945,000 as impairment losses are reduced to GBP918,000 from GBP2.8 million. Explains revenue slip reflects moderation in demand post-pandemic. "Though the group fell short of its revenue expectations in 2022 due to a combination of moderating market demand and other more specific factors, we made positive progress on gross margins, helping us maintain our strong financial position, and with it our ability to invest in growth opportunities," Animalcare adds.

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Mission Group PLC - Devon, England-based owner of a group of digital marketing and communications agencies - Posts top-line growth of 19% to GBP182.7 million in 2022 from GBP153.3 million in 2021, but profit falls. Pretax profit slumps to GBP743,000 from GBP6.8 million. Posts goodwill and business impairment worth GBP5.3 million, against none in 2021. Says 2023 "has started well and in line with board's expectations".

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Journeo PLC - transport system services provider - Posts annual profit and revenue rise and reports new contract awards in Wales. In 2022, revenue increases 35% to GBP21.1 million from GBP15.6 million in 2021. Pretax profit more than doubles to GBP906,000 from GBP409,000. "2022 can be seen as a defining point in the development of Journeo. Over the course of the year our Fleet Systems business has grown strongly and increased adoption of our SaaS-based solutions to more than double the amount that we had at the close of 2021. This is providing the group with quality earnings and recurring revenue," Journeo says. In addition, company announces two contract awards totalling GBP1.6 million for passenger information systems in Wales. "The two contracts will see displays attached to the new Welsh bus data content management system which was recently awarded to Journeo," it explains.

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DigitalBox PLC - digital media and owner of brands such as Daily Mash, The Poke and The Tab - DigitalBox says revenue falls 2.4% to GBP3.6 million in 2022 from GBP3.7 million in 2021. Pretax profit tumbles to GBP45,000 from GBP627,000. "Trading for the current financial year remains in line with expectations with advertising markets expected to bounce back as we head into 2024," DigitalBox adds.

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Nanoco Group PLC - Manchester, England-based quantum dots manufacturer - Pretax loss in six months ended January 31 flat year-on-year at GBP2.3 million. Revenue improves 42% to GBP1.6 million from GBP1.1 million. "We are closer to commercial production than at any time in our 20-year history, with orders anticipated by the end of 2023. Our organic growth runway is now underpinned by a firm financial footing following the monetisation of the group's IP portfolio as a result of the outcome of the lawsuit," Chief Executive Officer Brian Tenner says. Nanoco in February had said it signed USD150 million settlement with Samsung Electronics Co for IP infringement. On Monday, Nanoco responded to group of shareholders that published a letter raising "serious corporate governance concerns". The investors called for the removal from the board of CEO Tenner, Chair Christopher Richards and Chief Financial Officer Liam Gray. "The directors of Nanoco have no intention of stepping down from the board and are confident that the board's actions and statements over the period of the Samsung litigation were in line with its corporate governance duties, obligations and standards," Nanoco said.

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Real Estate Investors PLC - real estate investment trust focused on English Midlands - EPRA net tangible assets per share grow to 62.2 pence at end of 2022 from 58.8p at end of 2021. Like-for-like valuation improves to GBP173.0 million from GBP169.8 million a year prior. Revenue falls 17% to GBP13.3 million from GBP16.0 million. Pretax profit falls 21% to GBP10.9 million from GBP13.9 million. Yearly dividend cut by 18% to 2.5 pence per share from 3.0625p. "We anticipate continued sales in 2023, with private investor appetite remaining strong in Q1 2023. Until clarity is available around interest rates, larger buyers will likely remain inactive. Sales to private investors are piecemeal and slow but nevertheless are value enhancing and worth pursuing. Receipts from these selective disposals will be used towards repaying further debt and reducing portfolio gearing, with a view to delivering on strategic objectives and narrowing the discount between share price and NAV," company says.

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S&U PLC - Birmingham, England-based motor and property finance lender - Revenue in year that ended January 31 climbs 17% to GBP102.7 million from GBP87.9 million. Pretax profit, however, falls 12% to GBP41.4 million from GBP47.0 million. Finance costs roughly double to GBP7.5 million from GBP3.8 million. Administrative expenses up 14% to GBP16.3 million from GBP14.2 million. Proposes final dividend of 60.0p per share, up 5.3% to 57.0p. Total dividend lifted 5.6% to 133.0p from 126.0p.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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