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(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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Focusrite PLC - High Wycombe, Buckinghamshire-based music and audio products company - Revenue in year ended August 31 increases 34% to GBP173.9 million from GBP130.1 million. Pretax profit surges to GBP35.0 million from GBP7.0 million, helped by absence of GBP10.2 million impairment of goodwill on acquisition. Up payout 24% to 5.2 pence per share from 4.2p. "Since the year end, demand for the vast majority of our group products has remained strong, and those sectors negatively impacted by Covid-19 are showing ongoing signs of recovery. All the group's acquisitions are settling in well, numerous cross business initiatives have already been completed and many more are slated to occur later this year, the benefit of which we expect in the latter part of FY22 and into FY23," company says. It says it is "cautiously optimistic about the prospects for modest revenue growth in the current year".
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Gear4Music PLC - York-based online musical instruments and equipment retailer - Revenue in six months to September 30 falls 7.8% annually to GBP64.7 million from GBP70.2 million. Pretax profit falls 66% to GBP1.9 million from GBP5.8 million a year earlier. Says third-quarter revenue to date is slower than expected due to Brexit-related supply chain challenges. "As such the board believes that results for the financial year will be lower than recently upgraded consensus market expectations," the online musical instruments and equipment retailer says. Board now expects full-year earnings before interest, tax, depreciation and amortisation to no less than GBP12 million, which would be down from GBP18.9 million in the prior financial year and below market consensus for GBP14 million. First half Ebitda dropped to GBP4.8 million from GBP8.5 million.
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AdEPT Technology Group PLC - London-based information technology provider - Revenue in first half ended September 30 up 20% to GBP34.3 million from GBP28.5 million. Increase came despite a deferral worth around GBP900,000 due to global supply chain issues and customer resource allocation. Deal to be met in second half. Swings to pretax loss of GBP869,000 from GBP18,000 profit, however. Finance costs increase to GBP1.4 million from GBP1.1 million. In addition, AdEPT reports GBP569,000 worth of acquisition costs, against none reported a year earlier. Chair Ian Fishwich says: "AdEPT is on track to achieve management expectations for FY22, with GBP900,000 of revenue and its associated margin, deferred from H1 due to supply chain issues and customer resource allocation, underpinning the board's confidence."
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Trakm8 Holdings PLC - Birmingham-based telematics hardware company - Revenue in six months to September 30 up 23% annually to GBP9.0 million from GBP7.3 million. Swings to GBP47,000 pretax profit, from GBP845,000 loss a year earlier. Tips results for full-year to top market expectations, despite "mitigating supply chain challenges and expected significant component price increases". In addition, company notes Peter Mansfield, sales and marketing director, resigns from board with immediate effect. "Paul Wilson who had previously been group sales and marketing director will be assuming responsibilities for fleet sales and marketing,3 Trakm8 adds.
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dotDigital Group PLC - London-based marketing software company - Revenue in year ended June 30 increases 23% to GBP58.1 million from GBP47.4 million. Pretax profit up 5.1% to GBP12.9 million from GBP12.2 million. "To have delivered our strongest year to date amid pandemic-related challenges, while managing a pronounced increase in the uptake of newer channels beyond email, is testament to the exceptional people at Dotdigital," company says. Proposes 0.86p payout, up 3.6% from 0.83p.
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Revolution Bars Group PLC - Ashton-under-Lyne, England-based bar chain - Revenue in Covid-19 hit year ended July 3 tumbles 64% to GBP39.4 million from GBP110.1 million. Revolution says hurt by "various Covid-19 lockdowns and restrictions throughout the entirety of FY21, compared to just the last 14 weeks of FY20". However, pretax loss narrows to GBP26.3 million from GBP31.7 million. Operating expenses down by 58% to GBP49.2 million from GBP116.2 million. Revolution adds: "The group has again faced an extraordinary year where every week of trade was impacted heavily by restrictions or enforced closure. However, the group used this period to further invest and improve its brands and operations, and the group is now picking up where it left off prior to Covid-19." Year to date total revenue currently topping prior year's level. Like-for-like revenue since July 19, when restrictions fully eased, 14% ahead of two years earlier.
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Georgia Capital PLC - Tbilisi-based investor in businesses in Georgia - Net asset value per share at September 30 rises 9.7% to GEL59.77, about GBP14.10, from GEL54.48 in June. Net asset value up 8.9% to GEL2.76 billion, about GBP651.0 million, from GEL2.54 billion. "The Georgian economy has continued to demonstrate remarkable progress, notwithstanding the ongoing impact of Covid-19 related infection waves," company says.
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JPMorgan Global Core Real Assets Ltd - real estate, transportation and infrastructure investor - Net asset value per share at August 31, conclusion of first half, rises 4.2% to 91.6p from 87.9p in February. Pays 2.00p worth of dividends in respect of first half, up by a third from 0.75p. "Over the period economic activity and business confidence have increased, largely on the back of the successful roll-out of Covid-19 vaccines - at least in developed markets. The gradual return to something approaching normal life has already delivered benefits to the sectors in which your company invests," JPMorgan Global Core Real Assets says.
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Troy Income & Growth Trust PLC - invests predominantly in UK equities - Net asset value per share rises 7.1% to 77.72p at September 30, the conclusion of Troy Income's financial year, from 72.60p a year earlier. Net asset value total return amounts to 10%, lagging FTSE All-Share Index total return of 28%. trims payout by 29% to 1.95p per share from 2.78p.
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Reconstruction Capital II Ltd - Romania and Bulgaria-focused closed-end investment fund - Net asset value per share declines 0.7% to EUR0.1550 on September 30, end of third quarter, from EUR0.1562 in June. In addition, company notes Ion Florescu, a "significant shareholder" and Cornelia Oancea, an "adviser to the company", each loan Telecredit IFN SA EUR100,000. "The loans mature in November 2022 and carry an annual interest rate of 8% and were granted to support the working capital requirements of Telecredit related to its SMEs factoring and discounting operations," company adds.
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Palace Capital PLC - investor with portfolio of UK regional commercial properties - Reports pretax profit of GBP8.0 million for half-year to September 30, swinging from loss of GBP7.2 million a year ago. "We are seeing more inspections of our vacant space, increasing interest in the office investment market and in future office development, and are therefore confident in office space continuing to be in demand," it says. EPRA net tangible assets per share up 3.6% to 362p, from 350p in March. Lifts interim dividend by 25% to 6.25p from 5.0p.
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McKay Securities PLC - commercial property investment company - Net asset value per share increases 4.2% to 322 pence in six months to September 30, from 309p in March. Swings to pretax profit of GBP15.4 million from GBP15.0 million loss a year earlier. Portfolio value rises 2.7% to GBP455.0 million from GBP437.9 million in March. McKay ups payout to 2.9p per share from 2.8p.
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Nostrum Oil & Gas PLC - exploration and production company, which operates in the Caspian Basin area in eastern Europe - Says revenue in first nine months of 2021 up 5.0% to USD142.7 million from USD135.8 million a year earlier. Earnings before interest, tax, depreciation and amortisation improve 40% to USD84.1 million from USD60.3 million. Sales volumes decline to 15,838 barrels of oil equivalent per day, from 22,269 boepd a year earlier. Average daily output was 17,532 boepd. "The average daily production forecast for 2021 remains 17,000 boepd," Nostrum adds.
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Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan, and Nigeria - Revenue in third quarter surges to EGP1.47 billion, about GBP69.7 million, from EGP720 million a year earlier. Covid-19 test sales up to EGP797 million from EGP152 million. Third quarter pretax profit jumps to EGP722.6 million from EGP287.4 million.
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Silence Therapeutics PLC - novel RNA therapeutics developer with offices in London and Berlin - Revenue in third quarter ended September 30 increases 59% year-on-year to GBP3.2 million from GBP2.0 million. Pretax loss, however, widens to GBP12.1 million from GBP9.5 million. Puts revenue growth down to "further advancement of the partner programmes". Pretax loss widens as research and development costs stretch to GBP7.9 million from GBP3.5 million. Administrative expenses up to GBP5.5 million from GBP2.7 million.
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By Eric Cunha; ericcunha@alliancenews.com
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