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Share Price: 10.25
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Change: -0.05 (-0.49%)
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Open: 10.20
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TRADING UPDATES: RentGuarantor loss widens, Journeo revenue soars

Tue, 01st Aug 2023 14:36

(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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RentGuarantor Holdings PLC - London-based rent guarantee service provider - Revenue in the first half of 2023 increases 79% GBP304,965 from GBP170,492 the prior year. Pretax loss widens to GBP408,470 from GBP352,919, and loss per share to 3.53 pence from 3.13p. Says wider losses due to continued investment in technology, people and marketing. Says results are "supportive of our strategy" and that it presents a "significant" long-term opportunity.

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Journeo PLC - Ashby de la Zouch, England-based - Pretax profit increases to GBP1.7 million in the first half of 2023. Group revenue more than doubles to GBP21.8 million from GBP8.9 million, including GBP9.3 million contribution from IGL Ltd (Infotec), acquired in January. Core business revenue up 41% to GBP12.5 million from GBP8.9 million, and sales of lower margin products were higher than expected. Expects GBP41 million revenue for the full year, "significantly ahead of current market expectations". Expects GBP42 million revenue next year and is targeting GBP50 million in 2025.

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International Personal Finance PLC - Leeds, England-based home and digital consumer credit provider - Pretax profit up 12% in first half of 2023 to GBP37.8 million from GBP33.8 million in 2022, ahead of expectations. Revenue up 28% to GBP380.0 million from GBP297.4 million. Declares 3.1p per share interim dividend, up 15% from 2.7p last year. Rollout of credit cards in Poland is "progressing well" with 53,000 cards issued, while its Mexico expansion strategy is on track with just under 800,000 customers. Is confident full-year results will be robust thanks to strong balance sheet, but still intends to maintain strict cost control.

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Ethernity Networks Ltd - Airport City, Israel-based supplier of data-processing semiconductor technology - Still "taking careful steps towards generating positive cash flow from its operations" during financial 2023, including combining business model to focus on licensing and reducing costs. Says there is "significant uncertainty" over its ability to achieve full-year target revenue due to extended sales cycles and delays in existing customer contracts. However, it expects an improved gross margin once licensing sales commence and improved earnings before interest, tax, depreciation and amortisation. Also says it has completed delivery of its system-on-chip devices to an existing fixed wireless customer pursuant to a USD1.5 million purchase order announced in June.

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Eco Atlantic Oil & Gas Ltd - Toronto-based oil and gas company with projects in Namibia, Guyana and South Africa - Pretax loss for year ended March 31 widens to GBP36.6 million from GBP3.8 million the previous year. Revenue increases to USD66,671 from USD3,556. Still receiving third party interest in its offshore Namibia strategic acreage position, and remains committed to further drilling on the Orinduik block in Guyana.

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Symphony Environmental Technologies PLC - Hertfordshire, England-based developer of technologies to increase sustainability of plastic and rubber products - Says group revenue in first half of 2023 increases to GBP3.6 million from GBP3.0 million last year. Gross profit margin increases to over 42% from 36%. Distribution costs "sharply reduced" to GBP110,000 from GBP225,000 due to lower shipping costs and its new Middle East production facility increasing efficiency. Says it will still make loss but this will be considerably lower than prior year. Expects momentum from this period to help it move back into productivity along with near-term commercialisation of multiple key projects.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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22 Jan 2024 16:53

IN BRIEF: Eco Atlantic gets consent to farm out interest to Africa Oil

Eco (Atlantic) Oil and Gas Ltd - Oil and gas exploration company focused on the offshore Atlantic margins in South Africa, Namibia, and Guyana - Announces that its wholly owned subsidiary, Azinam Ltd, has received final government approval to farm out its 6.25% participating interest in Block 3B/4B to Africa Oil Corp. Further, gives notice to the Minister of Natural Resources of Guyana to enter the second phase of the second renewal period of the Orinduik License effective as of January 14. Second phase has a commitment to drill one exploration well to the cretaceous formation during the remainder of the license period which ends on January 13, 2026.

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22 Dec 2023 15:50

UK shareholder meetings calendar - next 7 days

Monday 25 December 
no events scheduled 
Tuesday 26 December 
no events scheduled 
Wednesday 27 December 
Tremor International LtdAGM
Thursday 28 December 
ADVFN PLCAGM
Altona Rare Earths PLCAGM
Beximco Pharmaceuticals LtdAGM
Global Petroleum LtdAGM
Visum Technologies PLCAGM
Friday 29 December 
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Lansdowne Oil & Gas PLCGM re capital raise
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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12 Dec 2023 17:40

TRADING UPDATES: Celadon Pharma raises GBP2.0 million via placing

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30 Nov 2023 19:57

EARNINGS AND TRADING: Lendinvest completes securitisation

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15 Nov 2023 13:05

TRADING UPDATES: BiVictriX patent boost; 4Global deal extended

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9 Oct 2023 14:19

IN BRIEF: Eco Atlantic appoints Alice Caroll as executive director

Eco Atlantic Oil & Gas Ltd - Oil and gas exploration company focused on the offshore Atlantic Margins in South Africa, Namibia, and Guyana - Appoints Alice Carroll and Selma Usiku as directors of the company with immediate effect. Carroll is currently the Eco's head of corporate sustainability and joins the board as an executive director. She previously worked with Azinor Catalyst, a UK-focused oil and gas exploration company, before becoming the global marketing and investor relations manager for the Seacrest Azimuth Group. Meanwhile, Selma Usiku joins the board as a non-executive director with immediate effect.

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Eco Atlantic makes decent progress in first quarter

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30 Aug 2023 12:02

IN BRIEF: Eco Atlantic Oil & Gas quarterly loss narrows on lower costs

Eco Atlantic Oil & Gas Ltd - oil and gas exploration of offshore Atlantic Margins - Net loss from continuing operations narrows to USD717,399 in the three months that ended June 30 from USD2.6 million a year before. Eco Atlantic has no operating revenue, but net operating costs are cut to USD350,180 from USD1.9 million and share-based compensation to USD111,512 from USD1.0 million. As of June 30, has USD2.4 million in cash, down from USD4.1 million on March 31. Highlights two recent acquisitions in Guyana and South Africa as part of its effort "to position the portfolio to continue creating high-impact catalysts for investors".

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10 Aug 2023 12:14

Eco Atlantic buys further interest in Orinduik from Tullow; shares up

(Alliance News) - Eco Atlantic Oil & Gas Ltd on Thursday announced it acquired an additional 60% interest in the Orinduik block offshore Guyana from a Tullow Oil PLC subsidiary.

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10 Aug 2023 11:59

LONDON MARKET MIDDAY: FTSE 100 flat, peers and pound up before US data

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