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George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
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Pin to quick picksEthernity Net Share News (ENET)

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TRADING UPDATES: Alpha Financial and James Latham hike dividends

Thu, 24th Jun 2021 11:37

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

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Alpha Financial Markets Consulting PLC - London-based consultancy for asset and wealth management industry - Pretax profit for 12 months to March 31 comes in at GBP9.0 million, slipping 3.2% from GBP9.3 million a year prior. Revenue rises 7.9% to GBP98.1 million from GB90.9 million. "We are delighted with the performance of the group over the financial year, with the second half of the year creating further momentum and a very strong pipeline of new business," company says. Hikes payout to 6.95p per share, more-than-tripled from 2.10p a year before. "Alpha's diversified, resilient and growing business model, complemented by strong levels of utilisation and an excellent global pipeline, support the board's confidence in the further growth of the group," says company.

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James Latham PLC - timber and panel products distributor - Posts pretax profit for year to end March of GBP18.6 million, rising 18% from GBP15.7 million a year before. Revenue inches up 1.3% to GBP250.2 million from GBP247.1 million. Declares final dividend of 15.5p per share, up 55% from 10.0p a year prior. "The strong demand seen towards the end of this financial year, has continued into the new financial year, with margins also improving. Global demand for timber products is very strong, being driven primarily by North America, but also from the construction sector worldwide. Many manufacturers have introduced an allocation system limiting the ability for us to grow our volumes... The outlook is difficult to predict, but the current challenging supply situation looks set to continue through 2021, but visibility beyond that is much more uncertain, but we know that the market will change at some point," says company.

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Ethernity Networks Ltd - Israel-based networking and security solutions provider - Sees pretax loss widened to USD6.3 million in 2020, from USD4.5 million in 2019. Revenue rises 46% to USD1.9 million from USD1.3 million. Research & development expenses increase to USD4.0 million from USD2.9 million. "The current year will be both challenging and exciting as the company continues to increase and capitalise on customer engagements, continues to develop and deliver its strategy as well as face the particular challenges, including the Covid-19 pandemic in India and the shortage of components, to grow the revenue delivery from current modest levels, into milestone new contracts," says company.

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SDCL Energy Efficiency Income Trust PLC - investment company - Posts net asset value per share at March 31 of 102.5p, up 1.5% from 101.0p a year prior. Pretax profit rises sharply to GBP32.4 million for the year ended March 31 from GBP11.6 million a year prior. Total payout for year comes in at 5.5p, up 10% from 5.0p. Targets payout of of 5.62p per share for year to March 2022. Says it will continue to seek to build a diversified portfolio for the company "and, particularly, to further diversify in terms of technologies that are compatible with a pathway towards decarbonisation. Beyond combined heat and power, solar, storage and district energy, the Investment Manager is evaluating investments in heat pumps, micro grids, cooling, low carbon fuel for transport (including green gases as well as well as electricity) and hydrogen".

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Keras Resources PLC - mine development in Togo, West Africa and US state of Utah - Reports pretax loss of GBP560,000 in half-year ended March 31, narrowed from GBP809,000 a year before. Revenue comes in at GBP31,000 compared to nothing a year before. Does not declare an interim dividend, unchanged year-on-year. "We have one of the highest-grade organic phosphate mines in the US producing six different fully certified organic products. Our job now, in addition to mining and processing, is to create and cultivate our place in the burgeoning US organic phosphate industry and build our market share turning our initial customers into long-term sales partners. We can adapt our premium, higher-grade phosphate resources to deliver customised products for the specific needs of local soil, climate, and crops with the ultimate aim of generating higher crop yields for our customers," says Chief Executive Russel Lamming.

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First Property Group PLC - property fund manager - Posts pretax loss in year to end March of GBP5.1 million, swinging from a pretax profit of GBP5.5 million a year prior. Revenue slips 26% to GBP12.1 million from GBP16.3 million. Forgoes final dividend, compared to 1.22p per share a year ago. "The outlook is improving but is far from certain. Quantitative easing will no doubt begin to buoy asset values soon; there are signs of it now, even with income under pressure. But the gravitational pull of economic adversity is going to continue for some time yet," says company.

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XPS Pensions Group PLC - pure pensions consultancy - Reports pretax profit for year to end March of GBP11.4 million, up 2.7% from GBP11.1 million a year prior. Revenue increases to GBP127.9 million from GBP119.8 million, driven by strong client demand across all Pensions divisions. Declares full-year dividend of 6.7p, up marginally from 6.6p. "The outlook for the business is positive as we continue to invest in our people and services. In particular, we anticipate strong demand as we help clients address the challenging regulatory environment, including the pending overhaul of funding regulations, GMP equalisation and the consequences of the finalised CMA Review. Our growing new business pipeline also provides an opportunity for us to continue growing our market share," says Co-CEO Ben Bramhall.

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iEnergizer Ltd - IT service management company - Reports pretax profit for year ended March 31 of USD53.5 million, rising 1.7% from USD52.6 million a year before. Total income increases 2.8% to USD200.3 million from USD194.9 million. Pays out 14.12p per share for entire year, up 3.8% from 13.6p. "As we look into fiscal 2022 and beyond, we see a sizeable project pipeline, in both enterprise solutions across the group. These relate to continued development of the course material and Learning Management Systems for the Off-The-Shelf content service, combined with continued solid momentum in our Business Process Outsource segment. We expect the business to continue to deliver on its strategy, and we continue to keep a close eye on our costs, as the revised structure and new initiatives continue to take effect in the content delivery segment. The operational leverage in the business model enables us to capitalise substantially on revenue growth opportunities presented in the pipeline," says company.

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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Posts pretax loss of EUR2.2 million in 2020, narrowed from EUR3.3 million a year before. Revenue rises 7.7% to EUR22.5 million from EUR20.9 million. Does not declare any dividends. "The momentum behind the business continues to build in the current year: our palm oil operations are on course to post another improved set of financial results for the first half; the cashew purchasing programme has commenced in anticipation of the plant at Tiebissou commencing processing in the coming weeks; the post period end long term debt refinancing has extended the maturity of our debt profile and strengthened our balance sheet; and the planned completion of the RSPO certification process for our palm oil operations later this year will potentially highlight the attractiveness of our project and open up export routes," says company.

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Sigma Capital Group PLC - build-to-rent housing provider - Reports pretax profit for six months to end March of GBP4.1 million, up sharply from GBP1.0 million for six months ended June 30 last year. Revenue rises 32% to GBP6.6 million from GBP5.0 million. Does not intend to propose an interim dividend in line with prior years. "These results reflect Sigma's continuing good progress. The recent offer for Sigma by PineBridge Benson Elliot LLP was unanimously recommended by Sigma's Independent Directors as in the best interests of staff, partners and shareholders as a whole, and is now following due process," says company.

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Path Investments PLC - energy and natural resources investment company - Reports widened pretax loss for 2020 of GBP377,103 from GBP317,647 a year prior. Loss per share widens to GBP0.19 from GBP0.16. "In March 2021 the company was delighted to receive the welcome support of new shareholders and certain existing holders in a fund raising with gross proceeds of GBP3.85 million received to accelerate the company's investment strategy. We are currently focussed on one opportunity in particular and anticipate updating shareholders in due course," says company.

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By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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LONDON MARKET MIDDAY: Stocks down on Israel attack on Isfahan, Iran

(Alliance News) - Stock prices in London were down at midday on Friday, as equity sentiment suffered by worries of a conflict escalation between Iran and Israel, after Iranian state media reported explosions in the province of Isfahan.

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UK shareholder meetings calendar - next 7 days

Wednesday 10 April 
Valereum PLCAGM
Wincanton PLCGM re takeover by GXO Logistics Inc
Thursday 11 April 
AstraZeneca PLCAGM
Friday 12 April 
SigmaRoc PLCAGM
Monday 15 April 
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Vanquis Banking Group PLCAGM
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Tullow Oil PLCAGM
  
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.

Read more
2 Apr 2024 13:22

UK shareholder meetings calendar - next 7 days

Wednesday 3 April 
Downing Strategic Micro-Cap Investment Trust PLCGM re approval of B share scheme
Quantum Exponential Group PLCGM re delisting or potential investment in company
Thursday 4 April 
Rio Tinto PLCAGM
Scottish American Investment Co PLCAGM
TheWorks.co.uk PLCGM re Main Market delisting and AIM admission
Friday 5 April 
Faron Pharmaceuticals LtdAGM
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Monday 8 April 
Premier African Minerals LtdAGM
Tuesday 9 April 
Ethernity Networks LtdEGM re board appointments and option grants
  
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.

Read more
28 Mar 2024 13:44

EARNINGS AND TRADING: Northamber loss widens; Ethernity contract boost

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

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28 Mar 2024 13:27

Ethernity reports positive discussions with potential customers

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EXECUTIVE CHANGES: Ethernity chair stays on, Picton director to quit

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Ethernity Networks shares edge up as Ayala Deutsch promoted to CFO

(Alliance News) - Ethernity Networks Ltd on Wednesday said it has promoted its finance vice president, Ayala Deutsch, as chief financial officer, following the resignation of Mark Reichenberg in the summer.

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Ethernity Networks names Ayala Deutsch as CFO

(Sharecast News) - Data processing semiconductor technology supplier Ethernity Networks has appointed Ayala Deutsch to the board as the company's new chief financial officer.

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EARNINGS AND TRADING: STV raises holding in Two Cities Television

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11 Jan 2024 11:44

IN BRIEF: Ethernity Networks gains approval for creditor settlement

Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Says it has received approval of the proposal for the settlement of creditors from all three of its creditor groups. Says it has submitted a settlement proposal with the court of Lod, Israel, with the court set to schedule a hearing to consider and approve the settlement. Says that under the settlement, valid creditors will be repaid over a 12-month period in four instalments. The first payment will be made within 90 days of exiting the settlement. Notes that the total creditor balance is USD1.6 million.

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IN BRIEF: Ethernity Networks secures some creditor support for plans

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Read more

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