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Pin to quick picksEthernity Net Share News (ENET)

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Share Price: 0.875
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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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19 Apr 2024 12:02

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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19 Apr 2024 10:32

AIM WINNERS & LOSERS: Ethernity loss narrows; Fonix staff sell shares

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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19 Apr 2024 09:17

Ethernity Networks shares jump on annual revenue boost

(Alliance News) - Ethernity Networks Ltd on Friday reported a significant increase in its annual revenue, resulting in a narrowed loss for the company in 2023.

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9 Apr 2024 16:14

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 
C4X Discovery Holdings PLCGM re re-registering as private limited company
i3 Energy PLCGM re proposed capital reduction
Molecular Energies PLCGM re delisting
Vanquis Banking Group PLCAGM
Tuesday 16 April 
Everyman Media Group PLCAGM
Ethernity Networks LtdGM
Hydro Hotel Eastbourne PLCAGM
Nexteq PLCAGM
Nexus Infrastructure PLCGM re final dividend, reappointment of auditors
Porvair PLCAGM 
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
VPC Specialty Lending Investments PLCGM re capital return via B share scheme
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.

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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

(Sharecast News) - Networking processing semiconductor technology specialist Ethernity Networks said in an update on Thursday that, throughout the year to date, it had engaged positively with several potential new customers, including two OEM vendors.

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8 Mar 2024 13:55

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

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Friday and not separately reported by Alliance News:

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8 Mar 2024 10:16

Yosi Albagli to continue as Ethernity Networks chairman

(Sharecast News) - Data processing and networking semiconductor technology specialist Ethernity Networks announced the continuation of Joseph 'Yosi' Albagli's tenure as its non-executive chairman on Friday, following the conclusion of his initial three-year term.

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14 Feb 2024 11:12

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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14 Feb 2024 09:10

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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5 Feb 2024 20:23

TRADING UPDATES: ReNeuron warns; Gama Aviation pledges cash return

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

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31 Jan 2024 18:28

EARNINGS AND TRADING: STV raises holding in Two Cities Television

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

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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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4 Jan 2024 19:57

IN BRIEF: Ethernity Networks secures some creditor support for plans

Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Provides update on the ongoing temporary suspension of proceedings process. Explains that further to a statement December 20, a meeting of creditors took place earlier Thursday. This was to consider and vote on the company's proposed settlement plan. The significant majority of general and guaranteed creditors by number and creditor balance approved the settlement proposal. The company has not yet received final votes from all the priority creditors (which represent around one quarter of the total creditor balance) and remains in discussion with them in order to obtain their votes. Subject to achieving the required level of creditor support for the settlement proposal, says the TSP settlement manager will seek the Court's approval.

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