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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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Team17 Group PLC - Nottingham-based video game development company - Pretax profit in six months to June 30 rises 5.3% to record GBP14.0 million from GBP13.3 million a year before. Revenue grows 3.4% to GBP40.1 million, also a record, from GBP38.8 million. Releases six new titles in first half, leading to a record performance, as well as existing titles Overcooked! All You Can Eat and Worms Rumble released on additional platforms in March and June, respectively. Chief Executive Debbie Bestwick says: "Our performance during the first half of this year is a testament to the continued commitment and passion of our teamsters and label partners. I am delighted to report we've been able to continue the trend of delivering improved year on year results specifically considering the corresponding half record set the previous year, which benefited from the one-off impact of the global pandemic and large swathes of global lockdowns."
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Accesso Technology Group PLC - Reading-based e-ticket provider - Swings to pretax profit of USD858,000 in six months that ended June 30 from loss of USD18.5 million a year before. Revenue doubles to USD50.7 million from USD24.6 million. Chief Executive Steve Brown says: "Despite the challenges of the past 18 months, these results show Accesso is squarely back on track. As a result, our financial performance during the first half of 2021 exceeded our previous expectations...With robust demand continuing into the start of the second half, we are anticipating full year revenue of not less than 2019 levels alongside significantly improved profitability." Guides for 2021 revenue of not less than USD117 million, compared to USD56.1 million in 2020 and in line with the USD117.2 million seen in 2019. "With continued strong demand across the business, we expect cash earnings before interest, taxes, depreciation and amortization ​to be significantly ahead of market expectations for both the half and the full year," company adds.
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EKF Diagnostics Holdings PLC - Cardiff-based diagnostics and central laboratory assay manufacturer - Pretax profit in six months to June 30 almost doubles to GBP11.4 million from GBP6.2 million. Revenue rises by 47% to GBP38.6 million from GBP26.3 million. Declares interim dividend of 1.1 pence per share. "The strong trading from the beginning of the year continued into the second quarter of 2021. This continues to reflect improving trading in the core business and ongoing strong demand for EKF's contract manufacturing services for Covid-19 sample collection devices and associated kits. The board is now very confident that trading for the full year will be comfortably ahead of already materially upgraded management expectations," company says.
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Equals Group PLC - London-based payments services for small and medium enterprises - Pretax loss narrows to GBP2.2 million in the six months to June 30 from GBP3.3 million a year before. Revenue rises by 22% to GBP16.9 million from GBP13.8 million. Gross value of currency transactions sold grows to GBP1.74 billion from GBP1.20 billion and gross value of banking deposit transactions rises to GBP570.3 million from GBP363.5 million. Notes revenue from start of to July to September 10 is up 58% year-on-year to GBP9.2 million. "Equals finds itself with a unique position in the FinTech sector as, not only are we generating operational cash, but we remain very well-funded for both re-investment in product and marketing to drive further profitable revenue growth," Chief Executive Ian Strafford-Taylor says.
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Diaceutics PLC - Belfast-based data analytics company - Sinks to pretax loss of GBP537,000 in six months to June 30 from GBP27,000 profit a year before. Revenue rises to GBP6.0 million from GBP5.3 million but administrative expenses grow to GBP5.1 million from GBP3.8 million. Chief Executive Peter Keeling says: "Our focus for 2021 was on switching our clients over to the DXRX platform to gain more of our clients investment in diagnostic commercialisation as well as benefit from the internal efficiencies which accrue from a platform business model. I am pleased with our achievement against that goal with twice the predicted level of business flowing through DXRX."
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Portmeirion Group PLC - homewares manufacturer based in Staffordshire, England - Improves to pretax profit of GBP1.2 million in six months to June 30 versus GBP2.9 million loss a year before. Revenue grows to record GBP43.1 million from GBP32.0 million. Says dividend will be resumed in the current year, with payment to come with release of final results. Chief Executive Mike Raybould says: "We have seen strong trading in the first half of the financial year, including a significant benefit from the focus on our online transformation strategy. Since the period end trading has continued that trend into the first two months of the second half of the financial year. Looking forward we continue to have a strong order book across our key markets. While we are cognisant of the ongoing, widely reported disruption and volatility in global supply chains, we are confident the accelerated strategic investments we are making across our business will enable a strong path of growth in the next few years."
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Tern PLC - investor focused on the internet of things - Sinks to pretax loss of GBP718,465 in six months to June 30 from GBP142,474 profit year before. Total investment income drops sharply to GBP67,638 from GBP778,546, and administration costs rise to GBP832,991 from GBP632,644. Chief Executive Al Sisto says: "Our portfolio companies made significant strides towards cementing their targeted market leadership positions during the first six months of the year, and we believe our objectives for Tern are being met as our portfolio expands in size and value. With our focus on the high growth IoT market, our years of operating expertise, the synergistic benefits of our portfolio composition and our sustainable investment model, I believe Tern is very well positioned for the future. In addition, we will continue to aggressively seek the very best IoT technology companies which can provide disruptive solutions to the healthcare and industrial sectors and that add to the synergies between our existing holdings, providing additional value growth for the long term." Net assets end June 30 at GBP23.3 million versus GBP19.9 million at same point year before.
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TP Group PLC - Hampshire, England-based consulting, software and engineering company - Pretax profit in six months to June 30 widens to GBP2.1 million from GBP1.8 million loss year before. Revenue rises to GBP33.8 million from GBP27.5 million, but administrative expenses grow to GBP10.0 million from GBP8.4 million. Chief Executive David Lindsay says: "TP Group will significantly increase shareholder value by focussing on Aerospace & Defence clients that place great trust in our excellent people, expert technical knowledge and secure processes & systems. I have already streamlined our management structure and reduced our central costs by GBP1 million per annum that will directly benefit the bottom line in 2022. We will also improve profitability by increasing knowledge transfer, resource sharing and use of common systems across our businesses." Lindsay "very optimistic" for the future.
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Filta Group Holdings PLC - Rugby, England-based fryer management services provider - Improves to pretax profit of GBP206,535 in six months to June 30 from GBP782,373 loss a year before. Revenue rises 17% to GBP9.7 million from GBP8.3 million. Considers it would be "prudent" to not pay an interim dividend and to allow the trading recovery to "continue to gather momentum". "Nonetheless, if the current trading trend carries on through the remainder of the year, the board expects to resume the payment of a final dividend," company adds. Chief Executive Jason Sayers says: "We are carrying good momentum into the second half of the year and, although we are mindful of continuing risks to the economic recovery in the countries in which we operate, Filta is developing initiatives focused on growing the core business and addressing one of the key industry concerns of sustainability. We are excited about the potential in our business pipeline and believe that we are well placed to deliver attractive growth and shareholder returns."
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Deltic Energy PLC - natural resources investing company - Pretax loss in six months to June 30 narrows to GBP691,754 from GBP869,505 loss a year before. Administrative expenses fall to GBP674,718 from GBP920,238. Does not generate revenue in either period. Chief Executive Graham Swindells says: "I am extremely pleased with my team's achievements in 2021 so far, with great progress across the portfolio. The decision to drill Pensacola and transformational deal with Cairn Energy have been particular highlights. Both demonstrate our strategy to build a diverse portfolio of opportunities and attract high-quality partners. We are looking forward to commencing our partnership with Cairn, as well as continuing our work with Royal Dutch Shell, as we progress towards drilling our high-impact Southern North Sea gas prospects. The next twelve months are set to be an exciting time for our company."
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Lexington Gold Ltd - gold exploration and development company operating in North and South Carolina in the US - Pretax loss in six months to June 30 more than doubles to USD467,000 from USD212,000 loss a year before. Loss composed entirely of operating expenses, as company doesn't generate revenue in either period. "The first half of 2021 has been an encouraging period for the company, following a transformational 2020 in which the company completed its acquisition of majority interests in four gold exploration projects in North and South Carolina in the US and was readmitted to trading on AIM in November 2020. The period has seen the company build on such transformation, with exciting exploration progress made on its gold projects in the Carolinas," company says.
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By Paul McGowan; paulmcgowan@alliancenews.com
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