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(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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Audioboom Group PLC - London-based podcast producer - Revenue for 2021 jumps to USD60.3 million from USD26.8 million in 2020, with firm swinging to pretax profit of USD1.7 million from loss of USD3.3 million - and noting this is its maiden annual pretax profit. "I am delighted to report on a defining year for the business which saw top-line growth of 125%, our maiden Ebitda and net profit, and the transformation of shareholder value. Our phenomenal performance has positioned us as the world's leading pure-play podcast business and increased our market-share significantly," says Chief Executive Stuart Last. Company adds that new year has started well, with record first quarter revenue of USD19.7 million and record adjusted earnings before interest, tax, depreciation and amortisation of USD900,000.
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EQTEC PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Revenue for 2021 jumps to EUR9.2 million from EUR2.2 million in 2020, with pretax loss narrowing to EUR4.7 million from EUR5.8 million. Says it delivered "solid results" in face of challenges, such as longer order lead teams and higher production prices. Looking ahead, firm expects to make fully operational two Market Development Centres and two additional plants under construction for other owner-operators by end of 2022. "The company is targeting continued, strong revenue growth and reduction in Ebitda losses, with planned investment in new and innovative projects that raise EQTEC's visibility and range of propositions," it says.
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Panther Securities PLC - London-based property investment company - Says revenue in 2021 rises 0.9% annually to GBP13.2 million from GBP13.1 million in 2020. Pretax profit jumps to GBP15.9 million from GBP2.6 million. Net asset value per share increases 13% to 553p at the end of 2021, from 488p a year earlier. Panther Securities maintains its annual dividend at 12p per share. "The economy may be entering a higher interest and high inflation environment. We have fixed interest swaps which will protect us from any interest increases. On the inflation, the make-up of property companies naturally protects the business as property investments should go up in line with inflation whilst the loans real value effectively decreases," it says.
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Lok'nStore Group PLC - Farnborough, England-based provider of self storage space - Reports revenue of GBP13.4 million in six months to January 31, up 31% on a year before. Adjusted net asset value per share rises to GBP8.43 at period-end from GBP5.68 year-on-year. Pretax profit grows to GBP11.3 million from GBP2.9 million. Describes trading in period as "excellent". "Demand for UK Self-Storage assets remains strong," says Executive Chair Andrew Jacobs. Interim dividend rises 16% to 5.0p from 4.33p a year before.
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Deltic Energy PLC - AIM-listed natural resources investing company - Pretax loss for 2021 GBP1.9 million, widened from GBP1.7 million in 2020. This is largely due to GBP288,551 write-down on relinquished intangible assets, versus nothing a year ago. Looking ahead, says it has "conveyor belt of opportunities". Says strong progress made since farm-out with Capricorn Energy PLC, with joint venture aiming to make well investment decision in the third quarter of 2022. "We are particularly looking forward to drilling the Pensacola Prospect in the coming months, as well as continuing our work with Shell and Capricorn and advancing our other licences in what should be a very active and exciting period for our company," says Chief Executive Graham Swindells.
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NB Distressed Debt Investment Fund Ltd - provides investors with exposure to stressed, distressed and special situation credit-related investments - Net asset value per share stands at USD0.9028 at end of December, up from USD0.8420 the same date a year ago. For new global shares, NAV rises to GBP0.5785 from GBP0.5682. "Momentum in public markets continued as investors and consumers were encouraged by the vaccine rollout. However, the year ended with volatility as investors monitor multiple themes that could impact global growth," company says.
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Critical Metals PLC - Africa-focused natural resources investor - Pretax loss for half-year to December 31 widens to GBP284,554 from GBP152,111 year-on-year. No revenue recorded in either period. Is working towards completion of the Molulu project acquisition and readmission of the enlarged group to London Stock exchange. "While there have been frustrations with the time it is taking to finalise this proposed transaction, we are confident that completion will occur in middle of 2022 and events post period end have paid heed to this thesis," it says.
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Christie Group PLC - professional business services group - Revenue for 2021 grows to GBP61.3 million from GBP42.2 million in 2020. Swings to pretax profit of GBP3.9 million from loss of GBP6.3 million the year before. Reports "tremendous" result for Professional & Financial Services division, with unit turning to operating profit of GBP7.6 million from GBP1.9 million loss on revenue of GBP43.8 million. "This is our highest profit from the division since 2007 and a profit conversion of 17%," it says. "These are excellent results derived from our professional services activities. Our stocktaking businesses are also, post pandemic, generating new business and fair margins. Overall momentum is building as the year progresses. We anticipate another good year weighted, as before, to the second half," says Chair & Chief Executive David Rugg.
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SpaceandPeople PLC - AIM-listed retail, promotional and brand experience specialist - Revenue for 2021 rises to GBP4.0 million from GBP2.8 million in 2020, with firm turning to pretax profit of GBP75,000 from loss of GBP3.6 million the year before. "We have focussed on ensuring the business is in the best shape it can be for the recovery which is now under way while dealing with the government-imposed restrictions in the UK and Germany. The difficult decisions that were made during this period have left a more resilient business which has a robust balance sheet and stable, committed finance facilities," it says. Firm is seeing business levels returning and footfall in venues continuing to grow. Expects to see improved operating profitability in 2022 "even given the impact of current general economic factors".
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Access Intelligence PLC - London-based software-as-a-service products provider - Revenue in financial year ended November 30 rises to GBP33.3 million from GBP19.1 million in 2020. However, pretax loss widens to GBP9.6 million from GBP5.7 million. Recurring administrative expenses rise to GBP25.6 million from GBP13.1 million and non-recurring administrative expenses increase to GBP3.9 million from GBP2.5 million. Says year was "transformational" one and it made additional investments made in product suite, alongside expanded sales and marketing activity to drive future growth. During first quarter of 2022, company says its EMEA and North America business has continued to grow with improved upsell compared to a year ago. "Overall, we are pleased with the progress being made with the integration of Isentia and continue to trade in line with expectations," it says.
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Frenkel Topping Group PLC - Manchester-based professional and financial services firm focused on asset protection - Revenue for 2021 rises 80% to GBP18.4 million from GBP10.2 million and pretax profit grows at the same pace to GBP2.7 million from GBP1.5 million. Keeps dividend steady at 1.36p. Assets under management up 16% to GBP1.17 billion as at December 13 from a year ago. "Our 2021 results demonstrate the cumulative impact of clear commercial goals, a targeted acquisition strategy focused on acquiring high quality, complementary businesses with aligned values, and a desire to deliver the best possible outcomes for our underlying clients," says Chief Executive Richard Fraser. Adds that start to current financial year has been strong with "solid pipeline" of new business opportunities. "We are trading in line with management's expectations and therefore remain confident about the future and the full year outturn," it says.
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Arecor Therapeutics PLC - Essex, England-based biopharmaceutical company - Revenue falls to GBP1.2 million in 2021 from GBP1.7 million in 2020, while pretax loss widens to GBP6.9 million from GBP3.5 million. Says it was debt-free at end of the year with closing cash balance GBP18.3 million. "Due to the uncertainty created by Covid-19, the cash flow forecast has been stress tested. As a worst-case scenario, if all payments continued as forecast and there were nil receipts, the group would remain cash positive for the full twelve months from the date of approval of these financial statements," it says.
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By Lucy Heming; lucyheming@alliancenews.com
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