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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Headlam Group PLC - Birmingham-based floor coverings - For the six months ended June, reports pretax profit of GBP14.0 million, swinging from a loss of GBP24.5 million a year prior, driven by a 45% year-on-year rise in revenue to GBP329.9 million from GBP227.2 million, nearly reaching GBP335.0 million reported for the first half of 2019. Revenue growth was driven by a recovery in the higher margin residential sector. Resumes normalised dividends with 5.8 pence per share. Looking ahead, commercial sector activity remans subdued, with residential performance pleasing, company remains in line with market expectations.
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Gem Diamonds Ltd - Lesotho and Botswana-focused diamond miner - For the first half of 2021, pretax profit rises sharply to USD28.3 million from USD2.5 million, on revenue which grew 50% year-on-year to USD104.5 million from USD69.5 million. During the period, ore mined rose to 3.18 million tonnes from 2.49 million tonnes, leading to the recovery of 58,831 carats compared to 43,275 carats, and an average sale price of USD1,886 per carat from USD1,707.
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Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan, and Nigeria - For the first half of 2021, pretax profit sharply rises to EGP1.04 billion - around GBP47.8 million - from EGP269.7 million, on revenue which more than doubled to EGP2.29 billion from EGP949.7 million, due to a 45% rise in the amount of tests performed to 1.45 million and 66% increase in the average price per test to EGP141. Declares an interim dividend of USD0.048 per share
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Polarean Imaging PLC - North Carolina-based MRI equipment developer and manufacturer - For the first half of 2021, pretax loss widens to USD4.9 million from USD3.2 million a year before, due to a sharp rise in selling and administration costs to USD1.8 million from USD351,754. Widened loss was in spite of revenue nearly doubling to USD621,874 from USD327,896 on the sale of a polariser system to MD Anderson.
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Gym Group PLC - low cost gyms operator - For the six months ended June 30, pretax loss barely narrows to GBP28.5 million from GBP28.6 million the year before, as administration costs remain high at GBP54.6 million, and revenue declines 21% to GBP29.3 million from GBP37.3 million, reflecting the extended lockdown in early 2021 which meant that gyms were only open for two full months of the trading period. However, membership numbers at the end of June rose to 730,000 from 698,000 a year prior. Looking ahead, membership numbers at the end of August dipped to 721,000 from June.
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Mpac Group PLC - high speed packaging firm - For the six months ended June 30, pretax profit doubles to GBP2.8 million from GBP1.4 million, on revenue which grew 20% year-on-year to GBP44.2 million from GBP36.8 million, supported by a 69% increase in order intake to GBP51.7 million from GBP30.5 million. Segmentally, Original Equipment revenue grew mainly in the America through a full period of trading from Mpac Switchback. Closing order book increased 12% to GBP62.0 million from GBP45.4 million. Will not declare an interim dividend. Looking ahead, expects annual results to exceed current market expectations.
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Inspired PLC - Lancashire-based energy procurement consultant - For the first half of 2021, pretax profit dips 1% to GBP935,000 from GBP952,000 a year prior, as administrative expenses rise to GBP22.6 million from GBP18.0 million. This was in spite of revenue growing 31% year-on-year to GBP32.6 million from GBP24.9 million, on a continued recovery in customers, markets and economic activity. Declares dividend of 0.12 pence per share, up 20% from 0.10p a year prior . Looking ahead, remains confident in achieving market expectations, assuming no further Covid-19 disruption.
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Camellia PLC - Linton, England-based agricultural production firm - For the six months ended June 30, pretax loss narrows to GBP7.8 million from GBP12.9 million, as administrative costs drop to GBP21.7 million, as did impairment costs. Revenue declined 8.2% year-on-year to GBP105.5 million from GBP114.9 million, as a rise in tea volumes were more than offset by a sharp rise in wages in Assam, and the tea market remaining oversupplied and poorly priced, in addition to a reduced avocado crop and lockdown extensions. Declares interim dividend of 44p per share from none a year prior.
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Bidstack Group PLC - London-based in-game advertising platform - For the first half of 2021, pretax loss widens to GBP3.6 million from GBP3.2 million a year prior, due to administrative expenses rising to GBP3.9 million from GBP3.2 million. This is in spite of revenue nearly tripling to GBP820,136 from GBP274,079, through the building up of its portfolio of triple A games, both in the independent and mobile publisher base. Looking ahead, expects revenue for the year as a whole to come in line with market expectations.
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600 Group PLC - West Yorkshire, England-based manufacturer and distributor of machine tools, precision engineered components and industrial laser systems - For the year ended March 31, pretax profit is USD90,000, swinging from a loss of USD633,000 the year before, through a fall in net operating expenses to USD17.1 million from USD22.7 million. Meanwhile, revenue for the year declined 20% to USD53.6 million from USD67.2 million, as Covid-19 and the resulting lockdowns had a crippling effect on trading.
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Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants - Net asset value per share as at June 30 was 100.2 pence, up 2.2% from 98p at the company's IPO on December 10. Over the period, company has completed two investments, injecting GBP102 million, or 83% of IPO proceeds, leading to portfolio generation of 101,211 megawatt-hours, 6.6% above expectations.
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Mast Energy Developments PLC - developer of reserve power generation plants - For the nine months ended June 30, pretax loss widens to GBP1.0 million from GBP220,043, due to heightening administrative costs and one-off listing expenses. Generated no revenue, as the first projects in the UK Reserve Power market are set to come on imminently.
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Wentworth Resources PLC - Tanzania-focused natural gas production company - For the first half of 2021, pretax profit more than doubled to USD2.7 million from USD1.2 million, on revenue which grew 40% to USD11.7 million from USD8.3 million, due to a record production performance from Mnazi Bay of 80 million standard cubic feet per day from 58 mmscf a year prior. Looking ahead, reiterates production guidance range for the year at 70 - 80 mmscf per day.
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Baron Oil PLC - oil and gas exploration company with assets in the UK, Peru and Timor-Leste - For the first half of 2021, pretax loss narrows to GBP118,000 from GBP705,000 a year prior, due to the lack of an impairment charge and a gain of GBP359,000 on acquiring all shares in SundaGas (Timor-Leste Sahul) Ltd from a 33% interest. In accordance with IFRS3, this has been treated as an effective disposal of the interest. Generates no revenue, as 3D seismic reprocessing to define Chuditch prospectivity is underway. Expects first half of 2022 to be "a key period" for Chuditch and Dunrobin projects.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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