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EARNINGS UPDATES: Motorpoint's interim profit plunges amid challenges

Thu, 24th Nov 2022 12:52

(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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Motorpoint Group PLC- Derby, England-based second hand car retailer - Sees pretax profit plunge to GBP3.0 million in the six months ended September 30, from GBP13.5 million the year prior. This comes despite revenue rising 30% to a record GBP786.7 million from GBP605.2 million, thanks to growth in market share, vehicle mix and price inflation. The firm cites increased investment in relation to its strategic objectives totalling GBP3.5 million for the fall in profit, rising interest costs, as well as record margins experienced in the previous year for the fall in profit. Vehicles sold also falls 8.2% year-on-year. Notes that consumer uncertainty and vehicle supply challenges are significantly affecting the used car market and admits that this will "likely" have an impact on its full-year performance. Unchanged from a year prior, firm declares no dividend.

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NewRiver REIT PLC - London-based real estate investment trust, primarily focused on retail and leisure properties - In the six months ended September 30, swings to a pretax profit of GBP4.1 million from a loss of GBP16.6 million the year prior. Revenue, however, dips to GBP35.5 million from GBP36.0 million. Retail portfolio value declines to GBP643 million at September 30, from GBP649 million at March 31. However, the portfolio total return in the half is positive 3.0%, outperforming the firm's benchmark the MSCI All Retail which return positive 0.4%. Declares an interim dividend of 3.5 pence, up 6.1% against its last dividend. Chief Executive Allan Lockhart explains the performance was driven by strong leasing, consistently high occupancy and "excellent" cash generation. Looking to the second half, Lockhart said cost inflation remains "significant" but added that firm is confident of achieving its goals in the medium term.

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XPS Pensions Group PLC - Reading, England-based pensions consulting and administration firm - In the half-year ended September 30, reports a pretax profit of GBP6.8 million, down 4.2% from GBP7.1 million the previous year. Explains that last financial year was the "strongest since listing in 2017". Also books exceptional and non-trading items totalling GBP7.0 million in the half, compared to GBP4.9 million the year prior. Revenue jumps to GBP77 million from GBP67.3 million thanks to high levels of client activity and inflationary fee increases. Declares an interim dividend of 2.7 pence, up 13% against 2.4p the year prior. Reports a "strong" start to its second half and says it is confident of achieving full-year results "slightly ahead" of its previous expectations for the year.

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Adams PLC - Douglas, Isle of Man-based investment firm primarily focused on special situation investment opportunities in the small to middle-market capitalisation sectors in the UK or Europe - In the six months ended September 30, narrows widens its pretax loss to GBP1.0 million from GBP648,000 the previous year. Explains that the widened loss reflects "continuing difficult financial market conditions", an investment return loss and its overhead costs. Posts an investment return loss of GBP947,000, widened from GBP567,000 the year prior. Firm's total investment carrying value at September 30 is GBP6.3 million, compared to GBP6.6 million at March 31.

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Grafenia PLC - Manchester-based printing and software company - Narrows its pretax loss to GBP503,000 in the six months ended September 30, from GBP783,000 the year prior. Revenue dips to GBP5.8 million from GBP6.3 million a year prior following the disposal of Works Manchester at the end of May. Revenue from continuing operations climbs to GBP5 million from GBP4.4 million. Notes that current trading is outperforming the same period last year, with November looking to continue that trend. Says it is "difficult" to foresee how business confidence will be impacted by the current economic climate but adds that sales are still in-line with current internal forecasts.

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By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Grafenia to raise GBP27.9 million to pursue further growth

Grafenia PLC - Manchester-based printing and software company - Plans to raise GBP23.0 million via a placing and subscription at 8.5p per share, and GBP4.9 million through an open offer to shareholders at the same price. Proceeds will fund future acquisitions, repurchase some of the company's existing bond arrangements and pay deferred consideration on previous acquisitions.

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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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IN BRIEF: Grafenia says waiting for payment for Works disposal

Grafenia PLC - Manchester-based printing and software company - Says it has not received payment of a deferred consideration for a disposal that took place last year. Last May, the firm sold its wholly-owned subsidiary Works Manchester Ltd and some of the business and assets of its wholly-owned subsidiary Grafenia Operations Ltd for GBP3.2 million to Rymack Sign Solutions Ltd, which trades as PFI Group. As part of the sale, four instalments of GBP766,250 were due on the first, second, third and fourth anniversaries of completion. The amount for the first instalment has since been adjusted down to GBP514,223.

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3 May 2023 17:57

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

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17 Feb 2023 13:37

Grafenia buys Irish property management software firm Topfloor Systems

(Alliance News) - Grafenia PLC on Friday said it has acquired Topfloor Systems Ltd, a Dublin-based company, for EUR6.2 million in cash.

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Grafenia buys Care Management for GBP3.5 million cash consideration

(Alliance News) - Grafenia PLC on Wednesday said it bought the entire share capital of Care Management Systems Ltd for a total cash consideration of GBP3.5 million.

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TRADING UPDATES: Ryanair extends CEO contract; Sovereign eye demerger

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

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27 Sep 2022 21:54

TRADING UPDATES: Pendragon to assess options; Grafenia issues bonds

(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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22 Sep 2022 22:14

TRADING UPDATES: Prospex Energy profit up; Petro Matad widens loss

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7 Sep 2022 15:54

UK shareholder meetings calendar - next 7 days

Thursday 8 September 
Atlantis Japan Growth Fund LtdAGM
Aston Martin Lagonda Global Holdings PLCGM proposed equity capital raise
Caretech Holdings PLCGM takeover by Sheikh Holdings Group
Chariot LtdAGM
Chelverton UK Dividend Trust PLCAGM
Currys PLCAGM
Euromoney Institutional Investor PLCGM re takeover offer by Astorg and Epiris
Gabelli Merger Plus+ Trust PLCGM tender offers
Invesco Asia Trust PLCAGM
LendInvest PLCAGM
Lindsell Train Investment Trust PLCAGM
Montanaro European Smaller Cos Trust PLCAGM
Polar Capital Technology Trust PLCAGM
ScotGems PLCGM re voluntary liquidation
Semper Fortis Esports PLCAGM
Severfield PLCAGM
Speedy Hire PLCAGM
SysGroup PLCAGM
WH Ireland Group PLCAGM
XPS Pensions Group PLCAGM
Friday 9 September 
Baillie Gifford UK Growth Trust PLCAGM
BH Macro LtdAGM
CLS Holdings PLCGM re tender offer
Gear4Music Holdings PLCAGM
Newcrest Mining LtdAGM
Pensana PLCAGM
ReNeuron Group PLCAGM
SVM UK Emerging Fund PLCAGM
Victoria Oil & Gas PLCAGM
Voyager Life PLCAGM
Monday 12 September 
Haydale Graphene Industries PLCGM re fundraising
SDCL Energy Efficiency Income Trust PLCAGM
Warehouse REIT PLCAGM
Tuesday 13 September 
Alpha Financial Markets Consulting PLCAGM
Industrials REIT LtdAGM
Mercia Asset Management PLCAGM
R&Q Insurance Holdings LtdSGM
Rockwood Strategic PLCAGM
Wizz Air Holdings PLCAGM
Wednesday 14 September 
Augmentum Fintech PLCAGM
B90 Holdings PLCAGM
Best of the Best PLCAGM
Dev Clever Holdings PLCAGM
Fulcrum Utility Services LtdAGM
Grafenia PLCAGM
Hornby PLCAGM
Marlowe PLCAGM
Purplebricks Group PLCAGM
Sutton Harbour Group PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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27 Jul 2022 12:01

EARNINGS UPDATES: Yourgene posts record revenue; Solid State payout up

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

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19 May 2022 17:04

IN BRIEF: Grafenia pivots to software licencing following disposals

Grafenia PLC - Manchester-based printing and software company - Sells its wholly-owned subsidiary Works Manchester Ltd and some of the business and assets of its wholly-owned subsidiary Grafenia Operations Ltd for GBP3.2 million to Rymack Sign Solutions Ltd. Company says the consideration will be paid in several instalments. The disposal is expected to be finalised within three to four weeks. Says the disposal will see the company transition to a software licensing business.

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6 Apr 2022 14:50

IN BRIEF: Grafenia looks to new year with cautious optimism

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