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Pin to quick picksGunsynd Share News (GUN)

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TRADING UPDATES: Strong interims for Record, Calnex and Victoria

Tue, 23rd Nov 2021 17:51

(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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Record PLC - Berkshire, England-based specialist currency manager - For the six months ended September 30, pretax profit more than doubles to GBP5.2 million from GBP2.6 million, on revenue growing 38% year-on-year to GBP16.3 million from GBP11.8 million. Growth was buoyed by a 5.0% increase in assets under management equivalents to USD84.1 billion as at September 30 from USD80.1 billion at the end of March, with net inflows reaching USD1.9 billion, mainly on new client mandates. Declares interim dividend of 1.80 pence per share, up 58% from 1.15p a year prior.

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TT Electronics PLC - Woking, England-based electronic resistor manufacturing company - For the four months ended October 31, revenue rises 11% higher year-on-year on constant currency basis, as order intake runs well ahead with book to bill of 140%. Order book stands at record levels, and provides strong visibility into 2022. Looking ahead, expects adjusted operating profit to be around GBP35 million for 2021, up 27% from GBP27.5 million.

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Calnex Solutions PLC - provider of test and measurement solutions for the telecommunications sector - For the six months ended September 30, pretax profit rises 18% to GBP2.3 million from GBP2.0 million the same period a year before, on revenue which grew 20% year-on-year to GBP9.3 million from GBP7.7 million, driven by strong demand for telecoms testing equipment. Declares maiden interim dividend of 0.28 pence per share in line with company's intent to implement a progressive dividend policy for the current financial year. Looking ahead, Calnex is confident in meeting market forecasts for the year.

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Appreciate Group PLC - Liverpool-based prepaid card operator - For the six months ended September 30, pretax loss narrows to GBP2.0 million from GBP6.2 million a year before, on revenue which rose 50% year-on-year to GBP41.0 million from GBP24.4 million, due to the realisation of redemptions, which had been deferred due to the lockdown. Compared to the first half of the 2019 financial year, revenue was up 24% from GBP33.2 million. In addition, billings increased 20% to GBP118.2 million from GBP98.8 million a year prior. Declares interim dividend of 0.6 pence per share, up 50% from 0.4p a year before.

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M&C Saatchi PLC - London-based advertising agency - Continues to trade well since last update on September 21. Expects headline pretax profit for 2021 to be ahead of consensus expectations, with both revenue and operating profit margin to beat market forecasts, as a result of strong new business wins.

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Accsys Technologies PLC - wood building products manufacturer - For the six months ended September 30, swings to pretax loss of EUR185,000 from a profit of EUR961,000 a year before, driven by higher operating costs, even as revenue grew 31% year-on-year to EUR56.2 million from EUR42.9 million. Sales volumes increased to 29,555 cubic metres from 26,422 cubic metres a year prior. Looking ahead, expects to meet market expectations, and for the longer term expects further demand for company products.

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Victoria PLC - Worcestershire-headquartered flooring firm - For the six months ended October 2, swings to pretax profit of GBP2.9 million from a loss of GBP4.7 million a year before, driven by a 60% year-on-year rise in revenue to a record GBP489.0 million from GBP305.5 million, due first to the prior period being affected by lockdowns, and contributions from recent acquisitions. Looking ahead, despite expectations of inflation impacting the cost of good sold, still anticipates the next 12 months to be another period of "positive wealth creation" for shareholders.

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Triple Point VCT 2011 PLC - small and medium sized enterprises investor - Venture Share class completes five investments since the end of August for GBP2.3 million, and now holds 30 portfolio companies.

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Gunsynd PLC - London-based investment firm - For the year ended July 31, pretax profit was GBP2.0 million, swinging from loss of GBP991,000 the year before, as income hiked to GBP2.6 million from GBP167,000 on gains from financial investments.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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