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EARNINGS SUMMARY: Genel narrows loss; NAHL led by Personal Injury arm

Wed, 22nd Mar 2023 14:53

(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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Alpha Group International PLC - London-based provider of financial solutions to companies - Pretax profit in 2022 grows 42% to GBP47.2 million from GBP33.2 million in 2021, citing a "successful track record on investment". Revenue climbs 27% to GBP98.3 million from GBP77.5 million. Operating expenses increase 38% to GBP60.7 million from GBP44.1 million. Declares a final dividend of 11.0 pence per share, up 38% from 8.0p a year ago. Brings total dividend to 14.4p, 31% higher than 11.0p a year prior. Notes that its operations have been unaffected by uncertainty within the banking sector. Says trading since start of 2023 has been positive and in line with its own expectations. Adds that it is confidence in delivering "strong" revenue and profit growth.

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Atalaya Mining PLC - Cyprus-based copper producer - Pretax profit falls to EUR32.3 million in 2022 from EUR159.8 million in 2021, blaming an increase in electricity costs. Revenue declines 11% to EUR361.8 million from EUR405.7 million. Operating costs balloon 48% to EUR306.5 million from EUR206.6 million. Copper concentrate output falls to 249,543 tonnes from 270,713 tonnes a year prior. All-in sustaining cost per pound of copper increases 36% to USD3.37 from USD2.48. Trims final dividend by 2.5% to USD0.0385 per share from an inaugural payout of USD0.0395 a year ago, bringing the total dividend to USD0.0745 for 2022. Looking ahead, anticipates improved performance in 2023 amid expected lower electricity prices. Estimates a 2023 copper production of 53,000 to 55,000 tonnes at all-in sustaining cost of USD3.00 to USD3.20 per pound of copper, compared to 53,323 tonnes at all-in sustaining cost of USD3.37 in 2022.

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Genel Energy PLC - Oil company with exploration and production operations in northern Iraq - Pretax loss in 2022 narrows significantly to USD7.1 million from USD307.8 million in 2021, boosted by higher oil prices as revenue climbs 29% to USD432.7 million from USD334.9 million. Average Brent oil price increases 42% to USD101 per barrel from USD71. Declares final dividend of 12 US cents per share, bringing the total to 18 US cents, both unchanged from a year prior. Looking into 2023, Genel continues to see a long-term oil price that is supportive to its business, while "remaining resilient to volatility" faced by the sector.

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Kakuzi PLC - Nairobi-based agricultural company - Pretax profit in 2022

climbs to KES1.22 billion, about GBP7.6 million, from KES471.6 million a year prior. Sales grow 35% to KES4.43 billion from KES3.30 billion. Proposes dividend of KES24.00 per share, about 15 pence, up from KES22.00 a year ago.

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NAHL Group PLC - Northamptonshire, England-based insurance claims management - Pretax profit in 2022 climbs to GBP569,000 from GBP235,000 a year ago, boosted by Personal Injury business. Revenue grows to GBP41.4 million from GBP38.9 million. Personal Injury business revenue rises 14% to GBP24.0 million from GBP21.0 million. Declares no dividend, unchanged. Says started 2023 with momentum and cautiously optimistic that it is well placed to continue growth and "strong" cash generation. However, notes higher borrowing costs due to increased UK interest rates. Looking ahead, company aims to increase advertising spend on Personal Injury business in 2023, while anticipating strong growth in expert witness services in its Critical Care Unit.

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Tap Global Group PLC - offers regulated crypto app that helps bridge gap between traditional finance and blockchain technology by providing fiat banking and crypto settlement services - Pretax loss in the six months to December 31 narrows to GBP298,992 from GBP321,792 a year prior. Turnover remains insubstantial at GBP40,000, down from GBP50,000. Administrative expenses decrease to GBP338,992 from GBP371,792. Tap Global says it is focused on organic growth of its user base and geographical expansion beyond Europe.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
6 Dec 2023 12:01

IN BRIEF: Kakuzi expects full-year earnings drop on Macadamia decline

Kakuzi PLC - Nairobi-based plantation operator - Says full-year net earnings may be at least 25% lower year-on-year from KSHS845.8 million, or GBP1.7 million, driven by loss in its Macadamia business due to a"significant decline" in demand and price in China, Japan and the US. However, Kakuzi says other crops are performing as expected and anticipates a strong performance from its Avocado business.

Read more
25 Aug 2023 12:34

IN BRIEF: Kakuzi profit hurt by macadamia glut; avocado market blooms

Kakuzi PLC - Nairobi-based plantation operator - Says in the six months to June 30, pretax fell by 66% to KSHS117.5 million, or GBP642,203, from KSHS341.3 million a year prior, while revenue plummeted to KSHS873.2 million from KSHS1.03 billion the year before. Adds earnings per share dropped 66% to KSHS5.99 from KSHS17.41 a year ago. Notes challenging macadamia markets due to a surplus, but says avocado profits more than doubled to KSHS654.8 million from KSHS288.8 million the year before.

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9 May 2023 15:45

UK shareholder meetings calendar - next 7 days

Wednesday 10 May 
abrdn PLCAGM
Antofagasta PLCAGM
Cenkos Securities PLCAGM
Ecora Resources PLCAGM
H&T Group PLCAGM
Harbour Energy PLCAGM
Jupiter Fund Management PLCAGM
Literacy Capital PLCAGM
Luceco PLCAGM
Marshalls PLCAGM
National Express Group PLCAGM
Renewables Infrastructure Group LtdAGM
Rentokil Initial PLCAGM
Seplat Energy PLCAGM
Spirax-Sarco Engineering PLCAGM
TClarke PLCAGM
Thursday 11 May 
88 Energy LtdAGM
Cairn Homes PLCAGM
Capita PLCAGM
Clarkson PLCAGM
Costain Group PLCAGM
Eleco PLCAGM
Eurocell PLCAGM
FBD Holdings PLCAGM
Genedrive PLCGM re equity prepayment facility
Genel Energy PLCAGM
Gresham House PLCAGM
Gym Group PLCAGM
Hiscox LtdAGM
Irish Continental Group PLCAGM
John Wood Group PLCAGM
MyHealthChecked PLCAGM
OSB Group PLCAGM
Poolbeg Pharma PLCAGM
Rolls-Royce Holdings PLCAGM
Serinus Energy PLCAGM
Uniphar PLCAGM
Videndum PLCAGM
WAG Payment Solutions PLCAGM
Friday 12 May 
Balfour Beatty PLCAGM
Derwent London PLCAGM
Goodbody Health LtdAGM
GreenRoc Mining PLCAGM
Hutchmed (China) LtdAGM
Itim Group PLCAGM
Itsarm PLCGM re delisting from AIM
Wheaton Precious Metals CorpAGM
Monday 15 May 
GCP Asset Backed Income Fund LtdAGM
Tuesday 16 May 
accesso Technology Group PLCAGM
Chesnara PLCAGM
Dialight PLCAGM
Equals Group PLCAGM
Essentra PLCAGM
FDM Group Holdings PLCAGM
iEnergizer LtdGM re proposed cancellation of admission to trading on AIM
IQGeo Group PLCAGM
Kakuzi PLCAGM
PYX Resources LtdAGM
Synthomer PLCAGM
TI Fluid Systems PLCAGM
Vector Capital PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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23 Mar 2022 18:07

EARNINGS UPDATES: Surgical Innovations and KRM22 narrow loss in 2021

(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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6 Jan 2022 16:18

Kakuzi earnings drop due to low avocado yields and low EU prices

Kakuzi earnings drop due to low avocado yields and low EU prices

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18 Aug 2021 15:28

IN BRIEF: Kakuzi interim profit rises despite sales dip, dim outlook

IN BRIEF: Kakuzi interim profit rises despite sales dip, dim outlook

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19 Mar 2021 15:22

IN BRIEF: Kakuzi ups payout despite hurt profit on legal proceedings

IN BRIEF: Kakuzi ups payout despite hurt profit on legal proceedings

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2 Nov 2020 16:54

UK EXECUTIVE CHANGE SUMMARY: Kakuzi Acts To Prevent Human Rights Abuse

UK EXECUTIVE CHANGE SUMMARY: Kakuzi Acts To Prevent Human Rights Abuse

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19 Aug 2020 10:29

Kakuzi First Half Hit By Tea Glut And Avocado Market Lockdown Hurt

Kakuzi First Half Hit By Tea Glut And Avocado Market Lockdown Hurt

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19 Feb 2020 12:40

Kakuzi Non-Executive Director Kenneth Tarplee Dies

Kakuzi Non-Executive Director Kenneth Tarplee Dies

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15 Aug 2019 11:05

Camellia Ups Interim Dividend Despite Tea Price Fall Hurting Trading

(Alliance News) - Agriculture firm Camellia PLC on Thursday raised its dividend despite interim revenue declining amid a fall in tea prices.In the six months to June 30, pretax profit fell

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29 Mar 2019 10:58

Kakuzi Annual Profit Drops On Lower Avocado Prices, Oversupply

LONDON (Alliance News) - Kenyan plantation owner Kakuzi Ltd on Friday reported a drop in profit for 2018 due to lower avocado prices.For the year, Kakuzi posted a pretax profit of KES684.1

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15 Aug 2018 11:03

Kakuzi Interim Profit Jumps Though It Warns On Unpredictable Outlook

LONDON (Alliance News) - Kakuzi PLC on Wednesday reported a rise in both interim revenue and profit, but warned the second half of 2018 will be difficult to predict.Kenya-based Kakuzi, is a

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17 Mar 2016 11:06

Kakuzi Profit And Revenue Up On Good Avocado, Tea And Tree Sales

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