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Pin to quick picksMidwich Group Share News (MIDW)

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EARNINGS UPDATES: Parsley Box loss deepens on expenses; Boku profit up

Tue, 07th Sep 2021 11:10

(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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Parsley Box Group PLC - Edinburgh, Scotland-based cupboard stored meals firm - Pretax loss widens in first half of 2021 to GBP5.4 million from GBP1.0 million a year prior. Revenue increases to GBP14.0 million from GBP11.1 million. Marketing expenses rose to GBP4.9 million from GBP2.4 million, while IPO expenses knocked off GBP1.1 million in a ounce-off payment. No dividend was declared, unchanged from last year. "Higher price point and new product range expected to deliver further growth in second half 2021," says company.

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Boku Inc - San Francisco, California-based mobile payments - Sees pretax profit in first half of 2021 soar to USD1.9 million from USD87,000 a year ago. Revenue rises to USD34.2 million from USD24.7 million. Says both the Payments and Identity divisions are performing strongly, adding there is "substantial opportunity" to expand its Payments division. "Our short run performance has been strong, we think our long-term future is brighter still. With positive momentum in both the Payments and Identity businesses, I am confident in our ability to meet the revised, increased expectations over the full year," says Chief Executive Kon Prideaux.

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Trian Investors 1 Ltd - offers exposure to investment activity of Trian Investors Management LLC - Reports net asset value per share at June 30 of 170.42 pence, rising from 150.57 pence on December 31. Does not declare an interim dividend after paying out a total of GBP1.4 million last year. "The investment manager has a high degree of conviction in the company's trajectory, especially in light of the recent revisions to the company's policies and guidelines, which is why Trian's partners and their affiliates recently invested significantly more of their capital into Shares of the company through Trian Subscriber," says company.

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Flowtech Fluidpower PLC - supplier of technical fluid power products - Reports pretax profit of GBP2.3 million in six months to end-June, swinging from a GBP929,000 loss a year before. Revenue increases to GBP55.3 million from GBP46.6 million. "We remain encouraged by the way the fluid power distribution market continues to recover. The volatility of global supply chains will continue to be a challenge in the short-term, however we expect our FY2021 result to be in line with current market guidance," says company. "The board remains determined to reintroduce a final dividend payment for the financial year 2021," company adds.

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Concurrent Technologies PLC - Colchester, Essex-based maker of embedded computer boards - Reports rise in pretax profit to GBP1.6 million in first half of 2021, up from GBP1.2 million a year ago. Net operating expenses fall to GBP3.4 million from GBP3.6 million. Revenue increases to GBP9.3 million from GBP9.2 million. Increases interim dividend to 1.15 pence per share from 1.10p a year prior. "Even in the face of unprecedented worldwide supply chain disruption, the first half performance has been robust with sales at 2020 levels, improved margins, a strengthened balance sheet, and a record order book ensuring the pipeline of future profitability. There remains uncertainty on the timing of some shipments in Q4 2021 and into 2022, driven by component availability, which may slip revenues into 2022 but there is no evidence yet of cancellations from customers," says company.

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Midwich Group PLC - Diss, England-based AV technology distributor - Swings to pretax profit in six months to June 30 of GBP7.1 million from GBP2.5 million loss a year ago. Revenue soars to GBP390.1 million from GBP302.0 million. Brings back interim dividend of 3.3 pence per share. "The board believes that the group's markets and business should continue to improve steadily across the remainder of 2021 and into 2022, although there remains a risk of negative impact due to further lockdowns," says company. Trading since the end of the first halfhas been in line with Board expectations, company adds.

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Michelmersh Brick Holdings PLC - West Sussex-based brick maker - Pretax profit more-than-doubles in first half of 2021 to GBP5.0 million from GBP2.0 million a year prior. Revenue jumps to GBP29.9 million from GBP22.5 million. Declares interim dividend of 1.15 pence per share, compared to nothing a year prior. Notes commitment to a progressive dividend policy going ahead. "Following a very strong first half in 2021, and with a robust and balanced forward order book, Michelmersh can look forward to continued positive trading for the remainder of the current financial year," says company.

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Pebble Group PLC - Manchester-based technology and services for promotional products industry - Pretax profit for six months to June 30 rises to GBP1.9 million from GBP593,000 a year prior. Revenue increases to GBP46.8 million from GBP33.6 million. "On admission to AIM in December 2019, the Group's stated intention was to make dividend payments of c.30% of profit after tax. This policy remains in place. However, as we believe the opportunities ahead of us are significant, in particular investment in Facilisgroup, we have taken the decision to retain cash in the business and not to pay an interim dividend in 2021," says company. Expects financial 2021 to "be at least in line with market expectations".

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Maintel Holdings PLC - London-based cloud and managed service provider - Swings to pretax profit in first half of 2021 of GBP3.8 million from a GBP799,000 loss a year prior. Revenue rises marginally to GBP53.5 million from GBP53.4 million. Administrative expenses fall to GBP10.9 million from GBP16.5 million. Does not declare an interim dividend, unchanged from last year. "Maintel had a solid first half and has continued its transition to a cloud and managed services business," says company. On track to hitting guidance targets issued in January.

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By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Midwich flags record-breaking revenue in 2023

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Midwich buys distributor of audio products prodyTel Distribution

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