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EARNINGS: Anglo-Eastern Plantations lifts dividend; profit falls

Tue, 30th Apr 2024 21:56

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

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Fadel Partners Inc - New York-based media rights and royalty management software developer - Revenue up 10% to USD14.5 million in 2023 from USD13.2 million a year earlier. "We have had an encouraging start to 2024 with strong bookings in Q1, however in line with an acceleration towards SaaS revenue by virtue of expected growth in the Brand Vision and LicenSee product lines, we now expect that reported revenue for 2024 will be behind previous market expectations. Revenue from our SaaS offerings will be an increasingly important key financial reporting metric for the Company," says Chief Executive Tarek Fadel.

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Strip Tinning Holdings PLC - Birmingham, England-based provider of connection systems to automotive sector - Revenue in 2023 rises to GBP10.8 million from GBP10.2 million a year earlier. Pretax loss narrows to GBP1.7 million from GBP5.5 million. Looking ahead, notes "strong momentum already demonstrated in 2024." Anticipates securing further major programmes across its Battery Technologies and Glazing product lines throughout 2024, with a significant new Cell Contact System win for the Battery Technologies division expected in the first half of the year. Executive Chair Adam Robson comments: "We are delighted with the progress we have made in stabilising our operations during FY23, driven by the improvements and reorganisations implemented in 2022 and into 2023."

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Amicorp FS (UK) PLC - international specialist fund services group - Revenue increases by 7.6% to USD12.8 million in 2023 from USD11.9 million a year earlier. Pretax profit falls to USD653,000 from USD3.1 million. Payroll and remuneration costs increase to USD7.2 million from USD5.4 million; other operating expenses increase to USD1.6 million from USD692,000. Looking ahead, says outlook "remains positive." Non-Executive Chair Toine Knipping says: "Following our successful move to the London Stock Exchange in June 2023, I am pleased to report on progress across the business for our maiden set of full year results. During the past twelve months, AMIF achieved a number of important strategic milestones, including continued geographic expansion with new office opened in Brazil, completion of demerger in Luxembourg and application for licences to operate in Dubai and Astana."

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Sivota PLC - investor in later-stage Israeli technology firms - Revenue in 2023 falls to USD5.6 million from USD5.9 million a year earlier. Pretax loss widens to USD12.3 million from USD5.1 million. Looking ahead, Sivota says: "Sivota remains well-positioned to capitalise on new and attractive investment opportunities within the Israeli technology marketplace. Although, we remain cognisant of the heightened risk in technology markets in general and the company's target market."

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African Pioneer PLC - natural resource explorer and developer focused on Sub-Saharan Africa - Total income in 2023 comes in at GBP34,799, swinging from a loss of GBP70,926 a year ago. Pretax loss widens to GBP689,213 from GBP670,871. Administrative costs climb to GBP724,012 from GBP599,965.

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Kanabo Group PLC - London-based healthcare technology and cannabis company - Revenue increases by 48% to GBP895,000 in 2023 from GBP603,000 a year earlier. Pretax loss narrows to GBP8.0 million from GBP8.9 million. CEO Avihu Tamir says: "Looking ahead, the future of Kanaboo is filled with promise and potential. We believe that our recent achievements position us well and setting the foundations for our growth in 2024 and beyond. We are confident in our ability to build a scalable business that meets our sector's demand and to seize growth opportunities."

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Hamak Gold Ltd - mining exploration and development company operating in Liberia - Operating loss narrows to USD660,000 in 2023 from USD3.7 million a year ago. Pretax loss narrows to GBP684,000 from GBP3.7 million. Executive Director Karl Smithson says: "The next phases of work will include detailed mapping and further trenching and channel sampling to help prioritise new drill targets aimed at intersecting gold mineralization that is clearly associated with the extensive 3km gold in soil anomaly and progress the Ziatoyah gold discovery towards the objective of resource status."

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MetalNRG PLC - London-based natural resources and energy-focused investor - Operating loss narrows to GBP1.6 million in 2023, from GBP1.7 million a year earlier. Pretax loss narrows to GBP1.5 million from GBP2.2 million.

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daVictus PLC - Subang Jaya, Malaysia-based investor, which is focused on Asia's food and beverage sector - Revenue in 2023 falls to GBP300,00, from GBP411,358 a year earlier. Pretax profit falls to GBP90,396, from GBP228,628. "Following a period of evaluation, we have found that providing restaurant management services represents a viable opportunity for revenue diversification. This strategic shift allows us to leverage our industry expertise and create additional value for our company," daVictus says. Looking ahead, says "remain cautiously optimistic about the future."

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Anglo-Eastern Plantations PLC - Indonesia and Malaysia-focused palm oil and rubber producer - Revenue in 2023 falls 17% to USD371.0 million from USD447.6 million a year earlier. Its pretax profit falls 41% to USD77.8 million from USD132.9 million. Explained that the fall is due primarily to the lower production and lower CPO prices. Anglo-Eastern lifts its annual dividend to 30.0 cents, from 25.0 cents.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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