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(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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Digitalbox PLC - Bath, England-based mobile-first digital media business - Reports revenue of GBP1.3 million for the six months to June 30, up 37% from a prior year's GBP1.0 million. The company swings to pretax profit of GBP99,000 from GBP102,000 loss a year ago. Digitalbox says increased auction competition for high-quality mobile inventory has fueled growth in session values across the portfolio. Trading has remained strong since the end of the first ahlf, with the positive trend in the advertising market continuing alongside some very strong traffic attached to some seasonal TV shows.
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Itaconix PLC - London-based functional polymers company - Says revenue totalled USD1.4 million for the six months to June 30, 26% higher than in the first half of 2020. Due to customer ordering patterns, the first half of 2021 revenue was 36% lower than in the second half of 2020. The company records pretax loss of USD178,000, narrowed versus USD813,000 posted a year ago. Revaluation of the contingent consideration liability as a non-cash item contributed USD500,000 to this decrease. "Underlying consumer demand for our products and new application developments are generating new customers and revenue potential for 2022," notes Chief Executive John Shaw.
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Anemoi International Ltd - British Virgin Islands-based acquisitions company - Continues to review potential transactions and looks forward to the second half of 2021. For the six months to June 30 reports pretax loss of GBP122,869 versus GBP195,297 a year prior.
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Powerhouse Energy Group PLC - Chester, England-based hydrogen production company from waste plastic and used tyres - Reports revenue growth for the six months to the end of June to GBP373,306 from GBP100,000 a year earlier. Pretax loss, meanwhile, widens to GBP1.0 million from GBP894,022 in the first half of 2020, as administrative expenses grow to GBP1.1 million from GBP643,503 year-on-year. "Powerhouse has made great progress in the first half of this year, bolstering the technical and management teams and acquiring a stake in Engsolve, the engineering consultancy. This progress supports our top priority, the building of our first commercial scale plant at the Protos Energy Park in Ellesmere Port, Cheshire," says Chair James Greenstreet.
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Drumz PLC - London-based investment company - Reports revenue of GBP18,000 for the six months to June 30 versus none posted a year before. At June 30 the two principal assets of the company were its holding in Acuity Risk Management Ltd, a business specialising in risk management and cybersecurity, and KCR Residential REIT PLC, a company which owns rented property in the private rented residential sector. Drumz explained that principally as a result of the KCR book loss, Drumz's pretax loss amounted to GBP261,000. This is narrowed from GBP450,000 posted a year earlier.
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UK Commercial Property REIT Ltd - London-based investment trust - Reports net asset value total return of 6.0% for the six months to June 30, with the portfolio value increasing against the backdrop of an improving economic outlook and driven by the company's overweight position in industrial and logistics. The trust's portfolio is now valued at GBP1.21 billion and is positively aligned to sectors forecast to outperform. NAV per share as at June 30 stood at 90.2p compared to 86.7p at the end of 2020. The company proposed a 40% increase in quarterly dividend to 0.644p for the first two quarters of 2021, compared to the second half of 2020.
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Chapel Down Group PLC - Ashford, England-based beverage company - Says it is now entirely focused on growth in the English wine industry having exited the Beer & Cider business in April. The sale resulted in an improvement in the company's net debt position by GBP7.2 million on completion. The company reports revenue increase by 35% in the six months to June 30 to GBP8.1 million from GBP6.0 million a year earlier. Pretax loss narrows to GBP557,412 from GBP1.3 million a year prior. "We are comfortable that the full year results will be in line with the Board’s expectations and expect to see strong growth continuing over the medium term. We look to the future with optimism and confidence," says Chief Executive Frazer Thompson.
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Next Fifteen Communications Group PLC - London-based media company - Reports strong performance in the six months to July 31, driven by double digit net revenue growth across all four business segments. Revenue in the half-year rose to GBP165.9 million, up 32% from GBP126.2 million posted a year ago. Pretax profit rises by 69% year-on-year to GBP35.0 million from GBP20.7 million, The company declares dividend of 3.6p per share versus none paid a year ago. Next Fifteen says its strong trading has continued into the third quarter of its current financial year, and it is currently seeing no sign of a slowdown in client demand.
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Starcrest Education The Belt & Road Ltd - developer and operator of education services in Europe - Reports narrowed pretax loss for the six months to June 30 of GBP415,827 compared to GBP1.0 million posted a year before, reflecting higher administrative expenses. "Throughout the period, the Company remained proactively seeking acquisition targets that fit with its search criteria and offer attractive growth potential and returns," says Non-Executive Chair John McLean. As a result of these efforts, Starcrest signed heads of terms for the acquisition of National Training Co Ltd. However, the company notes there can be no guarantee at this stage that the proposed transaction will complete.
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Crystal Amber Fund Ltd - Guernsey-based investment company - Says net asset value per share grew by 39% to 146.81p as at June 30 from 106.02p a year before and 128.99p at the end of 2020. During the period, the company says it exited several positions upon completion of activist strategy or on revaluation, including Redde Northgate, STV Group and Kenmare Resources. Crystal Amber Fund increased its cash returns to shareholders, with GBP6.9 million spent on share buybacks and GBP2.1 million on an interim dividend. A further dividend of GBP2.1 million was paid in August, bringing cash returns since July 2020 to GBP11.1 million equivalent to 13p a share.
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Gowin New Energy Group Ltd - investment company - Reports pretax loss of CNY1.6 million, about GBP185,000, for the six months to June 30, widened from CNY1.8 million posted a year ago. Gowin has historically been engaged in the sale and investment of LED related products based in Taiwan. The trust has a minority interest in a Taiwan-based company, Taiwan Thick-Film Industries Corp, which is principally engaged in the manufacture and sales of LED backlight modules and components distributed primarily in the Asia market. In addition, the company says it is working to formally launch the tea business, subject to improved Covid-19 conditions in both China and Taiwan.
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Pharma C Investments PLC - London-based investment company - Reports widened pretax loss for the six months to June 30 of GBP247,000 versus just GBP9,000 a year before. During the half-year, Pharma C has been focusing on shortlisting a number of deals in the ancillary space and sourcing the right investment.
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HeiQ PLC - Zurich, Switzerland-based textiles company - Says revenue for the six months to June 30 totals USD25.8 million, a decrease compared to a USD30.1 million generated a year ago. More positively, the company says customer base more than doubled organically, especially in Greater China where 140 new mills were added. The company's pretax income declined to USD3.4 million from USD10.6 million year-on-year as selling and general administrative expenses grew to USD10.6 million form USD7.2 million. "We are actively engaged in a number of significant projects, which would have an impact on the outcome for the full year," notes Co-Founder & CEO Carlo Centonze.
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Mode Global Holdings PLC - London-based fintech company - Reports revenue growth in the six months to June 30 to GBP814,000 from GBP29,000 a year ago, thanks to growth in trading volumes and increased payment volumes of Global Services. However, pretax loss widened to GBP3.9 million from GBP1.9 million year-on-year, as administrative expenses jumped to GBP4.0 million form GBP1.7 million. "2021 has been a transformational year and, after a successful period of investing in our people and products, we are now moving at pace. We have successfully built a strong platform of regulated and innovative products to drive growth," says CEO Ryan Moore.
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Thalassa Holdings Ltd - British Virgin Islands-based investment company - Reports revenue of USD169,768 for the six months to June 30 compared to USD269,327 posted a year prior. The company swings to a pretax loss of USD1.1 million form USD611,908 profit recorded in the first half of 2020. Thalassa booked a net financial expense of USD12,814 in the first six months of 2021 versus USD2.4 million net financial income a year prior.
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Ergomed PLC - Guildford, England-based clinical services provider - Reports total revenue growth of 39% in the first six months of 2021 to GBP56.0 million. On a constant currency basis, revenue rose by 48% year-on-year. Net new sales awards in half-year increased by 51% over the first half of 2020. Ergomed says it continues its international expansion with growing presence in the US. Pretax profit in the first half of 2021 rose to GBP8.3 million from GBP6.0 million a year ago. "Global demand for our services continues to strengthen and our confidence in the long-term growth of the company is underpinned by the buoyant markets in which we operate, our acquisition strategy, and the robust platform provided by our order book and balance sheet," says CEO Miroslav Reljanovic.
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Tiger Royalties & Investments PLC - investor in resource sector - Reports a swing to a pretax profit of GBP291,874 for the six months to June 30 from GBP221,138 loss posted a year earlier due to a changes in fair value of investments. The company notes that its first half was one of the best periods in the natural resource sector for many years with a resurgence in interest in both the junior explorers and major mining companies. The price of oil has been generally bullish. Tiger Royalties says it sees the coming months experiencing a renewed interest in the natural resource sector and anticipate valuations in the foreseeable future to be higher than those currently witnessed.
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Ceiba Investments Ltd - Guernsey-based closed-end fund - Reports NAV per share as at June 30 of 94.7p versus 103.8p recorded at the end of 2020. Share price at the end of the first half of 2021 stood at 70.5p, representing a 26% discount to NAV. Total income was USD1.6 million, compared to USD7.6 million for the first half of 2020, representing a 79% decline, largely attributable to a fall in dividend income.
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Zegona Communications PLC - investor in European telecommunications, media and technology sectors - Reports pretax loss of EUR25.6 million for the six months to June 30 compared to EUR1.3 million loss posted a year earlier, as incentive scheme costs jumped to EUR21.1 million from EUR44,000 a year ago. Zegona has made two dividend payments in 2021, with 2.2p per share paid on 9 March and a further 2.6p per share paid on July 23. "We see a very healthy environment for investments across the broader European TMT industry. The market is large and fragmented, with well over 100 European operators, of which over half fit our desired investment scale," notes Chair & CEO Eamonn O'Hare.
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Invinity Energy Systems PLC - Jersey-based manufacturer of vanadium flow batteries - Reports revenue decline to GBP15,000 for the six months to June 30 from GBP67,000 posted a year earlier. Pretax loss, meanwhile, widens to GBP8.8 million from GBP5.0 million year-on-year. "We spent the period building Invinity's ability to address the global opportunities for non-lithium energy storage now and for years to come. This vital 'behind the scenes' work is paying off as we establish Invinity as foremost in providing a factory-built flow battery product, progressing to our goal of being the global leader in utility-grade energy storage," says CEO Larry Zulch.
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Prospex Energy PLC - Hatfield, England-based investment company - Reports swing to a pretax profit of GBP129,356 in the six months to June 30 from GBP1.0 million posted a year earlier. The move comes amid gain on revaluation of investments and loans of GBP488,335 versus GBP664,949 loss posted for the first half of 2020. Going forward, CEO Mark Routh said: "The Company will target appraisal and development assets not exploration. We will be evaluating assets already in production for acquisition at fair market value."
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Edenville Energy PLC - developer of Tanzania's Brownfield Rukwa coalfields - Reports revenue growth to GBP27,752 in the six months to June 30 form GBP16,003 posted a year earlier. Pretax loss, meanwhile, narrows to GBP587,354 from GBP6338,198 year-on-year. Edenville notes the first half of 2021 has seen a significant positive change in prospects for the company amid an increase in coal prices globally, with this trend continuing post period also. This has led to renewed interest in the supply of coal from the company's flagship Rukwa project.
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Mortgage Advice Bureau Holdings PLC - Derby, England-based mortgage advice provider - Reports revenue growth in the six months to June 30 to GBP92.4 million from GBP63.5 million posted a year prior. Pretax profit increased to GBP10.8 million from GBP6.1 million year-on-year. The company declares interim payout of 13.4p per share versus none paid a year before. Mortgage Advice Bureau says average number of mainstream advisers up 13% year-on-year to 1,584 from 1,396. Gross mortgage completions - including product transfers - up 48% in the first half of 2021 to GBP11.0 billion from GBP7.5 billion a year prior.
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GCP Asset Backed Income Fund Ltd - Jersey-based investment firm - Reports NAV per share as at June 30 of 102.71p, up from 100.83p posted a year earlier. The company proposes an increase in interim dividend to 3.15p from 3.10p paid for the first half of 2020. The company notes value of its investments grew to GBP476.5 million as at June 30 from GBP429.5 million a year earlier.
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Serica Energy PLC - London-based oil & gas company - Reports sales revenue of GBP100.8 million for the six months to June 30 compared to GBP46.0 million posted a year earlier. Pretax profit, however, drops to GBP2.3 million from GBP20.4 million year-on-year amid jump in unrealised hedging expense to GBP30.3 million from GBP3.3 million. In addition, the company swings to realised hedging expense of GBP5.6 million from GBP11.7 million gain posted for the first half of 2020. ""In the current environment Serica's focus on gas production and investment in new projects is expected to generate very significant returns for shareholders and help support further investment," says CEO Mitch Flegg.
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Eqtec PLC - Cork, Ireland-based gasification solutions company - Reports revenue decline to EUR481,720 for the six months to June 30 from EUR770,308 million posted a year prior. Pretax loss widens to EUR4.0 million from EUR1.9 million year-on-year. The company reports an increase in administrative expenses to EUR2.3 million from EUR1.5 million in the first half of 2020. "Throughout the first half of 2021, we focused our efforts on building out our platform for growth and scale. We converted more opportunities into active projects, formalised local, joint venture partnerships, kicked off acquisition and development of market development centres and grew our team of experienced, project development experts to pursue more opportunities with quality and pace. As awareness and interest grows in gasification, we will be prepared to respond," says CEO David Palumbo.
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Northcoders Group PLC - Manchester, England-based training programmes provider - Reports revenue for the six months to June 30 of GBP1.1 million, up 55% from GBP698,000 posted a year earlier, despite teaching limited to "online only" for the majority of the period. The company swings to pretax profit of GBP18.4 million from GBP542,875 loss posted a year prior. Going forward, Northcoders says trading in the third quarter of 2021 continues at record levels and as of September 20, contracted bookings stood at GBP2.9 million, 96% of the target revenue for 2021.
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Ace Liberty & Stone PLC - London-based property company - Reports revenue of GBP6.2 million for the financial year to April 30. lower than GBP6.4 million posted for financial 2020. Pretax profit totals GBP1.4 million, swinging from a loss of GBP741,686 posted the year earlier. The swing to profit came amid a reduction of finance costs to GBP3.0 million from GBP4.7 million year-on-year. In addition, administrative costs fell to GBP1.4 million from GBP1.8 million in financial 2020. "We are confident Ace will continue to prosper in the coming year," says CEO Ismail Ghandour.
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Blancco Technology Group PLC - Bishop's Stotford, England-based provider of mobile device diagnostics - Reports revenue growth to GBP36.5 million in the financial year to June 30 from GBP33.4 million posted the year earlier. The company swings to pretax profit of GBP1.5 million from a loss of GBP179,000 posted for the financial 2020. Blancco says strong geographic reach benefits its performance, with particularly strong recovery in North American market. Looking ahead, the company says the new financial year has started positively, with increasing data privacy regulation and the imposition of significant financial penalties for breaches are anticipated to continue to drive growth.
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Advancedadvt Ltd - London-based acquisition vehicle - Reports pretax loss of GBP2.6 million for the financial year to June 30. The company started trading in London in March and since then remained focused on executing its objective to complete a business combination and generate attractive long term returns for shareholders.
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Transense Technologies PLC - Bicester, England-based wireless and passive sensor systems manufacturer - Reports revenue of GBP1.8 million for the financial year to June 30, up from GBP603,000 posted the year ago, thanks to royalty income from iTrack gathering momentum and new products in Translogik. Pretax profit totals GBP156,000, a swing from a loss of GBP1.1 million recorded for the financial 2020. "Trading since the period end is well ahead of prior year, and the directors continue to be optimistic about the outlook and prospects for the company," says Executive Chair Nigel Rogers.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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