(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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Epwin Group PLC - Solihull, England-based building products manufacturer - Revenue in six months to June 30 climbs 13% to GBP178.0 million from GBP157.8 million a year earlier. Pretax profit increases 20% to GBP7.9 million from GBP6.6 million. Lifts interim payout by 8.6% to 1.90 pence per share from 1.75p. "The board is confident in achieving a 2022 result in line with its expectations, notwithstanding the macroeconomic and geopolitical environment," Epwin says. Says currently trading in-line with expectations.
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Anpario PLC - manufacturer of natural sustainable feed additives for animal health, nutrition and biosecurity - Revenue in half-year ended June 30 rises 3.2% to GBP16.5 million from GBP16.0 million. Pretax profit decline 12% to GBP2.4 million from GBP2.7 million. Ups interim payout to 3.15p per share from 3.00p. "Customers have also been impacted by input cost pressures, notably feed and energy, which is hurting their profitability and in some cases viability. We have, therefore, experienced reduced volumes with these customers in addition to lower volumes in China because of Covid lockdowns, and in Russia and Belarus following our decision to cease trading with these countries," Chair Kate Allum says. "Maintaining profitability at the same level of last year is going to be challenging in the context of the current macroeconomic and geopolitical headwinds. The second half has started at a similar level as the first but with improved gross margins. However, full-year performance will be determined by trading conditions and events throughout the remainder of the year."
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t42 IoT Tracking Solutions PLC - Jersey-based real-time tracking, security, and monitoring solutions provider - Interim earnings weaken but it looks forward to second half. Revenue in six months ended June 30 down 4.1% to USD2.2 million from USD2.3 million a year prior. Operating loss widens to USD525,000 from USD473,000. "The strategy of t42 to focus on shipping containers tracking solutions is now taking form. The company is redefining itself and now beginning to execute its new strategy. Our contract wins are starting to deliver first sales and we believe the impact of our strategy change will begin to be felt in H2 of this year," CEO Avi Hartmann.
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Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - Net asset value per share at June 30 year end rises 15% year-on-year to USD2.0256 from USD1.7552. "The GCC is now much more than just a hydrocarbon story. There are compelling reasons why the strong long-term outperformance of the company and performance of the region will attract a wider investor audience," Chair Anderson Whamond says.
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Menhaden Resource Efficiency PLC - investor in firms "delivering or benefiting" from efficient use of energy - Net asset value per share at June 30, end of half-year, declines 13% to 134.8p from 155.7p at end of December. "It is likely that we will be faced with high inflation for some time yet, and with it rising interest rates and monetary and fiscal tightening as central banks and governments try to mitigate it," company says.
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Acceler8 Ventures PLC - Jersey-based acquisitions company - Posts no revenue in six months to June 30, unchanged from prior year. Pretax loss narrows to GBP55,172 from GBP157,000 a year earlier. Operating expenses down 65% to GBP55,172. Company says: "During the period and post period end, AC8 has continued to pursue its investment and acquisition strategy and is currently assessing both domestic and international opportunities within its chosen sectors of interest. These include successful businesses with the potential for high growth that have considered a listing and are seeking to partner with, and leverage the benefits of, the board's experience and that of the wider AC8 team."
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Itaconix PLC - New Hampshire, US-based speciality polymer developer - Revenue in half-year ended June 30 jumps to USD3.1 million from USD1.4 million a year prior. Pretax loss, however, widens to USD1.1 million from USD178,000. Sales costs jump to USD2.3 million from USD842,000. Administrative expenses rise 22% to USD1.7 million from USD1.4 million. Chief Executive John Shaw says: "We reached a new level of success for our proprietary plant-based technology platform in the first half of 2022 with record half-year revenues from new and recurring orders generated out of our growing customer base. These customers are increasingly relying on our ingredients for competitive advantages in everyday products used for cleaning, beauty, and hygiene. From detergents and air fresheners to shampoos and underarm deodorants, our ingredients add safety, performance, and sustainability to new generations of existing and new products used by millions of consumers every day."
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NIOX Group PLC - Oxford-based developer of medical devices for asthma diagnosis and management, formerly known as Circassia Group - Revenue in first half of 2022 rises 6.2% annually to GBP15.5 million from GBP14.6 million. Swings to pretax profit of GBP8.9 million from GBP2.0 million loss a year earlier. "Management is continuing to implement a growth strategy that will raise the awareness of the benefits of FeNO testing and significantly improve the availability of NIOX worldwide by expanding distribution, optimising reimbursement and improving patient access," company says. NIOX says it is exploring use of its asthma management devices at home. "The group is now in a strong financial position to deploy its cash resources to invest in these areas," it adds. Will seek approval for capital reduction. This will provide "flexibility in due course to return any surplus cash".
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East Imperial PLC - London-based premium mixers maker - Says revenue in six months to June 30 rises 26% year-on-year to GBP1.3 million from GBP1.0 million. Puts this down to "the return of key on premise markets and normalised trading patterns in the US and Europe". Pretax loss widens to GBP1.5 million from GBP507,000 a year prior. Notes in "advanced talks" to appoint bottling partner in US market. Chief Executive Anthony Burt says: "I'm very pleased to be reporting double digit revenue growth for the half, as well as a significantly improved net cash position. Our revenue growth was driven by a very strong performance in the US and Europe as these markets return to normal trading patterns. While the impact of Covid has lasted longer in APAC, we are starting to see signs of recovery in our business there and we expect to see the return to growth in the second half."
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Midatech Pharma PLC - Cardiff-based biotechnology company focused on improving the bio-delivery and biodistribution of medicines - Revenue in half year ended June 30 increases 17% to GBP468,000 from GBP401,000 a year prior. Pretax loss largely flat at GBP3.4 million. Research and development costs increase 20% to GBP2.4 million from GBP2.0 million. "Overall, we are pleased with the progress we have made in the first half of 2022. We are particularly excited about the impending start of our first study in GBM using the same drug and delivery system that demonstrated encouraging results in the first Phase I study in DIPG," Midatech says.
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Chariot Ltd - Devon, England-based transitional energy company focused on Africa - Pretax loss in first half of 2022 stretches to USD7.8 million from USD2.0 million. Says first half was one of "significant progress". "It has been a busy time but our focus remains on securing and developing large-scale, scalable, first-mover positions in projects that can diversify the energy mix, potentially reduce carbon emissions, support greener industrial development and facilitate access to affordable, accessible energy for all," CEO Adonis Pouroulis says.
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By Eric Cunha; ericcunha@alliancenews.com
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