(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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Bank of Cyprus Holdings PLC - Strovolos, Cyprus-based financial services company - For the first half of 2021, swings to pretax profit of EUR2.1 million from loss of EUR124.9 million, due to narrowed credit losses to cover risk on loans and advances at EUR48.3 million from EUR183.7 million. Net interest income dropped 9.3% to EUR152.2 million from EUR167.8 million, however turnover grew 3.9% year-on-year to EUR391.4 million from EUR376.7 million. Declared no dividends during the period.
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John Menzies PLC - Edinburgh-based aviation services provider - For the first half of 2021, swings to pretax profit of GBP4.7 million from a loss of GBP80.1 million a year before, driven by the lack of several one-off costs, including restructuring charges and asset impairment costs. However, revenue declined 3.6% year-on-year to GBP415.8 million from GBP431.5 million, as travel restrictions lead to a reduction in passenger flights, hurting the group's ground and fuelling services businesses. Looking ahead, ground services and fuelling volumes remain subdued and are not expected to return to pre-pandemic levels before 2023. Declares no interim dividend, in line with year before.
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Kropz PLC - phosphate explorer with assets in South Africa and Republic of Congo - For the six months ended June, pretax loss narrows to USD7.4 million from USD14.7 million the year before, due to lower finance costs from lower foreign exchange losses. During the period, further progress at Elandsfontein has been made, however minor setbacks have caused the target date for commissioning to be pushed later into the fourth quarter of 2021. Funding shortfall of USD8.5 million is expected before first revenue from rock sales is expected in the first quarter of 2022.
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SEC Newgate SpA - Italian strategic communications and advocacy firm - For the first half of 2021, pretax profit rose 53% to EUR2.3 million from EUR1.5 million due to improved profitability while revenue grew 15% to EUR36.3 million from EUR31.5 million, on a stronger performance from Advocacy & Public Affairs and Integrated Services.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - For the year ended June 30, posts pretax loss of USD13.5 million, narrowed from USD18.8 million, driven by the lack of a USD5.1 million impairment charge on intangible assets. In addition, revenue rose 43% to USD3.0 million from USD2.1 million, driven by strong phytocannabanoid sales amounting to around USD2.0 million. Looking ahead, expects significant growth in the coming year, both in the sales of its existing products and in its clinical pipeline.
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Johnson Service Group PLC - Cheshire, England-based textile rentals - For the six months ended June 30, pretax loss narrows to GBP14.0 million from GBP18.6 million, as a result of lower costs and a reduction in bank debt, despite revenue which declined 13% year-on-year to GBP99.6 million from GBP114.8 million, as the Hotel, Restaurant & Catering Business division is severely affected by the lockdown at the start of 2021. However, volumes started to increase from April onwards. Declares no dividend for the period, in line with the year before. Looking ahead, expects annual results to meet the higher end of market expectations.
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Uniphar PLC - Dublin-based healthcare services firm - For the first half of 2021, posts pretax profit of EUR20.7 million, up 31% from EUR15.8 million the prior year, on revenue which grew 11% year-on-year to EUR964.9 million from EUR871.3 million, driven by strong performances in the Commercial & Clinical and Supply Chain & Retail divisions on client growth and the acquisition of 36 Hickey's retail pharmacies. Gross profit rises 31% to EUR134.3 million from EUR102.6 million. Looking ahead expects a rise in gross profit from all segments for 2021 as a whole, while M&A will remain an important part of Uniphar's strategy.
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Churchill China PLC - Stoke-On-Trent, England-based ceramic products for hospitality and retail markets - For the six months ended June 30, swings to pretax profit of GBP977,000 from a loss of GBP382,000 the year before, on revenue which grew 27% year-on-year to GBP23.9 million from GBP18.9 million, driven by a strong increase in order levels in May and June as lockdown restrictions were lifted. Restores interim dividend payout at 6.7 pence per share. Looking ahead, continues to trade in line with management expectations and is confident in meeting its business and financial targets both short and long term.
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Arcontech Group PLC - real-time financial market data product and service provider - For the year ended June 30, pretax profit remained flat at GBP1.4 million, in spite of revenue rising 1.1% year-on-year to GBP2.99 million from GBP2.96 billion on increased sales despite a level of caution seen from customers. Raises final dividend by 10% to 2.75 pence per share from 2.50p a year prior. Looking ahead, due to the impact of Covid-19 on net sales, annual profit for the current financial year is expected to be flat or lower, with a pick up in revenue not expected until the 2023 financial year.
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KRM22 PLC - risk management company - For the first half of 2021, pretax loss widens to GBP1.7 million from GBP1.2 million a year before, due to higher administrative costs and a decline in revenue to GBP2.2 million from GBP2.3 million, driven by a decline in recurring revenue on delays in signing certain contracts, as well as the loss of two customers.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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