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Pin to quick picksMgc Pharma Ltd Share News (MXC)

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TRADING UPDATES: Strong recovery from Revolution Bars, Vitec

Tue, 01st Mar 2022 18:09

(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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PPHE Hotel Group Ltd - Amsterdam-based hotel owner and operator - For 2021, pretax loss narrows to GBP57.6 million from GBP94.7 million the year before, on revenue which grows 39% year-on-year to GBP141.4 million from GBP101.8 million, which marks a recovery to 40% of company's 20219 levels. RevPAR rises 22% to GBP35.9 from GBP29.4, and occupancy improves to 30.7% from 28.0% the prior year. Stronger performance is buoyed by the vaccination rollout in several countries, and the easing of Covid-related restrictions from the second quarter onwards. Will not declare a dividend for 2021, but will review future payouts depending on the recovery trajectory.

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Vitec Group PLC - Richmond, west London-based photography and video products maker - For 2021, swings to pretax profit of GBP29.6 million from a loss of GBP7.7 million, on revenue which grows 36% year-on-year to record levels of GBP394.3 million from GBP290.5 million, with increases across all divisions reflecting a strong market recovery. Declares final dividend of 24.0 pence per share, bringing the total payout to 35.0p, hiked from 4.5p. Looking ahead, Vitec says 2022 started well with record order intake, and remains confident despite short-term component shortages and inflation. Also looking to change group name at 2022 annual general meeting.

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Revolution Bars Group PLC - Ashton-under-Lyne, England-based bar chain - For the 26 weeks ended January 1, swings to pretax profit of GBP4.3 million from loss of GBP17.7 million the same period a year before, as total sales more than triple to GBP74.1 million from GBP21.6 million, aided by relaxed restrictions, allowing the return of students, office workers and increased staycations. Looking ahead, return to like-for-like sales growth in February, and expects annual adjusted earnings before interest, tax, depreciation and amortisation to be at the top end of market expectations, which is set between GBP8.0 million and GBP10.0 million.

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Volvere PLC - turnaround investment firm based in Leamington Spa, England - For 2021, expects to report a pretax profit of around GBP70,000, swinging from a loss of GBP550,000 the year before, on revenue which is set to grow 16% year-on-year to GBP35.6 million from GBP30.8 million, driven by a stronger performance from Shire Foods and Indulgence Patisserie Ltd. Looking ahead, challenges related to cost increases and labour availability in 2021 are present in 2022, however, environment for turnaround investing is improving.

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Uniphar PLC - Dublin-based healthcare services firm - For 2021, pretax profit increases 32% to EUR50.4 million from EUR38.4 million, on revenue which grows 6.5% year-on-year to EUR1.94 billion from EUR1.82 billion, with growth from all businesses, particularly Supply Chain & Retail which exceeds gross profit guidance. Looking ahead, keeps medium term guidance of mid-single digit growth in Commercial & Clinical, double-digit from Product Access and low-single digit in Supply Chain & Retail.

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essensys PLC - London-based software and cloud services for flexible workspace industry - For the six months ended January 31, revenue increases 3% year-on-year to GBP10.9 million, with continued demand from existing and new customers. Leads to anticipation that adjusted loss before interest, tax, depreciation and amortisation will be slightly better than management expectations. Looking ahead, to full year, adjusted Lbitda is set to be no more than GBP7 million, and revenue is expected to be at least GBP23.5 million, up 6.8% from GBP22 million the prior year. However, expansion and acceleration of its go-to-market activities has been delayed by "continued Covid related uncertainty". Also results in extended sales cycles leading to lower-than-anticipated sales bookings year-to-date.

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Fiske PLC - London-based stockbroker and investment manager - For the six months ended November 30, pretax loss narrows to GBP6,000 from GBP103,000 the same period a year before, as revenue grows 6% year-on-year to GBP2.9 million from GBP2.7 million, driven by a rise in investment management fee income on new client wins, more than offsetting a drop in commission income as market conditions were less volatile.

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PCI-PAL PLC - London-based call centre software provider - For the six months ended December 31, pretax loss narrows to GBP1.1 million from GBP2.3 million, on revenue which grows 72% year-on-year to GBP5.5 million from GBP3.2 million, as total annual contract value rises 36% to GBP11.3 million from GBP8.3 million. Looking ahead, makes strong start to the second half, with revenue momentum and the launch of its Australian business.

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Calnex Solutions PLC - provider of test and measurement solutions for the telecommunications sector - Reports strong levels of trading in the six months ending September 31, and subject to the fulfilment of scheduled orders in March, results for the year ending March 31 are set to e in line with market expectations. Calnex is on-track to begin the 2023 financial year with a record order book across all product lines, leading to revenue and operating profit for the year being set to come ahead of market expectations.

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European Smaller Companies Trust PLC - fund that seeks capital growth by investing in smaller companies in Europe outside the UK - For the six months ended December 31, net asset value total return is negative 1.4%, compared to the Euromoney Smaller European Cos (ex-UK) index, which made a positive return of 4.1%. As at December 31, net asset value per share drops 2.4% to 204.69 pence from 209.71p at the end of June. Declares dividend per share of 1.25 pence, up 22% from 1.025p a year prior.

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GetBusy PLC - Cambridge, England-based document management and productivity software provider - For 2021, pretax loss widens to GBP2.3 million from GBP1.1 million on rising costs, which more than offset a 8.5% rise in revenue to GBP15.4 million from GBP14.2 million, as annual recurring revenue grows 16% to GBP15.8 million, due to new business and ongoing demand. Looking ahead, for 2022 adjusted Ebitda is expected to approach breakeven, while strong ARR momentum will have group revenue at no less than GBP17.0 million.

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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis - For the six months ended December 31, pretax loss widens to AUD7.6 million from AUD5.9 million, due to higher administrative costs and one-off impairments arising from the MedicaNL acquisition. This was in spite of revenue more than tripling to AUD2.6 million from AUD741,911 through strong sales of Artemic, its Covid-19 supplement.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Feb 2024 17:00

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IN BRIEF: MGC Pharmaceuticals proposes name change to Argent Biopharma

MGC Pharmaceuticals Ltd - pharmaceutical company specialising in plant-derived medicines - Calls general meeting for March 18 on resolution to change the company's name to Argent Biopharma Ltd. "The board proposes this change of name on the basis that it believes the proposed name more accurately reflects the future operations of the company," the firm says.

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MGC Pharma gets Saudi approval for Covid-19 over-the-counter treatment

(Alliance News) - MGC Pharmaceuticals Ltd on Tuesday said the Saudi Arabian Food & Drug Authority has granted approval for its proprietary Covid-19 treatment product ArtemiC as an over-the-counter dietary supplement.

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UK shareholder meetings calendar - next 7 days

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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(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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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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29 Sep 2023 12:26

EARNINGS: MGC Pharmaceuticals loss widens, Codex eyes acquisitions

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UPDATE: MGC Pharmaceuticals proposes share placement at 80% discount

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MGC Pharmaceuticals at "critical financial juncture" despite progress

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SMALL-CAP WINNERS & LOSERS: MGC Pharma drops on restructuring plan

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MGC Pharmaceuticals annual loss widens as revenue falls

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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MGC Pharmaceuticals hails positive toxicology results for CimetrA

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TRADING UPDATES: MGC Pharmaceuticals granted psilocybin import permit

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

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