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EARNINGS UPDATES: ValiRx reports narrowed loss; McBride revenue slips

Tue, 07th Sep 2021 15:05

(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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ValiRx PLC - life science company - Reports narrowed pretax loss of GBP785,434 for the six months to the end of June versus GBP884,523 posted a year before. ValiRX says its administrative expenses reduced to GBP618,228 from GBP791,866 a year earlier, but research & developments costs rose to GBP166,500 from GBP99,879. "I look forward to continued progress with our existing projects and the opportunity to build on our concept of connected innovation," says Non-Executive Chair Kevin Cox.

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McBride PLC - domestic household products manufacturer - Reports revenue decline of 3.4% for the year to the end of June to GBP682.3 million from GBP706.2 million posted in financial 2020. On a constant currency basis, revenue falls by 4.0% year-on-year. Pretax profit, however, climbs to GBP11.3 million from GBP11.2 million the year prior amid reduction in administrative costs to GBP165.2 million from GBP168.3 million. McBride reviews its dividend policy as part of its strategy reset, with no final dividend proposed, unchanged year-on-year. "We continue to anticipate a weak first half year, especially when compared to our strong first half last year, with profits therefore heavily weighted to the second half of the year," says Chief Executive Chris Smith.

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Alumasc Group PLC - building products supplier - Reports 19% growth in revenue from continuing operations to GBP90.5 million for the financial year to June 30 from GBP76.0 million the year ago. Pretax profit, meanwhile, jumps to GBP9.8 million from GBP2.7 million year-on-year. The company declares final dividend of 6.25 pence a share, taking a full-year payout to 9.5p, up from 2.0p paid the year before. "I am delighted to report this excellent set of results to our shareholders and believe Alumasc is well-positioned to benefit from the long-term growth drivers in our market," says CEO Paul Hooper.

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DP Eurasia NV - Netherlands-based pizza delivery company - Reports system sales for the six months to June 30 of TRY1.05 billion, about GBP91.5 million, up 58% year-on-year. System sales like-for-like growth totals 18% in the half year. Revenue rises by 50% to TRY658.0 million. Full year guidance for Turkey like-for-like raised to 35% - 40% from 21% - 25% guided previously, and adjusted earnings before interest, tax, depreciation and amortisation expected to be slightly ahead of current market expectations, the company notes. "Digital continues to be the driving force behind our sales with the digital mix in delivery reaching record levels in both Turkey and Russia for the first half of the year," says CEO Aslan Saranga. Online delivery system sales as a share of delivery system sales stood at 78% for the half year, rising from 75% a year before.

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Luceco PLC - LED lighting manufacturer and distributor - Posts revenue growth of 51% for the six months to the end of June to GBP108.2 million from GBP71.6 million recorded a year earlier. On a constant currency basis, revenue is up 58% year-on-year. Pretax profit almost doubles to GBP16.6 million from GBP8.4 million the year prior. Luceco declares dividend of 2.6p a share, up from 1.5p paid the year before. "The group has outperformed the market throughout its history thanks to its leading brands, strong channel relationships, well-invested product innovation and operational agility. The competitive advantages of our business model have been accentuated during Covid, accelerating our market share gains," says CEO John Hornby.

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GRC International Group PLC - supplier of cyber security, risk management and compliance products - Reports revenue for the financial year to March 31 down 16% to GBP11.8 million from GBP14.1 million due to the pandemic. However, pretax loss narrowed to GBP2.8 million from GBP3.7 million year-on-year. This is due to a reduction in total administrative expenses to GBP8.9 million from GBP11.6 million the year prior. Going forward, the company says positive performance seen in the final quarter of its financial 2021 continued into the first quarter of its current financial year.

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EPE Special Opportunities Ltd - investment firm - Reports net asset value per share of 542.30p as at July 31e, representing an increase of 24% on the NAV per share of 437.63p as at January 31. The share price stood at 393.00p at the end of July, representing an increase of 45% on the share price of 271.00p as at the end of January. "The performance of the company in the six months ended July 31 was strong despite the ongoing disruption caused by the Covid-19 pandemic. The company has continued to make progress in the existing portfolio and has successfully completed a new investment in the period," says Chair Clive Spears.

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RA International Group PLC - remote site services provider - Reports revenue of USD26.2 million for the six months to the end of June, down from USD35.4 million posted the year earlier. Pretax profit declined to USD800,000 from USD1.6 million year-on-year. "We are cautiously optimistic and starting to see encouraging signs that the business environment is improving; depending on timing, this could boost our second half performance, but in any event should bridge to a stronger 2022," says CEO Soraya Narfeldt.

Separately, RA International reports the award of a new contract in a joint venture with ECC, the US based global construction and environmental remediation contractor. The contract with US Navy facilities engineering systems command far east is a five year contract for design and construction services supporting their base on the island of Diego Garcia in the Indian Ocean. The contract ceiling for this award is USD249 million and RA International and ECC will compete for individual task orders with four other awardees.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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