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UK EARNINGS SUMMARY: LoopUp Swings To Profit On Work-From-Home Boost

Wed, 23rd Sep 2020 14:02

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

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LoopUp Group PLC - London-based cloud communications provider - Swings to pretax profit of GBP7.8 million for six months to June 30 from a GBP478,000 loss. Revenue surges 43% to GBP31.9 million. First half performance driven primarily by the large-scale migration towards working from home due to Covid-19. Enters second half with major new customer wins set to roll out, a healthy new business pipeline, and a strong balance sheet. Cash of GBP8.3 million and net debt of GBP5.3 million at June 30.

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Ten Entertainment Group PLC - Bedford, England-based bowling centre operator - Swings to a pretax loss of GBP7.0 million in 26 weeks ended June 28 from GBP5.9 million profit a year before. Revenue almost halves to GBP22.5 million from GBP41.4 million. Recovered quickly from lockdown as restrictions were eased. All centres now are fully open. Trading has begun well at 83% of previous levels. Confident to return the business to growth.

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Sigma Capital Group PLC - Manchester, England-based private rented sector specialist - Pretax profit dives 77% to GBP980,000 for six months to June 30 from GBP4.3 million a year ago. Results reflect the impact of coronavirus pandemic and national 'lockdown', which resulted in suspension of construction and lettings activities from late-March to mid-May as well as ongoing restrictions. Revenue falls 14% to GBP5.0 million from GBP5.8 million. Coronavirus crisis is estimated to have reduced activity levels by 40% in first half. Rental performance across all portfolios robust and demand for new homes remains strong, with rental prices steady at pre-pandemic levels. Dividend expected to be proposed with results for the nine-month financial period ending September 30.

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Staffline Group PLC - Nottingham, England-based recruitment and training group - Promotes Non-Executive Director Albert Ellis to chief executive officer role, effective from the start of October. Executive Chair Ian Lawson to move to non-executive chair role on December 31. Posts widened pretax loss of GBP47.7 million for the six months to June 30 versus a GBP12.3 million loss in the prior year period. Revenue falls 17% to GBP434.9 million. Records non-cash impairment charge of GBP35.3 million and amortisation of intangibles of GBP4.8 million. Taking actions to alleviate the probable liquidity pressures in March 2021. Expects to perform in line with expectations for 2020 despite a challenging environment. On track to achieve a positive result for 2020 on an underlying operating profit basis across all three divisions.

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Xeros Technology Group PLC - Rotherham, South Yorkshire-based laundry and garment technology group - Pretax loss for the six months to June 30 narrows year-on-year to GBP3.5 million from GBP8.2 million as administrative cost cut by more than half, but revenue dives to GBP215,000 from GBP1.2 million. To consolidate shares to reduce number of shares in issue. Cash of GBP6.2 million at August 31 and cash burn rate down to less than GBP500,000 per month.

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Anglo Asian Mining PLC - gold, copper and silver producer in Azerbaijan - Pretax profit for six months to June 30 rises 15% year-on-year to USD11.8 million from USD10.3 million. Revenue rises 6% to USD45.8 million from USD43.3 million a year before. First half production falls year-on-year to 32,501 gold equivalent ounces from 39,905 ounces. Gold bullion sales 23,979 ounces, down from 26,589 ounces. Total 2020 production target maintained at between 75,000 and 80,000 gold equivalent ounces. Declares interim dividend of 4.5 US cents per share. To consider special dividend in first-quarter of 2021. Cash of USD29.2 million and no debt at June 30.

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Reabold Resources PLC - oil and gas investor focused on the UK, US and Romania - Pretax loss for the six months to June 30 narrows to GBP138,000 from GBP685,000 a year ago. Revenue rises 46% to GBP570,000 from GBP390,000. Cash and cash equivalents as at June 30 GBP5.5 million. Looks forward to an exciting 2020 and beyond.

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Dillistone Group PLC - Basingstoke, England-based recruitment software provider - Pretax loss for six months to June 30 narrows to GBP110,000 from GBP397,000 a year ago. Revenue declines 20% to GBP3.4 million from GBP4.2 million. Management of cost base and better operational performance led to a narrowed first half loss. Covid-19 will continue to impact revenue. Non-Executive Director Mike Love to retire from the board, in line with long-term plan. Cash balances of GBP1.7 million at June 30.

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Equals Group PLC - London-based payments group - Pretax loss for the six months to June 30 widens year-on-year to GBP3.3 million from GBP178,223. Revenue edges up to GBP13.8 million from GBP13.6 million. Cash GBP7.6 million as of Friday last week. Positive about future prospects and confident about the outlook for the group.

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Warpaint London PLC - Buckinghamshire, England-based colour cosmetics business - Sales reduced 29% to GBP13.5 million in the six months to June 30 from GBP18.9 million as a result of the Covid-19 restrictions in the UK and internationally. First half pretax loss widens year-on-year to GBP1.5 million from GBP210,000 on increased costs. Resumes dividend payments. Declares interim dividend of 2.8 pence per share and one-off additional 1.3p payout. Sales for second half recover after the Covid-19 lockdown. Predicts sales for 2020 of GBP37 million, which should generate adjusted profit from operations in excess of GBP2.0 million.

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Cloudcall Group PLC - cloud-based software business based in Leicester - Pretax loss for the six months to June 30 widens year-on-year to GBP2.6 million from GBP1.8 million. Revenue rises 11% to GBP5.8 million from GBP5.2 million. New sales bookings recovering after initial Covid-19 impact. Resilient trading continuing into second half, with performance since the end of the period in line with management expectations.

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Mission Group PLC - London-based marketing group - Swings to a pretax loss of GBP1.8 million for the six months to June 30 from GBP2.7 million profit. Turnover dives to GBP58.1 million from GBP82.3 million. Net debt reduced to GBP900,000 at June 30 from GBP5.1 million at December 31. Second half of the financial year has started well under the current trading circumstances, with the impact of COVID-19 on revenue easing. Expectations to report a profit for 2020 remain unchanged.

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Mobile Tornado Group PLC - Harrogate, North Yorkshire-based communications company - Pretax loss for six months to June 30 widens year-on-year to GBP835,000 from GBP691,000. Revenue falls 13% to GBP1.3 million from GBP1.5 million. Recurring revenue stream stable despite the highly uncertain global economic environment. Net debt of GBP8.2 million and cash of GBP450,000 at June 30.

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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Pretax loss for six months to June-end widens year-on-year to GBP10.5 million from GBP9.3 million a year ago. Revenue plummets 69% to GBP2.4 million from GBP7.7 million. Strong balance sheet with cash and cash equivalents of GBP70.6 million at June 30. Sees limited long-term impact of Covid-19 on business.

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Allergy Therapeutics PLC - Worthing, West Sussex-based biotechnology company - Pretax profit for the financial year that ended June 30 nearly doubles to GBP8.1 million from GBP4.3 million due to lower research and development costs and revenue rise. Revenue up 6% to GBP78.2 million from GBP73.7 million. Outlook for financial 2021 hard to predict accurately due to Covid-19. Sales for financial 2021 expected to grow at a similar rate to 2020 due to the anticipated reduction of new patients. Research and development expenses anticipated to be 70% higher than in 2020 as research continues with Grass MATA MPL and peanut allergy candidate vaccine. Cash balance of GBP37.0 million at June 30.

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Trackwise Designs PLC - Gloucestershire, England-base printed circuit technology group - Swings to pretax profit of GBP788,000 for the six months to June 30 from GBP87,000 loss a year before. Revenue rises 54% to GBP2.4 million from GBP1.5 million. Trading performance impacted by Covid-19. Annual performance will reflect the difficult economic trading conditions, a EV manufacturing contract win, and progress in two other core target markets, medical and aerospace. Net cash of GBP1.6 million at June-end.

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Strix Group PLC - Isle of Man-based kettle safety controls manufacturer - Pretax profit for six months to June-end broadly flat at GBP7.5 million. Revenue falls 21% to GBP34.7 million. Administrative expenses decline to GBP3.9 million from GBP6.2 million. Sees record sales in third-quarter based on replenishment of pipeline stock and the normal seasonal uplift. Maintains interim dividend payment of 2.6 pence per share. Committed to delivering a full year dividend of 7.7p, in line with 2019.

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ECSC Group PLC - Bradford, West Yorkshire-based cyber security services provider - Pretax loss for six months to June 30 narrows to GBP340,000 from GBP558,000 a year ago. Revenue broadly flat at GBP2.6 million. Adjusted earnings before interest, tax, depreciation and amortisation of GBP52,000 versus GBP184,000 loss. Maintaining breakeven adjusted Ebitda position throughout Covid-19 crisis. Cash of GBP1.3 million at June 30.

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Aseana Properties Ltd - property developer with investments in Malaysia and Vietnam - Pretax loss for six months to June-end widens year-on-year to USD8.2 million from USD5.2 million. No revenue versus GBP5.7 million a year before. Net asset value USD0.50 per share at June 30 versus USD0.55 at December 31. First half results are reflective of the challenging market conditions resulting from Covid-19 and the actions taken by governments to contain the spread of the coronavirus.

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By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
7 Aug 2023 11:29

IN BRIEF: Reabold Resources celebrates approvals for Colle Santo field

Reabold Resources PLC - oil & gas investing company with a portfolio of exploration, appraisal and development projects in the UK, Romania, the US, and Italy - Updates on developments in the approvals process for the onshore Colle Santo gas field in Abruzzo, Italy. Says that LNEnergy has received a letter from the head of the Italian National Bureau of Hydrocarbons & Georesources giving it permission to carry out well integrity and well service testing on two existing wells at the field and to start work on the installation and commissioning of the monitoring network at the gas field.

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12 Jul 2023 12:17

IN BRIEF: Reabold Resources gets extension for licence with Baron Oil

Reabold Resources PLC - oil and gas company with projects in the UK, US and Romania - Gets an extension until July 2025 for licence P2478, which it holds a 36% working interest in. Baron Oil PLC holds a 32% interest in the licence. The extension is from the UK North Sea Transition Authority.

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29 Jun 2023 18:56

TRADING UPDATES: abrdn New India, Chelverton UK net assets fall

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

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23 Jun 2023 15:28

Reabold completes further investment in LNEnergy

(Sharecast News) - Oil and gas investor Reabold Resources announced on Friday that, further to its announcement on 12 June, it has completed a further investment in LNEnergy .

Read more
23 Jun 2023 14:42

IN BRIEF: Reabold Resources raises interest in LNEnergy to 16%

Reabold Resources PLC - oil and gas company with projects in the UK, US and Romania -

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22 Jun 2023 15:44

UK shareholder meetings calendar - next 7 days

Friday 23 June 
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Volvere PLCAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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12 Jun 2023 11:33

Reabold raises LNEnergy stake to 16% after permits confidence boost

(Alliance News) - Reabold Resources PLC on Monday said it has invested GBP2.0 million to increase its stake in LNEnergy Ltd and now has a more than 16% stake in the company, having gained increased confidence in LNEnergy's ability to secure permits for the development of its flagship project in Italy.

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1 Jun 2023 14:10

IN BRIEF: Reabold Resources extends LNEnergy investment expiry date

Reabold Resources PLC - London-based oil and gas company with projects in the UK, US and Romania - Extends investment expiry date with LNEnergy Ltd by one week to June 7. Last month, Reabold agreed to buy a 3.1% shareholding in LNEnergy for a cash consideration of GBP250,000. The deal includes options to acquire further shares in LNEnergy which would result in Reabold holding a 25% stake in the company for GBP3.8 million in cash and shares. LNEnergy's primary asset is an option over a 90% interest in the Colle Santo gas field, onshore Italy in the Abruzzo region.

Read more
30 May 2023 12:16

Reabold Resources annual loss narrows as costs fall, revenue plummets

(Alliance News) - Reabold Resources PLC on Tuesday said its annual loss narrowed as costs dropped, but lower sales volumes affected its revenue.

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9 May 2023 17:09

TRADING UPDATES: TT Electronics trading encouraging, revenue jumps

(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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28 Apr 2023 12:21

IN BRIEF: Reabold Resources launches GBP750,000 share buyback

Reabold Resources PLC - London-based oil and gas company with projects in the UK, US and Romania - Launches GBP750,000 share buyback programme as part of its plan to return GBP4 million to shareholders upon the receipt of GBP9.5 million from Shell, relating to its sale of the Victory asset. Says it decided to accelerate the return through the GBP750,000 buyback, which it says is an attractive investment due to its current market value. Chief Executive Stephen Willaims says a high level of confidence in its West Newton target, "combined with the exciting and highly material potential we have identified at Crawberry Hill, and the confirmation of the prospectivity of the North Sea assets as confirmed by the CPR, is reflected in today's announcement that we are beginning the process of returning excess cash to shareholders by undertaking an initial up to GBP750,000 share buyback."

Read more
12 Apr 2023 18:20

TRADING UPDATES: Enwell Energy offices searched, Trinity confirms fire

(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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29 Mar 2023 13:14

IN BRIEF: Reabold Resources receives approval for capital reduction

Reabold Resources PLC - London-based oil and gas company with projects in the UK, US and Romania - Says High Court of Justice has approved its application to cancel its share premium account, which was also approved by shareholders on February 28. Accordingly, the amount standing to the credit of the company's share premium account has been cancelled.

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15 Mar 2023 13:48

Reabold says unsolicited Portillion SPV offer undervalues portfolio

(Alliance News) - Reabold Resources PLC on Wednesday said it has received an unsolicited takeover proposal from Kamran Sattar on behalf of Portillion SPV O&G.

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15 Mar 2023 12:03

LONDON MARKET MIDDAY: Credit Suisse leads bank shares deep into hole

(Alliance News) - Equity prices in Europe traded sharply lower in afternoon dealings on Wednesday as banking shares once again bore the brunt of a bruising stock market sell-off, with investor confidence in the sector depleting rapidly.

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