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(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Jet2 PLC - Yeadon, England-based airline and package holiday operator - Swings to a pretax loss of GBP369.9 million in the year ended March 31 from a profit of GBP147.7 million a year prior. Revenue sinks to GBP395.4 million from GBP3.58 billion. Single sector passengers flown comes in at 1.3 million, falling sharply from 14.6 million the year before. "Extensive restrictions on international travel imposed by the UK Government, meant our aircraft fleet was fully grounded for approximately 29 weeks of the financial year and operated with a significantly reduced programme when flying was permitted," says company. Does not declare a final dividend, unchanged from last year, given "the ongoing impact of Covid-19". This leaves shareholder's pockets empty for the year, compared to a total payout of 3.0 pence a year ago. "Group performance for the financial year ending March 31, 2022 is very much dependent on the level of flying permitted for the remainder of summer 2021 and performance in the second half of the financial year, periods for which we still have limited visibility. Unsurprisingly given the continuing short-term uncertainty, customers are booking significantly closer to departure for summer 2021; and, although bookings to date for [this coming winter] are satisfactory, they have slowed more recently given the ongoing speculation around international travel," says company.
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Hyve Group PLC - London-based exhibitions and conferences organiser - Says the third quarter to end June "has been the group's busiest trading quarter since the Covid-19 pandemic began". Says 18 in-person events ran over the quarter, bringing the total number for the year to date to 28. The increased number of events reflects the continued momentum across the group's Eastern markets, primarily Russia, China, Turkey and Ukraine, company says. "[The third quarter] is traditionally a strong trading period for the group and it is extremely encouraging that Hyve has successfully run more events in the quarter than in the entirety of the first half. Many of the group's key markets in the East have been open for a number of months now and, combined with the continued pace of the vaccine rollout in our Western markets, this gives the group continued confidence when looking ahead to the final quarter of [the 2021 financial year] and beyond," CEO Mark Shashoua says.
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Fuller, Smith & Turner PLC - London-based pub and hotel company - Reports pretax loss of GBP57.8 million in the year to March 27, swinging from a profit of GBP8.4 million a year ago. Revenue plummets to GBP73.2 million from GBP316.0 million due to the enforced closure of social businesses throughout the year. "No full year dividend proposed in light of pandemic impact on trading performance, but intention to return to progressive dividend policy at the appropriate time," says company. Did not pay a final dividend a year prior. "The boom in staycations and desire to get back out with friends has led to strong trading in parts of our estate - particularly Cotswold Inns & Hotels and our rural pubs with rooms - and there is an incredibly busy season to come with numerous weddings and a high level of advance bookings," says Chief Executive Simon Emeny. Aims at "sustainable returns for the long term".
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Equals Group PLC - London-based payments and e-banking firm - Says revenue for the first half to June 30 is up 21% to GBP16.7 million from GBP13.8 million a year ago, "despite the continued absence of meaningful travel-related activity". "The hard work undertaken on both product development and cost restructuring over the last twelve months has really paid off as can be seen from these excellent revenues for [the second half of] 2021. Given the growth trajectory, we remain highly confident about the revenue prospects for second half of the year," says CEO Ian Taylor.
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ReNeuron Group PLC - Pencoed, Wales-based developer of cell-based therapeutics - Posts pretax loss for the year to end March of GBP13.4 million, narrowing from GBP13.9 million. Revenue falls sharply to GBP257,000 from GBP6.1 million. Revenue mostly comes from royalties from non-therapeutic licensing activities and income from research collaboration activities. Research development costs fall 41% to GBP9.5 million from GBP16.3 million. "Our decision in 2020 to focus the Company's resources on our retinal disease programme and our exosome and iPSC platforms has resulted in significantly lower operating costs, as reflected in the results for the year," says CEO Olav Hellebo. Looks forward to "data-driven potential value inflection points" over the next 12 months.
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JPMorgan Global Core Real Assets Ltd - real estate, transportation and infrastructure investor - Posts net asset value per share at February 28 of 87.9p, tumbling 9.1% from 96.8p a year ago. Pretax loss widens to GBP12.7 million from GBP4.7 million. Annual payout stands at 3.25p per share. Last year, the firm paid a maiden interim dividend of 0.75p per share. "The directors intend to maintain the current level of dividend payments and review the level of dividend cover in the coming quarter...Your board is hopeful that over the longer term the success of the underlying businesses into which we invest will facilitate a steadily growing level of dividends." says company. Says it has weathered the pandemic and the only headwind is "the current strength of pound sterling relative to most foreign currencies, an issue which many regard as a 'high quality problem'".
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Yu Group PLC - Nottingham, England-based supplier of gas, electricity and water to the UK business market - Says it has made a "very strong" start to the year and expects the positive momentum to continue. In the six months to end June, revenue is expected to increase 42% to GBP65.0 million from GBP45.9 million a year ago. Says it is confident it will meet market expectations for the year. Expects to report a strong earnings before interest, tax, depreciation and amortisation performance for the year, with further improvement into 2022 as "the group benefits from high scale benefits and its digital roll out".
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Mpac Group PLC - Coventry, England-based packaging company - Says the strong momentum in the second half of 2020 has continued into the first half of 2021. In the first half of 2021, order intake has been "significantly above" the Covid-impacted first half of 2020. Says it is comfortable with current full year market expectations. "I am pleased to report a strong start to 2021 across all regions. The outlook is positive based on trends in new prospects and customer investment discussions, and we enter the second half of 2021 with both a strong order book and a developing prospect pipeline and we remain confident that we can leverage the One Mpac operating model to deliver sustainable profitability," says CEO Tony Steels.
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InnovaDerma PLC - London-based developer of beauty, personal care and life science products - Says despite Covid-19 headwinds, revenues for the year have performed broadly in line with expectations. Expects revenue for year to end June of no less than GBP10.2 million, down 23% from GBP13.3 million last year. Believes that future prospects will improve once Covid-19 restrictions are lifted and social norms return. Expects to return to profitability for the year to end June 2022.
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Surface Transforms PLC - Liverpool-based maker of carbonâ€ceramic automotive brake discs - Says revenue in first half of 2021 grows 34% to GBP1.2 million from GBP900,000 a year prior, exceeding managements' original expectations. Says revenue is expected to increase further in the final quarter of 2021 following the start of production on the multi-year original equipment manufacturing contracts.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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