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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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Seeing Machines Ltd - Canberra-based driver monitoring technology - Posts revenue in year ended June 30 of AUD47.2 million, up 18% annually from AUD40.0 million. Top-line performance boosted by Seeing Machines technology rising in user numbers, now on roads in more than nine individual vehicle models globally, representing more than 120,000 cars including General Motors' Cadillac CT6 and new Mercedes Benz S-Class. Pretax loss for the year narrows to AUD16.7 million from AUD45.5 million loss year before. Also hails solid start to financial year 2022, with revenue ahead of budget, largely due to strong performance in Aftermarket. First quarter revenue AUD9.8 million, up 3.2% from AUD9.5 million year before. Paul McGlone, chief executive officer of Seeing Machines, comments: "The landscape for Seeing Machines and our technology has taken a dramatic turn with ongoing momentum driven by industry demand and regulatory tailwinds across all of our focused transport sectors. As a result, we are seeing success across all business divisions, and this is very pleasing."
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Revolution Beauty Group PLC - AIM-listed beauty products retailer - Describes "strong progress" made since float and confident outlook as it looks ahead into the second half. Revenue for year ended August 31 up 39% annually to GBP78.6 million from GBP56.6 million. The top-line improvement gives a "platform for growth ahead of seasonal peak trading". Loss before tax widens to GBP15.1 million from GBP6.1 million year before. "As anticipated at our trading update in October, we continued the strong momentum in the first half into the seasonal peak of beauty in the third quarter, with sales growth across online and in-store, driven by Halloween and the start of Christmas trading." comments Chief Executive Adam Minto. "We remain confident of meeting market expectations for the full year, though we continue to be mindful of ongoing volatility and disruption caused by the pandemic."
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First Property Group PLC - London-based property fund manager and investor - More than triples interim pretax profit to GBP6.7 million from GBP2.1 million year before. The increase is largely attributable to a reduction of EUR9 million in the amount owed to ING Bank in final settlement of the lease secured against the group's office block in Gdynia, Poland. In spite of the profit climb, First Property cuts interim dividend by 44% to 0.25 pence per share from 0.45p. "The first half has seen a sharp turnaround in our fortunes, principally due to the restructuring of a finance lease secured against our largest group property which reduced our debt liability by some EUR9 million," explains Chief Executive Ben Habib. "Our prospects are bright - we have cash to invest, there are many investment opportunities and occupational demand should pick up from the lockdown induced lows with a commensurate increase in the value of our own properties."
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Arena Events Group PLC - Services major events, supplying things such as temporary physical structures and seating - Posts half-year revenue in six months ended September 30 of GBP82.5 million, almost double GBP42.8 million a year earlier. Pretax profit swings to GBP2.1 million from a GBP4.7 million loss. Reaffirms guidance of a "transitional year" and states it remains on track as events continue to return to pre-pandemic levels in many markets. Notes contributions of number of large major periodic events such as the Olympics and the Ryder Cup, which have more than offset inflationary pressures and a tight labour market. Arena declares no interim dividend, unchanged from last year. "Despite the strong first half, it is worth noting that the second half of our financial year is always seasonally much quieter than the first, and this year will again most likely follow that pattern, particularly in the US market where Covid-19 and other relief work continues to reduce," explains Chief Executive Greg Lawless.
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By Will Paige; willpaige@alliancenews.com
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