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Pin to quick picksSolid State Share News (SOLI)

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EARNINGS AND TRADING: Ixico revenue falls, Solid State boosts profit

Tue, 05th Dec 2023 14:31

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

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Ixico PLC - London-based precision analytics company working to advance investigational therapies for neurological diseases - Revenue for the year that ended on September 30 falls 23% to GBP6.7 million from GBP8.6 million the year before. Company swings to GBP1.4 million pretax loss following a GBP885,000 profit. Total operating expenses increase to GBP5.1 million from GBP5.0 million. Ixico says revenue drop was expected and caused by the now-realised impact of clients ceasing multiple large "failed" trials across 2021 and early 2022. Expects to deliver roughly flat revenue in the current financial year before returning to growth in 2025.

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Supply@Me Capital PLC - London-based fintech platform provider - Says it has so far received GBP1.4 million from The AvantGarde Group SpA as a result of contractual payments. An additional GBP1.5 million remains outstanding. Also says it has made significant progress in the formalisation of its first White-Label IM agreement with an Italian banking group with a transaction valued at up to EUR10 million. Company is also working to finalise a framework to issue security tokens up to USD100 million to be subscribed in tranches.

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Lindsell Train Investment Trust PLC - London-based, rail-focused investment trust - Net asset value at September 30 is GBP968.75 per share, down from GBP1,056.95 at March 31. NAV total return for the six months to September 30 is negative 3.6%, underperforming the MSCI World Index with positive 4.5%. Says performance was impacted by high interest rates and inflation, and believes it may have to reduce its dividend. Notes reduced investor risk appetites and increased market volatility.

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Marechale Capital PLC - London-based corporate finance adviser - Revenue for the half year that ended on October 31 increased 91% to GBP320,603 from GBP168,001. Cost of sales more than doubles to GBP226,790 from GBP95,981. Pretax loss narrows to GBP155,803 from GBP179,502. Marechale says market is still challenging, especially in the hospitality sector, but that it remains positive about the outlook for its investments.

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Anglesey Mining PLC - Base metals miner with operations in North Wales, Sweden and Canada - Says drilling of the NCZ001 hole in the Northern Copper Zone at its Parys Mountain project on the Isle of Anglesey commenced on October 27, and is expected to complete over the next week. Expects results in the first quarter of 2024. Says initial logging suggests sulphide mineralisation commencing at around 350 metres deep. Chief Executive Jo Battershill says initial core is "very encouraging" as "we are seeing a significant amount of quartz veins within the system..[which] contain encouraging amounts of chalcopyrite, sphalerite, and galena – the key minerals that host copper, zinc and lead."

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Psych Capital PLC - London-based psychedelic medicines media firm and investor - Oscillate PLC continues to own 46.0 million shares in Psych, representing 12.75% of its issued share capital, following Psych's acquisition of Short Wave Pharma Inc which completed in November. Oscillate says it will continue to assess the investment to ascertain an exit opportunity. Says it meanwhile remains "optimistic at the advances that the Short Wave acquisition represents in the innovative psychedelics space." Oscillate also says that trials are due to start in the first quarter of 2024.

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Solid State PLC - Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products - Pretax profit for the six months to September 30 is GBP6.1 million, up 45% from GBP4.2 million the prior year. Revenue increases 48% to GBP88.1 million from GBP59.4 million. Company declares 7.0 pence per share interim dividend, up 8% from 6.5p the year before. Says it is confident in meeting expectations for full-year results thanks to "record billings" and a "stable six-month order book". Open order book at October 31 stood at GBP108.6 million, slightly down from GBP112.5 million at September 30, 2022.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
4 Apr 2023 12:18

IN BRIEF: Solid State eyes annual results to be in line with consensus

Solid State PLC - Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products - Reports continued strong trading in the second half of the year ended on March 31, in line with consensus expectations. Expects to record revenue for financial 2023 of about GBP125 million, up 47% from GBP85 million the year before. This is compared to consensus expectations of GBP120.3 million. Says organic revenue growth on a constant currency basis is expected to be close to 20%. Expects to deliver record adjusted pretax profit of at least GBP10.5 million, up more than 46% from GBP7.2 million a year before. Consensus also stands at GBP10.5 million.

Read more
4 Apr 2023 10:20

Solid State sees continued 'strong trading' in H2

(Sharecast News) - Value-added component supplier Solid State said on Tuesday that it had seen "continued strong trading" in the second half of the year, resulting in a performance that it expects will be in line with consensus expectations.

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6 Dec 2022 16:21

Solid State revenue, profits rise in first half

(Sharecast News) - Computing, power and communications components specialist Solid State reported first-half revenue of £59.4m on Tuesday, up from £39.4m year-on-year.

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6 Dec 2022 14:23

Solid State to beat full year expectations as half year profit jumps

(Alliance News) - Solid State PLC on Tuesday said it is confident in exceeding full year expectations for financial 2023 as its profit increased in the first half of its year.

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22 Nov 2022 16:23

IN BRIEF: Solid State wins GBP9.8 million defence contract with Nato

Solid State PLC - Redditch-based supplier and design-in manufacturer of computing, power, and communications products - Signs GBP9.8 million follow-on defence contract with Nato Support & Procurement Agency to supply communications equipment to a defence customer through its Systems division. Expects revenue from contract to contribute to market expectations for financial year 2024.

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14 Nov 2022 15:43

Solid State wins GBP7.3 million defence contract with Nato

(Alliance News) - Solid State PLC on Monday said it has been awarded a GBP7.3 million contract by the Nato Support & Procurement Agency to supply communications equipment to a defence customer through its Systems division.

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26 Oct 2022 14:35

TRADING UPDATES: Solid State expects to top annual expectations

(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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7 Sep 2022 14:38

IN BRIEF: Solid State expects full-year in line with analyst consensus

Solid State PLC - Worcestershire, England-based computing products manufacturer - Says it is "very pleased" with the initial performance of Custom Power LLC, a Los Angeles-based battery systems manufacturer, in its first month of trading following the completion its acquisition in August. At August 31, Custom Power's order book stands at GBP16.8 million, taking the firm's total order book to GBP106.8 million. This strong order intake converts to a "record start" to billings for the financial year ending March 31, 2023.

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8 Aug 2022 13:21

Solid State completes acquisition of LA-based Custom Power

(Sharecast News) - Computing, power and communications value-added component supplier Solid State has completed the acquisition of Custom Power, it announced on Monday.

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8 Aug 2022 13:21

Solid State completes acquisition of LA-based Custom Power

(Sharecast News) - Computing, power and communications value-added component supplier Solid State has completed the acquisition of Custom Power, it announced on Monday.

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8 Aug 2022 11:19

IN BRIEF: Solid State completes Custom Power acquisition

Solid State PLC - Worcestershire, England-based computing products manufacturer - Completes the acquisition of Custom Power LLC, a Los Angeles-based battery systems manufacturer.

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27 Jul 2022 12:01

EARNINGS UPDATES: Yourgene posts record revenue; Solid State payout up

(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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13 Jul 2022 10:48

IN BRIEF: Solid State raises GBP26 million in oversubscribed placing

Solid State PLC - Worcestershire-based computing products manufacturer - Raises roughly GBP26.3 million in a placing of 2.6 million shares at 1,025 pence each. The placing was oversubscribed with WH Ireland Group PLC and finnCap Group PLC acting as joint brokers.

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12 Jul 2022 18:07

Solid State to acquire battery manufacturer for USD45 million

(Alliance News) - Solid State PLC said on Tuesday it entered a conditional agreement to acquire Los Angeles-based battery systems manufacturer Custom Power LLC for a maximum of USD45.0 million.

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20 Jun 2022 10:04

Solid State to deliver CCTV system for London Tube's Piccadilly Line

(Alliance News) - Solid State PLC on Monday said it has won a contract with Transport for London, to deliver a new one person operation CCTV system on the Piccadilly line with the London Underground train network.

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