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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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Malin Corporation PLC - Dublin-based investor in life sciences companies - Estimated intrinsic equity value per share at June 30 was EUR6.25, compared to EUR9.34 at December 31 2022. Notes decrease was primarily attributable to the decline in the public market share price of Poseida in that period. Estimates intrinsic equity value per share at September 4 was EUR6.49, a 4% increase compared to June 30. This reflects a modest increase in the share price of Poseida following the announcement of a USD50 million strategic investment by Astellas in Poseida in August 2023.
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Beeks Financial Cloud Group PLC - Glasgow-based cloud computing and connectivity provider - Expects revenue for financial year 2023 to be over 20% higher than the year before, delivering underlying earnings before interest, tax, depreciation and amortisation growth of over 35% and underlying pretax profit growth of around 10%. Achieved a positive free cash flow position in the second half of the year in line with expectations, with net cash of GBP4.4 million, at the period end, compared to GBP3.4 million at the end of the first half. Adds the pipeline of opportunities for each of its offerings is significant and growing. Believes exchange cloud remains a potentially transformational opportunity.
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Solid State PLC - Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products - Reports a strong start to the financial year across both divisions. Highlights particularly strong order intake in the security & defence sector, with the medical sector continuing to see good demand and new design opportunities. Continues to maintain a strong balance sheet which provides the business with advantageous commercial and competitive strength for working capital needs and M&A opportunities. Remains ambitious and continues to review acquisition opportunities and organic growth initiatives, with a view to meeting its new 2030 strategic objective of maintaining compound annual growth in total shareholder return in excess of 20%.
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Omega Diagnostics Group PLC - Alva, Scotland-based diagnostics company - States whilst it maintains a very strong order book, one of its leading products, the FoodPrint test, had some production challenges towards the end of the year which resulted in a drop in production yields. This resulted in a backlog in the fulfilment of some orders. New processes have now been brought in, boosting production, to successfully address the order backlog. Remains well-funded to deliver against strategic objectives and is implementing the final parts of the turnaround strategy outlined last year. Continues to vigorously pursue its substantial counterclaim for losses incurred towards the DHSC, as a direct result of its failure to licence the necessary intellectual property to permit the contract to move forward and their failure to notify the group of their inability to do so in a timely manner.
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M Winkworth PLC - London-based estate agent - Reports Winwkorth revenue in the six months to June 30 of GBP4.3 million, unchanged from the year before. Pretax profit of GBP811,000 was down 24% from GBP1.1 million with basic earnings per share of 4.33 pence, down 31% from 6.26p. Says gross revenue from its franchised network of GBP26.4 million, down 5% from GBP27.7 million the year before. Explains sales transactions in the first half of this year were constrained by a backdrop of rising interest rates, mitigated to a degree by the trend towards fixed term mortgages. Anticipates that the number of completions will firm up as the year progresses.
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By Jeremy Cutler, Alliance News reporter
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