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(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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SRT Marine Systems PLC - Somerset, England-based provider of maritime domain awareness systems and technologies for surveillance, security, safety and environmental protection - Says revenue for its financial year ended March 31 surges to GBP30.5 million, up from GBP8.2 million the year before. Pretax loss narrows to GBP646,172, down from GBP6.8 million. The company pays no final dividend, unchanged from the year before. Chief Executive Officer Simon Tucker says: "We go into the new year with an expanded product range and distribution network, a forward contract order book of GBP160 million and a new prospects pipeline of system contracts worth approximately GBP1.4 billion. This position reflects the early strategic decisions made to position SRT at the centre of these substantial global markets."
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Franchise Brands PLC - Manchester-based owner of ChipsAway, Willow Pumps and Metro Rod brands - Revenue in its first half ended June 30 rises 57% to GBP69.8 million, from GBP44.5 million. Adjusted earnings before interest, tax, depreciation, and amortisation rises 67% to GBP12.1 million, up from GBP7.3 million the year before. Franchise Brand declares interim dividend of 1.0 pence per share, up 11% on 0.9p per share the year before. Executive Chair Stephen Hemsley says: "The group has made significant progress in the first half of 2023, including the acquisition of Pirtek Europe, doubling the size of the group. We now operate seven franchise brands in ten countries in the UK, Continental Europe and North America, generating annualised system sales of approximately GBP400 million." The company has a positive outlook for the rest of the year, anticipating a full year performance at least in line with expectations.
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Amigo Holdings PLC - Bournemouth, England-based mid-cost credit provider - Revenue for financial year ended March 31 falls 78% to GBP19.3 million, down from GBP89.5 million. Swings to pretax loss of GBP34.8 million, from GBP169.9 million the year before. Despite achieving sanction for its scheme of arrangement, the economic downturn meant it could were unable to raise sufficient interest to underwrite the required equity funding to pay a further GBP15 million contribution to Scheme creditors. Chief Executive Officer Danny Malone says: "These results come at a very sad time for Amigo. Despite the hard work and dedication of all of Amigo's employees, economic and market conditions made it impossible for the company to raise the capital required to continue lending. Our priority now is to progress the orderly wind down of the business, ensuring we are able to maximise payments to redress creditors, whilst continuing to provide the best level of service possible to our customers and support for our staff."
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Forterra PLC - Northampton, England-based building product manufacturer - Pretax profit falls 59% to GBP18.1 million, from GBP44.2 million year-on-year. Revenue falls 18% to GBP183.2 million, from GBP222.8 million. Ebitda falls 33% to GBP31.1 million, from GBP46.1 million from the previous year. Forterra declares an interim dividend of 2.4 pence per share, down 43% from 4.6p per share. Chief Executive Neil Ash says: "As we enter the second half, the outlook continues to remain uncertain due to high inflation and rising interest rates. These factors are likely to continue weighing on demand for new housing and therefore our products."
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By Will Neill, Alliance News reporter
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