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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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STV Group PLC - Glasgow-based broadcaster - Revenue grows 22% to GBP168.4 million in 2023 from GBP137.8 million a year prior. Total advertising revenue drops 12% to GBP97.3 million from GBP110.0 million. Adjusted pretax profit was GBP9.5 million for the year, down from GBP24.1 million in 2022. STV's dividend was flat for the year at 11.3p per share, after a final dividend of 7.4p. STV has secured GBP87 million in future revenue as at March, GBP30 million a head of the same time a year ago, and the company is encouraged by the "resilience" shown by the advertising market in the year so far. Chief Executive Officer Simon Pitts says: "Our overall financial performance was impacted by weak linear advertising and cost inflation, as expected and related to the challenging UK macro environment, although the start of 2024 has been more encouraging."
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Avacta Group PLC- Wetherby, England-based life sciences company specialising in oncology treatments - Set to issue 10.9 million new shares at a price of 50p each following its February retail offer. This remains subject to shareholder approval at the company's annual general meeting on March 18. The REX offer received total applications in excess of the GBP6.8 million limit. The company decided to limit the offer to existing Avacta retail shareholders, and expects a total of GBP5.4 million to be raised from the offer. The company says the proceeds will be used to support the continued clinical development of AVA6000, the company's signature treatment capable of targeting a chemotherapy to the tumour while sparing healthy tissue.
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Argo Blockchain PLC - London-based cryptocurrency miner - Enters into agreement for sale of Mirabel, Quebec data centre for a total consideration of USD6.1 million. The proceeds from the sale will be used to repay the facility's outstanding mortgage in full, and the remainder used to pay debts owned to Galaxy Digital Holdings Ltd, an asset manager and trade advisor specialising in digital assets. As of February 29, the Galaxy debt stands at USD14.0 million. The company is in the process of moving mining machines out of the Mirabel facility, and expects the transaction to close by the end of March.
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Harland & Wolff Group Holdings PLC - London-based fabrication company, which serves the maritime and offshore industries - Says it has been awarded preferred bidder status for the Falkland Islands Port Replacement Project by the Falkland Islands Government. H&W believes this contract could generate total revenues between GBP100 and GBP120 million over a two-year period, with works on the project expected to commence this year.
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Oxford BioMedica PLC - Oxfordshire, England-based gene and cell-therapy company - Updates annual guidance, expecting 2024 revenue of around GBP126 million to GBP134 million. Guidance for the 2023 full-year remains unchanged, with group revenue expected to be around GBP90 million. The group is expecting a loss before interest, tax, depreciation and amortisation for 2023, but is targeting break-even operating Ebitda by the end of 2024.
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By Hugh Cameron, Alliance News reporter
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