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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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Shield Therapeutics PLC - Commercial-stage pharmaceutical company focused on iron deficiency product Accrufer - Issues business update for the first quarter. Reports first quarter revenue of USD4.0 million from around 28,800 prescriptions of Accrufer. Prescriptions rose 1% from the fourth quarter and 174% from a year prior. Further, strengthens balance sheet through an accounts receivable financing with Sallyport Commercial Finance and amends its existing USD20 million debt facility agreement with SWK Funding LLC, with more favourable loan covenant terms. Shield also expects to turn cashflow positive in the second half of 2025 with its current resources. Chief Executive Greg Madison says: "We observed several encouraging growth signals during Q1 2024 including rising prescriptions in key states such as California and New York, after receiving access to Medicaid in those populous states." Confirms full-year guidance.
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Software Circle PLC - Manchester-based software business acquirer - Issues pre-close trading statement for year ending March. Says revenue rises to GBP16.1 million from GBP11.7 million. Adjusted earnings before interest, tax, amortisation and depreciation increases to GBP1.7 million from GBP400,000. "It has been another year of progress and growth despite some unpleasant headwinds from our discontinued operations that are now firmly in our rear-view mirror," company says. Expresses cautious optimism for the coming year. Intends to release full-year results in July.
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ACG Acquisition Co Ltd - Special purpose acquisition company looking to benefit from favourable price conditions for new economy metals and other mining materials - Releases results for 18 months to December 31. Comparative figures are for period June 22, 2021, to June 30, 2022. Administrative costs are GBP20.9 million compared to GBP2.7 million. Pretax loss is GBP25.9 million compared with GBP2.7 million. No dividend paid, unchanged.
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Gem Diamonds Ltd - diamond miner which has operations in Lesotho and Botswana - Announces the recovery of a 118.74 carat type II white diamond recovered at the Letseng mine in Lesotho, the fifth greater than 100 carat diamond recovered to date this year.
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Light Science Technologies Holdings PLC - Derbyshire, England-based agricultural lighting and monitoring systems provider - Provides business update for the year to November 30. In Contract Electronics Manufacturing says current forward order book remains strong at over GBP4 million, putting it on track when combined with orders already invoiced, to meet internal sales expectations for the first half of 2024, and setting a solid foundation for the second half of the year. Adds the pipeline of quoted business currently stands at nearly GBP40 million in the Controlled Environment Agriculture division. The Passive Fire Protection unit has a strong pipeline of quoted work, now valued over GBP9 million.
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Vox Valor Capital Ltd - London-based technology investment company - Says 2023 pretax loss narrows to USD569,585 from USD3.2 million in 2022. Revenue falls to USD5.6 million from USD13.8 million due to the disposal of the Russian subsidiary of the group. Chair John Booth says: "For the year ahead, we look forward to seeing Vox Valor grow further both organically and through mergers and acquisitions. The company is continuing to identify potential acquisitions that are complimentary to the group's strategy where it can generate meaningful synergies from its mobile marketing expertise and technology. The organic growth plans of the group include the expansion of the group's mobile marketing services and technology offer (Mobio) in the UK, Europe and the US."
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Beximco Pharmaceuticals Ltd - generic pharmaceutical products and active ingredients' manufacturer - Says revenue in the three months to March 31, the financial third quarter, rises to GBP79.5 million from GBP74.6 million. Post-tax profit increases to GBP9.9 million from GBP7.1 million. Managing Director Iqbal Ahmed comments: "I am pleased to report strong double-digit growth for the period, despite the impact of macroeconomic headwinds, including challenging exchange rates and elevated domestic inflation. While we expect these headwinds to remain for the foreseeable future, the year-on-year improvement in profitability demonstrates the resilience and strength of our business as we continue to provide high-quality, affordable medicines to patients in Bangladesh and around the globe. We will stay focused on executing on our growth strategy for the remainder of the year and look forward to providing a further update at our full-year results."
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Cordiant Digital Infrastructure Ltd - investor in data centres, telecommunications towers, and fibre networks in the UK, Europe and North America - Chair & Co-Founder Steven Marshall in April buys 310,326 ordinary shares at an average price of 64.0 pence each. Worth around GBP198,000. Marshall now holds around 8.2 million shares in Cordiant, around 1.4% of the entire issued share capital of the company.
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Fusion Antibodies PLC - Belfast-based contract researcher, which provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Issues trading update for the year ended March 31. Reports full-year of unaudited revenue of GBP1.1 million, down from GBP2.9 million the year prior. Highlights increased activity in the second half of the year. Notes "significant" increase in sales pipeline opportunities during the second half, with an order book at March 31 of GBP0.75 million, around 65% of total full-year unaudited revenue.
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Cloudified Holdings Ltd - AIM-listed cash shell - Releases half-year results to September 30, 2023. Reports no revenue, unchanged from a year prior, while pretax loss widens modestly to GBP554,518 from GBP539,709. This reflects higher administrative costs of GBP558,818, up from GBP540,450. Says the company actively pursues the acquisition of another company or business, in exchange for the issue of ordinary shares in a single transaction, as a "reverse takeover." Cash balance at March 31 is GBP530,000.
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Image Scan Holdings PLC - Loughborough, England-based x-ray screen system supplier - In the six months to March 31 says revenue falls to GBP1.1 million from GBP1.5 million. Pretax loss widens to GBP119,000 from GBP16,000, period-end order book falls to GBP729,000 from GBP1.1 million. Chief Executive Officer Vince Deery says: "The H1 2024 performance is a reduction over the same period last year, however, the pipeline is buoyed by the introduction of the new products and the participation in a large volume mainly government opportunities. The increase in margin reflects the product mix and great efforts on combatting inflationary pressures. Taking into consideration our careful cost management and the opportunity pipeline, the Board is confident of delivering a full year performance in line with market expectations."
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Tan Delta Systems PLC - Sheffield, England-based provider of oil-quality monitoring and maintenance systems for commercial and industrial equipment - In 2023, says revenue falls to GBP1.5 million from GBP1.6 million. Swings to pretax loss of GBP1.1 million from profit of GBP278,428 as administrative expenses balloon to GBP2.0 million from GBP686,484. Chair Simon Tucker says: "Whilst revenues were lower than prior year, I am pleased with operational progress achieved following our successful IPO in August 2023, both during the rest of 2023 but also continuing into the current year." Tucker highlights a "lean" overhead structure and material progress growing a new sales prospects pipeline to around GBP4.0 million, which he expects to start converting into sales during the second half of the current year. Additionally, Tucker notes several "very substantial" strategic customers where ongoing trials are expected to finalise in 2024 and result in long term supply contracts and commencement of revenues. "Our proposition is gaining traction and we are increasingly confident about our future prospects," Tucker adds.
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By Jeremy Cutler, Alliance News reporter
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