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Pin to quick picksTreatt Share News (TET)

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TRADING UPDATES: Treatt revenue falls; Secure Trust profit picks up

Thu, 25th Jan 2024 20:21

(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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Secure Trust Bank PLC - Solihull, England-based provider of savings accounts and lending services - Continues to trade in line with management expectations in the fourth quarter ended December 31, with a significant increase to year-on-year underlying pretax profit and impairments. Net lending grew by around 14% in the year to GBP3.3 billion, a significant step towards the GBP4 billion ambition. Says all four specialist lending businesses delivered record levels of new lending in 2023. Company remains on track to deliver GBP5 million in annualised savings from cost optimisation programme in 2024.

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Treatt PLC - manufacturer and supplier of extracts and ingredients for the beverage, flavour and fragrance industries - Trading update ahead of annual general meeting. Revenue performance in first quarter, typically the quietest quarter, saw a decline year on year as anticipated, reflecting the impact of destocking. Reports encouraging signs that destocking trends are reversing, expects customer demand to return to more normal levels in second quarter. On track for further improvement in net debt in line with expectations.

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Mortgage Advice Bureau Holdings PLC - Reports trading was better than anticipated in the fourth quarter to December 31. Expects to report an adjusted pretax profit slightly ahead of current market consensus.

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Tissue Regenix Group PLC - Leeds, England-based medical device company - Trading update for year ended December 31. Total revenue expected to increase by 21% to USD29.5 million from USD24.5 million, ahead of expectations. An adjusted earnings before interest, tax, depreciation and amortisation profit is expected for 2023, ahead of expectations. Company says trading was very strong, with growth achieved across all three segments of the business. Continues to see robust demand for its portfolio of products. Says revenue growth in 2023 was driven by the BioRinse segment. Expects positive trading conditions to remain through 2024.

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Novacyt SA - Eastleigh-based biotechnology group focused on clinical diagnostics - Expects revenue for 2023 to total around GBP11.6 million, in line with guidance. 2022 revenue was GBP21.0 million. Cash position at December 31 was GBP44.1 million, down from GBP81.7 million, reflecting the acquisition of Yourgene. Remains debt free.

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Aquis Exchange PLC - London-based financial markets operator, including pan-European equities trading platform Aquis Markets and UK growth-company market Aquis Stock Exchange - Expects to report performance for full-year 2023 in line with board expectations. Sees revenue up 12% to GBP22.6 million from GBP20.1 million in 2022, pretax profit up 16% to GBP5.2 million from GBP4.5 million and cash up 4% to GBP14.8 million from GBP14.2 million. For the Data division, revenue is up 23%. Technologies revenue is up 19%, while Markets is up 7%.

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Epwin Group PLC - Solihull, England-based building products' manufacturer - Expects full-year 2023 underlying operating profit to be towards upper end of market expectations. This would be a significant increase over financial 2022. Says trading remained resilient through to the end of the year. Trading in the first weeks of 2024 has been in line with the expectations.

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Animalcare Group PLC - trading update for year to December 31. Expects full year revenue to be around GBP74.4 million, up 4% from GBP71.6 million the year prior. Anticipates underlying earnings before interest, tax, amortisation and depreciation will be in line with market expectations and at least in line with 2022's GBP13.1 million. Headline revenue benefited from strong growth in the Companion Animals oral health range, notably Plaqtiv+, demand for Danilon in Equine and continuing momentum of the Identicare pet microchipping and consumer-focused services business.

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Empresaria Group PLC - Crawley, England-based recruitment company - Net fee income drops 12% to GBP57.5 million, down 11% in constant currency. Expects adjusted pretax profit to be at the top end of the range guided to in November, of GBP3.0 million to GBP3.5 million. Offshore Services continues to perform well, with net fee income up 4% despite challenging market conditions. Explains permanent placement activity has been most significantly impacted with net fee income down 25% year-on-year. Temporary and contract net fee income is down 10%.

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Personal Group Holdings PLC - Milton Keynes-based employee benefits and services provider - Predicts revenue of GBP103 million, up from GBP86.7 million in 2022 and adjusted earnings before interest, tax, depreciation and amortisation of GBP8.0 million, up from GBP6.0 million the year before, in line with market expectations. Total recurring revenue increases by 14% to GBP38.3 million, insurance annualised premium income rises 13% to GBP31.6 million. Trading in the first few weeks of 2024 has been positive, reinforcing confidence in ongoing delivery moving forward.

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Strix Group PLC - Isle of Man-based provider of kettle safety controls - Reports adjusted pretax profit of GBP20.6 million on a constant currency and GBP20.1 million on a reported basis. Demand for kettle controls in the key export regulated markets remains subdued, and whilst it has delivered quarter on quarter recovery during 2023 which it expects to continue, it remains around 20% lower by volume than 2021 and the recovery has been slower than anticipated. Strix also announces appointment of Clare Foster as chief financial officer. Says Foster will join Strix on February 1 and formally take office on April 2.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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