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Pin to quick picksTaylor Maritim Share News (TMI)

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TRADING UPDATES: Strong performances from Goodwin, Character Group

Wed, 15th Dec 2021 17:06

(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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Character Group PLC - Surrey, England-based toy, games and gifts manufacturer - For the year ended August 31, pretax profit rises sharply to GBP15.3 million from GBP3.9 million the year before, driven partly by the sale of its Vernon Hill properties, and a 29% year-on-year increase in revenue to GBP140.0 million from GBP108.9 million, through continued sales growth in the US. Declares final dividend of 9.0 pence per share, bringing the total payout to 15.0 pence, tripled from 5.0p. Looking ahead, expects margins to be under pressure due to high freight rates and increased material costs, but company believes it is on track to meet market expectations.

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Goodwin PLC - engineer based in Stoke-on-Trent - For the six months ended October 31, pretax profit rises 33% to GBP7.7 million from GBP5.8 million the same period a year before, on revenue which increases 10% year-on-year to GBP68.9 million from GBP62.6 million, driven by a strong performance from Refractory Engineering, with like-for-like sales growth of 40%. Looking ahead, expects profit for the second half to outperform the first.

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musicMagpie PLC - Manchester-based used-technology reseller - For the year ended November 30, adjusted earnings before interest, tax, depreciation and amortisation is set to be GBP12.2 million, down from GBP13.9 million the year before, while revenue is expected to be GBP145.2 million, a decline from GBP153.4 million. However, the result is in line with management expectations, through growth in the group's core consumer technology business.

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Taylor Maritime Investments Ltd - London-based investor in dry bulk shipping - As at September 30, net asset value per share increases to USD1.39 from USD0.98 at the company's initial public offering at May 27. Fleet as at September 30 consists of 32 vessels with a total market value of USD535 million.

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OTAQ PLC - Lancaster-based producer of marine technology for offshore oil and gas industries - For the six months ended September 30, pretax loss widens at GBP881,000 from GBP115,000 the same period a year prior, on increased administrative costs and a 10% year-on-year drop in revenue to GBP1.8 million to GBP2.0 million, as Covid travel restrictions cripple the Aquaculture segment. Looking ahead, expects regulatory review in Scottish aquaculture market to affect the company's annual results.

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Haydale Graphene Industries PLC - Ammanford, Wales-based nanomaterial producer - For the year ended June 30, pretax loss narrows to GBP3.8 million from GBP4.4 million the year before, due to a fall in administrative expenses, and revenue remaining flat at GBP2.9 million.

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VSA Capital Group PLC - Investment banking and broking firm - For the six months ended September 30,swings to pretax loss of GBP235,000 from profit of GBP1,000 a year prior, due to a jump in administrative expenses, more than offsetting the generation of GBP1.2 million in revenue on the IPO of Tungsten West PLC.

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M&C Saatchi PLC - London-based advertising agency - Due to continued strong trading, operating profit is expected to be materially ahead of expectations, with robust performances in the final quarter so far, particularly from the Performance Media and Global & Social Issues divisions, with new assignments from existing clients.

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Time Finance PLC - Bath, England-headquartered funding solutions provider - For the six months ended November 30, has continued to experience positive trading momentum, with the gross lending book rising to GBP121 million at the end of November from GBP116 million at May 31.

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Made Tech Group PLC - London-based provider of services that enable central government, healthcare and local government organisations to modernise technology - For the six months ended November 30, gross profit rises 98% year-on-year to GBP4.6 million from GBP2.3 million, on revenue which more than doubled to GBP11.7 million from GBP5.1 million, driven by new contract bookings, clients and an expansion of its regional presence.

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Midwich Group PLC - audio visual technology distributor - For 2021, expects adjusted pretax profit to be at least GBP30 million, ahead of its prior expectations, and a sharp rise from GBP14.2 million the year before as the company recovers from pandemic lows.

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AfriTin Mining Ltd - tin mining company which operates the Uis tin mine in Namibia - For the third quarter ended November 30, tin production increases 20% quarter-on-quarter to 136 tonnes, while ore processed rises 17% to 149,000 tonnes. Construction of the Uis phase one expansion project is on-track and budget, while workstreams for the phase two expansion have started, including exploration drilling targeting resource expansion to 150 million tonnes.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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