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(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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Tremor International Ltd - video advertising technologies firm - Reports "record" performance in the second half of 2020 and the fourth quarter. Second half adjusted earnings before interest, tax, depreciation and amortisation is USD58.7 million, up 51% year-on-year. Revenue for 2020 overall is USD211.9 million, down from USD325.8 million in 2019, and Tremor swings to a pretax loss of USD7.4 million from a 2019 profit of USD3.6 million. Adjusted revenue rises 2%. "Building on the momentum from last year, we have seen a strong start to 2021 compared to the same period, pre Covid-19, in 2020, driven by strong organic growth," company says.
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TT Electronics PLC - engineered electronics and manufacturing services - Revenue for 2020 slides to GBP431.8 million from GBP478.2 million, while pretax profit shrinks to GBP2.9 million from GBP13.2 million. Says performance has been on a recovering trend since pandemic hit, which strengthened in the fourth quarter and continued into 2021. Resumes dividend with a final payout of 4.7p.
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Kin & Carta PLC - business consultancy firm - Reports a decline in interim revenue but says it is on track for full-year expectations. Revenue for half-year to January 31 falls to GBP77.1 million from GBP84.1 million a year ago, with pretax loss steady at GBP6.4 million versus GBP6.5 million. Says recovery from pandemic showing "sustainable momentum", and says strong demand gives board confidence in achieving significant growth in the second half and meeting full-year expectations. "Trading at the start of the second half underpins these expectations as market demand for our services continues to increase in all of our regions, as evidenced by our growing pipeline and record backlog," company says.
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Aptitude Software Group PLC - financial management software firm - Says revenue for 2020 falls 4% to GBP57.3 million and pretax profit edges down to GBP8.1 million from GBP8.8 million. Notes year-on-year 11% growth in annual recurring revenue on a constant currency basis, driven by new business wins and the expansion of existing customer relationships. "With a strong sales performance in the final quarter of the year and a growing pipeline, Aptitude Software looks forward to 2021 with confidence and anticipates a financial outcome at least consistent with 2020," says Chief Executive Jeremy Suddards. Keeps dividend steady at 5.40p for the year.
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Somero Enterprises Inc - Fort Myers, Florida-based concrete levelling equipment company - Revenue for 2020 falls 1% to USD88.6 million and pretax profit falls 9% to USD24.6 million. Says 2020 was a "healthy year of revenues, profits and cash generation", driven by strong trading in the second half. Board approves 12.81 cent dividend - bringing ordinary payout for the year to 16.81 cents when adding in the 4 cent interim payment - and supplemental 18.1 cent payout. Company confident in outlook for 2021 and expects a profitable year with revenue growing in the mid-single digit percentage range and Ebitda increasing modestly on 2020.
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EP Global Opportunities Trust - Edinburgh-headquartered investor in quoted equities globally - Reports net asset value per share of 308.4p at end of 2020, down 3.9% on 320.8p at end of 2019. NAV total return minus 1.3% versus return of 6.0% in 2019. Final dividend per share steady at 6.0p, though no special payout for 2020 means this is the only dividend for the year, down from 7.5p for 2019. Firm says it was a "difficult year for value investors".
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Berkeley Energia Ltd - clean energy company focused on bringing its wholly owned Salamanca project in Spain into production - Reports pretax loss of USD32.6 million for half-year ended December 31, wider than the USD5.7 million a year before as it takes fair value loss on financial liabilities of USD22.0 million versus just USD1.4 million a year before. No revenue reported for either period.
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Scotgems PLC - small cap companies investor - Net asset value per share 85.86p at end of 2020, down 1.3% from 87.0p a year before, while share price rose 2.1%. "This compares to a rise in the MSCI Emerging Markets Small Cap Index of 8.5% and a fall in the MSCI Emerging Markets ex Asia Index of 15.3%," company notes.
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Vaalco Energy Inc - hydrocarbon exploration company - Crude oil and natural gas sales for 2020 fall to USD67.2 million from USD84.5 million and swings to pretax loss of USD20.4 million from profit of USD21.0 million the year before. This is after USD30.6 million impairment of proved crude oil and natural gas properties. Company says it performed well in 2020 despite difficult conditions. "Cost discipline and operational excellence remain core priorities for VAALCO as we seek to maximize profitability and maintain a strong balance sheet with a healthy cash position. In the fourth quarter of 2020, we continued to perform well operationally with net production of 4,662 BOPD, despite curtailing production to support Gabon meeting OPEC+ production mandates," says Chief Executive Cary Bounds.
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By Lucy Heming; lucyheming@alliancenews.com
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