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Pin to quick picksValiRx Share News (VAL)

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EARNINGS UPDATES: ValiRx reports narrowed loss; McBride revenue slips

Tue, 07th Sep 2021 15:05

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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ValiRx PLC - life science company - Reports narrowed pretax loss of GBP785,434 for the six months to the end of June versus GBP884,523 posted a year before. ValiRX says its administrative expenses reduced to GBP618,228 from GBP791,866 a year earlier, but research & developments costs rose to GBP166,500 from GBP99,879. "I look forward to continued progress with our existing projects and the opportunity to build on our concept of connected innovation," says Non-Executive Chair Kevin Cox.

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McBride PLC - domestic household products manufacturer - Reports revenue decline of 3.4% for the year to the end of June to GBP682.3 million from GBP706.2 million posted in financial 2020. On a constant currency basis, revenue falls by 4.0% year-on-year. Pretax profit, however, climbs to GBP11.3 million from GBP11.2 million the year prior amid reduction in administrative costs to GBP165.2 million from GBP168.3 million. McBride reviews its dividend policy as part of its strategy reset, with no final dividend proposed, unchanged year-on-year. "We continue to anticipate a weak first half year, especially when compared to our strong first half last year, with profits therefore heavily weighted to the second half of the year," says Chief Executive Chris Smith.

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Alumasc Group PLC - building products supplier - Reports 19% growth in revenue from continuing operations to GBP90.5 million for the financial year to June 30 from GBP76.0 million the year ago. Pretax profit, meanwhile, jumps to GBP9.8 million from GBP2.7 million year-on-year. The company declares final dividend of 6.25 pence a share, taking a full-year payout to 9.5p, up from 2.0p paid the year before. "I am delighted to report this excellent set of results to our shareholders and believe Alumasc is well-positioned to benefit from the long-term growth drivers in our market," says CEO Paul Hooper.

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DP Eurasia NV - Netherlands-based pizza delivery company - Reports system sales for the six months to June 30 of TRY1.05 billion, about GBP91.5 million, up 58% year-on-year. System sales like-for-like growth totals 18% in the half year. Revenue rises by 50% to TRY658.0 million. Full year guidance for Turkey like-for-like raised to 35% - 40% from 21% - 25% guided previously, and adjusted earnings before interest, tax, depreciation and amortisation expected to be slightly ahead of current market expectations, the company notes. "Digital continues to be the driving force behind our sales with the digital mix in delivery reaching record levels in both Turkey and Russia for the first half of the year," says CEO Aslan Saranga. Online delivery system sales as a share of delivery system sales stood at 78% for the half year, rising from 75% a year before.

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Luceco PLC - LED lighting manufacturer and distributor - Posts revenue growth of 51% for the six months to the end of June to GBP108.2 million from GBP71.6 million recorded a year earlier. On a constant currency basis, revenue is up 58% year-on-year. Pretax profit almost doubles to GBP16.6 million from GBP8.4 million the year prior. Luceco declares dividend of 2.6p a share, up from 1.5p paid the year before. "The group has outperformed the market throughout its history thanks to its leading brands, strong channel relationships, well-invested product innovation and operational agility. The competitive advantages of our business model have been accentuated during Covid, accelerating our market share gains," says CEO John Hornby.

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GRC International Group PLC - supplier of cyber security, risk management and compliance products - Reports revenue for the financial year to March 31 down 16% to GBP11.8 million from GBP14.1 million due to the pandemic. However, pretax loss narrowed to GBP2.8 million from GBP3.7 million year-on-year. This is due to a reduction in total administrative expenses to GBP8.9 million from GBP11.6 million the year prior. Going forward, the company says positive performance seen in the final quarter of its financial 2021 continued into the first quarter of its current financial year.

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EPE Special Opportunities Ltd - investment firm - Reports net asset value per share of 542.30p as at July 31e, representing an increase of 24% on the NAV per share of 437.63p as at January 31. The share price stood at 393.00p at the end of July, representing an increase of 45% on the share price of 271.00p as at the end of January. "The performance of the company in the six months ended July 31 was strong despite the ongoing disruption caused by the Covid-19 pandemic. The company has continued to make progress in the existing portfolio and has successfully completed a new investment in the period," says Chair Clive Spears.

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RA International Group PLC - remote site services provider - Reports revenue of USD26.2 million for the six months to the end of June, down from USD35.4 million posted the year earlier. Pretax profit declined to USD800,000 from USD1.6 million year-on-year. "We are cautiously optimistic and starting to see encouraging signs that the business environment is improving; depending on timing, this could boost our second half performance, but in any event should bridge to a stronger 2022," says CEO Soraya Narfeldt.

Separately, RA International reports the award of a new contract in a joint venture with ECC, the US based global construction and environmental remediation contractor. The contract with US Navy facilities engineering systems command far east is a five year contract for design and construction services supporting their base on the island of Diego Garcia in the Indian Ocean. The contract ceiling for this award is USD249 million and RA International and ECC will compete for individual task orders with four other awardees.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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20 Jun 2019 09:54

ValiRx secures 'substantial amendment' to VAL201 clinical trials

(Sharecast News) - Clinical stage biotechnology company ValiRx updated the market on 'VAL201' on Thursday, confirming that, based on clinical results, a "substantial amendment" to the clinical trial protocol had received regulatory approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) and the research ethics committee.

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13 Jun 2019 11:07

ValiRx Subscription Raises GBP300,000 For Drug Trial And Development (ALLISS)

(Alliance News) - ValiRx PLC on Thursday said it raised GBP300,000 via subscription for working capital and to progress the clinical trial of its VALL201 cancer drug.Shares in ValiRx a 31%

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10 Jun 2019 09:50

ValiRx In Discussions With Investor To End Subscription Agreement (ALLISS)

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5 Jun 2019 10:54

ValiRx Convertible Bond Talks In Advanced Stage; Plans Open Offer (ALLISS)

LONDON (Alliance News) - ValiRx PLC on Wednesday said it is in advanced discussions with European High Growth Opportunities SF to enter a new convertible bond facility and is planning an open in a

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31 May 2019 12:04

ValiRx Extends Talks With Investor Over New Convertible Bond (ALLISS)

LONDON (Alliance News) - ValiRx PLC on Friday said it has extended the deadline to enter into a new convertible bond with European High Growth Opportunities SF to July 1.The cancer life was

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29 May 2019 10:41

ValiRx Annual Loss Widens On Higher Costs And Fair Value Losses

LONDON (Alliance News) - ValiRx PLC on Wednesday reported a widened annual loss due to higher costs and losses on the fair value of financial assets.For 2018 the life sciences company, on a

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29 May 2019 10:19

ValiRx losses widen as it continues to progress drug development

(Sharecast News) - Life science company ValiRx reported a loss before income tax of £4.83m in its final results on Wednesday, widening from the £3.55m loss it posted a year earlier.

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2 May 2019 15:21

ValiRx Partners With Alpha Blue Ocean And Buys IP Assets Of FIT Bio

LONDON (Alliance News) - ValiRx PLC on Thursday said it has agreed to acquire the IP assets of FIT Bio for EUR5,000 and establish a genetic therapeutic and diagnostic-based joint venture with Blue

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2 May 2019 09:51

ValiRx acquires IP of failed firm FIT Biotech, forms joint venture

(Sharecast News) - Clinical stage biotechnology company ValiRx announced the acquisition of the global granted patents and intellectual property assets of FIT Biotech for a nominal sum on Thursday.

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26 Apr 2019 14:54

ValiRx To Raise GBP1 Million Under Deal With European High Growth (ALLISS)

LONDON (Alliance News) - ValiRx PLC on Friday said it has entered into a GBP1.3 million subscription agreement with European High Growth Opportunities SF.The stock was trading 17% lower on

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26 Mar 2019 10:22

ValiRx Notes ValiSeek Co-Financing Deals For VAL401 Cancer Drug

LONDON (Alliance News) - Biotechnology firm ValiRx PLC on Tuesday said ValiSeek has secured letters of intent from two companies to co-finance the development of cancer drug VAL401.Shares a

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21 Mar 2019 09:53

ValiRx Notes Encouraging Performance Of VAL201 In Cancer Trial

LONDON (Alliance News) - ValiRx PLC on Thursday said an interim inspection of its VAL201 early phase cancer trial shows the drug is performing as predicted.Shares in ValiRx were up 13% at a

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21 Feb 2019 12:46

ValiRx Raises GBP500,000 Through Placing To Advance Clinical Trials (ALLISS)

LONDON (Alliance News) - ValiRx PLC on Thursday raised GBP500,000 through a share placing to expand its clinical trial of VAL201, as well as the VAL301 and VAL101 programmes.ValiRx issued a

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31 Jan 2019 13:37

ValiRx Secures Patent For VAL301 Compound In Russia And China

LONDON (Alliance News) - ValiRx PLC on Thursday said it has been granted a patent allowance for its therapeutic compound VAL301 in both Russia and China.The clinical stage biotechnology has

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31 Jan 2019 10:08

ValiRx allowed patents for VAL401 in Russia and China

(Sharecast News) - Clinical-stage biotechnology company ValiRx announced on Thursday that the patent offices of Russia and China had both granted a patent allowance for its pre-clinical therapeutic compound, VAL301, subject to payment of the relevant fees.

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