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Share Price: 875.00
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Change: -32.00 (-3.63%)
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TRADING UPDATES: McColl's decides against payout; Luceco profit surges

Tue, 23rd Mar 2021 11:27

(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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McColl's Retail Group PLC - convenience store chain - Sales in year ended November 29 up 3.2% to GBP1.26 billion from GBP1.22 billion. Pretax loss narrows to GBP5.3 million from GBP98.6 million as adjusting items fall to GBP3.4 million from GBP102.4 million. Adjusting items in financial 2019 included a goodwill impairment of GBP102.4 million. Does not declare final payout, nor did it pay an interim dividend. In financial 2019, dividends totalled 1.3 pence per share. Says like-for-like sales up 8.8% in 15 weeks to March 14. "As lockdown restrictions begin to ease, we expect our sales mix to normalise with higher purchases of impulse products and a progressive reversion towards pre-pandemic margins," McColl's says.

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Luceco PLC - LED lighting manufacturer - Posts 2.4% revenue rise in 2020 to GBP176.2 million from GBP172.1 million. Pretax profit surges 97% to GBP33.6 million from GBP17.1 million. Luceco boosts its dividend to 6.2p per share from 2.3p. Revenue had fall 13% in first half but recovered to post a 17% surge in second half of 2020. "Our record-breaking performance in 2020 is a testament to our structural resilience, operational agility and our committed, hard-working employees, CEO John Hornby says.

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Accesso Technology Group PLC - technology services provide to leisure and entertainment markets - Revenue in 2020 slumps 52% to USD56.1 million from USD117.2 million. However, pretax loss narrows to USD32.9 million from USD57.6 million. In 2019, Accesso posted USD53.6 million impairment related to The Experience Engine unit.

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Fintel PLC - business services provider to financial advisers - Revenue in 2020 falls 2.8% to GBP61.0 million from GBP62.8 million. Pretax profit falls 6.0% to GBP10.2 million from GBP10.8 million. Annual payout cut by a third to 2.85p per share from 4.26p. Plans progressive payout policy going forward.

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Personal Group Holdings PLC - Milton Keynes-based employee benefits firm - Revenue in 2020 rises 0.9% to GBP71.5 million from GBP70.9 million. Pretax profit falls 18% to GBP8.6 million from GBP10.5 million, amid the absence of a GBP1.3 million release of provisions which boosted profit in 2019. Total dividend cut by 43% to 13.3p per share from 23.3p.

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IQGeo Group PLC - Cambridge, England-based software company - Pretax loss narrows in 2020 to GBP4.4 million from GBP6.2 million. Revenue rises 17% to GBP9.2 million from GBP7.8 million. "The year has seen significantly improved financial results with growth in both orders and in recurring revenue," Chief Executive Officer Richard Petti says.

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essensys PLC - London-based software for flexible workspace operators - Pretax loss widens to GBP1.7 million during six months ended January, from GBP100,000 a year earlier. Revenue falls 7.0% to GBP10.6 million from GBP11.4 million. "Underlying office occupancy has started to recover noticeably following the very recent announcements regarding the route out of lockdown in the UK which is expected to lead to a recovery in Marketplace revenues in due course," essensys says. "The existing contracted pipeline, increased sales bookings and improved customer activity levels means that the board continues to expect results for the current year to be in line with market expectations."

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YouGov PLC - London-based research data and analytics group - Revenue in six months ended January 31 climbs 2.7% year-on-year to GBP79.0 million from GBP76.9 million. Pretax profit down 15% to GBP7.8 million from GBP9.2 million. Amortisation costs up 36% to GBP6.8 million from GBP5.0 million. Like last year, pays no interim dividend. "The second half has started well, with a strong sales pipeline for the remainder of the financial year to July 31, 2021," YouGov says. Adds trading is in line with board expectations.

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Nucleus Financial Group PLC - Edinburgh-based financial wrap platform - Revenue in 2020 rises 0.6% to GBP51.8 million from GBP51.5 million. Pretax profit falls 42% to GBP4.0 million from GBP7.0 million. Dividend cut by 80% to 0.8p per share from 3.9p. Decides against final dividend for 2020 amid GBP144.6 million, 188p per share, takeover offer from James Hay Holding Ltd.

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H&T Group PLC - Surrey, England-based pawnbroker - Revenue in 2020 falls 19% to GBP129.1 million from GBP160.2 million. Pretax profit down 22% to GBP15.6 million from GBP20.1 million. However, H&T notes it ended 2020 "robustly". "We have benefitted from the high gold price," CEO Chris Gillespie says. H&T ups payout by 81% to 8.5p per share from 4.7p.

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Arrow Global Group PLC - buyer of debt from banks, credit card companies and telecommunications businesses - Total income plunges 51% in 2020 to GBP167.5 million from GBP339.5 million. Arrow Global swings to pretax loss of GBP114.8 million from GBP51.3 million amid GBP100.4 million impairment loss of portfolio investments, versus GBP12.7 million gain in 2019. Total funds under management climb to EUR4.3 billion from EUR3.7 billion. Plans to resume dividends "earlier than originally planned". To pay a final dividend in 2021. "Trading in 2021 has started the year strongly. Our new set of five-year targets demonstrate our confidence in our ability to grow both the quantum and quality of the group's earnings significantly as we look to raise new funds and grow funds under management," CEO Lee Rochford says. Also notes that UK regulators grant suitor TDR Capital LLP extension to announce whether or not it plans to make firm offer for Arrow Global. "Such announcement must now be made by not later than 5.00pm on April 1 2021," Arrow Global says.

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GCP Asset Backed Income Fund Ltd - UK asset backed loan investor - Net asset value per share at December 31 financial year end down 0.1% to 102.18p from 102.33p. Raises total payout by 0.4% to 6.475p per share from 6.45p, amid 0.25p special dividend.

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EPE Special Opportunities Ltd - investment company - Net asset value per share at January 31 year-end rises 38% annually to 437.63p from 317.18p. EPE says this was "driven primarily" by positive trading at investee Luceco PLC. Notes Luceco's share price surged 85% in the year to January 31. EPE adds that Whittard of Chelsea's was hit by Covid-19. "The board is looking forward to the upcoming re-opening of Whittard's stores, although it is carefully monitoring the outlook for inbound tourism to the UK, which contributed to sales through UK stores," EPE says. Like in financial 2020, EPE did not pay a dividend.

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MJ Hudson Group PLC - asset management consultancy headquartered in London - Revenue in six months ended December 31 rises 14% to GBP11.3 million from GBP9.8 million. Pretax loss narrows to GBP2.1 million from GBP3.1 million. Expects to pay a maiden dividend during current financial year. "The quantum of this dividend will be set in our preliminary results for the year to June 2021," MJ Hudson says.

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Mortgage Advice Bureau Holdings PLC - Derby-based mortgage adviser - MAB's revenue in 2020 rises 3.2% to GBP148.3 million from GBP143.7 million. Pretax profit falls 16% to GBP14.9 million from GBP17.7 million. Total payout raised by 46% to 25.6p from 17.5p. "We took quick and decisive action in response to the pandemic that resulted in us not only coming through an incredibly difficult period in great shape and ensuring that our 2020 strategic objectives were met," CEO Peter Brodnicki says.

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Henry Boot PLC - construction firm - Revenue in 2020 falls 41% to GBP222.4 million from GBP379.7 million. Pretax profit plunges 65% to GBP17.1 million from GBP49.1 million. Ups payout by 10% to 5.5 pence per share from 5.0p. "Given the group's confidence in our strong balance sheet and that we operate in markets that will continue to deliver returns over the longer term, the board has proposed to continue to pay a dividend," Henry Boot says. "Whilst Covid-19 had an impact on the group's 2020 performance, there was still resilient demand within the markets we operate in, leaving us optimistic for the year ahead."

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Target Healthcare REIT PLC - UK purpose-built care home investor - EPRA NAV per share at December 31, end of first half, up 0.1% to 108.2p from 108.1p. Pretax profit down 4.5% to GBP15.8 million from GBP16.6 million a year earlier. Total revenue up 19% to GBP24.9 million from GBP20.8 million but total expenditure up 48% to GBP6.0 million. First half payout upped 0.6% to 3.36p from 3.34p.

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Alliance Pharma PLC - pharmaceutical company based in Wiltshire - Revenue in 2020 down 4.3% to GBP129.8 million from GBP135.6 million. Pretax profit drops 58% to GBP13.0 million from GBP31.1 million. "The group delivered a robust operational and financial performance in 2020, despite the challenges of the pandemic. Whilst top line revenue growth was constrained, our Consumer Healthcare business has performed well and we have seen some strong performances from a number of our brands, in particular Kelo-cote," CEO Peter Butterfield says. Dividend upped to 1.610p from 0.536p.

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DP Eurasia NV - master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia - Revenue in 2020 rises 4.0% to TRY1.02 billion, about GBP93.9 million, from TRY980.2 million. Swings to pretax loss of TRY93.6 million from TRY6.7 million. General administrative expenses rise 7.4% to TRY161.7 million, marketing and selling expenses up 24% to TRY169.5 million. Posts TRY16.4 million foreign exchange loss, from TRY4.7 million gain.

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Longboat Energy PLC - aiming to acquire North Sea-focused exploration and production assets - Pretax loss widens to GBP2.4 million in 2020 from GBP196,301. Like last year, Longboat generates no revenue. Administrative expenses came in at GBP2.4 million, up sharply from GBP198,051. "Longboat is currently participating in a number of potential acquisition processes where we have unique knowledge and can take advantage of the continuing market dislocation," Longboat says.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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