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(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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Premier Miton Group PLC - London-based asset manager - Closes year to September 30 with assets under management of GBP13.9 billion, up 31% from GBP10.6 billion at same point year before. Records GBP830 million of net inflows, reversed from GBP619 million outflows year before, particularly aided by continued success from several of its single strategy funds. Chief Executive Mike O'Shea says: "I am pleased to deliver a strong set of results for the group. We have achieved net inflows of GBP830 million in 2021, with all four quarters seeing positive flows. In terms of investment performance, 83% of our funds are outperforming since manager tenure. From a financial point of view, we have a healthy level of cash on our balance sheet and our AuM is at an all-time high." Annual pretax profit almost doubles to GBP17.5 million from GBP9.6 million as revenue surges 27% to GBP84.5 million from GBP66.8 million. Increases total annual dividend to 10.0 pence from 7.0p.
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Mercia Asset Management PLC - Henley-in-Arden, England-based investment company - Assets under management ends first half at GBP948 million, up from GBP940 million six months earlier and up from GBP872 million at same point year before. Operating profit in six months to September 30 grows to GBP10.7 million from GBP8.0 million year before, as revenue improves to GBP10.1 million from GBP8.4 million and books GBP8.7 million gain in fair value movements from investments. Declares interim dividend of 0.3 pence, up from 0.1p year before. Chief Executive Mark Payton says: "I am pleased with this strong performance and the continued growth and value creation that we have delivered across our portfolio in the six-month period under review. I believe that against a backdrop of economic recovery, this positive momentum is set to continue, reinforcing our position as one of the most active UK investors in our chosen areas across venture, private equity and debt."
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Iomart Group PLC - Glasgow-based cloud computing company - Pretax profit in six months to September 30 broadly flat year on year at GBP6.0 million, but revenue slips to GBP51.9 million from GBP56.3 million. Administrative expenses drops to GBP24.4 million from GBP27.6 million. Declares interim dividend of 2.42 pence, down from 2.6p a year before. Chief Executive Reece Donovan says: "We are energised by our refreshed strategy, new brand and clear focus. The early customer wins from the new sales campaigns are excellent signs that the strategy is on track and starting to deliver tangible results. iomart's high level of recurring revenue remains a considerable strength, providing good visibility for the remainder of the year. Current trading is in line with the board's expectations for the full year."
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Falanx Group Ltd - Reading, England-based cyber security - Pretax loss in six months to August 30 narrows to GBP746,906 from GBP1.4 million a year before. Interim revenue improves to GBP2.8 million from GBP2.5 million. Chair Alex Hambro says: "Following the disposal of Assynt in October 2021, Falanx is now a 'pure play' Cyber Security services business which is well positioned and financed to address the growing market opportunity created by constantly increasing risks in the digital world. Customer demand has grown significantly compared with the pre-pandemic environment. Our new initiatives are gaining interest from both direct customers and from our larger partners, and we are beginning to achieve sales of these innovative services. Our core service offerings of penetration testing, and protective monitoring are doing well, have moved into profitability and provide us with a solid foundation for growth with their large customer bases."
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Jaywing PLC - Sheffield, England-based data-driven advertising and marketing agency - Pretax loss in six months to September 30 narrows to GBP44,000 from GBP251,000 loss year before. Revenue improves to GBP15.1 million from GBP11.3 million. Chief Executive Andrew Fryatt says: "We are pleased to report net revenue growth of 24% in the first half, returning to pre-pandemic levels, despite what continues to be a challenging market. Net revenue per head increased by 22% year on year to GBP40,000. The business also achieved a significant improvement in underlying profitability, which has been somewhat masked by the impact of Covid-related support and salary sacrifice during 2020. Excluding these, Ebitda improved from GBP41,000 to GBP986,000."
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Webis Holdings PLC - Isle of Man-based gaming firm - Improves to pretax profit of USD824,000 in year ended May 31 from USD284,000 loss year before, as revenue grows to USD55.7 million from USD43.4 million. Chair Denham Eke says: "This is a very significant turnaround from our previous losses in 2020 and 2019 and shows signs of promise for the future. I am pleased to report an excellent performance from our core USA based business WatchandWager.com over the financial year with a significant surge in profitability. The company has proved to be robust despite the impact of Covid-19 upon our key content and operations. Our online business performed well, and our racetrack operation at Cal Expo was also remarkably resilient in the face of difficult operational challenges."
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Solid State PLC - Redditch, England-based electronic components manufacturer - Pretax profit in six months to September 30 slips to GBP2.1 million from GBP2.4 million a year before. Interim revenue grows 19% year on year to GBP39.4 million from GBP33.1 million. Half-year dividend rises to 6.25 pence from 5.25p. Chair Nigel Rogers says: "Our half year results are particularly pleasing given the widely reported challenges in the global supply chain and more local pressures in staffing and the foreign exchange headwinds at a revenue level. The successful acquisition programme has added resilience and opened up opportunities to grow the business in targeted regions and industry sectors. We continue to see acquisitions as a pillar of our growth strategy." Confident in meeting annual expectations, as order book at record of GBP70.3 million at September 30.
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Kinovo PLC - London-based gas heating, electrical and building services - Improves to pretax profit of GBP1.0 million in six months to September 30 from GBP449,000 loss year before. Revenue improves to GBP23.8 million from GBP14.5 million and administrative expenses drops to GBP560,000 from GBP1.2 million. Reinstates dividend, paying 0.5 pence to shareholders. Chief Executive David Bullen says: "This has been the first six-month period since we rebranded and repositioned the group. We are in an excellent position to better meet the needs of our customers, we are embracing our ESG responsibilities and continue to focus on our three strategic pillars of Regulation, Regeneration and Renewables. Revenues have increased 64% year on year and are well diversified across our strategic pillars and service divisions. In addition, we have continued to reduce our net debt and we have reinstated our final dividend payment."
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Zytronic PLC - Newcastle-upon-Tyne-based touch sensors manufacturer - Improves to pretax profit in year to September 30 of GBP453,000 from GBP423,000 loss year before. Revenue slips to GBP11.7 million from GBP12.7 million but administration costs falls to GBP2.9 million from GBP3.3 million. Notes second half sales rose 44% versus first half in "encouraging" recovery. Looking ahead, Chair Tudor Davies says: "The first two months of the year have seen an improvement in order intake, and with the improved margins and levels of demand across most sectors, this provides the basis for good progress in the coming year."
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Carr's Group PLC - agriculture machinery distributor and engineering firm - Raises its dividend after upbeat annual results. For financial year that ended August 28, pretax profit jumps 10% to GBP12.1 million from GBP10.9 million last year on revenue rise of 5.5% to GBP417.3 million from GBP395.6 million. Carr's declares total dividend of 5.0p, up 5.3% from 4.75p. Chair Peter Page says: "The group has delivered an excellent result ahead of the board's original expectations, with increased profits across both Agriculture divisions and an enhanced order book for Engineering. In large part, this result stems from the unwavering commitment of all employees."
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SDI Group PLC - Cambridge-based medical technology firm - Pretax profit in six months to October 31 improves to GBP5.1 million from GBP2.4 million year before. Revenue surges to GBP24.7 million from GBP14.1 million. Chair Ken Ford says: "We are pleased to report yet another strong set of financial results. SDI Group continues to execute on its business model, investing in quality businesses that are able to grow while generating cash. We look forward to delivering a full year performance in line with market expectations."
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Seed Innovations Ltd - Guernsey-based wellness and life sciences firm - Sinks to net loss of GBP1.6 million in six months to September 30 versus GBP961,000 profit year before. Makes investment loss of GBP1.1 million in first half from GBP1.5 million gain year before. Chair Ian Burns says: "We have made two investments into new companies during the period under review, both of which align with our focus to invest in disruptive technologies, but with a focus on investing within the medical cannabis, health and wellness space. Alongside these new investments, we have continued to support our existing portfolio companies, and collectively expand and balance out the liquidity of our portfolio." Portfolio ends half with net asset value of GBP23.4 million from GBP24.9 million at end of March.
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Evgen Pharma PLC - Liverpool-based sulforaphane based medical drug developer - Pretax loss in six months to September 30 narrows to GBP1.5 million from GBP1.9 million year before. Does not generate revenue in first half versus GBP194,000 year before. Total operating expenses falls to GBP1.5 million from GBP2.0 million. Chief Executive Huw Jones says: "The last six months has yielded further positive preclinical data to support the potential of SFX-01 in a number of cancers and an Orphan Drug Designation in the US for malignant glioma. With the scale up and refinement of the SFX-01 production process and design of the Phase I and Phase II clinical trials running in parallel, we look forward to commencing further important clinical programmes in the first half of 2022."
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CareTech Holdings PLC - London-based social care services provider - Pretax profit in year to September 30 surges to GBP66.2 million from GBP37.8 million year before. Revenue grows 14% to GBP489.1 million from GBP430.0 million. Annual dividend rises to 14.1 pence from 12.75p. Chief Executive Farouq Sheikh says: "I am particularly pleased to report another strong set of results, which are slightly ahead of market expectations. This performance continues to validate our belief that we have a well-executed strategy, which meets a critical social care need and has demonstrated resilience in a challenging market environment. Our fundamentals are strong, and we remain committed to providing high quality care to those we look after."
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By Paul McGowan; paulmcgowan@alliancenews.com
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