EARNINGS AND TRADING: Unigel profit jumps; Nexus loss widens

Thu, 15th May 2025 14:31

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

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Unigel Group PLC - Eastbourne, England-based manufacturer and distributor of steel tape and thixotropic gels under the Unitape and Unigel brands - Pretax profit is GBP2.1 million in 2024, multiplying from GBP815,497 the year before, as turnover edges up to GBP29.2 million from GBP28.5 million. Gross profit margin improves to 20% from 14%. The company highlights strong performance in its steel tapes business, with profit up 213% on 12% revenue growth. It says localisation of production in 2024 should help shield it from US tariffs going forward. Unigel sees "substantial opportunities" to grow organically and through acquisitions.

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Nexus Infrastructure PLC - Braintree, England-based provider of civil engineering and infrastructure services to the UK housebuilding sector - Reports revenue of GBP30.6 million for the six months that ended March 31, up from GBP25.8 million a year prior. However, pretax loss widened to GBP1.9 million from GBP1.5 million, reflecting higher administrative and integration costs, including GBP502,000 in exceptional items versus none a year prior. Revenue from its Tamdown unit rises despite housing sector headwinds, while new acquisition Coleman Construction & Utilities contributes GBP2.8 million. Order book at Tamdown rises to GBP80.8 million. An interim dividend of 1.0p is declared.

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Ferrexpo PLC - Baar, Switzerland-headquartered iron ore pellets producer in Ukraine - A Ukrainian court has accepted an application to open bankruptcy proceedings against Ferrexpo subsidiary Ferrexpo Poltava Mining. The application is filed by Maxi Capital over a disputed UAH4.7 billion, about GBP85 million, sureties claim linked to the defunct Bank Finance & Credit. Ferrexpo notes that no formal bankruptcy proceedings have commenced and a preparatory hearing is scheduled for May 27. The matter is still under review by Ukraine's Supreme Court, which has suspended enforcement of the claim. Ferrexpo maintains the claim is without merit and continues to defend its position.

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Regional REIT Ltd - London-based real estate investment trust - Declares first-quarter dividend of 2.50 pence per share, more than double the 1.20p paid a year prior. Rent roll falls 5.6% in the three months to March 31 to GBP57.3 million from GBP60.7 million, though EPRA occupancy improves to around 79% from 78%. The company says it continues to address growing demand for quality regional office space and remains focused on value-creating asset management and disposals. First-quarter rent collection stands at 97%.

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John Wood Group PLC - Aberdeen, Scotland-based oilfield and engineering services provider - Agrees to extend the deadline for Dar Al-Handasah Consultants Shair & Partners Holdings Ltd, known as Sidara, to make a firm takeover offer to June 12. The extension allows more time to engage with lenders, noteholders, and auditors over pre-conditions, including debt modifications and liquidity arrangements. Sidara's possible cash offer of 35 pence per share was first announced on April 14. Wood says it remains minded to recommend the offer, subject to agreement of full terms.

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Atalaya Mining Copper SA - copper producer in Spain - Receives the unified environmental authorisation from the Junta de Andalucia for its San Dionisio deposit at the Riotinto project. The approval enables expansion of mining activities and supports the company's strategy to increase copper output by incorporating higher-grade material from across the Riotinto district. Chief Executive Officer Alberto Lavandeira calls the approval a "key milestone" for the project's development.

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Funding Circle Holdings PLC - London-based lending platform focused on small and medium enterprises - Completes GBP25 million share buyback programme on Wednesday, having repurchased 21.0 million shares or 6.7% of its share capital. Launches a new buyback of up to GBP25 million, managed by Investec PLC and Ltd.

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By Eva Castanedo, Alliance News reporter

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