EARNINGS SUMMARY: CPPGroup swings to interim profit despite headwinds

Mon, 26th Sep 2022 14:42

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

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Frenkel Topping Group PLC - Manchester-based professional and financial services firm focused on asset protection - Posts pretax profit of GBP1.29 million in the six months to June 30, down slightly by 0.3% from GBP1.33 million a year ago, as administrative expenses increase by 17% to GBP3.5 million from GBP3.0 million a year ago. Staff costs rise by 53% to GBP6.1 million from GBP4.0 million. Revenue, however, grows by 31% to GBP11.1 million from GBP8.5 million. Declares an interim dividend of 0.34 pence per share, unchanged from a year prior. Looking ahead, Frenkel says the second half of the year has begun positively, and that the full-year is trading in line with expectations.

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CPPGroup PLC - Leeds-based company, which provides products and services for financial services customers - Swings to a pretax profit of GBP1.3 million in the six months to June 30, from a loss of GBP489,000 a year ago, as revenue rises by 18% to GBP77.8 million from GBP65.7 million. Says core revenue increases by 26% to GBP69.5 million from GBP55.0 million a year ago. "Despite global economic headwinds, the group has, from a trading perspective, delivered robust revenue growth, particularly from its Indian and Turkish operations," Chief Executive Officer Simon Pyper says.

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Sancus Lending Group Ltd - Guernsey-based alternative property finance - Posts a revenue of GBP4.8 million in the six months to June, down by 0.4% from GBP5.0 million a year ago due to "modest progress on loan deployment", the firm says. Pretax loss, however, narrows to GBP2.0 million from GBP4.2 million. Looking ahead, Sancus says it continues to be enthusiastic about the opportunities that lie ahead, and looks forward to delivering profitability.

By Xindi Wei; xindiwei@alliancenews.com