Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Quartix Technologies PLC - Newton, Wales-based vehicle tracking system provider - Revenue in first half ended June 30 up 10% to GBP14.6 million, from GBP13.3 million the year before. Pretax profit falls 7.0% to GBP2.4 million, from GBP2.6 million year-on-year. Quartix declares an interim dividend of 1.50 pence per share, unchanged from the year before. Chief Executive Officer Richard Lilwall says: "The first half of 2023 saw an increase in Quartix's subscription base globally, leading to a GBP2.1 million growth in annualised recurring revenues to GBP28.0 million. This promising growth occurred despite increased liquidations and customers downsizing their fleets causing slightly higher attrition, highlighting the resilience of our business model."
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MaxRets Venture PLC - London-based, cannabis sector-focused investment firm formerly known as Greencare Capital PLC - Posts pretax loss narrows 53% to GBP122,000 in its first half, from GBP258,000 the year before. MaxRets says total assets falls 40% to GBP545,000, down from GBP914,000 the year before. Chair Dominic White says: The technology-led investment sector has been revalued down in the last 12 months, given significant changes in overall market conditions and a reduction in availability of capital. The directors are of the opinion that, following a fall in business values, there are now exciting investment opportunities in those market sectors which the company is focused upon."
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AFC Energy - Surrey, England-based provider of hydrogen-powered generator technologies - Says revenue in first half ended April 30 falls 33% to GBP200,000 from GBP300,000 the year before. Pretax loss narrows to GBP6.3 million, down 19% from GBP7.8 million the year before. "Clearly our focus must remain on delivery of our strategy of initial customer deployments followed by cementing long term collaborations with plant hire groups and, with our new partner Speedy Hire in the UK, we now have a line of site to tangible product sales and manufacturing scale up," says Chief Executive Adam Bond.
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Induction Healthcare Group PLC - London-based software for healthcare providers and administrators - Pretax loss for year ended March 31 widens to GBP17.4 million, from GBP9.1 million the year before. Revenue up 12.1% to GBP13.6 million, from GBP12.1 million year-on-year. Net cash on March 31 was GBP4.3 million, a 43% fall from GBP7.5 million the year prior. Chief Executive Officer Paul Tambeau says: "We are pleased to report an overall revenue growth rate of over 12% despite market headwinds and at the same time as we completed on significantly rightsizing our cost base. The business is now firmly on a sustainable footing and this, together with our fast-growing patient management platform which grew significantly, indicates that we are well positioned for the coming year."
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National World PLC - Leeds-based multimedia company - Reports pretax profit fall of 35% in its first half ended July at GBP3.2 million, from GBP5.6 million the year before. Revenue falls 4.4% to GBP41.6 million, from GBP43.5 million. Earnings before interest tax, depreciation and amortization falls 46% to GBP3.2 million from GBP5.9 million the year before. Chair David Montgomery says: "The company has successfully commenced the journey to revenue growth in the first half. Measures to deliver a sustainable multi-platform business continued apace despite the downturn in the advertising market. Five acquisitions in the period and improvements in newly launched online brands are replacing lost revenue from heritage assets and we now expect overall revenues for 2023 to exceed last year."
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By Will Neill, Alliance News reporter
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National World. (NWOR)
Induction Heal. (INHC)
AFC Energy (AFC)
Quartix Tech (QTX)