(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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LMS Capital - London-based investment company - Net asset value per share on June 30 was down 4.3% at 55.2 pence from 57.7p on December 31. The company declares an interim dividend for the six months ended June 30 of 0.3 pence per share and final dividend payment of 0.625 pence per share for the year ended December 31, both unchanged year-on-year. Chair Robert Rayne says: "We remain focused on the prudent deployment of our capital and during the period, our team has been engaged in active negotiations in the retirement living space... Good progress is being made streamlining the cost base, but equipment failures leading to interruptions in production are continuing to delay progress with the business plan, although these are being worked through. We hope to report progress on all fronts in the second half of the year."
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Filtronic PLC - Sedgefield, England-based designer and manufacturer of products and sub-systems for the aerospace, defence, telecoms infrastructure, space, and critical communications markets - Revenue for financial year ended May 31 falls 4.7% to GBP16.3 million from GBP17.1 million the prior year. Pretax profit is GBP100,000, down from GBP1.9 million the prior year. Net cash falls 48% to GBP1.6 million from GBP3.1 million year-on-year. "We are encouraged by the increase in market activity and the rate of requests for quotations in important complex products demanding world class capability. Strengthening our business development and engineering teams has been critical to be able to respond quickly," says Chair Jonathan Neale.
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System1 Group PLC - Revenue in financial year ended March 31 falls 3.0% to GBP24.3 million, from GBP24.1 million the previous year. Pretax profit falls 23% to GBP700,000 from GBP900,000. Net cash at March 31 was GBP5.7 million, down 34% from GBP8.7 million the year before. System1 expects overall revenue growth in financial 2024. "The business delivered a strong second half year and created momentum that has carried through into [financial] 2024 with profitable growth across our platform offering. We are relentlessly executing the plan outlined in the strategic review with a go-to-market strategy aimed at winning with the world's largest businesses," says Chief Executive Officer James Gregory.
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NWF Group PLC - Nantwich, England-based agricultural feed, food and fuel distributor - Pretax profit increases 58% to GBP18.9 million from GBP12.0 million. Revenue rises 20% to GBP1.05 billion from GBP878.6 million the year before, which the company says is a set of "very strong results" despite "inflationary" challenges. Declares a total dividend per share of 7.8 pence, up 4.0% from 7.5p year-on-year. "I am pleased to report another year of significant progress for the group, exceeding the market expectations that were established at the start of the financial year. In a year with significant challenges from inflationary pressures and the cost-of-living crisis, it has been particularly positive to deliver strong performances from all three divisions," says Chair Philip Acton.
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Robert Walters PLC - London-based recruitment firm - Says revenue in first six months ended June 30 is up 2.0% to GBP548.3 million from GBP538.6 million. Pretax profit falls 70% to GBP8.1 million from GBP26.4 million. Net cash in the first half falls to GBP69.8 million, down 15% from GBP81.8 million year-on-year. Chief Executive Officer Toby Folwston says: "The reduced client and candidate confidence levels that the group first signalled during the second half of last year have yet to show sustained signs of improvement across many of the group's markets and specialist disciplines... In the face of current trading pressures, we intend to protect the group's strategic core, focus on consultant productivity and sensibly manage our cost base whilst continuing to prudently invest in attracting and developing our people and our global infrastructure for the long-term." Robert Walters declares an interim dividend of 6.5 pence per share, unchanged from the year before. The company says it is trading in line with board expectations.
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Sutton Harbour Group PLC - Plymouth, England-based harbour operator - Net asset value per share falls to 43.1 pence down 0.5% from 43.3p year-on-year. Sutton Harbour swings to a pretax loss of GBP2.0 million from a profit of GBP561,000 the year before. Revenue increases 12.5% to GBP8.1 million from GBP7.2 million the year prior. Net debt widens 20% to GBP29.3 million from GBP24.4 million. "The board is pleased with the successful delivery of new developments to meet objectives of sustaining and enhancing the attractiveness and amenity of the Sutton Harbour area and to create long term value growth from the assets. The investments made in the past year are proof that sustainable success is achievable with improvements to the Harbour environment for the benefit of visitors, workers and residents," says Executive Chair Philip Beinhaker
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By Will Neill, Alliance News reporter
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Sutton Harbour Holdings (SUH)
Robert Walters (RWA)
Nwf (NWF)
System1 Group (SYS1)
Filtronic (FTC)
Lms Capital (LMS)