(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Dekel Agri-Vision PLC - West Africa agricultural company - Records revenue of EUR31.2 million for 2022, down 17% from EUR37.4 million in 2021. Palm oil operation revenue is EUR30.5 million, while Cashew Operation revenue is about GBP700,000. Swings to pretax loss of EUR1.2 million from a profit of EUR916,000 a year earlier, as operating profit declines to EUR1.2 million from EUR2.6 million. Finance costs rise to EUR2.5 million from EUR1.7 million. Posts earnings before interest, tax, depreciation and amortisation of EUR4.6 million, down from EUR5.2 million in 2021. Executive Director Lincoln Moore says: "Achieving a strong Ebitda of EUR4.6 million from the palm oil operation despite operating in the lowest high season production period we have experienced was a credible outcome."
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ProBiotix Health PLC - Wakefield, England-based life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions - For period between November 4, 2021 and December 31 of last year, revenue amounted to GBP1.3 million. These are the firm's maiden annual results. The firm had its initial public offering on March 31 last year at an IPO price of 21 pence. Pretax loss is GBP203,000, as total administrative expenses amount to GBP1.0 million. Chief Executive Officer Steen Andersen says: "Although the markets are challenging, we have a strong balance sheet with no debt, good sales growth and a healthy cash reserve." Looking ahead, notes strong pipeline in 2023.
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Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer that produces batteries for the large-scale requirements of business networks - Posts revenue of GBP2.9 million for 2022, down 9.4% from GBP3.2 million in 2021. Cost of sales decreases to GBP2.3 million from GBP6.6 million a year earlier. Pretax loss narrows to GBP18.5 million from GBP21.4 million, as the firm books a gain of GBP448,000 on foreign currency, compared to a loss of GBP63,000 in 2021. Bottom line boosted by a fall in provision for onerous contracts to GBP554,000 from GBP3.8 million. Looking ahead, says its 2023 revenue backlog stands at GBP23.7 million as at May 31. "We're pleased with the progress we made in 2022 along Invinity's pathway to profitability. Achieving and exceeding our expectations for signing new deals was foundational for achieving the significant increase in revenue we expect in 2023," Chief Executive Officer Larry Zulch says.
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By Xindi Wei, Alliance News reporter
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Invinity Energy (IES)
Dekel Agri (DKL)