EARNINGS UPDATES: tinyBuild interim profit jumps despite challenges

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

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Instem PLC - Staffordshire, England-based life science software company - In the six months ended June 30, posts a pretax profit of GBP1.9 million, up 63% from GBP1.2 million the previous year. Revenue increases by 39% year-on-year to GBP27.6 million from GBP19.8 million, while recurring revenue jumped 62% to GBP16.0 million from GBP9.9 million. Instem explains this was the first reporting period with a full contribution from Edge Software Consultancy, d-Wise Technologies, and PDS Pathology Data Systems, which helped increase recurring revenue and visibility. Looking forward, the firm says the market backdrop remains "favourable". It expects to see continued "high" demand for its products.

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Mission Group PLC - Devon-based creative and marketing technology agency - In the first half of 2022, records a pretax profit of GBP1.5 million, up 8.7% from GBP1.4 million the previous year. Turnover jumps 17% to GBP81.2 million from GBP69.5 million. The firm says the performance was in line with expectations and achieved despite "considerable" macro-economic headwinds. Looking forward, Mission expects the majority of its profit to be generated in the second half of the year, as in previous years. Adds it is currently on track to deliver in line with its board expectations. Declares an interim dividend of 0.83 pence per share, up from 0.80p the previous year. Also, appoints Non-Executive Director Mark Lund as deputy chair.

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Panther Metals PLC - Canada-focused mineral exploration firm - Pretax loss widens to GBP174,632 in the six months ended June 30, from a loss of GBP88,465 the previous year. Posts no revenue, unchanged from a year prior. Net assets at June 30 total GBP2.6 million, up from GBP1.7 million at the same time in 2021. Chair Nicholas O'Reilly says the first half of 2022 was an "exciting time" for the firm and one of "very significant development". Adds the company is fully funded to continue to drive through its workstreams ahead.

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tinyBuild Inc - Washington, US-based indie games publisher - Reports interim results "slightly ahead of expectations". In the six months to June 30, posts a pretax profit of USD6.8 million, up sharply from USD689,000 the previous year. Revenue jumps 54% to USD28.8 million from USD18.6 million - reflecting a strong catalogue performance and a solid performance from its acquired businesses, the company adds. Chief Executive Alex Nichiporchik says: "If H1 2022 was a game, we would have been playing it on the "Very Difficult" setting. We faced unprecedented challenges, including the war in Ukraine, having to extract staff out of Russia, a sharp increase in the cost of living and supply chain issues. Still, against all odds, the team pulled through and won." Looking forward, the firm says it is confident that it is on track to deliver results "at least in line with expectations".

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NAHL Group PLC - Northamptonshire, England-based consumer legal services provider - In the six months ended June 30, posts a pretax profit of GBP50,000, down sharply from GBP581,000 the previous year but in line with expectations. Explains operating profit was lower due to planned investment in scaling the group's integrated law firm, NAL. Revenue, however, rises to GBP20.7 million from GBP19.5 million, with growth seen in both its divisions. Based on its first half performance, NAHL says it believes it can navigate the second half of the year and macroeconomic uncertainty to deliver a full-year outturn in line with expectations.

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By Heather Rydings; heatherrydings@alliancenews.com

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