(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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Inspiration Healthcare Group PLC - Crawley, England-based medical technology company - Expects revenue in the year to be significantly more weighted to the second half. Current order book "very healthy" and adds the company is working hard to overcome the obstacles caused by current economic uncertainties. Remains confident in the year as a whole. "We are well placed to overcome this turbulent period and achieve continued revenue and underlying earnings growth," says Chair Mark Abrahams at company's annual general meeting on Thursday.
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Microsaic Systems PLC - Surrey-based mass spectrometry equipment company - Reports an uplift of 40% in revenue following the launch of the Microsaic Services division earlier this year. First half revenue at GBP701,000, up from GBP499,000 the previous year. Notes a healthy order book for the second half, described as the "strongest ever" by acting Chair Gerry Brandon.
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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Reports trading in the five months to May 31 is "well ahead" of the same period the previous year. Revenue in the core Location Based Entertainment business is GBP3.4 million, more than double the BP1.5 million achieved a year prior. In June, company reports strong trading with the second half benefiting from US school holidays. 40 seat installation at Milwaukee County Zoo expected to open in the coming days. Immotion continues to spin-off the Home Based Entertainment business and Uvisan, its UV cleaning business.
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Likewise Group PLC - Solihull, England-based floor coverings distributor - Anticipates revenue in the six months to June 30 to more than double to GBP57.8 million. Cites its "clearly defined strategy of investment" for the rise. Notes 27% sales increase for its Likewise Trade Brand in the period. Valley Wholesale Carpets trading in line with expectations. Adds construction is underway in Glasgow for a new 1.9 million cubic feet distribution centre. The centre aims to be operational in the first quarter of 2023.
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SulNOx Group PLC - London-based supplier of fuel conditioners - Revenue in the first quarter of financial 2022 already at a similar level to the revenue achieved in the year ended March 31. Direct and distributor sales are gathering momentum, SulNOx adds. The number of distributors and introducers rises to 56 in first quarter.
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Crimson Tide PLC - Kent, England-based mobile software firm - Reports good start to the year for monthly recurring revenue additions for its mpro5 product. Says pipeline has "never been stronger" and includes first time opportunities in the US. New version of mpro5 for the trades market is on schedule for launch in the first week of September.
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Camellia PLC - Kent-based agriculture and engineering services firm - Notes lower tea production in India and Bangladesh as a result of heavy monsoons, though prices in India have improved against the previous year. Also sees higher average prices in Kenya, though this is partially offset by lower crop volume. In Malawi, tea volumes are in line with historic averages. Macadamia volumes expected to be higher as harvesting continues. Avocado harvesting also continues, with early indications of higher volumes. Begins cherry harvesting in England, but inflation is impacting profitability. Other agricultural businesses trading well. Sales to take place in the second half of the year. If current trading conditions continue, company expects overall adjusted pretax profit to be lower than market expectations.
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Surface Transforms PLC - Liverpool-based manufacturer of carbon fibre reinforced ceramic materials - Commences series production for customer OEM 8 in addition to continuing deliveries to all its other significant customers. Restates full-year guidance. Chief Executive Kevin Johnson says: "The company continues its journey to profitability in 2022 and remains confident that this goal will be achieved."
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Catenae Innovation PLC - Newcastle-based digital media and technology company - Reports a loss of GBP273,069 in the six months to March 31. Figure narrows from GBP586,798 the previous year. Continues to defend made by minority shareholders of Hyperneph Software Ltd in relation to the acquisition of Hyperneph. Submits counterclaim for GBP290,000. Hperneph is a 51% owned subsidiary.
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By Heather Rydings; heatherrydings@alliancenews.com
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Inspiration Hlt (IHC)
Microsaic (MSYS)
Likewise Grp (LIKE)
Crimson Tide (TIDE)
Camellia (CAM)
Surface Transforms (SCE)