TRADING UPDATES: Science Group swings to profit, eEnergy revenue grows

Tue, 09th Mar 2021 17:07

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

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Science Group PLC - Cambridge-based scientific consultancy services firm - For 2020, swings to pretax profit of GBP6.4 million from loss of GBP1.6 million, on revenue that grew 29% year-on-year to record levels of GBP73.7 million from GBP57.2 million, driven by a full year contribution from Frontier Smart Technologies. Declares dividend of 4.0 pence per share. Remains optimistic on its continued progress in 2021, following a good start in spite of economic uncertainty.

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eEnergy Group PLC - energy efficiency services provider based in London - For the six months ended December 31, pretax loss narrows to GBP888,000 from GBP1.1 million the year before, as operating expenses more than doubled to GBP3.2 million from GBP1.5 million, including one-off reverse acquisition costs, while revenue more than tripled to GBP6.8 million from GBP2.0 million. Organic revenue more than doubled to GBP4.0 million. For the year ending June 30, expects to achieve a breakeven net income before exceptional items, with revenue and profit set to be in line with management expectations.

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Orchard Funding Group PLC - Luton-based finance company - For the six months ended January 31, pretax profit down 39% at GBP610,000 from GBP1.0 million, on revenue that declined 19% year-on-year to GBP2.3 million from GBP2.9 million. As at January 31, loan book drops to GBP27.9 million from GBP34.0 million the same date the year before, and lending volumes fell 21% to GBP30.0 million from GBP37.9 million.

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Greatland Gold PLC - precious and base metals exploration and development in Western Australia and Tasmania - For the six months ended December 31, pretax loss widens slightly to GBP2.7 million from GBP2.6 million the year before, on no revenue generated for the current period. During the period, the Haveieron project delivered an initial inferred mineral resources estimate of 52 million tonnes for 3.4 million ounces in gold, 160,000 tonnes of copper and 4.2 million gold equivalent.

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Headlam Group PLC - floor covering firm - For 2020, swings to statutory pretax loss of GBP17.1 million from profit of GBP35.2 million, due to most of its UK operations being closed as a result from late March to the end of June. In addition, there were goodwill impairment charges, mainly in relation to Domus, which suffered considerably from delays and cancellations to projects. In addition, revenue declined 15% year-on-year to GBP609.2 million from GBP719.2 million, following a much weaker first half and a second half recovery. Looking ahead, trading in first two months were soft as non-essential retail businesses remaining closed under lockdown. Plans to resume dividend payments in 2021.

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Brand Architekts Group PLC - Teddington, south west London-based personal care and beauty products - For the six months ended December 31, pretax profit rises to GBP435,000 from GBP302,000 for the 28 weeks ended January 11, 2020. Revenue for the period declined 15% year-on-year to GBP9.0 million from GBP10.6 million, as Covid-19 affected high street sales and consumer footfall. Declared no total dividend per share, down from 0.9 pence the prior year.

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Angus Energy PLC - UK-focused onshore oil and gas development company - For 2020, pretax loss narrows to GBP2.5 million from GBP5.0 million the year before, on smaller impairment charges and administrative costs, and in spite of a drop in revenue to GBP68,000 from GBP200,000. Looking ahead, Angus is planning for an extended well test at Balcombe and intends to resume production at Brockham and Lidsley.

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Gresham Technologies PLC - London-based software and services company - For 2020, pretax profit edges up at GBP308,000 from GBP303,000, while adjusted earnings before interest, tax, depreciation and amortisation rose 10% to GBP4.5 million from GBP4.1 million, due to a slight drop in administrative expenses. However, revenue dipped 1% year-on-year to GBP24.8 million from GBP25.0 million. Declares final dividend of 0.75 pence per share, in line with year before.

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Abingdon Health PLC - developer and manufacturer of rapid tests - For the six months ended December 31, pretax loss widens further to GBP1.6 million from GBP775,000 the year before, due to a sharp rise on the cost of sales and more than doubled administrative expenses. This was in spite of revenue rising significantly to GBP7.7 million from GBP1.6 million, driven mainly by its contract with the UK Department of Health & Social Care for the supply of AbC-19 Covid-19 rapid test. Looking ahead, the tier one order pipeline for the test continue to grow, giving confidence of Abingdon's performing in line with market expectations for the current financial year.

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By Dayo Laniyan; dayolaniyan@alliancenews.com