TRADING UPDATES: Stagecoach welcomes new government cash for buses

Tue, 06th Jul 2021 18:00

(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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Stagecoach Group PLC - Welcomes the UK government's announcement of GBP226.5 million funding for buses from September 2021 to April 2022, to replace the Coronavirus Bus Service Support Grant. The new funding will provide a fixed subsidy based on key metrics. Expects the National Bus Strategy to come into force in April 2022.

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Sutton Harbour Group PLC - Plymouth-based harbour operator - Revenue falls 18% to GBP5.4 million in year ended March 31, from GBP6.6 million in previous year. Pretax loss widens to GBP2.4 million from GBP756,000. Occupancy and car parking revenue are recovering since lockdown lifted on April 12. Sutton Harbour plans to issue up to 14.0 million new shares costing 25 pence each, to raise GBP3.5 million. Money will be used to complete the Harbour Arch Quay development.

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Totally PLC - Derby-based provider of healthcare services to the NHS - Revenue increases 7.4% to GBP113.7 million in year ended March 31, from GBP105.9 million in previous year. Swings to pretax profit of GBP56,000 from a loss of GBP3.4 million. Declares final dividend per share 0.25p, bringing the full-year total to 0.5p. Demand for the NHS 111 service run by Totally "increased beyond all expectations, some of which continues," company says.

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Microsaic Systems PLC - Woking-based mass spectrometer maker - Revenue increases to GBP499,000 in first half of 2021, up from GBP72,000 year-on-year, company says in trading update. Performance attributed to the switch to a commercial strategy with external partners, from independent development. Sales growth is expected to continue in the second half.

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Ilika PLC - Hampshire-based battery developer - Revenue falls 18% to GBP2.3 million in year ended April 30, from GBP2.8 million in previous year. Pretax loss widens to GBP3.8 million from GBP3.3 million. Ilika has "an intensive period of operational implementation ahead," with plans to prepare for manufacturing requiring additional finance. This may come from government grants, a share issue or investment from strategic partners.

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RM PLC - Oxfordshire-based educational products provider - Revenue in the six months ended May 31 rises 21% year-on-year, to GBP96.1 million from GBP79.3 million. Pretax profit jumps to GBP6.4 million from GBP2.2 million. Earnings driven by strong sales of UK curriculum resources in the second quarter. Declares interim dividend of 1.7p per share.

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By Ivan Edwards; ivanedwards@alliancenews.com