TRADING UPDATES: Strong trading from Shoe Zone, Fulham Shore

Wed, 31st Aug 2022 16:07

(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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Polarean Imaging PLC - London-based medical‑imaging technology - For the first half of 2022, pretax loss widens to USD6.9 million from USD4.9 million, due to rising costs from supporting the resubmission of a new drug application and the building of infrastructure to support launching products, more than offsetting a 34% increase in revenue to USD834,087 from USD621,874 from the sale of polariser systems to McMaster University in Ontario, Canada and Cincinnati Children's Medical Center.

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Shoe Zone PLC - Leicester, England-based footwear retailer - Since late July, trading exceeds expectations on strong demand for summer and back to school products in August. As a result, adjusted pretax profit for the year ending October 2 is set to be at least GBP10.5 million, up from GBP9.5 million the year before.

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Fulham Shore PLC - owner of the Franco Manca restaurant chain - Trading for the company's financial year to date, remains in line with management expectations, despite turmoil in the UK economy, as well as train and tube strikes. Over the year, opens nine Franco Mancas, and one The Real Greek, bringing its total restaurant estate to 90. Remains on-track to deliver 18 new restaurants in the current financial year ending March 2023.

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Flowtech Fluidpower PLC - supplier of technical fluid power products - For the six months ended June 30, pretax profit rises 35% to GBP3.1 million from GBP2.3 million the same period a year before, on revenue which grows 3.9% year-on-year to GBP57.5 million from GBP55.3 million, as the Flowtech business rose in strong pricing, while the Fluidpower businesses grew on a stronger hydraulics market. Looking ahead, company says its visibility for the Flowtech business behind the short term is limited, and as a result will focus on monitoring short term demand variations.

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Clarify Pharma PLC - London-based investor in psychedelics companies - For the six months ended May 31, pretax loss narrows to GBP297,169 from GBP472,748 the same period a year before, mainly due to lower administrative costs. Cash position stands at GBP1.2 million at the end of May, as the company continues to look for opportunities in the psychedelics market.

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GRC International Group PLC - Ely, England-based provider of products and services for IT governance, risk management and compliance - For the year ended March 31, pretax loss narrows to GBP1.0 million from GBP2.2 million, on revenue which grows 18% year-on-year to GBP13.9 million from GBP11.8 million, as billings rise 20% to GBP14.8 million from GBP12.3 million. Looking ahead, GRC notes strong momentum has continued into the first five months of its current financial year, as trading remains in line with expectations.

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Alba Mineral Resources PLC - mineral exploration company focused on northern Europe - For the six months ended May 31, pretax loss widens to GBP815,000 from GBP568,000 the same period a year prior, due to higher costs due to there being a second AIM-listed entity within the group during the period. Looking ahead, Alba says it is in a strong position to generate growth across its portfolio of assets.

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James Latham PLC - Hertfordshire-based distributor of timber, panels and decorative surfaces - For the fourth four months of its current financial year from April 1 to July 31, stands at GBP142 million. " This represents an increase in sales per working day of 15% compared with the same period last year," company adds. This is due to stable prices more than offsetting a slight drop in volumes. Although customers remain busy, James Latham notes signs of weakness in some sectors, including inflation, reduced consumer confidence and higher interest rates being reasons for dampening demand.

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Plaza Centers NV - property investor in India - For the first half of 2022, pretax loss narrows to EUR6.3 million from EUR8.9 million the same period a year before, as a result of lower costs across the board, and an increase in revenue to EUR146,000 from EUR125,000 year-on-year. Mainly, there is a drop in finance costs due to a foreign currency gain on bonds.

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By Dayo Laniyan; dayolaniyan@alliancenews.com