(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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Hotel Chocolat Group PLC - Royston, Hertfordshire-based chocolatier - For the 26 weeks ended December 26, pretax profit rises 56% to GBP24.1 million from GBP15.5 million, while underlying Ebitda increases 35% to GBP33.8 million from GBP24.9 million. Revenue grows 40% year-on-year to GBP142.9 million from GBP101.9 million, driven by multi-channel growth in the UK, US and Japan, and an increased customer base. Declares no interim dividend, in line with year prior. Looking ahead, trading remains in line with management expectations post-period.
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Foxtons Group PLC - London-based estate agent - For 2021, swings to pretax profit of GBP5.6 million from GBP1.4 million loss in 2020, and GBP8.8 million loss in 2019. Revenue grows 35% year-on-year to GBP126.5 million from GBP93.5 million, and is also 18% higher from GBP106.9 million in 2019. Revenue surge is driven by improved market conditions, and a contribution from acquisitions including Douglas & Gordon. Declares final dividend per share at 0.27 pence, bringing total payout to 0.45p, versus nil the prior year.
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Nichols PLC - Merseyside-based soft drinks maker and owner of Vimto brand - For 2021, swings to pretax loss of GBP17.7 million from profit of GBP6.5 million, mainly due to an exceptional charge of GBP39.5 million, consisting mostly of a GBP36.2 million non-cash impairment of the Out-of-Home business on ongoing challenges. On an adjusted basis, pretax profit rises 88% to GBP21.8 million from GBP11.6 million, on revenue which grows 22% year-on-year to GBP144.3 million from GBP118.7 million, due to a strong recovery from Stills and Carbonates, particularly the Vimto brand. Declares final dividend of 13.3 pence per share, bringing the total payout to 23.1p, down 37% from 36.8p. Looking ahead, has started a strategic review into Out-of-Home, but continues to expect high single digit growth in adjusted pretax profit in 2023. For 2022, expects adjusted pretax profit to meet market expectations of GBP25.5 million.
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Norman Broadbent PLC - London-based recruitment firm - For 2021, net fee income declines 5% year-on-year to GBP5.9 million from GBP6.2 million the year before. However, with an increased gross margin and reduced overhead costs, the company expects earnings before interest, tax, depreciation and amortisation to breakeven for the year.
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IGas Energy PLC - London-based oil and gas company - Net production for 2021 averages 1,962 barrels of oil equivalent per day, in line with guidance, with underlying operating costs being USD37 per barrel. Looking ahead, expects net production for 2022 to be around 2,000 boepd and operating costs at USD38 per boe.
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GYG PLC - Mallorca, Spain-based super-yacht painting, service and supply company - For 2021, expects revenue to rise 6.6% year-on-year to EUR62.8 million from EUR58.9 million, due to robust performance and industry growth. However, due to challenges including the Nobiskrug shipyard filing for insolvency leading to some project cancellations, company expects to report a modest positive adjusted Ebitda for the year. Total order book as at February stands at EUR55.4 million, up 3% from EUR53.8 million on January 2021.
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Stagecoach PLC - Perth, Scotland-based transport operator - On-track to achieve management expectations for the year ending April 30, with both the regional and London bus firms performing in line with expectations. For the first half of February, overall journeys for regional business range between 70% and 78% of pre-Covid-19 levels on a rolling seven-day average. Looking ahead, expects further recovery in demand for services.
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Vertu Motors PLC - Gateshead, England-based car dealership - For the year ended February 28, expects adjusted pretax profit to be at least GBP75 million, a solid hike from GBP24.6 million the year before. For the five months ended January 31, group revenue increases 18% year-on-year, and 9.4% on a like-for-like basis. Looking ahead, company does not expect the extraordinary trading conditions seen in the recently ended financial year to continue into the current one.
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musicMagpie PLC - Manchester-based used-technology reseller - For the year ended November 30, swings to pretax loss of GBP14.8 million from profit of GBP7.0 million, as revenue declines 5.1% year-on-year to GBP145.5 million from GBP153.3 million following a prior year which was boosted by the pandemic. Revenue however was 11% above the 2019 financial year's figure of GBP131.5 million. Looking ahead, with a strong end to the company's financial year, volumes and activity levels are moderating in-line with consumer trends in the first quarter of the current financial year. "Consumer tech revenues for the first quarter of the year have been in line with management expectations, but a trend towards lower sales volume at a higher average selling price and an increase in the proportion of products sourced from intermediary wholesale partners, is currently expected to compress the gross margin on outright sales in the category in the current year by 4.0 percentage points compared to FY21."
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Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - For 2021, pretax loss narrows to EUR21 million from EUR166 million the year before, as net interest income drops 8% year-on-year to EUR313 million due to lower income following deleveraging transactions in the fourth quarter of 2020. Net interest margin lowered to 1.5% from 1.7%, while total new lending rose 44% to EUR2.05 billion, driven by a strong increase in mortgage lending.
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Honeycomb Investment Trust PLC - asset secured loans investor - As at December 31, net asset value per share rises to 1,019.1 pence from 1,013.1p the same date a year prior, while net assets rise to GBP359.3 million from GBP357.2 million. Declares dividend of 80.0p per share, in line with year before. May consider reactivating its share buyback programme should its current share price persists.
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JPMorgan Emerging Markets Investment Trust PLC - invests in emerging market companies, seeking out sustainable long-term returns - Net asset value per share as at December 31 is up 1.0% at 136.4 pence from 135.0p the same date a year before. Total return on net assets for the six month period falls 4.1% compared to the MSCI Emerging Markets Index, which fell 7.5%.
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Tlou Energy Ltd - power company focused on sub-Saharan Africa - For the six months ended December 31, pretax loss widens to USD1.3 million from USD1.1 million on higher costs and a drop in interest income to USD9 from USD399, as well as a lack of other income. During the period, Tlou signed a power purchase agreement with BPC and has secured funds to start development on its 10 megawatts power project in Lesedi, Botswana.
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Supermarket Income REIT PLC - real estate investment trust dedicated to investing in supermarket property - For the six months ended December 31, pretax profit more than doubles to GBP68.9 million from GBP33.0 million a year before, while annualised passing rent rises 52% to GBP70.2 million from GBP46.1 million. As at December 31, net asset value per share rises to 113 pence from 104p a year prior, on a direct portfolio value of GBP1.41 billion, reflecting 2% like-for-like growth. Declares interim dividend of 3.0 pence per share, up 3% from 2.9p. Looking ahead, expects annual payout to be 5.94p.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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Foxtons (FOXT)
Norman Broadb (NBB)
Vertu (VTU)
Musicmagpie (MMAG)
JPMorgan Emerging Markets Investment Trust (JMG)
Tlou Energy (TLOU)
Nichols plc (NICL)
Supermarket Income (SUPR)