TRADING UPDATES: Topps Tiles and Vp post return to profit

(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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Topps Tiles PLC - Enderby, England-based tile retailer - For the year ended October 2, swings to pretax profit of GBP14.3 million, from a loss of GBP9.8 million, on revenue which increases 18% to record GBP228.0 million from GBP192.8 million, due to a strong home improvement market during the period. Retail like-for-like revenue growth is 20%, compared to 13% decline the prior year. Resumes dividend payout of 3.1 pence per share. Looking ahead, in first eight weeks of current year, retail like-for-like sales growth at 18%.

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Vp PLC - Harrogate-based equipment rental firm - For the six months ended September 30, swings to pretax profit of GBP18.6 million from a loss of GBP6.0 million, on revenue which increases 24% year-on-year to GBP176.1 million from GBP142.1 million, marking a strong recovery from a Covid-affected period through new infrastructure projects. Resumes interim dividend at 10.5 pence per share. Looking ahead, trading is in line with management expectations and remains positive for the full year.

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Cardiff Property PLC - Cardiff-based property investor - As at September 30, net asset value rises 4.7% to GBP25.49 per share from GBP24.35 the same date the year prior. Pretax profit however drops 32% to GBP1.3 million from GBP1.9 million. Declares final dividend of 13.5 pence per share, bringing the total payout to 18.5p, up 5.1% from 17.6p the year before.

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SkinBioTherapeutics PLC - Manchester-based life science company focused on skin health - For the year ended June 30, pretax loss narrows to GBP1.5 million from GBP1.6 million the year before, as research & development expenses dip to GBP505,627 from GBP635,226, due to reduced activity at the University of Manchester and focus on a consumer study for AxisBiotix-Ps.

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Gooch & Housego PLC - Ilminster, Somerset-based maker of optical components - For the year ended September 30, pretax profit drops 13% to GBP4.7 million from GBP5.4 million the year before, due to increased restructuring costs and amortisation charges. On an adjusted basis, pretax profit rises 29% to GBP12.6 million from GBP9.8 million. Revenue grows 1.6% year-on-year to GBP124.1 million from GBP122.1 million as all markets return to growth. Resumes dividend payout at 12.2 pence per share.

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System1 Group PLC - marketing and brand consultancy based in London - For the six months ended September 30, swings to pretax profit of GBP1.3 million from a loss of GBP401,000 a year before, on revenue which rises 22% year-on-year to GBP12.4 million from GBP10.1 million, with stronger sales from data products, and the success of new product Test Your Ad.

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Thor Explorations Ltd - Vancouver-based mineral explorer with assets in west Africa - For the three months ended September 30, swings to pretax profit of CAD580,532 from a loss of CAD1.4 million, due to a fall in administrative expenses from salaries and benefits. During the period, first gold was poured at Segilola gold mine in Nigeria, and post period commercial production was achieved at October.

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Treatt PLC - food ingredients manufacturer based in Suffolk - For the year ended September 30, pretax profit rises 43% to GBP19.6 million from GBP13.7 million the prior year, on revenue which increases 14% year-on-year to GBP124.3 million from GBP109.0 million, driven by growth from the Tea business on new business wins, and Health & Wellness on higher demand. Declares final dividend of 5.50 pence per share, bringing total payout to 7.50p, a 25% increase.

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Town Centre Securities PLC - car park operator and property investor in Leeds, Manchester, Scotland, and London - As at June 30, net asset value per share remains flat at 292 pence. For the annual period, pretax loss narrows to GBP576,000 from GBP24.1 million, on a gain on the valuation of investment properties at GBP63,000 compared to a loss of GBP26.0 million. Total portfolio as at September 30 declines to GBP329.2 million from GBP372.5 million. Declares final dividend of 1.75 pence per share, bringing total payout to 3.5p, down from 11.75p.

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Aberdeen Standard Asia Focus PLC - investment trust that aims to identify market leading businesses in Asia - For the year ended July 31, net asset value total return is 42%, compared to the MSCI AC Asia Pacific ex Japan Index, which returned 14%. As at July 31, net asset value per share increases 41% year-on-year to 1,554.52 pence from 1,106.45p the same date the year before.

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Hornby PLC - Margate-based manufacturer of model and hobby products - For the six months ended September 30, swings to pretax loss of GBP745,000 from a profit of GBP345,000 a year prior, due to an increase in overheads, and a shortage in the supply of containers and drivers. This is in spite of revenue growth by 3.3% year-on-year to GBP21.8 million from GBP21.1 million. Looking ahead, says its "hard to tell" how its annual results will turn out ahead of its key Christmas trading period.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

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