TRADING UPDATES: Warehouse REIT buys Bradwell Abbey; Ixico wins deal

Thu, 21st Apr 2022 22:06

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

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Colefax Group PLC - London-based interior designer - Says trading in its two major markets the US and the UK has been ahead of expectations reflecting strong demand for home-related spending. In addition, says Decorating Division will deliver an exceptional performance this year due to the timing of completion of a major UK project. Fabric Division profitability is highly operationally geared.As a result of higher than expected sales, company now expects pretax profit for the year ended April 30, to be ahead of market expectations.

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Warehouse REIT PLC - real estate investment trust focused on industrial property - Is to acquire Bradwell Abbey Industrial Estate, for GBP62 million excluding acquisition costs. The purchase price reflects a net initial yield of 4% based on day one passing/guaranteed income. Says it continues Warehouse REIT's stated aim of acquiring assets in the Oxford-Cambridge Arc.

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Ixico PLC - London-based neuroscience data analytics company - Wins contract with new client to support its global prospective observational study to assess participants for the early detection of Huntington's Disease. Contract award is worth GBP800,000 with unnamed biotech company specialized in gene therapy across 2.5 years.

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Solid State PLC - Redditch, England-based electronics for industrial and military markets - Expects to report record results for financial year ended March 31, with revenue at around GBP85 million, up from GBP66.3 million the year before, and adjusted pretax profit of GBP7.2 million versus GBP5.4 million. Says it had "exceptionally" strong finish to year. "The record open order book and trading momentum underpin the near-term prospects and give the directors optimism for the future," the electronic components manufacturer says.

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ProCook Group PLC - Waterwells, Gloucester-based direct-to-consumer kitchenware retailer - Revenue for fourth quarter ended April 3 is GBP14.0 million, up 11% on a year before. For full-year, revenue of GBP69.2 million is up 30% on the year prior. However, full-year gross margin declines by 140 basis points to 67.2%. "Trading conditions have become more challenging over the last quarter with a number of well-documented pressures impacting consumer shopping habits and operational costs. Despite a tougher consumer and macro environment, we continue to attract new customers to the brand, are outperforming the market, and remain confident in our value-for-money, specialist offer," the specialist kitchenware brand says.

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Seeing Machines Ltd - Canberra, Australia-based AI technology company - Says it is collaborating with Canada-based mobility technology firm Magna International on a demonstrator that features a fully integrated driver monitoring system combining camera, electronics, and interior mirror technology. No financial details provided.

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Brickability Group PLC - Bridgend, Wales-based construction materials distributor - Says that due to ongoing positive momentum, it has seen a "very strong" fourth quarter. Expects to post revenue for the year ended March 31 of GBP520 million and adjusted earnings before interest, tax, depreciation, and amortisation of not less than GBP38 million, ahead of current market expectations. Adds that it remains confident that it is well placed to continue delivering on its strategic objectives and the underlying organic growth of the business.

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PensionBee Group PLC - London-based pension management app - Says it continues to trade in line with expectations. Further, PensionBee reiterates both the revenue guidance provided in the January trading update for financial 2022 of at least GBP20 million, and the medium-term outlook provided at the time of the IPO. For three months to March 31, revenue rises 70% to GBP4 million from first quarter last year. PensionBee completes share transfer to the Premium Segment of the London Stock Exchange, which it says indicates its commitment to strong corporate governance and future growth plans.

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DP Poland PLC - franchisor in Poland for Domino's Pizza - Says first quarter delivered strong sales growth against the previous three years, with trends accelerating towards the end of the quarter and continuing into second. For three months to March 31, like-for-like system sales up 21% year-on-year and total system sales rise 23%.

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Induction Healthcare Group PLC - health-focused technology firm - Says it has seen a "very strong" finish to trading for financial 2022 with growth in-line with market expectations. For year ended March 31, revenue and adjusted Ebitda are expected at GBP12 million and breakeven, respectively, compared to GBP1.5 million and GBP4.8 million loss last year.

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SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Spuds SD-12 East appraisal well in the in the South Disouq area, Egypt. Says SD-12 East spudded last week and is expected to reach total depth in three weeks. SD-12 East is the second of three wells to be drilled in the South Disouq area during 2022. The Mohsen well is planned to spud mid-to-late May, it adds.

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LSL Property Services PLC - Newcastle-based estate agency - Starts share buyback programme of up to GBP10 million.

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Capital Ltd - drilling and other mining services in Africa - For three months to March 31, revenue rises 52% to USD66.9 million from USD44.0 million in first quarter last year. Capital confirms annual revenue guidance of USD270 million to USD280 million, compared to USD226.9 million last year.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com