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(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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Braemar PLC - London-based shipbroker and shipping investment advisor - In year to February 29 says revenue was little changed at GBP152.8 million compared with GBP152.9 million a year prior. But pretax profit falls 21% to GBP7.5 million from GBP9.5 million. Total dividend rises to 13.0 pence from 12.0p. Says financial 2025 has started well with market conditions remaining positive. Highlights strong order book of USD82.6 million at year-end, up from USD56.2 million a year prior. "With the group's strategy delivering and a clear focus on future growth, the board looks to the future with confidence," company says.
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Bloomsbury Publishing PLC - London-base publishing house - In the year ending February, says pretax profit jumps 63% to GBP41.5 million from GBP25.4 million a year prior, as revenue jumps 30% to GBP342.7 million from GBP264.1 million. Total dividend rises to 14.69 pence from 11.75p. Describes it as an "outstanding year". "This dramatic increase arises from our entrepreneurial diversification strategy which has forged a portfolio of portfolios combining consumer and academic publishing across formats, territories and subject areas, a resilient model delivering long-term success," company says. Expects trading for financial 2025 to be slightly ahead of current consensus expectations. Further, says Richard Lambert intends to retire as chair and step down as director with effect from the conclusion of the annual general meeting on July 16. John Bason, current independent non-executive director, will succeed him as chair.
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Cohort PLC - Reading, England-based medical products and technology company - Provides trading update for financial year ended April. Says trading performance is slightly ahead of expectations, with growth in revenue and profit compared to the year prior. Highlights strong net funds of around GBP23 million, ahead of expectations, and up from GBP15.6 million a year prior. Notes very strong order intake of around GBP387 million up from GBP218 million a year prior with record closing order book of around GBP518 million up from GBP329.1 million. Explains order book underpins around GBP180 million, 90%, of current market revenue expectations. "Overall, our expectations for the coming financial year remain unchanged," company says.
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Real Estate Investors PLC - Birmingham-based investment trust with a portfolio of commercial property - Gives update ahead of Thursday's annual general meeting. Completes sales since the year-end at prices at or better than year-end book values, totalling GBP5.4 million. Says sale proceeds combined with existing cash has been used to reduce the debt by a further GBP3 million, taking the total debt repaid since the year-end to GBP5.7 million.
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Henry Boot PLC - Sheffield-based property development business - Issues trading update ahead of Thursday's annual general meeting. Chief Executive Officer Tim Roberts comments: "We have begun the year well, trading in line with market expectations and continuing to crystalise profits from both land sales and delivering prime development and premium homes. We have started to see signs that the economy has turned a corner, with inflation falling and interest rates likely to fall, which has improved sentiment in our three key markets. Whilst we expect our performance to be heavily weighted to H2 24, as flagged at our results in March, our focus on high quality land and development in prime locations, along with a renewed banking facility, leaves the group in a position to deliver full year performance as expected." Further, agrees sale two acre development site at The Chocolate Works in York to McCarthy Stone.
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Sabre Insurance Group PLC - England-based private motor insurance underwriter - Provides update on trading for four months ending April. Total gross written premiums rise to GBP85.7 million from GBP58.9 million a year prior. Motor vehicle GWPs rise to GBP77.1 million from GBP47.9 million. Says claims inflation for 2024 anticipated to remain at around 10%, as previously guided. Notes evidence of some slowing of pricing increases during the first quarter across the core Motor Vehicle market. Continues to anticipate further growth in the core motor account with overall growth in GWP above claims inflation across 2024. Says loss ratios should improve further as profitable business written in 2023 earns through, leading to a strong increase in profit in 2024.
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Galliford Try Holdings PLC - Uxbridge, England-based building and infrastructure construction company- Provides update ahead of capital markets event on Thursday. Sets out new targets. By 2030, aims for increase in divisional operating margin to 4.0% through a focus on both top and bottom line growth and accelerated growth in our higher-margin adjacent market businesses. Targets revenue growing to in excess of GBP2.2 billion, maintaining disciplined contract selection and robust risk management in resilient market sectors. Sees sustainable dividends with an earnings cover of 1.8x. Confident of delivering sustainable, profitable growth to 2030.
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Aptamer Group PLC - York, England-based biotechnology firm - Announces further agreements for Optimer development with a combined value of up to GBP275,000 including three of the top ten global pharmaceutical companies. Upon development success, several of the partnerships include the potential for additional follow-on fee-for-service development work and potential licencing. "With the sales pipeline expanding and converting, we are beginning to see our strategy to build lower-risk fee-for-service revenues bear fruit," company says.
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Corre Energy BV - Groningen, Netherlands-based renewable energy storage and green hydrogen company. Plans to raise EUR2 million via subscription agreements at EUR0.46 per share. The investment will support the working capital of the company as it moves through the next stage in its strategic investment process, Corre says. To offset dilution, also plans to announce a placing to all shareholders on the same terms in coming days. This would further enhance the net cash position.
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By Jeremy Cutler, Alliance News reporter
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