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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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Johnson Service Group PLC - Cheshire-based textile rental - For the first half of 2022, swings to pretax profit of GBP5.1 million from loss of GBP13.9 million the same period a year before, on revenue which grows 77% year-on-year to GBP176.2 million from GBP99.6 million. Revenue growth is fostered by a recovery from the HORECA business as hospitality returns to more normal levels, in addition to a resilient performance from Workwear. Adjusted earnings before interest, tax, depreciation and amortisation more than doubles to GBP42.8 million from GBP16.9 million. Reinstates dividend policy with interim payout of 0.8p per share.
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Eurocell PLC - Derbyshire-based window, door and roofline PVC products firm - For the six months ended June 30, pretax profit rises 7% to GBP15.2 million from GBP14.2 million a year prior, on revenue which grows 13% year-on-year to GBP190.5 million from GBP168.1 million, as a result of an 11% rise in sales volumes and strong pricing. Interim dividend rises 9% to 3.5 pence per share to 3.2p a year before. Looking ahead, notes moderating demand from the RMI market from high levels seen in 2021. However, company continues to trade in line with expectations.
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Starcrest Education Ltd - developer and operator of education services in Europe - For the six months ended June 30, pretax loss narrows to GBP212,831 from GBP415,827 the same period a year prior, as a result of lower costs. Looking ahead, company is continuing to progress its acquisition of Fairview IB World Schools alongside Fairview International School UK Ltd, following an advance of up to GBP1 million, of which Starcrest has drawn GBP200,000 so far.
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Zaim Credit Systems PLC - Russian-focused fintech company - For the second quarter of 2022, total loans issued increase 47% year-on-year to GBP9.3 million from GBP6.3 million, as a result of the strengthening of the Russian rouble compared to pound sterling. Looking ahead, Zaim has limited the amount of loans issued online after Russian authorities announced a half-year moratorium on the collection of debt incurred before April 1, reducing cash collection by operating during the quarter.
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Gem Diamonds Ltd - London-based diamond producer with diamond mining operations in Lesotho and Botswana - For the first half of 2022, pretax profit halves to USD14.4 million from USD28.3 million the same period a year prior, as revenue declines 4% to USD100.0 million from USD104.4 million, as average diamond prices drop to USD1,745 per carat from USD1,886. The drop in profit is also due to a sharp rise in operating costs, including explosive consumables and diesel prices. Ore mined rises 1% to 3.22 million tonnes, however carats recovered decline 6% to 55,157 carats from 58,831 carats.
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Symphony International Holdings Ltd - Asia Pacific-focused investor - As at June 30, net asset value rises 13% to USD0.94 per share from USD0.83 the same date a year before, but down 1.2% from USD0.95 as at the end of December. "The change in NAV from 31 December 2021 to 30 June 2022 is due to a decrease in the value of unlisted investments, predominantly due to a depreciation in Asian currencies relative to the US dollar and weaker market valuation parameters used in the valuation of investments, which was partially offset by an increase in the share price of Minor International Public Co Ltd," company says.
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Wentworth Resources PLC - Tanzania-focused natural gas production company - For the six months ended June 30, pretax profit more than doubles to USD5.6 million from USD2.7 million the same period a year before, on revenue which grows 32% year-on-year to USD15.5 million from USD11.7 million, as a result of high levels of production at Mnazi Bay and higher gas prices. For the period, average daily production rose 15% to 92.3 million standard cubic feet per day, reflecting a record performance. Looking ahead, expects average daily output to at or above the high end of production guidance, driven by strong demand in power in Tanzania. Declares interim dividend of 0.8 US cents per share.
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STM Group PLC - Isle of Man-based pensions and insurance administrator – For the first half of 2022, expects revenue to edge down to GBP11.3 million from GBP11.4 million a year prior, due to weakness in the UK SIPP business as not all strategic partners are fully live. In addition, Ebitda is also expected lower at GBP1.4 million from GBP1.5 million. Also announces appointment of Nigel Birrell as non-executive chair with immediate effect, replacing Duncan Crocker. Birrell's most recent executive role is as CEO of Gibraltar-based bet on lottery operator Lottoland Group for eight years since 2014. Looking ahead, company still expects to meet annual profit expectations.
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Nostra Terra Oil & Gas Co PLC - London-based oil and gas company with operations focused in the US - For the second quarter ended June 30, revenue increases 33% to a record USD1.1 million from USD810,699 the same period a year prior, as average net daily output increases 22% to 125 barrels of oil per day, and a 7% rise in the oil sales price at USD98.28 per barrel.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - For the year ended June 30, pretax loss widens to USD17.1 million from USD15.9 million the same period a year before, on revenue which grows 53% year-on-year to USD4.6 million from USD3.0 million, with strong sales of ArtemiC and phyto-cannabinioid medicine products.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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