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UK EARNINGS SUMMARY: Numis Profit Grows On "Excellent" Performance

Tue, 08th Dec 2020 13:14

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

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Numis Corp - London-headquartered stockbroker - Annual pretax profit jumps to GBP37.1 million from GBP14.1 million. Revenue in the year to September 30 grows 39% to GBP154.9 million from GBP111.6 million. Dividend is maintained at 12 pence for fifth successive year. Co-Chief Executive Officers Alex Ham and Ross Mitchinson says: "This year was one that we could not have planned for or envisaged. However, in response, we have achieved an excellent performance, strengthened the business and remained constant to our core beliefs, our strategy and ambition." The company adds its revenue performance over the first two months of the new financial year has continued in line with the strong second half performance of financial 2020.

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SDCL Energy Efficiency Income Trust PLC - closed-ended investment company focused primarily on operational energy efficiency assets located in the UK, Continental Europe, North America - Net asset value per share ended September at 102.0 pence, up from 101.0p at March 31. Declares interim dividend of 2.75p, in line with guidance and on track for 5.5p annual target. NAV total return in first half 4.8%. Chair Tony Roper says: "We are very pleased with our portfolio's performance and resilience over the last six months. Although it has been an exceptionally challenging period for global markets, the company has continued to perform in line with expectations as well as grow and diversify by technology, sector and geography. We are very grateful for the continued support from new and existing investors."

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Renew Holdings PLC - engineering services company - Annual pretax profit grows 19% to GBP32.1 million from GBP27.0 million. Revenue in year to September 30 advances 3.3% to GBP620.4 million from GBP600.6 million. Total dividend slips 28% to 8.33 pence from 11.50p. "The pandemic has demonstrated like never before the core defensive strengths and resilience of our high quality, low risk, value-accretive business model in providing 24/7 specialist engineering services to our clients in complex, challenging and regulated environments," Chief Executive Paul Scott says. Says trading in new year has "started well".

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Studio Retail Group PLC - Lancashire-based home-based retail and education firm - Interim pretax profit jumps to GBP15.0 million from GBP5.0 million. Revenue in 26 weeks to September 25 grows 17% year on year to GBP268.0 million from GBP228.7 million. Has no plans to reinstate dividend. Chief Executive Phil Maudsley says: "I am very proud of the way that this group has responded over the last few months to the challenges of Covid-19. These interim results are testament to the strengths of our digitally-focussed value business and the ability of our colleagues and customers to adapt rapidly to change." Also outlines strategic review which includes option to sell company. It adds: "The group's two largest shareholders, Frasers and Schroders, who have a combined shareholding of approximately 56% of the issued share capital of SRG, have each indicated their support for such a strategic review." Notes it is not currently in talks over potential sale.

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Lowland Investment Co PLC - A Janus Henderson-managed growth and income trust with portfolio of mainly UK equities - Net asset value per share ends September at 1,031 pence compared to 1,428p at the same point the year before. Dividend upped to 60p from 59.5p. NAV total return for year minus 25% versus benchmark losing 17%. Chair Robert Robertson says: "The company has always taken a long-term view, but it is disappointing that we need to look at the ten year period, as well as longer periods, to see outperformance over the index. It is particularly disappointing as the year started very well, and it looked as if our multi-cap focus, with a bias towards modestly valued UK stocks, was to be rewarded for patience. The unprecedented impact of the Covid-19-19 pandemic hit the portfolio in March."

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Begbies Traynor Group PLC - corporate restructuring specialist - First half pretax profit slips to GBP500,000 from GBP1.9 million. Revenue in six months to October 31 grows to GBP37.5 million from GBP33.8 million. Interim dividend improves slightly to 1.0 pence from 0.9p. Executive Chair Ric Traynor says: "I am pleased to report a strong financial performance in the period, maintaining our recent track record of growing revenue and adjusted earnings. Despite the challenges of lockdowns this year, and a subdued insolvency market, we expect our results for the full year will be at least in line with the current market consensus, which would represent a further year of growth." Traynor confident in outlook. For financial 2020, posts revenue of GBP70.5 million. Pretax profit fell 14% to GBP2.9 million.

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Solid State PLC - Worcestershire-based computing products manufacturer - First half pretax profit broadly flat at GBP2.4 million. Revenue in the six months to September 30 slips slightly year on year to GBP33.0 million from GBP33.6 million. Interim dividend unchanged at 5.25 pence. Chair Nigel Rogers says: "This is my first set of results as chair of Solid State and I am very pleased to be announcing a performance that suitably demonstrates the resilience of the business given the disruptions faced this year. The half year position compares favourably to our previous record year as a business, which is a great reflection on everyone who has contributed to delivering this outcome." Rogers believes firm entered the second half with a strong balance sheet.

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ULS Technology PLC - online B2B platforms provider for the UK conveyancing and financial intermediary markets - Thame, Oxfordshire-based firm's first half pretax profit falls to GBP69,000 from GBP2.4 million. Revenue in six months to September 30 slips 31% to GBP10.1 million from GBP14.6 million. Chair Martin Rowland says: "We are pleased with our performance in the first half of the year in an unprecedented housing market which virtually came to a standstill in the first two months of the period in terms of existing pipeline and, in particular, new instructions. While the market has since come bouncing back to life with the number of instructions above pre-Covid levels, the lag between instruction and completion means that this will benefit the second half rather than the first half. That said, our ability to make a profit and generate cash in the period against this backdrop, highlights the strength of the company's model and relationships. Importantly, given the volume of instructions, we are now seeing an increasing run-rate of revenue and have good visibility of higher revenues over the coming months."

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Vianet Group PLC - Stockton-on-Tees, England based internet-of-things monitoring platform - Sinks to first half pretax loss of GBP1.4 million compared to profit of GBP1.8 million year before. Revenue in six months to September 30 halves to GBP4.1 million from GBP8.4 million. Chair James Dickson says first half was "challenging". "Nevertheless, trading for the first six months of the financial year has been ahead of management's internal revised revenue and profit forecasts, which is testament to the hard work of our employees and the forward-thinking measures introduced by the board and management to safeguard the business," Dickson adds.

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Zytronic PLC - manufacturer and developer of touch technology products - Sinks to annual pretax loss of GBP423,000 compared to profit of GBP3.1 million year before. Revenue in year to September 30 slips to GBP12.7 million from GBP20.1 million. Blames pandemic for poor revenue. Chair Tudor Davies says: "Whilst we are only two months into the financial year, we have adjusted our operations to the lower levels of demand as it is likely to take several months for the coronavirus vaccines to allow a return to more normal living and then further time for our customers to operate fully and sales to return."

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Phimedix PLC - cash shell - Notes search for an appropriate acquisition has been hampered by the onset of the Covid-19 pandemic. Nevertheless, firm has evaluated several opportunities during the period although, to date, nothing has been identified as being suitable. Pretax loss in the six months to September 30 narrows to GBP36,000 from GBP42,000 year before.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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