(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Active Energy Group PLC - London-based biomass renewable energy company - Confirms shares will be suspended from July 1 as company is not in a position to finalise its 2023 results prior to June 30. Further, company has notified the London Stock Exchange it intends to cancel the admission of the shares on July 23. This requires 75% backing of shareholders.
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Lords Group Trading PLC - distributor of building materials in the UK - Issues trading update ahead of Thursday's annual general meeting. Says since trading update in May, revenue has been in line with management expectations. Demand for the group's repair, maintenance and improvement focused product offering has been similar to the first quarter of financial 2024 and gross margins have been maintained. "Whilst challenging macroeconomic conditions have impacted trading at the start of FY24, the group is well positioned in a highly fragmented and essential RMI sector," company says.
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Time Out Group PLC - media and hospitality business - Says sales in both its Media and Market arm picked up in the final quarter ended June 30. It now expects earnings before interest, tax, depreciation and amortisation to be ahead of current market expectations. "We are pleased with our recent trading performance and are increasingly confident that this momentum will continue as we approach the new financial year. Our growth plan and strategic decisions are delivering results; our strong brand and curated 'best of the city' content continues to attract more traffic to our digital Media and more footfall to our Markets, alongside our pipeline of openings," Chief Executive Officer Chris Ohlund says.
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Atrato Onsite Energy PLC - renewable energy-focused investment trust - Net asset value at March 31 is 90.0 pence compared with 93.8p a year prior. Dividends per share total 2.63p compared to 2.52p. In the six months to March 31, NAV return equals 0.7% compared with 3.5% a year before. Target dividend of 5.5p per share reaffirmed. Says NAV impacted by a 50 basis points increase in the weighted average discount rate to 7.9%.
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NCC Group PLC - cybersecurity company - Expects adjusted operating profit for the year ended May 31 of GBP31 million, ahead of consensus of GBP29.7 million, driven by delivering targeted efficiencies in both gross margin and operating costs. It notes like-for-like revenue for the year declines around 1% at constant currency to GBP324 million, down 3% at actual rates. Cyber Security revenue returned to growth in the second half, up 6.0%, on a constant currency basis following a decline of 9.6% in the first half. This should result in a full year decline of 2.0% on a constant currency basis, company says. Managed Services growth has continued to accelerate, NCC says, increasing by 36% and Technical Assurance Services has declined by 23% with the recovery in demand less consistent than expected. Expects to maintain a 12 month dividend of 3.15p.
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ECR Minerals PLC - Australia-focused gold exploration company - In the six months to March 31, posts pretax loss of GBP451,412, narrowed from GBP724,566 a year prior. Administrative expenses fell to GBP540,950 from GBP721,703. Loss per share is 0.03 pence compared with 0.20p.
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LSL Property Services PLC - Newcastle Upon Tyne, England-based provider of services to mortgage intermediaries and franchised estate agencies - Issues trading update ahead of Thursday's annual general meeting. "We are pleased to confirm that the group has continued to trade well, with the outlook for the full year in line and potentially slightly better than our updated expectations reported at the time of the preliminary results announcement," LSL says.
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Futura Medical PLC - Guildford, England-based pharmaceutical company focused on sexual health products - Issues trading update ahead of Thursday's annual general meeting. Says financial 2024 continues to progress well, as previously reported in the group's full year results in April. Confirms product launches in at least ten countries during the first half. Also confirms that revenue remains in line with market expectations. Expects further launches in the second half of the financial year in both Europe and Rest of World. Plans to give updated guidance on trading alongside interim results in September.
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Mobile Tornado Group PLC - Harrogate, England-based critical communications services provider - In 2023, pretax loss narrows to GBP1.1 million from GBP1.4 million. Revenue unchanged at GBP2.3 million while administrative expenses fall to GBP2.3 million from GBP2.5 million. Recurring revenue decreased to GBP1.9 million from GBP2.0 million. "The board is focused on growing the company's recurring revenues as this will be the primary driver for delivering increased shareholder value," company says.
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Strix Group PLC - Isle of Man-based kettle safety controls and other devices for water heating and temperature control, steam management, and water filtration - Issues trading update ahead of Thursday's annual general meeting. Confirms that pretax profit for 2024 full year remains in line with current market expectations. Additionally, the cash conservation actions taken in the first half have resulted in year-to-date cash generation for the group running slightly ahead of expectations. This positive trend further supports an anticipated net debt leverage position of less than 2.0x. Strix says its intention to finalise a full refinance of its banking facilities in 2025 to advance the group's growth aspirations. A pre-close trading update for the six months period ending June 2024 will be made in July 25.
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Henderson Opportunities Trust PLC - investment trust - Net asset value at March 31 is 241.1 pence, up from 245.7p a year prior. NAV total return per share improves to 38.1p from 15.0p. NAV total return is 18.6% up from 6.3%. This outperformed the FTSE All-Share Index benchmark which rose 14.2%. Dividend is unchanged at 3p.
"This was a welcome recovery in both absolute and relative terms, although we recognise that on a long-term basis performance remains disappointing and therefore we need this trajectory to continue," company says.
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Getech Group PLC - Leeds, England-based geo-energy and green hydrogen location company - In 2023, pretax loss widens to GBP5.1 million from GBP3.1 million as revenue falls to GBP4.0 million from GBP5.1 million. Administrative expenses edge down to GBP4.7m from GBP4.8 million. Order book is unchanged at GBP4.6 million while annualised recurring revenue rises to GBP2.8 million from GBP2.4 million. Further, says in the first four months of 2024 unaudited revenue is 17% ahead of the same period last year.
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By Jeremy Cutler, Alliance News reporter
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Active Energy (AEG)
Lords Grp Tr (LORD)
Time Out (TMO)
Atrato Onsite (ROOF)
Ncc (NCC)
ECR Minerals (ECR)
Lsl Prop (LSL)
Futura Medical (FUM)
Mobile Tornado (MBT)
Strix (KETL)
Henderson Opportunity Trust (HOT)
Getech Grp (GTC)