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EARNINGS: accesso Tech turns to loss on costs; DP Eurasia hails Turkey

19th Sep 2023 16:26

(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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accesso Technology Group PLC - England-based provider of software for leisure, entertainment and cultural sectors - For the six months to June 30, returns pretax loss of USD839,000, swung from a profit of USD2.9 million a year prior, citing high inflation and acquisition costs. Revenue climbs 3.2% to USD65.8 million from USD63.7 million. However, administrative costs increase 12% to USD49.1 million from USD43.8 million, while cost of sales increase 4.5% to USD17.5 million from USD16.7 million. Says payments of dividends are unlikely in the short to medium term. Looking ahead, firm says: "We move into the second half with optimism about our existing and newly acquired businesses. We will continue to integrate and drive synergies and value from the excellent technologies, people, and expanding markets we have within our enlarged group. We maintain an exceptionally strong balance sheet with low levels of gearing and have no doubt we will continue to capitalise on the exciting market opportunity ahead of us."

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Concurrent Technologies PLC - Essex, England-based designer and manufacturer of computer boards - In the first half of 2023, pretax profit jumps to GBP973,496 from GBP32,413 a year prior. Revenue surges 64% to GBP12.1 million from GBP7.4 million. Cost of sales increase 66% to GBP6.1 million from GBP3.7 million, while net operating expenses increase to GBP5.0 million from GBP3.7 million. Declares no dividend but considers the re-introduction of a full-year dividend, citing its recovery. Touts optimism in its outlook, seeing itself on a growth path as it cites its acquisition of Philips Machine & Welding Co Inc, or Phillips Aerospace, for around USD3.4 million early this month.

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Corre Energy BV - Groningen, Netherlands-based renewable energy storage and green hydrogen company - In the six months to June 30, pretax loss narrows 38% to EUR11.4 million from EUR18.4 million a year ago. Posts no revenue. Eyes itself on a growth path as it "continues to hold and grow the largest pipeline of long-duration energy storage projects in Europe." Further, notes it has agreed a combined total of EUR10 million of new funding to support the build-out of an additional pipeline of development opportunities across Europe and North America, focused on delivering key project milestones on its projects.

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CPPGroup PLC - Leeds, England-based technology-driven assistance and insurance provider - For the first half of 2023, reports statutory pretax loss of GBP3.7 million, swung from a profit of GBP1.1 million a year prior. Underlying pretax profit rises 25% GBP2.0 million from GBP1.6 million. Dividends remain suspended due to costs and uncertainties. Looking ahead, Chief Executive Officer Simon Pyper cites confidence about growth prospects of the company's core operations for the second half of 2023. Further, he says: "Operationally, the group is now at the implementation stage of its Change Management Programme which, at its conclusion, will see the group exit from its legacy businesses and focus on growing its core Blink, Indian, and Turkish operations. The key milestones for this year are the implementation of the new IT platform for India, the building of capacity for the Blink

platform, and commencing active closure plans for the Legacy businesses."

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DP Eurasia NV - master franchisee for Domino's Pizza Group PLC in Turkey, Azerbaijan and Georgia - In the first half of 2023, pretax profit rises 13% to TRY242 million, about GBP7.2 million, from TRY215 million a year ago. Revenue climbs 25% to TRY1.58 billion from TRY1.27 billion. Cost of sales increase 9.4% to TRY900 million from TRY822 million. Number of Domino's stores in Turkey as at June 30 increase to 675 from 628, while number of stores in Russia decline to 142 from 184. Number of COFFY stores in Turkey in the same period jump to 51 from 15. Amount of total stores as at June 30 increase by 5.0% to 884 from 842. Eyes further "strong" store openings momentum in Turkey for both Domino's and COFFY, driven by "solid" demand. "The group anticipates that [financial 2023] will be another year of strong network expansion as the it seeks to broaden its coverage to cater to demand," firm says. Expects 35-40 Domino's Pizza net store openings for Turkey in 2023, as well as 50-60 COFFY net store openings in the country. Now expects a like-for-like growth rate in the high teens in Turkey, revised upwardly from low teens.

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Volvere PLC - Leamington Spa, England-based investor in undervalued or distressed businesses - Pretax profit in the first half of 2023 grows 14% to GBP441,000 from GBP387,000 a year prior, as hails "good" performance from Shire Foods, its savoury products manufacturer. Revenue climbs 21% to GBP19.1 million from GBP15.8 million. Cost of sales increase 20% to GBP16.5 million from GBP13.8 million. Looking ahead, Chair David Buchler says: "We continue to actively seek further investments in both the food and other sectors and will continue to consider other ways to deliver value for shareholders."

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By Tom Budszus, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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