30th Apr 2024 15:56
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Sorted Group Holdings PLC - Cheltenham, England-based location data verification company - Receives about GBP2.0 million in research and development tax credits from HMRC. The R&D tax credit relates to Sorted Group Ltd's claim made to HMRC in respect of the financial year ended September 30, 2022.
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Northamber PLC - London-based distributor of audio-visual and information technology equipment - Buys Tempura Technology Ltd and Tempura Communications Ltd from Matthew Light. "Tempura is a value-add distributor of unified communications including VoIP, connectivity, audio visual and video conferencing solutions in the UK, Ireland and the BeNeLux," Northamber says. Located in Basingstoke, Tempura also has premises in Dublin and the Netherlands. The total payment for the acquisition is GBP6.0 million. In year ended June 30, Tempura reported revenue of GBP14.6 million and pretax profit of GBP810,000. Chair Alex Phillips says: "The board believes that there is significant opportunity for further suitable acquisitions in the sector, which should generate additional value for Northamber's shareholders in the medium term."
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Gowin New Energy Group Ltd - China-based LED lighting products and tea trading - Chief Executive Officer Chen Chih-Lung gives GBP20,000 loan. Interest on loan is payable at 2% per annum rate and is repayable in 12 months. "The purpose of the loan is to provide short term liquidity to allow the company to satisfy its payment obligations," Gowin says.
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OptiBiotix Health PLC - York, England-based life sciences company - Says its wholly owned Indian subsidiary, OptiBiotix Health India Private Ltd, has signed a manufacturing agreement with KAG Industries for the supply of Slimbiome containing products ready for sale. Says KAG have developed five flavours "unique to the Indian market." Adds that "KAG is a specialised contract manufacturer of nutritional powders with its own research and development laboratories allowing it to create customised finished products for its clients."
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Pebble Group PLC - Manchester, England-based provider of products and services to the global promotional products industry - Says in year-to-date, financial performance has been "consistent" with same period in 2023. Looking ahead, says trading at Facilisgroup and Brand Addition is progressing in line with the delivery of full year market expectations. "The board continues to see attractive opportunities for both Facilisgroup and Brand Addition and we remain focused on executing our plan for 2024 and beyond," it adds. In a separate announcement, says Richard Law has resigned as chair. CEO Chris Lee to take short-term interim chair role, alongside current duties. Pebble says: "The board would like to thank Richard for his input and counsel and for supporting the teams in developing and implementing the group's strategies and growth plans since its IPO in 2019. "
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Card Factory PLC - Wakefield, West Yorkshire-based greeting cards and gifting firm - Reports results for financial year ended January 31. Revenue climbs 10% to GBP510.9 million from GBP463.4 million a year earlier. Pretax profit jumps 25% to GBP65.6 million from GBP52.4 million. Pays out dividend of 4.5p, up from no dividend a year ago. Looking ahead, Card Factory remains "confident in the long-term compelling growth opportunity" for the company, and in its ability to deliver on the medium-term targets of GBP650 million of sales, pretax profit margins of 14% and 90 net new stores by the end of FY27. Adds that pretax profit growth in financial 2025 is expected to be weighted toward the second half of the year "due to the phasing of planned investment and inflationary recovery actions."
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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Revenue in 2023 falls to GBP125,793 from GBP226,750 a year earlier. Pretax loss widens to GBP427,046 from GBP179,569. Chair Nelson Law says: "Despite the global economy experiencing sluggish growth in the aftermath of the pandemic, the group remains dedicated to enhancing its performance. However, the group acknowledges the challenges posed by ongoing political conflicts between nations. Nevertheless, the group is steadfast in the belief that the group can expand our sales within our region, employing a strategic approach that emphasizes the expansion of direct sales through online shopping platforms."
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By Sophie Rose, Alliance News senior reporter
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