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EARNINGS AND TRADING: Chamberlin loss narrows; Corero inks Latam deal

21st Feb 2024 14:33

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

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Angling Direct PLC - Norfolk, England-based fishing tackle retailer - Expects annual revenue of GBP81.7 million for the year ended January 31, up 10% from GBP74.1 million the year before. This was driven by a 9.0% increase in UK sales to GBP77.4 million from GBP71.0 million the year before, and a 7.6% rise in retail store sales to GBP44.4 million from GBP41.3 million. Online sales jumped 14% to GBP37.2 million from GBP32.8 million. Chief Executive Officer Steve Crowe says: "Angling Direct has continued to gain market share in the UK and Europe, and we believe there are significant further growth opportunities in both markets. The group will continue to invest in its digital and physical footprint in the UK to capture further market share growth, leveraging its strong balance sheet to ensure it is competitively placed as consumer confidence returns. Since the period end, the UK business has completed one small footprint store acquisition in Crewe and opened one new store in Cannock, alongside committing substantial capital investment to an automated customer order packaging solution for the UK distribution centre."

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Rights & Issues Investment Trust PLC - Essex, England-based investor in smaller UK companies - Net asset value per share at December 31 2,337.1 pence, up 2.4% from 2,283.2p a year ago. NAV total return for 2023 was 2.4%, compared to negative 25% at the end of 2022. This is slightly lower than the FTSE All-Share index benchmark return of 3.8%. Recommends a final dividend of 31.25p per share, up from 29.25p a year prior. Total dividend is 43p, up 7.5% from 40p.

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Clean Power Hydrogen PLC - Doncaster, England-based green hydrogen technology and manufacturing company - Successfully completes its functional test of the programme logic control of the MFE110 system for Northern Ireland Water. The programme logic control represents the coded programme which automatically operates the MFE110 including shutdown, it says. Says the successful test was witnessed by Lagan MEICA Ltd, the contractor to Northern Ireland Water, and means the factory acceptance test can progress to the final stages. CEO Jon Duffy comments: "The successful test of the programme logic control allowing for fully automated operation, signifies an important part of the MFE110's journey to commercial production of hydrogen and medical grade oxygen. While the pausing of the FAT test in November 2023 due to issues regarding the shutdown mechanism were disappointing, I am extremely proud of the team for re-evaluating the important safety shut down measures, and successfully finding a solution which has put us back on track to completing the MFE110 for our customers in the very near-term future."

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Chamberlin PLC - West Midlands-based specialist castings and engineering group - Says performance for the half year ended November 30 was broadly in line with expectations. Interim pretax loss narrows to GBP78,000 from GBP467,000 a year ago. Revenue grows 1.0% to GBP10.6 million from GBP10.5 million a year prior. Looking ahead, says prospects for sustainable growth are achievable over the short to medium term. It is also moving forward with improved working capital resources in regard to its steel output. Separately, Chamberlin announces the sale of Petrel Ltd to Project Apollo Ltd for a total cash consideration of GBP3 million.

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Cambridge Cognition Holdings PLC - Cambridgeshire, England-based company which develops and markets digital solutions to assess brain health - Inks deal with ActiGraph for digital measurements of central nervous system trials. Chief scientist at Cambridge Cognition Francesca Cormack says: "CNS disorders are characterised by a host of heterogeneous symptoms which impact daily life, but that are often inadequately addressed by existing treatments. Our partnership with ActiGraph represents an exciting combination of expertise in objective digital measures of actigraphy, speech and cognition that will help accelerate the development of treatments for patients and improve efficiency in clinical trials."

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Corero Network Security PLC - London-based cybersecurity provider - Creates strategic Latin American partnership with Brazilian networks solutions distribution, TechEnabler. CEO Carl Herberger says: "Creating this strategic partnership with TechEnabler provides an ideal platform to expand our product reach in a key growth market for Corero, alongside aligning our business with a partner who shares our commitment to cybersecurity excellence. This agreement reinforces our focus on security innovation, which in turn will allow a new crop of businesses to fortify their networks against DDoS attacks whilst exploring further opportunities to leverage our cutting-edge solutions."

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By Sabrina Penty, Alliance News reporter

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