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EARNINGS AND TRADING: Character Group ups buyback; Calnex revenue down

3rd Apr 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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Character Group PLC - Surrey-based toy company - Extends GBP1.0 million share buyback programme, announced in February, to GBP2.0 million. Says it has so far repurchased 365,770 shares for cancellation at an average price of 264 pence, totalling GBP964,059.49. Character says the other terms set out in its original February announcement remain unchanged.

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Calnex Solutions PLC - Linlithgow, Scotland-based provider of test and measurement solutions for the telecommunications and cloud computing markets - Says it anticipates results for the full year ended March 31 to be broadly in line with market expectations, with revenue at around GBP16.3 million, down 41% from GBP27.4 million in financial 2023. Calnex says it has focused on cost control over the year, and estimates its cash balance at GBP11.9 million as at March 31. Says performance has been impacted by the "well documented ongoing challenges in the telecoms sector", but that it is confident in the market improving. Chief Executive Officer Tommy Cook adds: "In the face of a challenging telecoms market we have successfully adjusted the focus of our engineering programmes towards the markets showing the most resilience and opportunity, with positive customer conversations taking place across each of our new product programmes. The cloud computing market in particular represents an increasingly exciting opportunity and with the long-term growth drivers in the telecoms market remaining intact, we are well placed to return to growth in FY25 and beyond." Calnex will release its results for the year on May 21.

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APQ Global Ltd - Guernsey-based emerging markets income company - Says its book value increases to 30.20 US dollar cents in 2023 was "substantially driven" by a strong performance from its investee company Delphos International, a financial advisory firm based in Washington DC. APQ says this resulted in an increase to a third-party valuation of the company, to USD27.0 million from USD6.3 million in 2023. APQ acquired a controlling interest in Delphos in March 2020.

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By Hugh Cameron, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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