6th May 2025 12:47
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Facilities by ADF PLC - Bridgend, Wales-based serviced production facilities for UK film and television industry - Swings to pretax loss of GBP2.8 million for 2024, from profit of GBP615,000 in 2023. Revenue, however, rises 1.2% to GBP35.2 million from GBP34.8 million. It recommends a final dividend of 0.90 pence per share, unmoved from a year prior, giving a total dividend of 1.40p per share, also unchanged. "Trading in the first three months of the year is in line with the board's expectations, with Autotrak performing particularly well. The level of enquiries is increasing, although the timing of projects continues to be uncertain as the market has remained relatively subdued and production companies face frozen budgets, reduced production spend and rising costs," the firm says. "The UK film and HETV industry continues to attract significant global investment, with production companies increasingly choosing its world-class studios, facilities and highly skilled workforce." Shares are 13% lower on Tuesday morning in London, as the film industry has landed in the cross-hairs of US tariffs. Donald Trump said Sunday that Hollywood was being "devastated" by a trend of US film makers and studios working abroad as the president unveiled plans for a 100% tariff on all films made outside the US.
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ITM Power PLC - designer and manufacturer of electrolyser systems for green hydrogen production - To supply Neptune V unit to Westnetz GmbH, a distribution system operator for electricity and gas based in Dortmund in Germany. "Westnetz will integrate the Neptune V unit for their customer, a public transport operator and subsidiary of a German utility company. The project forms part of plans to achieve the EU's Clean Vehicles Directive and have an emission-free hydrogen bus fleet by 2030," ITM Power adds.
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Mycelx Technologies Corp - Georgia, US-based clean water and air technology firm - Wins short-term rental contract for a mobile PFAS treatment system. System will treat groundwater contamination at a site in North Dakota for US Department of Defense. "The original contract for PFAS treatment is for three months, but we believe volumes will increase so we are anticipating the rental potentially extending beyond the original term," Mycelx adds. The deal is included in revenue forecast for 2025 financial year.
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Kosmos Energy Ltd - gas and oil exploration company with assets in nations including Senegal and Ghana - Swings to net loss of USD110.6 million in first-quarter of 2024, from profit of USD91.7 million a year prior. Revenue falls 31% to USD290.4 million from USD419.1 million. "While the macro backdrop continues to be volatile, Kosmos' priorities announced with our full year 2024 results in February remain unchanged - the delivery of free cash flow from increasing production and a rigorous focus on costs. We are seeing evidence of this with a material reduction in year-on-year capex in the first quarter and production starting to rise in the second quarter after heavy scheduled 1Q maintenance," Chair and CEO Andrew Inglis says. "The long-term outlook for our portfolio of high-quality assets remains positive. A 2P reserves-to-production ratio of over 20 years supports the long-term potential of Kosmos as we focus in the near term on cash generation, cost control and debt paydown."
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Star Energy Group PLC - onshore oil and gas fields in Britain and develop and building geothermal business of scale - Teams with Veolia Environnement SA to develop large scale geothermal heating projects in the UK. "The partnership further extends Star Energy's diversification, using its existing expertise, into geothermal energy, and supports Veolia's global GreenUp strategy to lower carbon emissions and counter climate change," Star Energy says.
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Getech Group PLC - Leeds, England-based provider of geo-energy and green hydrogen location services - Pretax loss in 2024 narrows to GBP1.6 million from GBP5.1 million in 2023. Revenue improves 16% to GBP4.7 million from GBP4.0 million. "In 2024, we made solid progress in advancing our services and solutions, achieving a 16% increase in sales. In 2025, the appointment of Chris Jepps as CEO has already had a positive impact. Within the first three months of the year, we've reduced our annual cost base by a further GBP1 million, without compromising our ability to deliver for clients, and in doing so have set a clear path to being EBITDA positive by the end of 2025," Chair Michael Covington says. Revenue in first three months of 2025 is 8% higher on-year.
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ZCCM Investments Holdings PLC - Lusaka-based mining and energy investor - It expects a swing to profit of USD1.62 billion for 2024, from a loss of USD199 million in 2023. It records a one-off gain of USD1.41 billion amid the Mopani deal. "The transaction repositioned Mopani Copper Mines PLC as a financially sustainable entity and enabled the settlement of ZMW 44.72 billion (USD1.71 billion) in Glencore/Carlisa debt through the amendment, restatement, and consolidation agreement," it adds. The firm was unable to publish annual results within regulatory timeframes of the Lusaka Securities Exchange and the London Stock Exchange. Shares were suspended effective May 1 in London. "The delay in publishing the audited financial results for the year ended 31 December 2024 is due to challenges in consolidating the company's accounts, stemming from the delayed completion of audits for certain key investee companies," it adds. On Friday, it reported Ndoba Vibetti left as CEO, with effect April 30. It named Chief Technical Officer Tisa Chama as its acting CEO.
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Maintel Holdings PLC - London-based digital communications firm - Swings to pretax profit of GBP374,000 in 2024, from loss of GBP6.8 million in 2023. Revenue, however, falls 3.4% to GBP97.9 million from GBP101.3 million. "While this represented a reported decrease of 3.4%, revenue in 2023 was flattered by the late delivery of GBP10.8 million in sales orders secured in 2021 and 2022 but delayed due to supply chain shortages during the pandemic," Maintel says. Exceptional items in 2024 total GBP2.2 million, falling 68% from GBP7.0 million. It posts business transformation costs of GBP1.1 million within 2024 exceptional items, falling markedly from GBP5.0 million in 2023. "The board remains confident that it can build on the encouraging progress made across all aspects of the business during 2024 and meet market expectations for 2025 but is again expecting the performance to be weighted towards the second half of the year," Maintel adds.
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Huddled Group PLC - Nottingham, England-based investor in e-commerce brands - Revenue in 2024 jumps to GBP14.2 million from GBP2.4 million, but pretax loss stretches to GBP4.0 million from GBP2.3 million. Cost of sales rise to GBP14.1 million from GBP2.5 million. Administrative expenses increase 53% to GBP4.3 million from GBP2.8 million. "FY2024 was a year of cash investment into our various brands, growing Discount Dragon, acquiring both Nutricircle and Boop Beauty, and putting the foundations in place for a dynamic e-commerce business. Our goal is to be recognised as the UK's most trusted surplus goods e-commerce retail group, helping to reduce unnecessary waste. By redistributing perfectly good products to customers at a fraction of the retail price, we create value for customers, stakeholders, and have a positive impact economically, socially and environmentally," CEO Martin Higginson says. "The list of big brand partners working with us continues to grow across all three of our brands, all with a common goal of reducing and monetising waste. We have seen revenue and customers grow rapidly in FY2024, a trend that has continued into FY2025 with total group revenue for March 2025 exceeding GBP1.7 million."
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Eden Research PLC - Oxfordshire, England-based developer of biopesticides and formulation technologies for the crop protection, animal health and consumer products industries - Pretax loss in 2024 narrows to GBP2.2 million from GBP6.9 million. Revenue improves 34% to GBP4.3 million from GBP3.2 million. "In addition to this, several key milestones were reached in 2024 which will all help to drive revenue in the short and medium term and get Eden to the point of cashflow positivity, which will be a significant milestone for the business," Chair Lykele van der Broek says. "I remain very optimistic about Eden's prospects and believe that the company is making excellent progress toward achieving its goal of becoming a leader in the biological crop protection products and solutions industry."
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Time Finance PLC - Bath, England-based asset, loan and invoice finance provider for small and medium enterprises - Says "strong" first three quarters of financial year ending May 31 has been "maintained throughout March and April 2025". "This ongoing positive trading momentum provides the Board with significant confidence that the group financial performance for FY 2024/25 will be at least in line with current market guidance," Time Finance adds.
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Picton Property Income Ltd - real estate investment trust focused on UK commercial property - Gets consent for an additional floor of residential accommodation above offices at 50 Farringdon Road in London. "The consent allows for the creation of a new fourth storey, comprising 13 residential flats and totalling approximately 8,200 sq ft, all with views across the London skyline towards St Paul's Cathedral," it says. "This is the first Class AB Permitted Development application approved by the London Borough of Islington, enabling residential accommodation to be built above existing commercial assets and without the need for a full planning application." In addition, it lifts its quarterly dividend to 0.95 pence for the period to March 31, up 2.7% on-quarter from 0.925p.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Zccm Inv.hds.bGetech GrpStar EnergyMaintelHuddled GroupMycelx DiItm PowerKosmos EnergyADF FacilitiesPicton PropEdenTime Finance