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EARNINGS AND TRADING: Half-year loss widens at Triad as revenue falls

20th Dec 2023 17:57

(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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Beacon Rise Holdings PLC - acquisition company - Reports pretax loss in the six months to September 30 of GBP19,714, narrowed from GBP112,822 the year prior. Loss per share totalled 2.0 pence compared to 10.0 pence before. Explains at the reporting period end, the company did not have any current operations, no products were sold, and no services were performed. Continues to seek acquisitions of UK and overseas businesses or assets with operations in the sectors that can contribute greater benefits to shareholders.

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Triad Group PLC - Godalming, England-based technology consultancy - Reports revenue in the six months ended September 30 fell to GBP6.4 million, down 10% from GBP7.1 million the year before. Pretax loss widened to GBP1.0 million from GBP410,000 with loss per share of 6.03 pence compared to 2.48p. The dividend was unchanged at 2p per share. Says disappointing results reflected factors "entirely outside our control." Highlights four recent contract wins in the public sector. Explains this should "transform our second half results for the current year, and in particular the full year results for the next financial year and going forward."

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Vector Capital PLC - London-based commercial lending group - Updates on trading for the year ending December 31. Continues to trade positively during the second half of the year, continuing the trend in its interim results. Expects revenue, pretax profit for the full year and the aggregate loan book at the year-end to be in line with market expectations. Despite continued challenging conditions has been able to generate new lending opportunities and work with existing clients to maintain profitable trading margins. Will continue to make prudent provision for doubtful debts and states demand for new loans remains strong. Further, says interest rate on inter-company loan will remain at 6.25%.

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Amedeo Air Four Plus Ltd - Guernsey-based aircraft investment company - Reports rental income in the half-year ended September 30 was GBP91.2 million compared to GBP105.8 million the year before. Pretax profit more than halved to GBP23.0 million from GBP55.8 million as did earnings per share to 7.56 pence from 16.07p. Notes the company currently pays a quarterly dividend of 1.75p per share. Expects to be able to continue to pay a dividend of at least this amount until July 2026 after which the company’s leases start to expire. Explains the rate of dividend is therefore likely to decline significantly after that date but will depend on the circumstances existing at that time.

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Sure Ventures PLC - London-based venture capital fund - Reports pretax loss in the six months ended September 30 of GBP401,423 widened from GBP192,566. Net asset value per share totalled 112.67 pence compared to 119.81p. States performance has been stable in a challenging economic environment, marked by higher inflation, higher interest rates, and geopolitical tensions. Believes its investment portfolio is well positioned for significant returns in breakthrough technology sectors. Notes the portfolio construction of Fund I is complete and is now at the realisation stage. Adds several companies are attracting interest from potential acquirers, with some engaged in ongoing discussions for several months.

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RUA Life Sciences PLC - Glasgow, Scotland-based medical devices firm - Updates on recent developments of the RUA leaflet composite. Explains the objective for RUA Structural Heart during 2023 was to evaluate heart valve leaflet material and compare the performance of 100% polymeric valves with the novel composite developed by the group. The computational modelling of the composite material at the design stage suggested that its mechanical properties would be ideal for heart valve leaflets. Says patent protection for the material has now been sought and coupled with the testing results achieved RUA is now seeking to commercialise the RUA composite material as an alternative to animal tissue used in the manufacture of heart valves. Engagement with the industry has been positive and, as previously announced, a major heart valve company has approached the company to undertake its own tests and has now entered into a material testing agreement in order to do so.

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T42 IOT Tracking Solutions PLC - Jersey-based firm which provides tracking, security, and monitoring solutions for the global supply chain, logistics, container, and freight market - In advanced talks to extend the repayment date of the convertible loan note announced in December 2021. Points out the lenders have indicated their willingness to do so.

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URA Holdings PLC - Africa-focused mineral exploration - Provides update for its Gravelotte emerald mine. Says the custom-made optical sorter has been completed and final payments have been made. The optical sorter has now been shipped and is expected to arrive in mid to late January 2024. On arrival, a crew will be sent to site from China for assembly and commissioning. Adds, trial mining and processing activities can potentially re-start within a short time frame.

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Botswana Diamonds PLC - Reports pretax loss in the year ended June 30 was GBP3.7 million multiplied from GBP738,992 the year before. Includes a write-off of exploration expenditure of GBP3.2 million. Says this is a non-cash item, relating to the closure of the Sunland joint venture. Basic loss per share totalled 0.38 pence compared to 0.09p before. States Botswana is still the principal focus and remains convinced that more diamond deposits are still to be discovered. Expresses cautious optimism for 2024.

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GRC International Group PLC - Ely, England-based provider of products and services for IT governance, risk management and compliance - Reports revenue in the six months to September 30 rose 4% to GBP7.6 million from GBP7.3 million. Pretax loss widened to GBP0.9 million from GBP0.5 million while adjusted earnings before interest, tax, depreciation and amortisation halved to GBP0.2 million from GBP0.4 million. Plans continued investment in the CyberComply platform and expects this investment will support an acceleration in revenue growth through the third quarter and for compliance pressures to drive a very strong fourth quarter. However, stresses full year results will inevitably depend on fourth quarter expectations being realised. Points out trading performance is historically weighted towards the second half. Expects this patten to continue in the current year. Remains confident of meeting market expectations for the full year to March 31 2024.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to [email protected]

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