31st Jan 2025 12:25
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and Friday and not separately reported by Alliance News:
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Ricardo PLC - environmental and engineering consulting company based in Shoreham-by-Sea - Reports "further progress" for continuing operations in its first half year ended December 31. Says reported year-to-date revenue is up 1% or 2% at constant currency. Order intake for the half year increased 10% or 11% at CER, "reflecting good progress in securing multi-year contracts". Says Energy & Environment delivered strong order growth driven by multi-year contract wins, but that the phasing of orders impacted first-half revenue and profit. Expects "good profit growth in the second half". Says Rail saw growth overall, "reflecting strong performance in Asia", but the California High Speed project has been deferred until further notice due to wildfires. Expects "continued profit momentum" in Automotive & Industrial, while Performance Products "delivered good revenue and profit growth". Company notes that it recently completed the acquisition of E3 Advisory and the disposal of its Defense business, the latter of which "has optimised cash". Looking ahead, it says that due to delayed orders "we will be below consensus expectation" for financial 2025. However Ricardo does expect "good group organic underlying profit growth" as well as profit from the E3 Advisory acquisition.
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Petards Group PLC - Guildford, England-based security, communication and surveillance systems developer - Expects trading for 2024 to be below its expectations at the time of its interim results. Expects, however, to report around GBP12.1 million in group revenue, up from GBP9.4 million in 2023. The second half year, which includes Affini Technology Group Ltd - acquired by Petards in June - contributed about GBP7.7 million. Expects adjusted earnings before interest, tax, depreciation and amortisation of about GBP400,000, up from around GBP300,000. QRO Solutions revenue and Ebitda should be up annually, "although not by as much as the board had anticipated". Order book is worth GBP7.1 million as of December 31, up from GBP2.4 million one year prior. Petards notes that QRO recently launched an in-car mobile version of its Harrier AI ANPR camera and intends to "develop further into broader markets" this year.
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Sancus Lending Group Ltd - London-based alternative financial services provider - Announces that majority shareholder Somerston has entered a junior funding commitment for up to GBP10 million in financing, which it will use to support loan financing facilities that Sancus has and/or expects to enter into. Company has via its subsidiary Sancus Loans Ltd access to a loan facility of up to £125 million from Pollen Street Capital-managed funds. The facility is GBP105 million-drawn and matures in November 2026. Sancus is "also making good progress in finalising other financing facilities for its UK and Irish businesses, including with another leading UK challenger bank". Says that at December 31 its loans under management totalled GBP238 million, 18% more than GBP202 million one year prior, "reflecting growth in our UK and Irish businesses". Also it wrote GBP114 million in new facilities, up 12% from GBP102 million on-year. Turnover for 2024 increased 36% to around £16.8 million from £12.3 million in 2023. Sancus also expects "an at or around break even result for the year", including a roughly GBP2.8 million gain from the repurchase of some zero dividend preference shares, against the previous year's GBP9.0 million loss. Aims to reach run-rate profitability in 2025.
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By Emma Curzon, Alliance News reporter
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