27th Mar 2025 14:26
(Alliance News) - The following is a round-up of earnings and trading updates for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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SRT Marine Systems PLC - Somerset, England-based developer of maritime domain awareness systems - Swings to a pretax profit of GBP2.1 million in the six months to December 31, from a loss of GBP4.6 million a year prior, as revenue multiplies to GBP26.2 million from GBP5.5 million. This is due in part to a USD213 million contract with the Kuwait Ministry of Interior, for the delivery of an integrated SRT maritime surveillance system during the six-month period. "As we expected we have seen solid revenues from both transceivers and systems divisions and look forward to continued growth into H2 and the years ahead," says SRT Chief Executive Officer Simon Tucker. SRT has a forward contract order book of around GBP320 million.
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Capricorn Energy PLC - Egypt-focused oil and gas explorer - Swings to pretax profit of USD13.9 million during 2024, from a loss of GBP102.1 million a year prior, despite revenue falling 26% to USD147.8 million from USD201.0 million. Capricorn records a USD15.7 million impairment reversal of property, plant and equipment for development or producing assets, swung from a USD29.1 million impairment charge the year before. Unsuccessful exploration well costs are reduced to USD8.9 million from USD20.5 million, and the expected credit loss adjustment on revenue receivable is down to USD3.9 million for the year from a USD9.0 million charge in 2023. Administrative and other expenses are down 61% to USD23.9 million from USD61.9 million. Chief Executive Officer Randy Neely says: "Growth and diversification of operations and cash flows will be a key focus for 2025. Our goal is to ultimately deliver consistent shareholder returns and we are evaluating [mergers & acquisitions] opportunities in the UK North Sea and MENA region, through a strict set of financial and strategic criteria, to facilitate this. With a solid foundation being established in Egypt, we are well positioned for positive developments this year."
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James Latham PLC - Hemel Hempstead, England-based distributor of timber, panels and decorative surfaces - Confirms revenue for the year due to end March 31 remains in line with market expectations, with volumes "slightly up" from the prior year. Also anticipates adjusted pretax profit will be in line with market forecasts, but does not provide on Thursday provide a consensus. Says cost prices have remained stable throughout the year, but notes that the market for timber and panel products remain competitive. James Latham is due to publish its full-year results on June 26.
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CML Microsystems PLC - Essex, England-based developer of mixed-signal, radio frequency and microwave semiconductors for communications markets - Expects revenue for the year due to end March 31 to be broadly flat on-year, as a result of a "marginally profitable" second half affected by product mix and temporarily elevated US running costs. Its US Silicon Valley team has now completed its relocation, meaning CML will no longer be incurring additional expenses as it waited for relevant building permits. Says the market environment during its second half "continued to be challenging, with the softness from the industrial markets persisting". Adds that there are "encouraging signs" that it may be at or near the bottom of its ongoing inventory correction process. Expects earnings before interest, tax, deprecation and amortisation to exceed GBP5 million, against USD5.7 million in adjusted Ebitda a year prior, excluding an exceptional goodwill write-off associated with the restructuring of its research & development team in the UK. "While the short-term outlook remains subdued, our strategic focus on innovation and product diversification will pave the way for recovery and growth in the coming periods," CML says. The firm will release its full-year results on June 24.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Srt Marine Sys.Capricorn Energy PLCLatham TimberCML Microcircuits