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EARNINGS AND TRADING UPDATES: GetBusy hails integration into Ultratax

18th Jan 2024 14:31

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Avingtrans PLC - Chatteris, England-based designer and supplier of components and services to the energy, medical and industrial sectors - Says first financial half to November 30 was in line with own expectations, as introduces newly formed advanced engineering systems division. "The consolidation of these divisions is driven by two primary objectives. Firstly, it aligns with the group's Pinpoint-Invest-Exit model by facilitating strategic exits for the business units within the division. Secondly, it aims to present a clearer distinction of the mature engineering businesses and their overall contribution to the group's results," Avingtrans explains.

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Deltex Medical Group PLC - Chichester, England-based manufacturer of blood circulation monitoring systems - Revenue falls 28% to GBP1.8 million in 2023 from GBP2.5 million in 2022, in line with own expectations. Expects to be well-positioned for long-term growth, citing the launch of its new TrueVue System back in June combined with its new streamlined cost base. "The group continues to develop the new non-invasive Doppler-based haemodynamic monitoring device that is complementary to its existing product range, and which will also run on the new TrueVue System, and work continues on a prototype for clinical evaluation in a leading UK hospital," Deltex Medical says.

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Equipmake Holdings PLC - Norfolk, England-based manufacturer and developer of electrification products for use across the automotive, aerospace, bus, coach and fire truck industries - Pretax loss widens 7.2% to GBP3.0 million in the six months to November 30 from GBP2.8 million a year prior. Revenue jumps 96% to GBP2.1 million from GBP1.1 million. Cost of sales however more than double to GBP1.9 million from GBP823,889. Administrative expenses increase 35% to GBP3.3 million from GBP2.4 million, which the firm says is in line with its financial plan and reflects the expansion of its business since its initial public offering in July 2022. Looking ahead, Equipmake says: "We are seeing our strategy play out as anticipated, although taking a little longer in this phase than we had originally planned, as we became more selective in the opportunities we pursue whilst we ensured our product costs and manufacturing capabilities were ready for the next phase."

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GetBusy PLC - Cambridge, England-based document management and productivity software provider - Hails "continued double-digit growth" during 2023, with adjusted pretax loss to be slightly better than market expectations of GBP800,000. Revenue grew 9.4% to GBP21.1 million from GBP19.3 million in 2022, and in line with market expectations. Highlights uptake of the integration into Thomson Reuters's Ultratax product which launched in July "and approximately doubles the medium-term market opportunity, has been encouraging in terms of volumes and price."

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Robinson PLC - Chesterfield, England-based plastic and paperboard packaging manufacturer - Expects 2023 revenue to fall 1.8% to GBP49.6 million from GBP50.5 million the prior year, as sales volumes decline 6% from 2022, citing the cost-of-living crisis. Operating profit before exceptional items and amortisation of intangible assets is expected to be ahead of 2022, and in line with current market expectations, firm adds. "We believe we have now passed the worst of the downturn with our customers; sales volumes in the second half of 2023 were 1% above the comparative period in 2022, as implemented new projects began to take effect. As a result of successful sales activity, we expect a substantial increase in sales volume in the plastics business in 2024," Robinson says. Further, anticipates 2024 revenue and adjusted operating profit in 2024 to be ahead of 2023.

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By Tom Budszus, Alliance News slot editor

Comments and questions to [email protected]

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