1st Apr 2025 13:00
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
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Caledonia Mining Corp PLC - Zimbabwe-focused exploration, development and mining firm - Reports pretax profit of USD40.5 million for 2024, multiplied from USD8.0 million in 2023. Revenue climbed 25% to USD183.0 million from USD146.3 million. Production costs fell 2.4% to USD80.7 million from USD82.7 million. Caledonia says the higher revenue reflects increased gold prices, with greater profitability aided by lower production costs at the Bilboes oxide mine. Looking ahead, the company says it has made a "strong start" to 2025, with production reaching 11,782 ounces by the end of February. It is focused on modernising operations to improve efficiency and continuing exploration activities. "2024 was a year of significant progress for Caledonia, both financially and operationally," Chief Executive Officer Mark Learmonth says. "Our financial performance benefited from a higher gold price environment, which resulted in a significant increase in gross profit and operating cashflows. Bilboes remains a highly attractive project, and we are confident that we will find the optimal development method to maximise returns for shareholders."
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Portmeirion Group PLC - Stoke-on-Trent, England-based ceramics maker and retailer of homeware brands - Says it swung to a pretax profit of GBP45,000 in 2024 from a loss of GBP8.5 million in 2023. Headline pretax profit fell 65% to GBP1.1 million from GBP3.0 million. The headline figure removes a GBP10.9 million impairment charge from the 2023 figure. The firm also faced restructuring costs of GBP1.0 million in 2024, up 47% from GBP694,000 in 2023. Revenue fell 11% to GBP91.2 million from GBP102.7 million, while operating costs were down 10% to GBP88.2 million from GBP97.9 million. Portmeirion says it faced a "much tougher consumer market" and a significant downturn in the South Korean market. No dividend was recommended for the full-year due to a "priority focus to reduce net debt". Company says 2025 has started positively with actions underway to strengthen operations. It expects a significant weighting towards the fourth quarter. "2024 was a disappointing year and our financial performance overshadowed good growth in our Spode brand and improved profitability in the US, our largest sales market," says Chief Executive Mike Raybould. "Action is being taken across our operations to position the business for sustainable future growth and we are moving forward with clear priorities to return our established markets to growth, strengthen our balance sheet, invest in our premium brands and develop new international markets."
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Artisanal Spirits Co PLC - Edinburgh, Scotland-based distiller of single-cask and limited-edition whiskies - Says pretax loss narrowed to GBP3.1 million in 2024 from GBP3.6 million in 2023. Revenue increased 0.4% to GBP23.6 million from GBP23.5 million. Selling and distribution expenses fell 18% to GBP5.1 million from GBP6.2 million. The firm says its membership increased by 4.1% to 42,700 from 41,000, with "notable UK growth" of 10%. It says the start of 2025 has been "strong", with double-digit revenue growth in the first quarter compared to the start of 2024, led by bottle sales in Europe. "Our ambition remains to create a high quality, highly profitable and cash generative, premium global business and we made good progress on achieving this during FY24, despite a backdrop of uncertain economic conditions in some markets," says Chief Executive Officer Andrew Dane. "Overall, we exit FY24 with a good set of results behind us, with a positive start to [the first quarter] meaning that we are on track to deliver further profitable growth and cash generation in FY25 and beyond."
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Bioventix PLC - London-based biotechnology company - Says pretax profit fell 3.7% to GBP5.0 million in the six months to the end of December from GBP5.2 million a year ago. Turnover increased 0.9% to GBP6.73 million from GBP6.68 million. Cost of sales rose 69% to GBP764,768 from GBP453,088. The firm says profitability fell due to an increased spend on research and development. Bioventix declared an interim dividend of 70.00 pence per share, up 2.9% from 68.00p a year ago. "Sales of our vitamin D antibody and other core antibodies were all more or less in line with last year's sales reflecting the mature nature of the diagnostic products that our antibodies support," says Chief Executive Officer Peter Harrison and Chair Ian Nicholson. "Our sales relating to troponin antibodies were steady and a little below our expectation."
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Mobile Streams PLC - London-based mobile gaming content provider - Pretax loss widens to GBP841,000 in the six months to the end of December from GBP300,000 a year ago. Revenue more than doubles to GBP415,000 from GBP169,000, while administrative expenses almost triple to GBP1.2 million from GBP414,000. The company says it is focused on the development of the sports betting and on-line casino platform in Mexico, where the revenue stream continues to grow. The higher loss is due to the scaling and focus of support in Mexico. It says it is on track to transition to operational profitability. "We are very pleased with the progress that the organisation has made in the past 6 months in the progression of the Mexican sports betting business and preparation of the consumer launch," says Chief Executive Officer Mark Epstein. The company says it has struck a deal to buy 74% of Estadio Gana, taking its interest in 100%. The transaction is payable in shares. It says the deal is the corner stone of its aim to "create a world class leading integrated sports, media and entertainment conglomerate focused on the Latin American region". The deal is classed as a reverse takeover and the company's shares have been suspended.
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Ikigai Ventures Ltd - special purpose acquisition company focused on Asia and Europe - Net loss narrows to GBP193,061 in six months to the end of December from GBP242,458 a year ago. Operational expenses fell 21% to GBP196,623 from GBP250,455. The company says 2024 has shown signs of recovery. It says it was "actively exploring numerous potential acquisition targets" in the second half of 2024. It says no agreements have yet been finalised. "Should we be unable to secure a suitable deal with one of the reviewed companies, we will continue our search for the right acquisition opportunity," says Chief Executive Officer Kane Black.
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By Michael Hennessey, Alliance News reporter
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Related Shares:
Caledonia MinPortmeirionArtisanal Sp.coBioventixMobile StreamsIkigai Ventures