1st May 2025 19:12
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Eleco PLC - London-based software provider focused on the construction and built environment sectors - Pretax profit grows 26% to GBP4.3 million in 2024 from GBP3.4 million in 2023, as revenue rises 16% to GBP32.4 million from GBP28.0 million. Proposes a final dividend of 0.70 pence per share, up 27% from 0.55p in 2023. This brings the total dividend for the year to 1.00p, up 25% from 0.80p. Adjusted earnings before interest, tax, depreciation and amortisation are 26% higher at GBP7.7 million from GBP6.1 million the year before. "The financial performance in the period has been ahead of market expectations for revenue, profitability, and cash generation," says Chief Executive Officer Jonathan Hunter. "We have built on this successful organic performance with the enhancement of our portfolio of building lifecycle product solutions. In 2024, the acquisition of the Vertical Digital group of companies brought agile and innovative software development, technical consulting, and upskilling capability to our software solutions. The post year-end acquisition of [PMI Software Ltd] then broadened our Asset Management capabilities and customer base. We remain confident that with the initiatives and investments we are making, Eleco will see a strong growth trajectory going forward, despite the present geopolitical and macroeconomic situation."
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Clean Power Hydrogen PLC - Doncaster, Yorkshire-based green hydrogen technology and manufacturing company - Pretax loss widens to GBP14.9 million in 2024 from GBP5.1 million in 2023, as the firm records one-off impairment losses of GBP9.1 million and one-off onerous contract losses of GBP538,000. Other operating income totals GBP334,000 against none the year before, and administrative expenses increase 5.6% to GBP5.7 million from GBP5.4 million. "2024 was a truly pivotal year for CPH2, marking our transition into a new phase of commercialisation and ending the year in the strongest position in the company's history. Our team's ability to overcome technical and engineering challenges has reinforced our confidence in the scalability of our technology, culminating in the successful [factory acceptance test] of the MFE110 in September - a historic milestone for CPH2," says Chief Executive Officer Jon Duffy. The firm expects the factory acceptance test for its MFE220 unit in the second half of 2025.
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Cambridge Cognition Holdings PLC - Cambridge, England-based brain health software - Pretax loss narrows to GBP1.7 million in 2024 from GBP3.5 million in 2023, despite revenue declining 24% to GBP10.3 million from GBP13.5 million. Total operating expenses are reduced by 31% to GBP10.0 million from GBP14.4 million. "2024 was a year of significant change for the group," says Chair Steven Powell. "We rebuilt the Commercial team and focused on increasing the Order Book. While continuing our focus on Clinical Studies and Academic Research, the strategic objective is now to generate additional income from both the Healthcare and Consumer Health & Wellness segments, both of which represent substantial addressable markets. The new financial year has started strongly and we are continuing our growth trajectory to achieve sustained growth in equity value." The firm expects its current order book to deliver GBP8.5 million in revenue during 2025, which will increase as new sales orders are contracted.
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Keystone Law Group PLC - London-based provider of legal services - Pretax profit grows 14% to GBP11.7 million in the year that ended January 31 from GBP10.3 million the year before, as revenue rises 11% to GBP97.7 million from GBP87.9 million. Declares a final dividend of 14.0 pence per share, bringing the total dividend for the year to 20.2p per share from 18.3p a year prior. Also proposes a special dividend of 15.0p per share. "I have been extremely pleased with Keystone's performance over the last financial year. Our quality focused recruitment strategy continues to pay dividends, making Keystone the premier platform law firm and the stand-out choice for the high-calibre talent we wish to attract and retain," says Chief Executive Officer James Knight. "Our focus on the delivery of excellence across the business continues to underpin our growth aspirations, alongside our commitment to maintaining our progressive dividend policy, which has now seen us return over GBP45 million to shareholders since our [initial public offering] in 2017." Looking ahead, Keystone remains confident in delivering on market expectations in financial 2026, citing a company-compiled consensus for GBP103.4 million in revenue and GBP12.8 million in adjusted pretax profit.
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Scottish Oriental Smaller Cos Trust PLC - investment firm focused on smaller Asian listed companies - Net asset value per share at February 28 is 334.86 pence, down 2.1% from 341.91p at August 31. NAV total return for the year is negative 1.2%, against a negative 5.6% return on the MSCI AC Asia ex Japan Small Cap Index and a positive 6.7% return on the MSCI AC Asia ex Japan Index. Swings to a pretax loss of GBP7.4 million from a GBP29.8 million gain in 2024. Declares a final dividend of 14.0p per share, as well as a special dividend of 8.0p. Sreevardhan Agarwal, from FSSA Investment Managers, says: "Subsequent to the reporting period, economic uncertainty has increased following the actions of the newly elected government in the United States of America. We don't pretend to know the end-result of the significant disruption to global trade and are not trying to predict such outcomes either. However, it is in times such as this that the conservative approach with which Scottish Oriental's portfolio is managed comes to the fore. We believe our holdings in market-leading businesses are likely to remain resilient through this period."
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Mkango Resources Ltd - Malawi-focused producer of recycled rare earth magnets, alloys, and oxides - Pretax loss narrows to USD564,521 in 2024 from USD4.2 million in 2023, as total expenses are reduced by 29% to USD3.2 million from USD4.5 million and the firm records a one-off GBP3.2 million reversal of contingent consideration.
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ICG-Longbow Senior Secured UK Property Debt Investments Ltd - investor in UK real estate debt - Pretax loss narrows to GBP3.3 million in the year that ended January 31 from GBP24.9 million the year before, as total expenses are reduced by 79% to GBP6.4 million from GBP29.8 million. Total income for the year declines 38% to GBP3.1 million from GBP5.0 million. Also records a GBP2.6 million ECL charge on loan capital, down from a GBP24.0 million charge a year prior. "The company continues to make slow but sure progress towards exiting its remaining positions in the light of market conditions which still provide headwinds for challenged assets," says ICG-Longbow. "These headwinds have increased over the past few weeks as investors in all asset classes try to take stock of the implications of US tariffs and the potential impact of global trade wars. The board, therefore, does not foresee any near term improvement in local market conditions and indeed have been concerned that such uncertainties appear to have added further delay to already protracted deal negotiations. However, the board remains hopeful that the investment manager's continued diligent management of the former RoyaleLife portfolio will lead to growing liquidity for that investment in the coming months."
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By Emily Parsons, Alliance News reporter
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