29th Apr 2025 16:50
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Focusrite PLC - High Wycombe, England-based supplier of hardware and software used by professional and amateur musicians - Pretax profit declines 38% to GBP2.1 million in the six months that ended February 28, from GBP3.4 million in the six months to February 29, 2024. Revenue, on the other hand, grows 5.2% to GBP80.9 million from GBP76.9 million. Cost of sales increases 8.9% to GBP45.4 million from GBP41.7 million, while administrative expenses are up 6.6% to GBP32.5 million from GBP30.5 million. "After several years of volatility across our Content Creation sales channels, we are now seeing a return to more normal inventory levels, accompanied by sustained demand for our leading brands," says Chief Executive Officer Tim Carroll. Looking ahead, Carroll continues: "Macroeconomic uncertainties persist-particularly in our key US market- and we have responded swiftly to help mitigate these risks including inventory phasing, selective price increases and relocating manufacturing for certain product ranges...With new product launches planned for the next six months, as previously indicated we expect a greater weighting of sales in this period and will continue to focus on maximising gross margins. Given the current 90 day pause and tariff exemption window for certain products, we believe our expectations for the first 12 months of the current financial period remain realistic." Focusrite maintains its interim dividend at 2.1 pence.
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ICFG Ltd - investment company established to acquire businesses focused on improving the delivery and use of financial services in Asia, formerly known as Fintech Asia Ltd - Pretax loss widens to GBP4.0 million in 2024 from GBP3.4 million in 2023, as total expenses increase 18% to GBP4.0 million from GBP3.4 million. Total income for the year more than halves to GBP4,251 from GBP9,667. The company completed its reverse takeover of ICFG Pte Ltd, or InvesCore, in mid-February. "It is an exciting business that met the characteristics that the company were looking for to align our acquisition strategy and position the company well for the future to develop the business and seek further complimentary acquisitions", says ICFG.
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Panther Metals PLC - Canada-focused mineral deposits exploration company - Swings to a pretax loss of GBP2.2 million in 2024 from GBP269,184 in 2023, due to its swing to a GBP1.1 million loss on investments held for sale, compared to a GBP1.0 million gain a year prior. Panther Metals continues to report no revenue, while administrative expenses for the year nearly double to GBP821,926 from GBP454,330. Also logs a share-based payment charge of GBP153,991 in 2024, against a GBP76,856 charge in 2023, as well as a one-off termination expense for exploration projects of GBP180,462. Executive Chair Nicholas O'Reilly says: "We have now advanced our Dotted Lake and Obonga projects, beyond generative exploration to delineate multiple drill ready discovery and resource targets that now demand our focus...The company's positive trajectory is poised to accelerate as we investigate the dual listing of the company in Canada to leverage the advantageous critical minerals focussed Flow-Through tax exploration funding scheme for both Obonga and Dotted Lake."
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Touchstar PLC - Glasgow, Scotland-based supplier of mobile data computing solutions and managed services to a variety of industrial sectors - Pretax profit falls 43% to GBP388,000 in 2024 from GBP675,000 in 2023, as revenue declines 4.6% to GBP6.9 million from GBP7.2 million. This is principally due to a major order that was initially scheduled for delivery in 2024 now being scheduled for installation in 2025. Touchstar declares a total dividend of 3.0 pence for the year, up 20% from 2.5p the year before. Adjusted earnings before interest, depreciation and amortisation are down 14% to GBP1.2 million from GBP1.3 million. "2025 will be a year of internal transition," says Chair Ian Martin. "Significant changes are being made to the organisation, with opportunities to grow within the UK and overseas, enhance market position, cross-sell to the customer base, and enter new industry sectors." Touchstar expects its recurring revenue run rate to grow further in 2025, with 2024 recurring revenue increasing 4.5% to GBP3.1 million.
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LifeSafe Holdings - Essex, England-based fire safety technology developer - Pretax loss narrows to GBP1.1 million during 2024, from GBP2.2 million the year before. Revenue, on the other hand, declines 44% to GBP3.3 million from GBP5.9 million. Cost of sales are down 48% to GBP1.3 million from GBP2.5 million, and administrative expenses are reduced by 45% to GBP3.0 million from GBP5.5 million. "[2024] was a transitional year for LifeSafe leveraging the successful direct-to-consumer strategy in 2023 where the StaySafe All-in-1 became a bestseller on Amazon in the UK which was the catalyst to move to a wholesale model in the US. Consequently, we have reduced our costs by 43% per our stated strategy of moving the business to profit," says Chair Dominic Berger. "LifeSafe today is an established brand in the market and with the recent announcement of the Idex agreement we are looking forward to 2025 being the year we achieve a meaningful break out into the wider industry with our unique patented fluids and new products." LifeSafe at the end of March announced its agreement of an exclusive global distribution deal with Idex Fire & Safety, which is estimated to generate between GBP6 million and GBP8 million in revenue for LifeSafe over the next three years.
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By Emily Parsons, Alliance News reporter
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Lifesafe HldgTouchstar PlcPanther MetalsIcfg LimitedFocusrite