27th Sep 2024 19:53
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:
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Mulberry Group PLC - Bath, England-based maker of hand bags and other leather goods - Reports weaker annual earnings and announces a fundraise. Revenue in year ended March 30 down 4% to GBP152.8 million from GBP159.1 million. Swings to pretax loss of GBP34.1 million from profit of GBP13.2 million. "Positive revenue growth in the first six months of the period was offset by a challenging second half, with ongoing macro-economic uncertainty impacting consumer spending in the luxury retail sector," Mulberry says. For the 25 weeks since the end of the last financial year, revenue is down 18%. Andrea Baldo joined the board as CEO earlier this month. "I, along with the wider board have been highly impressed with Andrea's drive and tenacity in his first few weeks in post. We are confident in our long-term prospects as we move forward into this next chapter," Chair Chris Roberts says. In addition, Mulberry says it will raise GBP10.0 million from a subscription of share by majority shareholder Challice. The subscription is for 10.0 million shares at GBP1.00 each. In addition, it plans a retail offer to net another GBP750,000. "The net proceeds of the capital raising will be used to strengthen the group's balance sheet and provide financial flexibility to support plans being developed by Andrea Baldo, the new chief executive officer and the management team to return the business to profitability and drive future growth," Mulberry adds.
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Helios Underwriting PLC - investment company offering exposure to Lloyd’s of London insurance market - Gross written premiums in half-year to June 30 up 45% to GBP230 million, from GBP159 million a year prior. Pretax profit improves to GBP6.6 million from GBP6.3 million. "The Lloyd's Market continues to report excellent performance and the outlook for 2025 is also positive. Consequently, Helios will benefit from its outstanding pipeline profits generated from its spread Lloyd's syndicate portfolio," Helois says.
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Physiomics PLC - Abingdon, Oxfordshire-based mathematical modelling and data science for new medicines - Total income in year to June 30 falls to GBP570,561 from GBP605,734 a year prior. Pretax loss widens to GBP668,754 from GBP572,009. "Following a strategic review at the start of the year, the company has begun implementing the operating model changes necessary to position the business for growth. Even though these changes are yet to effect total income, which was down approx. 6% on the previous year, significant increases in other performance metrics were seen. The company achieved record levels of contract awards, with more than GBP1.1 million of new contracts signed during the financial year and a record level of contracted revenue (more than GBP500k) to be taken forward into the next financial year ending 30 June 2025. Additional revenue has also been contracted for the two years ended 2026 and 2027," it says.
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MicroSalt PLC - London-based producer of low-sodium salt products - Revenue in six months to June 30 falls to USD220,000 from USD257,000 a year prior. Pretax loss widens to GBP2.5 million from GBP1.7 million. Figures are first set of results since it floated in London in February. "The first half continued Microsalt's 2023 momentum, with its successful IPO, operational and R&D progress, and coupled with preparation for upcoming commercial B2B customer product launches. In addition to progress made in North America, our geographic outreach is expanding with inroads into Asia, Australia, South Africa, the UK, Germany, Canada and Latin America with a resultant boost to our sales pipeline. We look to the future with confidence in both our product range and health proposition," CEO Rick Guiney says.
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By Eric Cunha, Alliance News news editor
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