21st Sep 2023 13:50
(Alliance News) - The following is a round-up of earnings reported by London-listed companies on Thursday and not separately reported by Alliance News:
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Newbury Racecourse PLC - sporting and events venue in Berkshire, England - Revenue increases to GBP8.0 million in the first half of 2023 from GBP7.8 million a year earlier. Swings to pretax loss of GBP570,000 from a profit of GBP217,000. Cost of sales increase to GBP7.2 million from GBP6.3 million. "Trading for the first half of 2023 was as expected, despite raceday attendances falling below 2022 levels at the half-year. Compared with last year, our revenues have been stronger but rising costs and our commitment to prize money increases have had an impact on our profitability as anticipated," says Chair Dominic Burke.
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Sondrel Holdings PLC - Reading, England-based semiconductor company - Revenue in the first half of 2023 jumps 17% to GBP9.3 million from GBP8.0 million a year earlier, but pretax loss widens to GBP2.0 million from GBP1.5 million. Costs of sales rose to GBP8.2 million in the period from GBP5.6 million. Looking ahead, Sondrel noted continued momentum in the US with 15 potential customers in the pipeline. Confident full-year results will be in line with current market expectations. "I am pleased with our performance in the first half, notwithstanding increasingly challenging market conditions during the period. Significant progress was achieved in key areas that will grow our business in the medium term, namely the successful tapeouts of three designs, progress with our Tier 1 OEM automotive customer, real progress in the United States and increased customer production forecasts for our live ASIC projects in Europe," says Chief Executive Graham Curren. Also on Thursday, Sondrel provides an update to three of its 'application specific integrated circuits' projects. It says the projects are now in progress, after notifying investors in August of delays. The projects all remain on schedule for the release to production, it adds.
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Kooth PLC - London-based digital mental health platform - Revenue in the six months ended June 30 rises 29% to GBP11.7 million from GBP9.0 million a year earlier. Annual recurring revenue rises 16% to GBP21.4 million from GBP18.5 million. Pretax loss widens to GBP1.7 million from GBP571,000. Costs of sales rose to GBP3.9 million from GBP2.9 million. Looking ahead, Kooth expects "significant opportunity" in the US driven by the continued need from both US State governments and Medicaid payers to invest further in youth mental health. However, expects headwinds in the UK to remain, reflecting a focus on NHS cost saving and acute care backlog. It remains confident in delivering revenue for the full-year in line with revised market guidance of no less than GBP34 million.
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Red Capital PLC - Jersey-based acquisition company - Operating loss in the first half of 2023 widens to GBP103,333 from GBP96,630 a year earlier. Pretax loss widens to GBP100,961 from GBP96,510. "During the period, and post period end, Red has continued to pursue its investment and acquisition strategy and is currently assessing opportunities within its chosen sectors of interest," Red Capital says.
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By Sophie Rose, Alliance News reporter
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