23rd Apr 2025 14:23
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Northcoders Group PLC - Manchester-based software coding training provider - Swings to pretax profit of GBP388,864 during 2024, from a loss of GBP1.2 million in 2023. Revenue rises 24% to GBP8.8 million from GBP7.1 million, and total administrative expenses increase 10% to GBP5.5 million from GBP5.0 million. Adjusted earnings before interest, tax, depreciation and amortisation surge to GBP980,750 from GBP79,269. Individuals trained during the year increased 39% to 3,976 from 2,852 in 2023. "Despite a challenging hiring market, we are successfully diversifying revenues and increasing profitability within the group," says Chief Executive Officer Chris Hill. "Our growing curriculum of technology training courses, including in high demand areas like [artificial intelligence] and machine learning, is supporting the inherent scalability of the Northcoders business model...Looking ahead, FY25 has started promisingly. Whilst macro-economic challenges remain in the short term, we continue to be confident that, as the market improves, our quality training solutions and strategy will drive value for our shareholders."
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Pebble Beach Systems Group PLC - Surrey, England-based software company - Swings to a pretax loss of GBP1.3 million in 2024 from a GBP1.5 million profit in 2023, as revenue declines 7.3% to GBP11.5 million from GBP12.4 million, and research and development expenses multiply to GBP4.1 million from GBP1.7 million. The fall in revenue was driven by "challenging market conditions and delays in the anticipated timing of project orders", the company explains, with 45% of project orders received in December. Order intake for the year grew 24% to GBP13.6 million from GBP11.0 million. Looking ahead, Pebble Beach anticipates that cost savings initiatives and "strategic actions" made in the first quarter of 2025 will deliver annualised savings of around GBP2.0 million, which it expects will accelerate a reduction in net debt. "The potential for future growth, together with our expectation that improved cash generation will accelerate the repayment of our debt, means that the board remains confident in the company's ability to become a highly profitable business with a healthy cash position," says Non-Executive Chair John Varney. "This will put us in an excellent position to consider [mergers and acquisitions] investment, adding technology product offerings, and potentially paving the way for improving shareholder returns."
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Kelso Group Holdings PLC - investor in London-listed companies - Swings to a pretax loss of GBP553,329 in 2024 from GBP2.0 million in profit in 2023. The company reports negative revenue of GBP97,343 for the year, against GBP2.6 million in positive revenue the year prior. Net assets at December 31 are up 20% to GBP9.0 million from GBP7.5 million at the 2023 year-end, while net assets per share at December 31 remains unchanged at 2.4 pence. Chief Executive Officer John Goold says: "Following a successful first full year on market in 2023, 2024 has been more challenging as global sentiment to equities remains cautious and volatile. Despite this, we remain confident that the UK small and mid-cap market offers exceptional value, and that our experienced team is well-positioned to capitalise and outperform as market conditions improve. The board continues to patiently assess value creation ideas both for Kelso." All four of its active investment holdings - NCC Group PLC, THG PLC, Angling Direct PLC and TheWorks.co.uk PLC - implemented "strategic, value-enhancing changes during the year", Kelso added.
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Ten Lifestyle Group PLC - London-based customer loyalty platform for financial institutions - Pretax profit multiplies to GBP1.1 million during the six months that ended February 28 from GBP261,000 the year before. Revenue rises 2.4% to GBP34.1 million from GBP33.3 million, while cost of sales on principal member transactions are down 4.2% to GBP2.3 million from GBP2.4 million. During the six-month period, Ten Lifestyle won an "extra large" contract with an unnamed existing client in the US with an initial GBP5.0 million value, a "medium" contract in the Asia, Middle East and Africa region, as well as two other "initially small" contracts. "We continue to strengthen our market position through advancements in [artificial intelligence]-driven technology and our digital platform, helping win new contracts and driving margin, efficiency, scalability, and service quality. Alongside a robust sales pipeline and deep competitive moat, these investments position us for profitable growth," says Chief Executive Officer Alex Cheatle.
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Nostrum Oil & Gas PLC - Kazakhstan-focused oil and gas company - Pretax income declines to USD1.8 million from USD836.3 million, despite revenue growing 15% to USD137.1 million from USD119.6 million. This is due to a one-off gain on debt-to-equity exchange in 2023, which amounted to USD769.6 million. "In 2024 and early 2025, we continued driving value realisation by executing our mixed-asset energy strategy, achieving key milestones in upstream production growth, infrastructure utilisation, and financial stability," says Chief Executive Officer Arfan Khan. "Our operations delivered a 48% year-over-year increase in titled production volumes and nearly doubled our processed volumes, with processing facility availability averaging approximately 98% for the year." Looking ahead, Khan added: "Nostrum remains well-positioned to implement its mixed-asset strategy by taking the catalyst growth projects to the next level and building value for our investors and stakeholders." 2025 average daily production at the Chinarevskoye field is forecast between 5,500 to 6,500 barrels of oil equivalent per day, against 8,544 barrels in 2024, which was down 15% compared to 2023 production.
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Gresham House Energy Storage Fund PLC - London-based fund investing in utility-scale battery energy storage systems - Pretax loss widens to GBP115.9 million during 2024 from GBP110.1 million in 2023, as the fund delivers a negative income of GBP107.1 million against negative GBP100.1 million the year before. Total expenses for the year are reduced by 13% to GBP8.7 million from GBP10.0 million. Net asset value per share at December 31, 2024 was 109.35 pence, down 15% from 129.07p at the 2023 year-end. "Despite the challenges during 2024, we benefited from an improving trend from the second quarter and ended the year on a more positive note, posting over 50% growth in operational battery capacity," says Chair John Leggate. "We are confident the revenue backdrop will continue to improve over the medium term, given the government's support for [battery energy storage systems] in the context of rapidly rising renewable generation and significant efforts from [UK National Energy System Operator] to reduce skip rates. The combination of a greater operational portfolio base coupled with an improving merchant picture, a portion of which will be contracted over the longer term to protect against downside scenarios will drive a growing and more resilient business going forward." Upon refinancing of its existing debt, the company intends to reinitiate distributions to shareholders. It will provide further information on dividends and other capital allocation in due course.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Northcoders GrpPebble BeachKelso Grp HldgNccThgAngling DirectTheworks.co.uk.Ten LifeNostrum Oil&gasGresham House