18th Jul 2024 14:34
(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Sondrel Holdings PLC - Reading, England-based semiconductor design services firm - In 2023, pretax loss widens to GBP18.0 million from a restated GBP6.4 million loss a year prior. Revenue falls 45% to GBP9.4 million from GBP17.3 million. Cost of sales increases 39% to GBP21.8 million from GBP15.7 million. Rox Equity Partners Ltd offers additional GBP1.5 million if needed to supplement its GBP2 million investment. Recent GBP5.6 million fundraise provides greater liquidity going forward. Chair David Mitchard says: "Delays in both existing and expected new contracts meant that the second half of the year was extremely difficult with little revenue generated and trading losses recorded."
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Merit Group PLC - London-based data and intelligence business - In the financial year that ended March 31, the company swings to GBP884,000 pretax profit from a GBP3.7 million loss the year prior. Revenue grows 7.0% to GBP19.9 million from GBP18.6 million. Administrative expenses fall 38% to GBP7.9 million from GBP12.6 million. The company says whilst organic growth will fund investment in sales and marketing, it will impact financial 2025 margin performance with adjusted earnings before, interest, taxes, depreciation, and amortisation expected to fall 15%.
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Northern Bear PLC - Newcastle upon Tyne, England-based building services firm - In the financial year that ended March 31, pretax profit increases 10% to GBP2.1 million from GBP1.9 million a year before. Revenue falls 1.5% to GBP68.7 million from GBP69.7 million. Cost of sales reduces 5.3% to GBP52.8 million from GBP55.8 million. The company declares a final dividend of 2 pence per share, which follows a 4p per share ordinary dividend and a 1p special dividend for financial 2023. Going forward, investment in new organic growth ventures is expected to increase operating expenses by up to GBP300,000.
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Carclo PLC - Surrey, England-based provider of high-precision components - In the financial year that ended March 31, pretax loss widens to GBP3.8 million from GBP2.5 million. Revenue increases 7.5% to GBP132.7 million from GBP143.4 million. Finance expenses rise 52% to GBP6.0 million from GBP4.0 million as interest on bank loans and leases impacted by increases to base rates. Management successfully reduces net debt, which falls 14% to GBP29.5 million from GBP34.4 million. Margin expansion is expected to continue into financial 2026 following the implementation of operational optimisation processes. Chief Executive Officer Frank Doorenbosch says: "Looking to the future, our strategy will centre on reigniting our innovation engine. We will focus on enhancing product development, refining processes, and investing in our talented team."
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Creightons PLC - Peterborough, England-based brand owner and manufacturer of personal care products - In the financial year that ended March 31, the company swings to a GBP3.3 million pretax loss from GBP687,000 pretax profit previously, with a GBP4.4 million exceptional impairment reported. Revenue falls 9.2% to GBP53.2 million from GBP58.6 million. Creightons proposes 0.45 pence per share final dividend, up from nil last year. Management is now focused on increasing penetration into the private label sector and seeking new product ranges.
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By Elijah Dale, Alliance News reporter
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