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EARNINGS UPDATES: HC Slingsby profit falls, East Imperial loss narrows

2nd May 2023 17:22

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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HC Slingsby PLC - Shipley-based industrial and commercial equipment distributor - Reports pretax profit of GBP485,000 in the 12 months to December 31 compared to GBP822,000 a year prior while revenue grew to GBP21.6 million from GBP19.8 million. Pretax profit included exceptional gain of GBP500,000 relating to the increase in value of the freehold property at Baildon. No dividend was paid reflecting a prudent view to maintain cash resources. Reports first quarter sales in new financial year are 5% higher year-on-year although improved margins were offset by higher costs. This meant pretax profit in the quarter fell to GBP112,000 from GBP116,000. Notes the market remains remains competitive, and the board is cautious regarding the outlook. Adds inflationary pressures could impact on the group's gross margin and profits in 2023.

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Alpha Growth PLC - London-based financial advisory specialising in 'longevity assets' such as life insurance - Reports profit in the year to December 31 of GBP3.2 million including a gain of GBP4.1 million from an acquisition compared to a restated loss of GBP1.7 million a year before. Continues to target USD2 billion of assets under management by 2025. Says this strategy includes expanding life insurance activities and continuing with the growth of BlackOak Alpha Growth Fund and the Alpha Alternative Assets Fund.

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Beximco Pharmaceuticals Ltd - Dhaka-based generic pharmaceutical products and active pharmaceutical ingredients maker - Reports pretax profit in the financial third quarter to March 31 fell to GBP1.2 million from GBP1.6 million a year prior despite an increase in revenue to GBP9.6 million from GBP9.0 million. Earnings per share fell to 2.13 pence from 2.47p. Managing Director Nazmul Hassan says: "While the impact of macroeconomic headwinds on our bottom line persists, these financial results are testament to the company's growth strategy and highlight the underlying strength of the business."

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Aterian PLC - Morocco-focused metal exploration and development company - Reports pretax loss for the year to December 31 widened to GBP4.4 million from GBP1.4 million with loss per share more than doubled at 0.76 pence compared to LPS of 0.31p. Believes the outlook remains very positive. Encouraged by results from preliminary work on the recently acquired Moroccan projects and have identified a new rare-metal hosting pegmatite swarm in southern Rwanda with lithium potential. Feels the market fundamentals remain strong for the group.

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Aquila Energy Efficiency Trust PLC - London-based investment company focusing on small-to-medium-sized energy efficiency projects - Reports net asset value at December 31 fell to 95.23 pence from 97.38p a year prior. Declares a dividend of 3.5p compared to no payment before. Intends a greater focus on a smaller number of geographies, larger transactions, the establishment of partner relationships with a number of Energy Service Companies and an increase in dedicated resources by the Investment Adviser.

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East Imperial PLC - New Zealand-based tonic waters and mixers producer - Reports pretax loss in the year to December 31 narrowed to GBP3.7 million from GBP5.4 million a year prior while revenue climbed to GBP3.2 million from GBP2.8 million. Basic loss per share fell to 1.08 pence from 1.99p. Says sales were driven by growth in key established markets, off-trade, and direct-to-consumer channels. Adds fourth quarter momentum has continued into a strong start to 2023, with revenue for the first quarter up 41% year on year and overall case sales of 58,246, up 35% year-on-year, driven by the continued demand for ultra-premium products in key regions. In advanced discussions with potential debt funders to provide additional working capital to support ongoing expansion and says an announcement is expected imminently.

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Vulcan Industries PLC - London-based engineering services firm - Reports pretax loss in the 12 months to March 31 narrowed to GBP1.1 million from GBP1.4 million a year prior as revenue jumped to GBP1.2 million from GBP46,000. Basic loss per share fell to 0.18 pence from 0.40p. Continues to work on extending its portfolio of fabrication activities into the renewable energy sector and expects further projects to be brought into the company in due course.

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By Jeremy Cutler, Alliance News reporter

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