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EARNINGS UPDATES: Northcoders swings to profit; AB Dynamics ups payout

25th Apr 2023 14:54

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


Iofina PLC - London-based iodine producer - Posts revenue of USD42.2 million for 2022, up from USD39.0 million in 2021. Pretax profit increases by 96% to USD10.0 million from USD5.1 million, as operating profit increases by 85% to USD9.6 million from USD5.2 million. Adjusted earnings before interest, tax, deprecation and amortisation amount to USD11.5 million, up 65% from USD6.9 million. Chief Executive Officer Tom Becker says "2023 has started well in terms of production from our existing plants and corresponding sales, with the market remaining strong and the company on track to meet its H1 production targets".


Corero Network Security PLC - Amersham, Buckinghamshire-based distributed denial of service cyber defence solutions - Revenue for 2022 is USD20.1 million, down from USD20.9 million in 2021. Pretax profit falls to USD404,000 from USD1.4 million, as operating profit drops to USD676,000 from USD1.1 million a year earlier. Order intake, however, is up 13% to USD23.9 million from USD21.2 million. Looking ahead, says encouraged by the 2022 increase in new order intake, as it expects to grow its sales pipeline and revenue in 2023.


Northcoders Group PLC - Manchester-based software coding training provider - Posts revenue of GBP5.6 million for 2022, up 86% from GBP3.0 million in 2021. Swings to a pretax profit of GBP346,429 from a loss of GBP523,588. Notes "significant growth in demand with 8,470 applications in 2022 compared to 3,662 in 2021. Cost of sales rises to GBP1.7 million from GBP848,392. Looking ahead, says trading to date has been in line with expectations. "We expect further significant growth in the year ahead with the balance weighted to the second half of the year", the firm says.


AB Dynamics PLC - Bradford-on-Avon, Wiltshire-based testing systems and measurement products for the automotive market - Records revenue of GBP49.0 million for half-period ended on February 28, up 30% from GBP37.8 million a year before. However, pretax profit is down to GBP1.9 million from GBP2.3 million, as net finance expense is increased to GBP1.0 million from just GBP170,000 a year earlier. Declares an interim dividend of 1.94 pence each, up 10% from 1.76p a year prior. Looking ahead, says order book is solid, and keeps its expectations for 2023.


By Xindi Wei, Alliance News reporter

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