29th May 2025 11:56
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Watkin Jones PLC - student accommodation developer and manager - Watkin Jones swings to a pretax loss of GBP918,000 in the six months to March 31, from profit of GBP2.1 million a year prior. Revenue falls 26% to GBP129.2 million from GBP175.1 million. "Trading in the first half was in line with our expectations, despite the continuing challenging market backdrop, as a result of our focus on operational delivery, cost management and cash generation. Our in-build schemes continue to trade in line with our previous guidance, and the two new development partnerships secured in the period demonstrate our ability to be proactive and innovative in deploying our market-leading skills and experience in constructing and refurbishing residential for rent real estate," Chief Executive Officer Alex Pease says. "We continue to actively market and engage with investors on our development opportunities which are attracting interest, supported by the attractive fundamentals of the purpose-built student accommodation and build to rent sectors in which we operate. Whilst transactional activity remains slow and subject to a continuing volatile market backdrop, we are focused on ensuring that the group remains in the best position to exploit opportunities as conditions improve."
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Braemar PLC - provider of investment, chartering and risk management advice to shipping and energy markets - Pretax profit in year ended February 28 improves 23% to GBP9.2 million from GBP7.5 million, though revenue declines 7.1% to GBP141.9 million from GBP152.8 million. Aiding its bottom line, the total operating expense falls 9.0% to GBP130.9 million from GBP143.8 million. "Our solid overall performance shows our strategy is working. As market conditions became more challenging in the second half, we have seen the benefits of the work we have done in recent years to build a business with a more diversified revenue base. This underpins our confidence in producing sustainable returns through the shipping cycle and our future growth targets," CEO James Gundy says. Braemar lowers its final dividend by 72% to 2.5p per share from 9.0p. Its total dividend is 46% lower at 7.0p from 13.0p. "While the company will continue to pay a dividend in line with our updated capital allocation framework, it will reduce the dividend to a level that the board believes remains attractive and will use surplus capital to purchase (and then cancel) its own company shares," Braemar says. "For this year, cash saved from a reduced dividend will support a share buyback programme of up to GBP2 million." It has instructed broker Canaccord Genuity Ltd to conduct the buyback. It begins Thursday and ends no later than September 30.
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Adnams PLC - Suffolk, England-based brewer - The company's pretax loss in 2024 narrows to GBP2.8 million from GBP4.1 million in 2023. Revenue improves 2.6% to GBP68.1 million from GBP66.3 million. The earnings improvement came despite "very challenging market conditions". "Revenue grew in all parts of the business on a like for like basis, with the exception of Retail, where trading conditions on the high street remained challenging," Adnams says.
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Cooks Coffee Co Ltd - Auckland, New Zealand-based coffee chain - Swings to profit and revenue rises in the year to March 31. Cooks reports a pretax profit of NZD859,000, around GBP380,538, from a loss of GBP356,000 the year prior. Revenue surges 44% to NZD6.7 million from NZD4.7 million. "FY25 has marked a pivotal step forward for our business, we have not only delivered strong financial results but also outperformed the broader industry by a significant margin. These results reflect the strength of our franchise model, our focus on community-driven locations like market towns and suburban hubs, and our commitment to quality," CEO Aiden Keegan says. "The focus on market towns, housing developments and suburban locations has been an important contributor along with the focus on organic coffee products and an enhanced food offering with local sourcing where possible, delivered by local owners of the franchised stores."
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Beowulf Mining PLC - Nordic-focused mineral resource developer - Pretax loss in first quarter of 2025 widens slightly to GBP450,276 from GBP429,825. Reports no revenue, unchanged on-year. Administrative expenses rise 11% to GBP440,914 from GBP397,823.
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CEPS PLC - buys majority stakes in "profitable and steadily growing entrepreneurial UK companies" - Pretax profit in 2024 falls 3.4% to GBP1.7 million from GBP1.8 million. Revenue, however, rises 6.3% to GBP31.6 million from GBP29.87 million. In 2023, it saw GBP137,000 worth of exceptional income, compared to expenses of GBP37,000 this time. Administration expenses rise 7.4% to GBP10.8 million. "Going forward in 2025 we are hopeful that the anticipated decline in inflation during Q4 will lead to a steady, but regular, reduction in interest rates. Historically, this type of environment has been very positive for small company trading performance, confidence and ultimately share prices," CEPS says.
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Shires Income PLC - investor with "diversified portfolio" consisting mainly of UK equities - Net asset value at March 31 year end increases 3.6% to 265.23 pence from 256.00p the year prior. NAV total return rises to 9.4% in financial 2024, from 5.1% the year earlier. However, it lags the benchmark index total return of just under 11%. The company's benchmark is the FTSE All-Share Index. Shires ups its final dividend by 37% to 5.20p per share from 4.80p. It means its total dividend amounts to 14.80p per share, up 2.8% from 14.40p.
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ProBiotix Health PLC - Wakefield, England-based life sciences business - Pretax loss in 2024 widens to GBP852,000 from GBP762,000 in 2023. Revenue improves 13% to GBP1.9 million from GBP1.7 million. "The current year has started strongly, with a record order book, significantly ahead of 2024. The robustness of the sales project pipeline has increased further with new product launches planned this year in North America and Europe. We feel confident about the continuing positive development of the company in 2025, enabling a move to reach break-even," CEO Steen Andersen says.
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By Eric Cunha, Alliance News news editor
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Related Shares:
CepsWatkin JonesBraemar ShippingBeowulfShires Inc.