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TRADING UPDATES: Empresaria eyes annual operating profit to double

26th Jan 2023 14:36

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

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Empresaria Group PLC - Crawley, England-based specialist staffing company - Says 2022 net fee income is up 10% to GBP65.4 million from GBP59.5 million a year earlier, and up 8% in constant currency. Expects adjusted pretax profit to be in line with expectations. Says the first half of the year saw greater growth, "reflecting a strong recovery in client demand particularly for permanent placements". Looking ahead, expects to double adjusted operating profit to GBP20 million in the medium term.

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Accsys Technologies PLC - London-based wood building products manufacturer - In the nine months ended December 31, total group revenue is up 32% to EUR109 million from EUR83 million the year before, driven by "higher production at Arnhem facility", it says. Says customer demand for Accoya remains resilient, with a "visible fourth quarter customer order book despite some slowdown in the broader construction industry". Expects to target its previously stated target of nearly doubling underlying earnings before interest, depreciation and amortisation for the full year.

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Greencore Group PLC - Dublin-based convenience foods maker - For financial year 2023 to September 30, expects outturn to be at the lower end of current market expectations, due to lower than expected volumes from "the disruptive impact of continued industrial action on demand and operations and the expected lag on inflation recovery." Revenue in the first quarter ended December 30 is expected to reach GBP463.0 million, up 19% year-on-year driven by inflationary effects. Says that in its first quarter to December 31, profit conversion was behind management expectations, as a result of lower volumes and a lag in recovery of inflation over the calendar year end. Chief Executive Dalton Philips says: "It's a difficult, volatile market, and the business has got off to a slower start to the year than envisaged."

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Time Finance PLC - Bath, England-based finance provider to small & medium businesses - Posts revenue of GBP13.2 million for the six months ended November 30, up 12% from GBP11.8 million a year earlier. Pretax profit is up 67% to GBP2.0 million from GBP1.2 million. Own-Book lending origination is up 27% to GBP36.6 million from GBP28.9 million a year earlier. Says confident that full year trading will be significantly ahead of market expectations, with pretax profit now expected to be not less than GBP3.2 million.

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Best of the Best PLC - London-based operator of weekly online raffle competitions - Revenue in the six months that ended on October 31 is GBP13.7 million, down from GBP19.1 million a year earlier. Pretax profit falls to GBP2.7 million from GBP3.0 million, as gross profit drops to GBP8.2 million from GBP10.9 million a year earlier. Looking ahead, says it looks to the "medium and long term with confidence as we push towards a return to steady growth and trading since the period end has continued in line with our expectations".

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By Xindi Wei, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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