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TRADING UPDATES: LifeSafe Holdings, Tissue Regenix see revenue growth

31st Jan 2023 21:38

(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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LifeSafe Holdings PLC - fire safety technology firm - Expects revenue for 2022 to be around GBP3.9 million which is above its previous expectation of between GBP3.5 million and GBP3.8 million, and above current market guidance of GBP3.7 million. Credits this to its innovative product range, and its effective marketing strategy across its consumer sales channels, with particularly strong growth in the US. Expects that its preliminary results will be published in the week starting April 17. "I am extremely pleased to report our second revenue upgrade since our listing last year, which provides a clear validation of the quality of our product and strength of our management team and marketing strategy. Trading in the new financial year has started well and we are increasingly confident that we will break into profit on a monthly basis by the end of this year," Chair Dominic Berger says.

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Uru Metals Ltd - Toronto-based investor and mine project developer - Net loss for the half-year period to September 30 narrows to USD436,000 from USD794,000 a year before. This is due to a listing expense of USD521,000 in the previous period. Reports a net loss of USD1.5 million for the financial year ended March 31, widened from USD651,000 a year prior, as administrative expenses widen from USD1.0 million versus USD651,000.

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Filtronic PLC - Leeds-based antenna maker - Wins a contract with a low earth orbit satellite communications equipment firm. The contract is valued in excess of GBP2.0 million, with revenue expected to be recognised in 2023. Says its half-year revenue rises 5% year-on-year to GBP8.4 million from GBP8.0 million. Notes that "strong demand" has carried through to the second half, which is reflected by the current order book of GBP17 million.

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Templeton Emerging Markets Investment Trust PLC - Edinburgh-based investment trust investing mainly in emerging markets companies - Reports that its multi-currency revolving facility agreement with Bank of Nova Scotia has been amended and restated. As of Tuesday, the debt facility is undrawn, it says. "The company's gearing policy currently permits debt of up to 20% of net asset value. The board has decided that renewing the debt facility to maintain the flexibility to use gearing when appropriate remains appropriate," Chair Paul Manduca comments.

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Proton Motor Power Systems PLC - Newcastle-based producer of hydrogen fuel cells and electric hybrid systems - Receives an order for a further 15 hydrogen fuel cell systems from GKN Hydrogen. "We are delighted to continue to support GKN Hydrogen in their drive to demonstrate the use of hydrogen as a means of storing energy from renewable resources and we look forward to expanding our relationship to support GKN Hydrogen's international sales," Chief Executive Faiz Nahab says.

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Tissue Regenix Group PLC - Leeds, England-based medical device company - Expects 2022 sales revenue of USD24.5 million, up 24% versus USD19.7 million in 2021. Achieves adjusted earnings before interest, tax, depreciation, and amortization for the fourth quarter of 2022 that align with its expectations. Reports that trading has been robust, "driven by the continued benefits of the commercial reorganisation of the dCELL segment". Cash and cash equivalents at year-end stood at USD5.9 million, down from USD7.7 million as at year-end in 2021. "Demand for our portfolio of products continued its trajectory of strong growth, resulting in the company's achievement of adjusted Ebitda profit for the fourth quarter of 2022. Furthermore, our additional capacity allows for new product launches, permitting us to provide a more comprehensive, diversified portfolio to our customers. Whilst our customers continue to work through supply chain issues and staffing shortages, the board remain confident for the year ahead. We look forward to continuing our sales growth momentum and building on our adjusted Ebitda profitable fourth quarter," CEO Daniel Lee comments.

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By Abby Amoakuh, Alliance News reporter

Comments and questions to [email protected]

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