The following is a round-up of earnings updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Ten Lifestyle Group PLC - London-based lifestyle and travel services - Revenue in year to August 31 hits record £46.8 million, up 35% from £34.7 million. Pretax loss narrows to £3.8 million from £5.5 million. Active members on Ten’s platform up 36% to 275,000 from 203,000. ‘We expect demand and related revenue will continue to increase from existing active members and ’first time users’ from our eligible member base. Notwithstanding the impacts of economic conditions on individual member households, our corporate clients pay us to improve the engagement of their wealthiest customers, with banking corporate clients typically seeing improved profitability of these customers due to higher interest rates,’ Ten Lifestyle says. Says will meet board expectations in new financial year.
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Eckoh PLC - London-based secure payment and customer contact products - Says traded in line with expectations in first-half ended September 30. Revenue climbs by a third to £19.6 million from £14.7 million a year earlier. Pretax profit rises 23% to £2.9 million from £2.4 million. ‘These are a great set of results, showing the anticipated strong progress in key areas,’ Chief Executive Nik Philpot says. ‘The customer engagement industry is already facing new security challenges from the permanent shift towards greater remote working, and a deteriorating global economic environment is likely to only exacerbate the number of security threats. Organisations who ignore these risks do so at their potential reputational and financial peril. We believe our enhanced set of security solutions will not only help companies to address these issues but also drive significantly better performance from their customer engagement and increase customer satisfaction.’ Eckoh expects an annual outturn in line with market expectations. Revenue consensus stands at £40.3 million.
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Parkmead Group PLC - Netherlands and UK-focused gas explorer - Revenue in year ended June 30 more than triples to £12.1 million from £3.6 million. Parkmead says it benefitted from ‘continued strength in gas prices’. Gas prices continued to rise since June, it says, hitting €350 per megawatt hour in August, before ‘normalising’. Parkmead swings to a pretax profit of £4.0 million, a company record, from a £13.4 million loss. ‘Parkmead maintains its appetite for energy acquisitions. The group is well positioned, with a strong balance sheet, to capitalise on opportunities within in the sector,’ the company says.
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Equipmake Holdings PLC - UK manufacturer & developer of electrification products for electric vehicle drivetrains - Revenue from commercial and production contracts in year ended May 31 up 52% to £2.7 million from £1.8 million. Including grants, total revenue is up 2.9% to £3.7 million from £3.6 million. Pretax loss widens to £5.2 million from £1.6 million, as administrative expenses spike to £1.9 million from £1.0 million. It also posts share based payment charges of £574,227, against none a year prior. ‘While we remain mindful of challenges, we are encouraged by the level of demand and interest in both our core bus markets and the adjacent markets we are exploring. Equipmake continues to be well-positioned in these highly favourable markets, with strong electric vehicle market growth expected in line with the ongoing global decarbonisation movement,’ company adds.
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Cardiff Property PLC - property investment and development company focused on the Thames Valley in the south of England - Net asset value per share at September 30 year end rises 8.1% annually to £27.56 from £25.49. Lifts dividend by 11% to 20.5 pence per share from 18.5p. Pretax profit surges to £2.7 million from £1.3 million. Revenue, comprised of gross rental income, rose to £703,000 from £596,000. ‘During the financial year under review the Thames Valley property market saw a marked upturn in activity with new lettings and investment sales reaching pre-pandemic levels. The last few months have, however, seen a downturn in confidence following rising inflation worries and increases in interest rates and building costs,’ Chair Richard Wollenberg says. ‘Whilst the Thames Valley has historically remained resilient compared to the general market, the impact of current uncertainties cannot be underestimated.’
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