The following is a round-up of earnings reported by London-listed companies on Thursday and not separately reported by Alliance News:
----------
Newbury Racecourse PLC - sporting and events venue in Berkshire, England - Revenue increases to £8.0 million in the first half of 2023 from £7.8 million a year earlier. Swings to pretax loss of £570,000 from a profit of £217,000. Cost of sales increase to £7.2 million from £6.3 million. ‘Trading for the first half of 2023 was as expected, despite raceday attendances falling below 2022 levels at the half-year. Compared with last year, our revenues have been stronger but rising costs and our commitment to prize money increases have had an impact on our profitability as anticipated,’ says Chair Dominic Burke.
----------
Sondrel Holdings PLC - Reading, England-based semiconductor company - Revenue in the first half of 2023 jumps 17% to £9.3 million from £8.0 million a year earlier, but pretax loss widens to £2.0 million from £1.5 million. Costs of sales rose to £8.2 million in the period from £5.6 million. Looking ahead, Sondrel noted continued momentum in the US with 15 potential customers in the pipeline. Confident full-year results will be in line with current market expectations. ‘I am pleased with our performance in the first half, notwithstanding increasingly challenging market conditions during the period. Significant progress was achieved in key areas that will grow our business in the medium term, namely the successful tapeouts of three designs, progress with our Tier 1 OEM automotive customer, real progress in the United States and increased customer production forecasts for our live ASIC projects in Europe,’ says Chief Executive Graham Curren. Also on Thursday, Sondrel provides an update to three of its ’application specific integrated circuits’ projects. It says the projects are now in progress, after notifying investors in August of delays. The projects all remain on schedule for the release to production, it adds.
----------
Kooth PLC - London-based digital mental health platform - Revenue in the six months ended June 30 rises 29% to £11.7 million from £9.0 million a year earlier. Annual recurring revenue rises 16% to £21.4 million from £18.5 million. Pretax loss widens to £1.7 million from £571,000. Costs of sales rose to £3.9 million from £2.9 million. Looking ahead, Kooth expects ‘significant opportunity’ in the US driven by the continued need from both US State governments and Medicaid payers to invest further in youth mental health. However, expects headwinds in the UK to remain, reflecting a focus on NHS cost saving and acute care backlog. It remains confident in delivering revenue for the full-year in line with revised market guidance of no less than £34 million.
----------
Red Capital PLC - Jersey-based acquisition company - Operating loss in the first half of 2023 widens to £103,333 from £96,630 a year earlier. Pretax loss widens to £100,961 from £96,510. ‘During the period, and post period end, Red has continued to pursue its investment and acquisition strategy and is currently assessing opportunities within its chosen sectors of interest,’ Red Capital says.
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
