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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Kin & Carta PLC - London-based business consultancy - Says trading performance continues to improve, with net revenue in first half ended January 31 of £85 million, up sharply from £52.5 million a year ago. Adjusted operating margin strengthened to 7% from 3%. Says it is continuing to capture strong demand for its services and now expects full-year organic net revenue growth from continuing operations of around 35% to 40%, up from previous guidance of around 30%. The firm held its margin guidance. ‘As in previous years, our second half is expected to show a stronger performance with higher net revenue levels and improving operating margins,’ says Chief Executive J Schwan. Shares rise 11% on Thursday in London.
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S&U PLC - motor finance and property bridging lender - Says pretax profit for financial year ended January 31 to be ahead of consensus forecasts and expects 2022 to gradually see a full rebound to normal motor sales conditions. In Motor Finance, pretax profit set to more than double on last year’s £17.2 million, while in Property Bridging, credit quality remains strong with continued low levels of default. Recommends second interim dividend for year of 36p, up from 25p a year before. ‘Although exceptional factors have benefited the group’s profitability this year, in the years to come the ongoing quality of our customer lending, the strength of our finances and our investment in the growth of our routes to market will underpin S&U’s return to the levels and rates of profit growth experienced before the pandemic,’ says Chair Anthony Coombs. Shares rise 4.4% on Thursday.
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Solid State PLC - Redditch, England-based electronic components manufacturer - Now expects to report revenue for financial year ending March 31 slightly ahead of current consensus expectations of at least £80 million, versus analyst forecasts of £78.4 million, while adjusted pretax profit is seen ‘well ahead’. Current consensus for profit stands at £5.9 million, the firm notes. Says order intake remains strong with record open order book as at January 31. Notes global supply chain issues present challenges, but is mitigating these risks through order management and strong cash generation.
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Goldplat PLC - gold recovery operations in South Africa and Ghana - Says two recovery operations achieved a strong combined operating profit of £2.4 million for second quarter ended December 31, up from £1.6 million a year ago. Both Ghana and South African operations see profit increase. ‘I am pleased with the continued strong operating results from both recovery operations. Apart from our continuing focus on sourcing material for our operations and maximising recoveries from material received, management continues to focus on ways to leverage our unique skillsets and infrastructure, to diversify the materials and elements we can process economically, specifically PGM’s,’ says Chief Executive Werner Klingenberg.
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Silver Bullet Data Services Group PLC - London-based provider of digital transformation services and products - Reports some new contract wins. Through its long-term partnership with Treasure Data, wins two new contracts. Says one contract is with a global hospitality brand, to manage the integration and implementation of their chosen customer data platform, and the second with a Japanese multinational conglomerate which is continuing its partnership with Silver Bullet. Also wins contracts with leading Swiss beverage maker from partnership with Salesforce and signs a new contract with RSMB, a TV audience research company. Adds it has had two contract renewals, one with a global beverage company to expand into a new territory in Mexico and the second with a UK broadcaster.
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Gusbourne PLC - producer of sparkling wines from grapes grown in vineyards in Kent and West Sussex, England - Net revenue for 2021 to almost double to £4.1 million from £2.1 million in 2020, and move further above pre-virus levels of £1.7 million. Reports significant growth in UK trade sales as sector rebounded from Covid, while direct-to-consumer operations also perform well, driven by online sales and cellar door operations in Kent.
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Dekel Agri-Vision PLC - West Africa-based agriculture company - Reports 20% increase in January crude palm oil production year-on-year from Ayenouan project in Ivory Coast. Notes all-time record prices of €995 per tonne of crude palm oil achieved last month, and says record sales revenue to be achieved for January. Production from cashew project continued at approximately 15% of production capacity in January
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Jadestone Energy PLC - oil and gas assets in Australia, Malaysia, Indonesia, Vietnam and the Philippines - Says 2022 production to average 15,500 to 18,500 barrels of oil equivalent per day, up 36% on 2021, with the vast majority oil. Capital expenditure guidance set at $90 to $105 million, comprising mainly the Stag infill programme, which develops two million barrels of reserves, and the first phase of the Akatara gas project, which is expected to be sanctioned during the first half. Is committed to paying 2022 cash dividend. ‘based on our spending forecasts, we expect to generate material incremental cash in 2022 at current oil prices and premiums, and as a result, an increase in shareholder returns, either through increased dividends and/or share buy-backs, may be considered later in the year,’ says President & Chief Executive Paul Blakeley.
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Pittards PLC - Yeovil, Somerset-based leather and leather goods producer - Says revenue in 2021 up 30% to £19.8 million from £15.2 million in 2020, and return to profitability of £500,000 after loss of £2.3 million. Returned to profit despite supply chain disruption, and said these issues led to decision to increase raw material inventory. Remains cautious on short-term but expects further improvement in sales and profit in 2022, notwithstanding global inflationary pressures, particularly surrounding energy, and input costs.
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Gowin New Energy Group Limited - China-based lighting products retailer also focused on tea business - Says it has been presented with opportunity to start trading in high quality agarwood products, including agarwood incense which is widely used in religious ceremonies in Taiwan, and essential oil. Plans to launch initial trial phase to coincide with the upcoming traditional Chinese festivals, starting in mid-February. Should trial be successful, plans to develop a sustainable agarwood trading business.
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