The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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AB Dynamics PLC - Bradford On Avon, Wiltshire-based testing systems and measurement products for automotive market - For the six months ended February 28, pretax profit rises sharply to £2.3 million from £690,000 the same period a year prior, as revenue grows 39% year-on-year to £37.8 million from £27.3 million, due to a continued improvement in order intake. Declares interim dividend of 1.76 pence per share, up 10% from 1.60p. Looking ahead, in spite of geopolitical uncertainty, AB Dynamics expects to post an annual performance ahead of market expectations.
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1Spatial PLC - Cambridge, England-based IT service management company - For the year ending January 31, swings to pretax profit of £220,000 from a loss of £1.1 million the year before, on revenue which grows 10% year-on-year on £27.0 million from £24.6 million, as a result of the winning of high value contracts, and the expansion of the company’s product offering. Says trading in new financial year has started well and in line with board expectations. ‘While cognisant of inflationary cost pressures, the board remains confident in delivering results for FY 2023 in line with current expectations,’ it says.
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Worldsec Ltd - South East Asia-focused investment company - For 2021, reports pretax profit of $636,000, down 33% from $944,000 the year before, due to lower net realised and unrealised gains on certain financial assets, in spite of 51% revenue growth to $145,000 from $96,000, through higher dividend income.
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Oakley Capital Investments Ltd - investment trust - For the three months ended March 31, reports a net asset value per share of 571 pence per share, as well as £38 million in new investments and gaining £64 million share from proceeds of divestments and refinancings.
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DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - For 2021, pretax loss widens to £3.3 million from £2.7 million the year before, on revenue which declines 23% year-on-year to £1.0 million from £1.3 million, due to the slippage of deals in the second half. Looking ahead, DeppMatter is signing up new partnerships through its new Smart Chemistry platform.
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Bidstack Group PLC - London-based in-game advertising platform - For 2021, pretax loss widens to £8.0 million from £7.0 million in 2020, due to higher administrative expenses, including regulatory and restructuring costs. This more than offsets a 53% rise in revenue year-on-year to £2.6 million from £1.7 million on a stronger brand count and publisher portfolio. Looking ahead, Bidstack has significant revenue visibility for 2022 and 2023, with contractually guaranteed minimum revenue of $30 million set to arise over the next 24 months. Revenue for 2022 is set to be higher than in 2021 but will remain mostly second half weighted.
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LMS Capital PLC - London-based investment company - As at March 31, net asset value per share rises 2.5% to 62.3 pence from 60.8p at the end of December, driven by unrealised gains on the mature investment portfolio and accrued interest income from the Dacian Petroleum investment. ‘The board is reviewing a number of opportunities with its real estate team, as well as further investment opportunities, but continues to take a cautious stance in the way the company’s resources are deployed,’ the company states.
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Yellow Cake PLC - Jersey-based investor in uranium - As at March 31, net asset value per share stands at 442 pence per share, comprising 15.8 million pounds of uranium valued at a spot price of $57.90 per pound. The value of uranium held by Yellow Cake increases 38% over the quarter to $916.7 million from $665.0 million at the end of December.
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Tlou Energy Ltd - power company focused on sub-Saharan Africa - Brings third well in Lesedi gas-to-power project in Botswana back online and in production of gas. In addition, company has received a 10 megawatt electricity generation licence from the Botswana Energy Regulatory Authority, which has a term of 15 years and is for the generation of power to Botswana Power Corp.
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Parity Group PLC - data and technology-focused recruiter - For 2021, pretax loss widens to £1.1 million from £325,000 in 2020, on net fee income which declines 26% to £4.1 million from £5.6 million and revenue down 19% to £47.0 million from £57.8 million. Parity attributed the weaker performance to a fall in contract recruitment revenue, as a result of the lack of capacity to pursue new business, alongside a decline in contractor numbers. ‘The response from colleagues has been tremendous; their inspiration, enthusiasm and hard work has helped us rapidly refocus the business and, combined with strong demand in Parity’s core markets, I believe we can re-establish growth and profitability in the near to medium term,’ said Executive Chair Mark Braund.
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Zambeef Products PLC - Zambia-focused cold chain foods and retail business - For the year ending September 30, revenue is expected to be 10% above market expectations, while adjusted pretax profit is set to be 15% to 25% ahead of current market expectations, as macroeconomic fundamentals stabilise and exchange rate remaining stable. The company is also set to benefit from higher soya bean prices.
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