The following is a round-up of earnings by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Seplat Energy PLC - Lagos-based energy company focused on Nigeria - Posts tripled pretax profit in the half-year ended June 30. Pretax profit surges to $209.9 million from $62.1 million. Revenue climbs 71% to $527 million from $308.8 million. Declares interim dividend of 5 US cents, doubled from 2.5 US cents a year ago. Narrows production guidance to between 50,000 and 54,000 barrels of oil equivalent per day from 50,000 to to 60,000 it posted in April when it posted first quarter results.
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Forterra PLC - Northampton, England-based building product manufacturer - Pretax profit in half-year to June 30 grows 52% to £44.2 million from £29.1 million a year ago. Forterra revenue jumped 24% to £222.8 million from £180.3 million the year before. Declares 4.6 pence per share interim dividend, up 44% from 3.2p a year ago. Says first half trading was ahead of same period in pre-pandemic 2019. Brick volumes are up 3% on prior year and in line with 2019. Expects 2022 results to be slightly ahead of board’s previous expectations. Adds its new Desford brick factory is progressing to the timetable and on budget, expecting it to commission in late 2022.
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Metro Bank PLC - London-based challenger bank - Posts smaller loss on cost discipline. Pretax loss in half-year to June 30 narrows to £60.2 million from £106.2 million loss a year ago. Total income increased 6% to £236.5 million from £222.2 million the prior year while net interest income climbed 36% to £180.8 million from £133.3 million. Expects to break even during the first quarter of 2023. ‘The current inflationary environment is the highest we have witnessed in a generation however a tight cost discipline has helped us weather this headwind. A clear example of this is the action we have undertaken over the past couple of years to take advantage of the depressed commercial property market to buy the freeholds to a number of our stores,’ firm says.
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Restore PLC - Redhill, England-based document management and IT recycling business - Reports profit boosted by substantial growth in Digital and Information Management revenue. Pretax profit in the half-year to June 30 surges 58% to £14.1 million from £8.9 million a year ago. Revenue rises by 32% to £140.3 million from £106.1 million. Digital and Information Management division posts £24.6 million adjusted operating profit, up 31% from £18.8 million. Declares interim dividend of 2.6 pence versus 2.5p. Expects interest costs to be between £1.0 million and £2.0 million higher than previously thought due to rising interest rates. Expects to deliver ‘strong growth’ for 2022 as it adjusts prices based on inflation, offsetting cost increases.
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