Source - Alliance News

The following is a round-up of earnings reports by London-listed companies, issued on Tuesday and not separately reported by Alliance News:


Alumasc Group PLC - Kettering, England-based supplier of building and engineering products - Says pretax profit for the financial year to June 30 is up 27% to £12.0 million from £9.5 million the year before, as revenue increases by 15% to £89.4 million from £77.8 million. Operating profit rises by 25% to £12.7 million from £10.2 million the year before. Chief Executive Paul Hooper says: ‘These results mark a pivotal moment for Alumasc. With the disposal of Levolux on 26 August, we now have a simplified business model and can focus our energies on growing our core businesses, with their respected brands and significant market opportunities.’ Declares a final dividend of 6.65 pence per share, up 6.4% from 6.25p a year prior, bringing its total dividend to 10.0p, up 5.3% from 9.6p. Looking ahead, Alumasc says financial 2023 trading to date is robust with order books remaining strong, and believes its simplified business model provides confidence in the future.


PCI-PAL PLC - Suffolk, England-based provider of software-as-a-service allowing companies to take payments from customers - Posts revenue of £11.9 million for the financial year to June 30, up 62% from £7.4 million the year before. Pretax loss narrows by 26% to £3.1 million from £4.2 million, despite administrative expenses widening by 37% to £13.1 million from £9.5 million. Chief Executive James Barham says: ‘We have taken another step up in the last 12 months, reaching several financial milestones including £10 million [annual recurring revenue] from our true-cloud, SaaS subscription services. This continued progress against our plans is now creating further opportunity as we build more momentum in our expanded product vision, as we look to add further value layers to our existing compliance and secure payment solution suite.’ Cash amounts to £4.9 million at year-end compared to £7.5 million the year before. PCI-PAL says current financial year has started in line with expectations.


Echo Energy PLC - London-based energy company focused on Latin America - Posts revenue of $11.1 million for 2021, unchanged from a year ago. Pretax loss narrows by 24% to $11.7 million from $15.4 million, reflecting the expected trend toward recovery in 2022. Echo notes that production challenges remained despite oil prices increasing during the year, resulting in the flat revenue year-on-year. ‘With progress made on the ground operationally and supported by much higher prevailing commodity prices and premium pricing in gas contracts, the recently announced comprehensive restructuring and strengthening of our balance sheet, once completed, will ensure we have much firmer foundations for the business financially, and a platform from which we will be able to pursue the many opportunities that exist within our portfolio,’ Chief Executive Martin Hull says.


Jaywing PLC - Sheffield-based data-driven advertising and marketing agency - Posts revenue of £23.3 million for the financial year to March 31, up 16% from £20.2 million the year before, ‘demonstrating a strong recovery from the impact of Covid 19’, the company says. Pretax loss, however, widens to £6.6 million from £1.5 million. Administrative expenses skyrocket to £10.7 million from £2.5 million a year ago. Looking ahead, it believes there are significant opportunities for revenue in both of its key markets and this coupled with the restructured cost base gives confidence for the year ahead.


Inspired PLC - Preston, England-based energy advisory and sustainability services provider - Posts a surge in pretax profit to £2.4 million for the six months to June 30, from £935,000 a year earlier, as revenue rises by 24% to £40.4 million from £32.6 million. Says Energy Assurance Services trading remains in line with expectations during the period, with revenue of £18.4 million, up 2.8% from £17.9 million a year ago. Operating profit jumps significantly to £3.6 million from £1.5 million. Declares interim dividend of 0.13p per share, up from 0.12p the year prior. Expects to achieve its full-year expectations.


IQE PLC - Cardiff, Wales-based supplier of compound semiconductor wafer products and advanced material solutions - Posts revenue of £86.2 million for the six months to June 30, an increase of 8.4% from £79.5 million a year earlier in line with previous guidance. However, pretax loss widens to £8.5 million from £3.0 million. Net debt is £6.7 million as at June 30, compared to £5.8 million. Looking ahead, IQE reiterates full-year revenue guidance of low single digit percentage growth, as ‘strong photonics sales driven by 3D sensing VCSELs and emerging revenue in microLEDs offset a degree of anticipated, macro-driven, softness in wireless markets,’ it notes. It anticipates a similar adjusted earnings before interest, tax, depreciation and amortisation margin to 2021.


Pebble Beach Systems Group PLC - Weybridge, England-based firm provides content management software for broadcasters and video streaming services - Says revenue for the six months to June 30 is up 2.0% to £5.0 million from £4.9 million a year earlier. However, pretax profit is 72% lower at £278,000 from £1.0 million after £257,000 of non-recurring costs. Looking ahead, Pebble Beach says orders in the second half are forecast to be stronger than the first half.


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