Source - Alliance News

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

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Cornerstone FS PLC - cloud-based payment provider - Says strong trading momentum sustained through the second half of 2022. Expects full-year revenue to be around £4.3 million, representing growth of 87% over 2021. ‘This reflects significant organic growth as well as the contribution from Capital Currencies Ltd and Pangea FX Ltd, which were acquired during the year’, the company explains. Says the revenue growth was driven by clients that the group ‘serves directly, which is expected to account for around 78% of total revenue’.

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Ilika PLC - Romsey, England-based solid-state battery technology company - Expects revenue of £200,000 for the six months that ended on October 31, unchanged from a year ago. Loss before interest, tax, depreciation and amortisation is expected at £4.5 million, compared to a loss of £2.7 million. Says Ebitda loss is expected to be about £9.0m for financial 2023. Hires Jason Stewart as its new chief financial officer, effective from January next year. Stewart is most recently the interim CFO at British luxury performance motor yacht brand Sunseeker International Ltd, where he ‘successfully managed the company through the COVID-19 crisis, managing costs and re-establishing production subsequent to the lockdown’. Expects revenue in financial 2024 and 2025 to be ‘materially lower than in previous forecasts’.

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Guild Esports PLC - London-based e-sports company - Promotes Chief Marketing Officer Jasmine Skee to the role of chief executive officer to ‘drive the next phase of the company’s growth’, effective from January 1. She succeeds Kal Hourd who has taken the personal decision to step down from the board and leave the company on the same date. Previously, Skee was the director of Propositions & Products at mobile telecoms company Three UK.

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Water Intelligence PLC - London-based leak detection services company - Says revenue increases by 38% to $54.9 million in the nine months that ended on September 30, from $39.7 million the year before. In 2021, revenue amounted to $54.5 million. Adjusted pretax profit rises by 7.7% to $7.0 million from $6.5 million the year before. Earnings before interest, tax, depreciation and amortisation is up 13% to $9.7 million from $8.6 million. Says it is on track to be at the upper end of expectations for revenue and to be in line with expectations regarding profit for 2022.

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Begbies Traynor Group PLC - Manchester-based corporate rescue and recovery practice - Posts expected revenue of £58.5 million for the six months ended on October 31, up 12% from £52.3 million the year before. Adjusted pretax profit is expected to rise by 13% to £9.0 million from £8.0 million. Notes segmental revenue growth of 10% in Business recovery & Financial advisory division, and a revenue growth of 18% in Property advisory & Transactional services division. Says confident of delivering expectations for financial 2022.

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