Source - Alliance News

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

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Mpac Group PLC - Tadcaster, England-based packaging and automation company - Expects to report calender 2022 revenue and underlying profit before tax in line with expectations. Says order intake in the second half of 2022 was significantly above the first half, reflecting the ‘resilience of the healthcare, and food and beverage end markets’. Ends 2022 with a closing order book of about £69.0 million, down from £78.4 million a year ago. Says it is well-placed for 2023.

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IQE PLC - Cardiff, Wales-based semiconductor wafer products - Expects to see some destocking in the wider semiconductor industry, which may hurt demand from its existing customers in the first half of 2023. Revenue for 2022, meanwhile, is expected to be 8% higher than the year prior when it stood at £154 million. The rise is anticipated ‘after accounting for the impact of provisions for a small number of doubtful debts and the re-phasing of revenue from one contract from the final quarter of 2022 to the first quarter of 2023’, it says. Constant currency revenue is expected to be broadly in line with the prior year.

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Ashtead Technology Holdings PLC - Aberdeenshire-based subsea equipment rental firm - Says the strong performance reported in the first half and third quarter ended December 31 has continued into the final quarter of the year as the company ‘benefits from the breadth of its asset base and service offering, and high levels of activity across both the offshore wind and oil and gas markets’. Full-year revenue is expected to be about £72.5 million, up 33% year-on-year. Expects adjusted earnings before interest, tax, depreciation and amortisation to be modestly ahead with adjusted Ebita comfortably ahead of market consensus.

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MJ Hudson Group PLC - asset-management consulting company - Says it continues to work on publishing financial 2022 results and will update shareholders as soon as it is in a position to do so. Gets a number of inbound indications of interest for certain divisions of the business. Says trading in all divisions continues. ‘The board is looking at areas to reduce costs as well as measures to strengthen the balance sheet and improve the free cash position,’ it says.

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