Source - Alliance News

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


Gem Diamonds Ltd - diamond producer with diamond mining operations in Lesotho and Botswana - Reports 2022 revenue of $188.9 million, down 6.4% from $201.9 million in 2021. Attributes fall to lower volume of carats recovered. Pretax profit falls 29% to $30.4 million, from $42.9 million. Declares no dividend, compared to 2.7 US cents per share in 2021, due to volatile economic outlook. Chief Executive Clifford Elphick comments: ‘Demand for [the Letseng mine’s] large, high-value diamonds remains strong. The re-opening of China, the second largest diamond market, is expected to pave the way for a rapid rebound in economic activity, which bodes well for diamond prices in 2023.’


CloudCoCo Group PLC - London-based IT and communications for businesses and public sector - Reports 2022 revenue of £24.2 million, multiplying from £8.1 million in 2021, 67% of which was generated from recurring contracts. Pretax loss widens to £2.6 million, from £2.0 million a year ago, due to amortisation and depreciation costs. Loss per share 0.32 pence, narrowing from 0.42p loss in 2021. Says it is confident in delivering revenue growth and profitability in 2023.


Eurocell PLC - window, door and roofline PVC products firm - Says 2022 revenue is £381.2 million, increasing 12% from £339.8 million the year prior. Attributes increase to increased selling price and surcharges. Pretax profit is £26.2 million, down 5.4% from £27.7 million a year ago, reflecting reduced sales volume. Declares final dividend of 7.2p per share, up from 6.4p in 2021, bringing total dividend to 10.7p per share. Chief Executive Mark Kelly says: ‘For the current year, the latest construction industry forecasts recognise the currently challenging market conditions and ongoing macroeconomic uncertainty. However, we have acted swiftly on cost to prepare the business for 2023 and we expect our strategy to enable us to optimise performance in our markets.’


Capital Ltd - mining services company with operations in Canada, Africa and the Middle East - Reportes 2022 revenue of $290.3 million, increasing 28% from $226.8 million in 2021, driven by the ramp up of MSALABS assay business and new drilling contract wins. Pretax profit fell 60% to $32.6 million, from $82.0 million a year ago, due to the non-cash investment loss of $19.8 million. Declares final dividend of 2.6 US cents per share, up 8.3% from 2.4 US cents, bringing the total dividend to 3.9 US cents, from 3.6 US cents in 2021. Says expected revenue for 2023 is between $320 million and $340 million. ‘2022 has been another outstanding year for Capital marking the business’s third consecutive year of material growth, but most pleasingly Capital enters 2023 with an even stronger underlying business,’ Chair Jamie Boyton says.


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