The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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PensionBee Group PLC - London-based online pension services provider - Posts revenue of £17.7 million for 2022, up from 38% from £12.8 million in 2021. Pretax loss narrows to £22.4 million from £25.0 million. Assets under administration increase by 17% year-on-year to £3.0 billion from £2.6 billion in 2021, driven by strong ‘net flows’ from new and exiting customers. Chief Executive Officer Romi Savova says: ‘We are pleased to report strong full-year results for 2022, having exceeded £3 billion of assets under administration, despite the challenging global capital markets.’ Looking ahead, PensionBee says remains on track to achieve ongoing adjusted earnings before interest, tax, depreciation and amortisation profitability by the end of 2023 and to be profitable for the full year 2024.
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IOG PLC - North Sea-focused gas and infrastructure operator - Posts revenue of £75.4 million in 2022, compared to none in 2021. Pretax loss widens to £17.1 million from £2.4 million a year ago. Says loss reflects the impact of £52.6 million of asset impairments following the ‘very disappointing Southwark A2 well result’. Looking ahead, says lower-than-expected production following the Southwark A2 setback has created uncertainty over future cash flows.
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Gym Group PLC - low-cost gym chain operator - Warns it will take longer than thought for conditions to normalise after the Covid-19 pandemic. Membership numbers improve 8.4% from year-end to 890,000 at the end of February. That growth has slowed from 15% in the same time last year, however. Earnings for 2022 improve, with revenue 63% higher at £172.9 million from £106.0 million. Pretax loss narrows to £19.4 million from £44.2 million, as adjusted loss per share improves to 3.9p from 16.7p a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation is £71.3 million, up from £35.4 million in 2021. Looking ahead, Gym Group says it has seen an ‘uneven’ start to 2023.
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PYX Resources Ltd - Sydney-based zircon producer - Records revenue of $22.7 million for 2022, up 83% from $12.4 million in 2021, mainly due to a boost in ‘premium zircon, rutile and ilmenite production, increased sales volumes, and strong pricing’, it explains. Net loss before tax, however, widens to $9.3 million from $3.4 million, as cash cost of production increases to $17.3 million from $10.4 million. Says it expects to deliver further strong growth in 2023.
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