Source - Alliance News

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

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Science in Sport PLC - London-based sports nutrition company - In 2022, pretax loss widens to £10.6 million from £5.3 million the year prior as its cost of goods increase to £36.8 million from £31.2 million and it records £1.1 million in new facility transition costs compared to £125,000 the year prior. Revenue rises to £63.8 million from GPB62.5 million. Says this revenue figure was impacted by the closure of its Russian business, port congestion issues in the US and supply chain issues. Looking forward, says it is delivering a return to profitable growth year to date for 2023. Chief Executive Stephen Moon says: ‘In 2023, we are well set for profitable growth, as evidenced by sales growth over the last four months. Our retail business, domestically and internationally, is delivering profitable growth, and our Amazon business is performing significantly above the same period last year.’

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James Latham PLC - Hertfordshire-based distributor of timber, panels and decorative surfaces - Posts revenue of £408.4 million for the year ended on March 31, up 6.0% from £385.4 million the year before. Pretax profit, however, reduces to £44.5 million from £58.0 million, as gross profit decreases to £80.0 million from £91.5 million the year before. Selling and distribution costs rise to £24.2 million from £22.2 million the year before. Declares a final dividend of 20.8 pence per share, up 9.5% from 19.0p a year prior. This takes the total dividend for the year to 36.05p, up 7.6% from 33.5p a year prior. Looking ahead, says its challenge is to ‘navigate the business towards what is a more normal and realistic profit achievement which takes into account the market conditions we are operating in and the inflationary overhead pressures that all companies are facing’.

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Ascent Resources PLC - Latin America and Europe-focused energy and natural resources company - Records revenue of £581,000 for 2022, compared to none in 2021. Pretax loss widens to £41.9 million from just £2.0 million a year earlier, as it incurs impairment expenses of £39.7 million compared to none in 2021. Looking ahead, says it is well placed to complete its continuing ESG Metals business development activity during the 2023 financial year.

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Beacon Energy PLC - Germany-focused upstream oil & gas company - Pretax loss narrows to $1.1 million for 8 months ended on December 31, from $27.4 million in financial 2022, as the firm suffered an impairment loss of $23.9 million in financial 2022. Says in 2022, the firm ‘worked tirelessly to stabilise company’s financial position’. Looking ahead, the firm says it is now building material international upstream oil and gas business.

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