Source - Alliance News

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

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Porvair PLC - Hampshire, England-based manufacturer focused on filtration and separation technology - Says it expects to deliver earnings ahead of market expectations. Net cash at November 30 was approximately £14 million. It also announces it has acquired the entire share capital of Belgian filtration business EFC for an undisclosed amount. Says EFC will join its Aerospace & Industrial division. EFC revenues for 2023 are expected to be around €10.5 million.

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Iomart Group PLC - Glasgow-based cloud computing company - Acquires Accesspoint Group Holdings Ltd for £4.5 million. Chief Executive Officer Lucy Dimes says: ‘We are delighted to welcome Accesspoint’s growing list of customers into the Iomart group and excited to be working with the full team to further advance Iomart’s differentiation in this sector and positively contribute to the group’s overall organic growth plans.’ Separately, reports revenue for the six months to September 30 grows by 18% to £62.0 million from £52.6 million the year before. Meanwhile, pretax profit falls 10% to £4.4 million from £4.9 million a year ago, as finance costs grow 67% to £2.0 million from £1.2 million year-on-year. Declares 1.94 pence per share interim dividend, unchanged from the first half of financial 2023. Looking ahead, says current trading is in line with expectations. Dimes says: ‘I’m pleased to report on another period of progress at Iomart. We continue to build on our existing strong foundations as a well-established and trusted service provider within the private cloud space, at the same time as extending our service offering across the wider and higher growth hybrid cloud market.’

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Aferian PLC - Cambridge, England-based business-to-business company - Expects to report revenue for the full year ended November 30 of around $47 million to $48 million the year before. In financial 2022, revenue was $91.1 million. It also forecasts adjusted earnings before interest, tax, depreciation and amortisation of around $1.6 million to $2.6 million. A year ago, it reported adjusted Ebitda of $14.6 million.

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Fintel PLC - Huddersfield, England-based technology and support provider for the retail financial services sector - Agrees to buy provider of financial adviser planning and research software, Synaptic Software for £3.5 million via technology platform, Fintel IQ. Says acquisition is due to complete in the coming months and is subject to regulatory approval. CEO Neil Stevens says: ‘Synaptic is an established adviser software and research business which complements and extends our current capabilities, and offers us positive synergistic opportunities for growth and value in the near term. This transaction will further cement our central market position as the provider of technology, research and consulting services to the adviser market.’

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Deltic Energy PLC - London-based natural resources investor focused on the Southern North Sea - Says Selene exploration well is on track to be drilled in the third quarter of 2024. Meanwhile, appraisal well planning is underway on the Pensacola discovery and is expected to be carried out in the first half of 2024.

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Water Intelligence PLC - London-based leak detection services company - Says in 10 months to October 31, revenue grows 5.7% year-on-year to 64.4 million from $60.9 million. Pretax profit in the 10-month period rises 11% to £6.8 million from £6.1 million the year before. Chair Patrick DeSouza says: ‘From an operational perspective, the Group has adjusted well during 2023 to inflationary and higher interest rate headwinds. We are achieving profit growth and increasing margins, as well as making investments for accelerating sales growth in 2024 and beyond. Moreover, we will be completing our Salesforce implementation during [the first quarter of] 2024 which will enable us to accelerate the growth of our national sales channels.’ Looking ahead, says it is confident in long-term growth prospects.

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