The following is a round-up of earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Intercede Group PLC - Leicestershire, England-based cybersecurity software firm - Reports £8.2 million in revenue for the six months ended September 30, down 3.9% from £8.5 million the year before. Decline is in line with expectations as announced in early October. Pretax profit drops 26% to £1.3 million from £1.7 million. Basic earnings per share decrease to 2.1 pence from 2.8p. Adjusted earnings before interest, tax, depreciation and amortisation, which also excludes property lease costs, fall 27% to £1.3 million from £1.8 million. Intercede believes it will meet current market forecasts for financial 2026, saying it understands market expectations for the year ending March 31 to be revenue of £18.7 million and adjusted pretax profit of £4.6 million. For financial 2025, it reported a pretax profit of £4.6 million and revenue of £17.7 million. Chair Royston Hoggarth comments: ‘Last year, I anticipated that following the UK budget and the conclusion of the US elections, macroeconomic conditions would stabilise. Unfortunately, that expectation has not materialised, yet, and global markets continue to experience volatility...The group has delivered resilient performance, remaining firmly aligned with its strategic objectives of diversifying revenue streams, profitability, and generating strong cash flows despite the unusual market delays experienced this period.’ He adds: ‘Looking ahead, we remain confident in our ability to execute our roadmap for product evolution, geographic expansion, and targeted acquisitions, delivering sustainable medium and long-term value for all stakeholders.’
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Software Circle PLC - Manchester, England-based vertical market software investor - Revenue for the six months ended September 30 rises 15% to £10.2 million from £8.9 million, but company swings to a pretax loss of £1.6 million from a £1.3 million profit. Operating Ebitda rises 33% to £3.1 million from £2.3 million, and adjusted Ebitda, which excludes central administration costs, increases 44% to £2.3 million from £1.5 million. Says the first half ‘marks an inflection point’ and that its ‘focus now shifts firmly’ to unlocking £15 million of annualised adjusted Ebitda ‘and building a group capable of sustaining its own growth through internally generated cash flow’. Software Circle expects annualised revenue of approximately £24 million and an adjusted Ebitda margin of approximately 25%. ‘Our pipeline is healthy, we remain disciplined on valuation and operational fit,’ the firm adds.
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Accsys Technologies PLC - London-based wood building products manufacturer - Group revenue for the six months ended September 30 rises 5.4% to €76.1 million from €72.2 million, ‘driven by a strong trading performance across all regions’, with group sales volumes rising 0.7% to 30,575 cubic metres from 30,372. Its underlying pretax loss narrows to €1.4 million from €5.4 million. ‘Accsys has delivered an excellent first half, with strong global Accoya sales volume growth and a significant improvement in profitability against a challenging macroeconomic backdrop,’ comments Chief Executive Officer Jelena Arsic van Os. ‘Our Accoya USA joint venture is showing rapid growth and positive momentum...Our results reflect disciplined execution with a clear commercial focus...The group enters the second half from a position of strength and confidence in delivering on our targets.’ Company expects the JV to be Ebitda positive for the full year with sales accelerating in North America. Expects group full-year adjusted Ebitda to be in line with its guidance.
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Electric Guitar PLC - London-based cash shell - Announces its annual results for the year ended March 31, while continuing to pursue its planned reverse takeover of Dunbar Energy. Electric Guitar, which in May 2024 acquired 3radical Ltd in an all-share reverse takeover, has £240,000 in net cash and £50,000 in other assets as of March 31, ‘having written off all its investment in its previous acquisitions’. The company, which is non-revenue generating, reports pretax loss of £1.9 million, widened from £1.4 million the year before. Also incurs an operating loss of £1.9 million, widened from £1.3 million. Acquisition costs decreased to £786,490 from £875,677 while ’Other costs’ jumped to £1.1 million from £447,547. Company notes that trading in its shares was suspended in November last year ‘following a sudden downturn in 3radical’s trading projections and a lack of sufficient alternative funding, and 3radical was placed into administration’.
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Nostrum Oil & Gas PLC - operates gas processing facilities and export hub in north-west Kazakhstan - Reports $85.5 million in revenue for the nine months ended September 30, down from $101.4 million the previous year. Says the positive impact of increased titled production and processed volumes from Ural Oil & Gas LLP feedstock, and continued well workovers, was offset by natural production decline at the Chinarevskoye field and a 14% decrease in the average Brent crude oil price to $70.95 per barrel from $82.6/bbl. Pretax loss widens to $106.8 million from $71.2 million. Total revenue for the third quarter decreases to $21.4 million from $36.1 million, and the pretax loss widens to $44.7 million from $25.5 million. Ebitda decreases for the nine months to $26.8 million from $34.7 million the year before, ‘complemented by a 28% reduction in operating expenses per barrel processed, which reflects our improved processing efficiencies and growth in third-party volume processing,’ Chief Executive Officer Viktor Gladun says. He adds: ‘Additionally, we maintained a strong liquidity position, with net positive operating cash flow over the nine months of $21.6 million before one-off items and unrestricted cash of $147.3 million as of the period end. These results highlight the stability of our operations and the reliability of our infrastructure.’
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Seraphim Space Investment Trust PLC - space technology-focused investor - Net asset value per share rises 0.9% to 119.55 pence as of September 30, the end of its first quarter, from 118.52p three months prior. Portfolio valuation increases 1.9% on-quarter to £264.7 million from £259.8 million. Company has £19.4 million in cash reserves, down from £21.5 million, but ‘with a potential £8.7m of additional liquidity via holdings in listed companies’. ‘The space investment sector continues to accelerate at an unprecedented rate, with record funding and a maturing ecosystem where capital is spread across multiple growth segments,’ comments Chair Will Whitehorn. ‘This expansion is being driven by significant government initiatives in the US, China and Europe...where the SSIT portfolio is positioned to capture market share. This momentum will continue to grow into next year, fuelled by the rollout of commercial satellite networks and increased government procurement, creating substantial opportunities for dual-use technologies in these markets.’
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IntelliAM AI PLC - South Yorkshire, England-based provider of AI-driven software solutions for the manufacturing and engineering sectors - Group revenue for the six months ended September 30 more than doubles on-year to £2.4 million from £927,080. Pretax loss widens to £886,896 from £482,301. Administrative expenses increase to £1.9 million from £718,003. Its main expenses were headcount-related, ‘but we also saw a rise in marketing initiatives’. Company says that the first-half outturn was in line with its forecasts, so it ‘remains confident in achieving targets set out at the year end, considering the expected acceleration in H2.’ IntelliAM continues: ‘Our confidence is based on a full half year of product availability, our pipeline from the Connected Summit with existing customers as well as expected new customer wins. Due to the strength of our existing customer base we have strong visibility into our pipeline.’ CEO Tom Clayton comments: ‘We are pleased with the strong progress made in the first half as we continue to execute against our strategic goals...As our customer base grows, we are seeing customers invest more heavily in our AI solutions.’
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