The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Marks Electrical Group PLC - Leicester-based electrical products retailer - Reports ‘record’ revenue of £80.5 million in financial year that ended March 31, up 44% from 56.0 million. Pretax profit, however, falls 47% to £3.8 million from £7.2 million. Total administrative expenses more than double to £12.3 million from £5.3 million. Proposes maiden final dividend of 0.67 pence per share. Marks floated on AIM back in November at a price of 110p. The stock has fallen 20% since then, trading at 91.44p on Wednesday afternoon in London.
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STM Group PLC - Isle of Man-based pensions and insurance administrator – Revenue in 2021 falls 6.8% to £22.4 million from £24.0 million in 2020. Pretax profit declines 41% to £1.2 million from £2.0 million. ‘Whilst our existing recurring revenue has held up well, it has been frustrating that the significant amount of work and change occurring in the background has not yet resulted in the improved margins or new business growth anticipated,’ Chief Executive Officer Alan Kentish says. Company also announces Nicole Coll plans to step down as chief financial officer in coming months after a handover. Starts search for new CFO.
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JPMorgan European Growth & Income PLC - investment trust offering exposure to blue-chip European equities, with stakes in firms such as Nestle SA and TotalEnergies SE - Reports net asset value per share of 100.5 pence at March 31 year-end. It was company’s first year-end with a single share structure. Prior to this, it had a Growth share class and an Income share class. Company’s restructuring came into effect on February 4, and its name was changed from JPMorgan European Investment Trust.
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Ramsdens Holdings PLC - Middlesbrough, England-based financial services provider and pawnbroker - Revenue in six months ended March 31 rises 51% to £29.3 million from £19.3 million a year earlier. Ramsdens swings to a pretax profit of £2.2 million from a £133,000 loss. ‘Trading following the period end has continued to improve. Foreign currency volumes have increased to approximately 85% of pre-pandemic levels, the pawnbroking loan book has continued to grow, the weight of precious metals purchased has increased, and retail jewellery has remained strong,’ it says. Declares 2.7 pence per share interim dividend, having not paid one a year prior.
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Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan, and Nigeria - Posts a drop in first-quarter profit. For three months to March 31, generates revenue of EGP1.2 billion, around £51.2 million, up from EGP1.1 billion in the first quarter last year, but pretax profit falls to EGP471.3 million from EGP522.3 million. Says patient numbers rise 12% to 2.6 million, but revenue per patient falls 12 to EGB422.
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Nexus Infrastructure PLC - Essex, England-based infrastructure services provider - Revenue in six months to March 31 rises 26% to £80.3 million from £63.7 million. Pretax profit, however, falls 27% to £952,000 from £1.3 million. Administrative expenses also climb 26% to £12.9 million from £10.2 million. Ups interim dividend by 66% yearly to 1.0 pence per share from 0.6p. Payout rise reflects first-half outturn and ‘confidence in the expected results for the financial year’.
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Intercede Group PLC - cybersecurity software firm with offices in the US state of Virginia and in Leicestershire, England - Revenue in year ended March 31 falls 9.5% to £9.9 million from £11.0 million a year earlier. Top-line figure is in line with revised expectations, with the year-on-year fall put down to ‘delays in closing large new opportunities’. ‘A return to normalised trading has taken longer than previously expected against a backdrop of continued Covid-19 restrictions,’ Intercede says. Pretax profit declines 71% to £323,000 from £1.1 million. Company notes it is ‘actively exploring buy-side M&A’ following appointment of corporate development head in summer 2021. ‘The board sees the value in taking time to ensure the right strategic fit to ensure scalability and accelerated revenue growth, whilst also pursuing a disciplined approach to deal pricing. Any future acquisition will aim to be earnings enhancing as well as increasing our ability to access a larger addressable market and/or provide an end-to-end offering to our customers,’ Intercede says.
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