The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Hutchmed China Ltd - Hong Kong-based biopharmaceutical company - For the six months ended June 30, pretax loss widens to $200.6 million from $140.4 million a year prior, due to ballooning research costs related to the start of trials for combining the group’s own drug compounds with that of its collaboration partners. Revenue meanwhile increases 28% to $202.0 million from $157.4 million, as a result of commercial progress from Hutchmed’s three oncology drugs Elunate, Sulanda and Orpathys. In addition, Hutchmed announces the start of its bridging study of tazemetostat in patients with follicular lymphoma in China.
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Flowtech Fluidpower PLC - supplier of technical fluid power products - Reports total revenue of £57.5 million for the first half of 2022, up 12% versus £55.3 million the year before. Notes that its inventory levels are a key focus at the moment, in the face of supply chain issues. Expects a degree of ‘unwind’ of this position in the remainder of the year.
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James Halstead PLC - Manchester-based flooring products manufacturer - Expects its turnover for the year ended June 30 to be 9% to 10% higher compared to the previous year. Notes that increases in input costs, including energy, fuel or international freight rates, have hurt its margins. Says delays in increasing prices have further margins too. Says it was still able to pass costs onto the customers in all markets, either as price uplift or by delivery surcharges.
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Ingenta PLC - Oxford, England-based provider of software and services to the publishing industry - Expects to report revenue of roughly £5.3 million for the first half of 2022, reflecting an increase of 3.9% from £5.1 million a year before. Expects adjusted earnings before interest, taxes, depreciation, and amortization to surge to roughly £1.3 million from £750,000. Says its growth was driven by the expansion of its Managed Services offering. Anticipates its full-year results will be ‘comfortably’ in line with market expectations.
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EKF Diagnostics Holdings PLC - Cardiff-based diagnostics and central laboratory assay maker - Records unaudited revenue of £37.5 million for the first half of 2022, down from £38.6 million, year-on-year. Expects to report adjusted Ebitda is in line with management expectations. Remains on track to deliver full-year adjusted Ebitda in line with its expectations.
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Belvoir Group PLC - property franchise group - Says revenue during the six months to June 30 increased by 11% compared to 2021. Confirms it is trading in line with its own expectations for 2022.
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Nightcap PLC - London-based bar operator - Opens new Tonight Josephine cocktail bar venue in Bristol. Say it has 34 sites within its estate now and a further 22 premises under offer or in legal negotiations.
‘Bristol is a city we are getting to know really well and is a place where we continue to perform consistently well. Tonight Josephine is the third brand from within the group to open in Bristol, across four different sites. It is the first location outside of London where we are proving how well our different bar concepts can work alongside each other without cannibalising revenue,’ Chief Executive Sarah Willingham says.
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Symphony Environmental Technologies PLC - Borehamwood, Hertfordshire-based plastics and rubber - Records total revenue of £3.0 million in the six months to June 30, down from £4.9 million a year before. Blames the decrease on short term logistics and resource issues, which have been resolved. Expects to deliver strong revenue growth in second half. Remains confident of meeting its full-year market expectations.
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Journeo PLC - Leicestershire, England-based transport information systems and technical services - Records revenue of £8.9 million in the six months to June 30, up 23% compared to the same period a year before. Fleet Systems revenue increases by 31% in the period and Passenger Systems revenue increased by 15%. Wins new a contract at London’s Heathrow Airport with Transdev Airport Services worth roughly £900,000. Expects full-year results to be in line with current market expectations.
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NAHL Group PLC - Northamptonshire, England-based claims management - For the first half of 2022, revenue is expected to increase 6% to £20.8 million from £19.5 million, however, due to a planned investment in law firm National Accident Law, underlying operating profit is set to decline 8% to £2.3 million from £2.5 million. Looking further ahead, group is expected to meet market expectations for 2022.
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