The following is a round-up of earnings reports by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Andrews Sykes Group PLC - Wolverhampton-based heating and air-conditioning firm - Profits from hot summer in the UK and Europe. Pretax profit in the six months to June 30 rises 13% to £8.5 million from £7.6 million a year prior. Revenue climbs 6.2% to £37.9 million from £35.7 million, but cost of sales grows by just 1.8% to £15.3 million from £15.1 million. Declares 11.90 pence per share interim dividend, unchanged from a year ago. Announces 16.60p special dividend as well, versus none a year ago, but 30% lower than 23.70p two years ago. ‘The second half of the year has started resiliently with record temperatures in the UK and Europe positively impacting demand for the group’s air conditioning units and chillers. This increased summer demand leads management to be optimistic over the full year results. In the longer term, management remains optimistic that the business will continue to improve but are mindful of the current economic climate and the impact that heightened energy prices, inflation and recession risk can pose to the business and customer demand,’ Chair Jacques Murray says.
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Ceiba Investments Ltd - investment firm dedicated to investing in Cuba, with interests in the commercial and tourism real estate sectors - Net asset value at June 30 falls 3.4% to $1.12 per share from $1.16 at December 31, 2021. NAV total return is negative 3.5%, improved from negative 7.3% a year prior. ‘The outlook is good for the remainder of this year and into 2023 when Cuba’s tourism industry is expected to complete its full return to normal conditions,’ Ceiba states.
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Oriole Resources PLC - gold exploration company focused on Cameroon and Senegal - Pretax loss in the half-year to June 30 narrows to £392,000 from £871,000 a year prior. Reports £191,000 in other gains, versus a loss of £196,000. Chief Executive Officer Tim Livesey touts advancements in Cameroon and Senegal. Commenting on diamond drilling in Bibemi, north-eastern Cameroon, he says: ‘The diamond drilling campaigns at Bibemi have been a great success, with the majority of holes intersecting orogenic-type gold mineralisation and providing depth continuity to the multiple targets identified within the 12 kilometre-long surface expression’.
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Proton Motor Power Systems PLC - Newcastle-based producer of hydrogen fuel cells and electric hybrid systems - Operating loss in the six months that ended June 30 widens by 28% to £5.0 million from £3.9 million a year ago. Revenue grows 6.3% to £980,000 from £922,000. Administrative expenses increase by 29% to £5.4 million from £4.2 million a year ago. Company is confident in its medium-term outlook, Chair Helmut Gierse says.
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Roebuck Food Group PLC - Newry, Northern Ireland-based protein and product sourcing company - Swings to profit as revenue grows. Pretax profit in the half-year to June 30 stands at £196,000 compared to loss of £278,000 a year prior. Revenue climbs 14% to £12.5 million from £11.0 million, while cost of sales increase by 10% to £12.2 million from £10.9 million. Commenting on its dairy division, where pricing was up 32% on 8.4% more sales, firm says: ‘We expect a strong performance for the full year, mainly driven by higher dairy prices but also consistent performance across our main operating key performance indicators for production, pasture and animal health’.
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