The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Tracsis PLC- Leeds-based traffic and transportation data services firm - Pretax profit in the financial year that ended July 31 falls 43% to £2.6 million from £4.6 million a year prior. Revenue jumps to £68.7 million from £50.2 million. The company says drop in profit reflects increase in fair value of contingent consideration following strong underlying trading performance by 2019 acquisition Bellvedi, as well as transaction costs associated with acquisitions. Tracsis says it is well positioned to deliver further revenue growth in the coming year. Declares a total dividend of 2.0 pence, versus no dividend last year.
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Esken Ltd - London-based aviation services and renewable energy company - Pretax loss for the six months that ended August 31 widens to £12.7 million from £12.5 million a year prior. Total revenue increases by 13% to £58.1 million from £51.7 million. Based on these results, Esken revises its annual guidance for earnings before interest, tax, depreciation and amortisation to £22 million, tightened from previous guidance for Ebitda in excess of that figure.
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Smiths News PLC - Swindon, England-based newspaper and magazine wholesaler - Pretax profit in the financial year that ended August 27 falls 8.8% to £27.9 million from £30.6 million a year prior. Revenue falls by 1.8% to £1.09 billion from £1.11 billion. The company reduces bank net debt to £14.2 million. Says it performed ahead of market expectations by focusing on cost efficiency. Hikes full-year dividend to 4.15p, up from 1.65p a year ago. Chief Executive Officer Jonathan Bunting says: ‘Despite clear and obvious pressures in the wider economy we have maintained our focus, delivering results ahead of expectations...The increased dividend is in line with our goal of meeting the interests of all stakeholders and reflects our confidence in our markets and the determined capability of our people.’
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Gelion PLC - Sydney-based battery cell developer - Pretax loss in the financial year that ended June 30 balloons to £9.2 million from £1.8 million a year prior. Income grows to £1.7 million from £1.6 million. Research and development costs widen to £3.0 million from £1.9 million, while listing and associated costs rise to £4.7 million versus none a year ago. John Wood was appointed as CEO and starts on November 21, replacing Hannah McCaughey, who held the role on an interim basis. Chair Steve Mahon says: ‘Gelion’s first year as a PLC was one of strategic evolution, one in which the group has accelerated the delivery of its battery technology, underpinned by the recent first industrial production of Gelion’s zinc-bromide battery.’ Gelion listed on AIM in November last year.
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Atalaya Mining PLC - Cyprus-based copper producer - Swings to pretax loss in three months ended September 30 of €7.2 million from €38.2 million a year prior. Revenue in the third quarter drops to €82.3 million from €107.2 million. The company says lower revenue was the result of lower copper prices, as well as lower copper concentrate volumes sold in the year-to-date. Expects costs to moderate in the fourth quarter and looks forward to 2023, when it will benefit from a new long-term power purchase agreement and the start-up of the 50-megawatt solar plant. Full year copper production guidance remains at 52,000 to 54,000 tonnes.
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Wynnstay Properties PLC - Powys, Wales-based agricultural supplies company - Pretax profit for the six months that ended September 29 narrows to £587,000 from £650,000 a year prior. Net property income marginally decreases to £800,000 from £839,000. The company says its rental portfolio was fully let at the end of the half-year, consistent with its past record of high occupancy and low voids. Declares increased interim dividend of 9.0p per share, up from 8.5p the previous year. Chair Philip Collins says: ‘We continue to monitor the portfolio and will work closely with our tenants in these extremely challenging times.’
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