The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Beximco Pharmaceuticals Ltd - Dhaka-based generic pharmaceutical products and active pharmaceutical ingredients maker - Quarterly profit falls as revenue growth is outpaced by widened costs. Pretax profit in the first quarter that ended September 30 falls to BDT1.88 billion, which is around £15.9 million, from BDT1.91 billion a year ago. Revenue grows by 16% to BDT9.79 billion from BDT8.47 billion. However, operating expenses increase by 17% to BDT2.31 billion from BDT1.98 billion, while sales cost increases 22% to BDT5.36 billion from BDT4.39 billion. Managing Director Nazmul Hassan notes challenging exchange rates and macroeconomic headwinds. Looking ahead, he says: ‘While we expect this situation to remain throughout this financial year, we will look to find operational efficiencies in the business and maintain our commitment to growing our portfolio of products and delivering high-quality, affordable medicines in both the domestic and international markets.’
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Croma Security Solutions Group PLC - Hampshire, England-based security services provider - Raises total dividend despite fall in annual profit as it expects higher demand. Pretax profit in the year ended June 30 falls to £200,000 from £1.2 million a year ago. Revenue grows 8.1% to £35.2 million from £32.5 million. Increases total dividend by 5.0% to 2.1 pence per share from 2.0p. Further, wins four new contracts worth £6.1 million. The largest contract is Croma Vigilant’s three-year £5 million per year contract for the guarding services of a London property portfolio which can be extended for an additional two years. ‘Demand for our services is increasing as evidenced by the excellent new client wins post year end. Our strategy to be the leading British security brand is clear and to that end we are carefully extending our footprint of security stores across the country. We have the financial stability and cash resources to further invest in our development and we believe we are well placed to continue to grow both revenues and profits for the benefit of our shareholders,’ the company says looking ahead.
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Goodbody Health Ltd - Vancouver-based diagnostics firm - Says it is shifting its focus to preventive diagnostics such as blood and genetic tests and ear wax removal as demand for Covid tests has plummeted following the easing of travel restrictions during 2022. In the third quarter to September 30, Goodbody turns to a pretax loss of £1.3 million from a profit of £1,858 a year ago. Revenue falls to £1.9 million from £5.0 million. Cost of sales narrows to £1.0 million from £2.3 million. The company anticipates the outcome for the end of the year to be lower than previously estimated due to the current economic climate and the squeeze of disposable incomes. As it shifts to focus to providing preventative health care, it touts that there are 258 clinics providing blood testing, genome testing and ear wax removal.
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Horizonte Minerals PLC - nickel company focused on Brazil - In the three months to September 30, pretax loss widens by 77% to $6.6 million from $3.7 million a year ago. Administrative expenses increase 48% to $2.8 million from $1.9 million. The firm does not yet generate revenue. Horizonte notes that the Araguaia nickel project is running in line with project execution schedule. ‘The outlook for its operations remains positive, however risk remain should the pandemic worsen or changes its impact on the group,’ the company says.
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