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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Bank of Ireland Group PLC - Dublin-based lender - Appoints Myles O’Grady as chief executive officer. He will succeed Gavin Kelly who served as interim CEO and who will step down on Thursday. O’Grady previously had been Bank of Ireland’s chief financial officer from January 2020 until this past March.
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ME Group International PLC - Surrey-based instant-service equipment firm - Upgrades its full-year outlook thanks to a first-half performance which came in ahead of expectations. The company notes a strong recovery across continental Europe and robust consumer demand for all its services. Revenue is now expected to be between £256 million and £262 million for the full-year year ended October 31, up from £257 million previously, and at least 19% higher than £214.4 million in financial year 2021. Earnings before interest, taxation, depreciation, and amortisation is now expected between £82 million and £85 million, up from between £79 million and £84 million previously. In financial year 2021, Ebitda excluding associates was £65.1 million.
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Mountview Estates PLC - London-headquartered property manager - Notes Concert Party, which stands for Sinclair family members, still holds about 50% of the company’s issued share capital. Refers to January 2020 announcement which said that Sinclair family members extended a previous agreement to September 30, 2022. ‘The company has notified the takeover panel of the expiry of the Concert Party agreement and the continued existence of the Concert Party,’ Mountview says.
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S4 Capital PLC - London-based advertising agency - Despite ‘economic gloom and slowing tech growth’, S4 Capital says its top-line momentum has been ‘more than maintained’ in the third quarter of the year. The company reports revenue in the three months ended September 30 climbed 68% to £300.1 million from £178.4 million, while gross profit jumps 73% to £249.9 million from £144.4 million. Looking at current performance, S4 Capital says it continues to trade in line with its top-line objective for 2022 of 25% like-for-like gross profit/net revenue growth and profitability objective of operational earnings before interest, taxation, depreciation, and amortisation of around £120 million. S4 says it continues to convert new clients, with ‘ten whoppers now in sight’. The Martin Sorrell-led firm says that current economic pressures benefit S4 as it accelerates client shifts toward digital marketing.
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Tremor International Ltd - London-listed digital advertising firm focused on video, data & connected TV - Pretax profit in the three months that ended September 30 falls to $3.5 million from $13.4 million a year ago. Further, swings to a total comprehensive IFRS loss of $5.2 million from a profit of $10.2 million the previous year. Revenue in the quarter drops 19% year-on-year to $70.9 million from $87.0 million. Despite the drop in profit and revenue, Tremor says it remains ‘well-positioned’ to benefit from ‘anticipated industry secular growth trends’ which it expects to help mitigate potential negative effects. 2022 adjusted earnings before interest, taxation, depreciation, and amortisation is expected at $140 million, down 13% from $161.2 million in 2021.
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