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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Ramsdens Holdings PLC - Middlesbrough, England-based financial services provider and pawnbroker - Reports pretax profit for the year ended September 30 of £8.3 million, multiplying from £600,000 a year ago. Says profit increase driven by strong recovery in foreign currency gross profit as international travel was restored. Revenue was £66.1 million, up 62% from £40.7 million year-on-year, with revenue from jewellery retail increased by 48% to £27.1 million from £18.3 million a year ago. Chief Executive Officer Peter Kenyon comments: ‘Ramsdens delivered a very strong performance in FY22, once again reflecting the strength of our diversified income streams.’
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Ethernity Networks Ltd - data processing semiconductor technology supplier - Expects 2022 revenue to be at least $2.9 million, up 10% from $2.6 million a year ago. Adds that $600,000 revenue expected for 2022 will now be reported in 2023 due to project delays. Company notes that $9 million revenue is achievable for 2023, based on contracted orders and estimates of potential orders. Ethernity also announces a placing of 22.1 million shares to raise £1.6 million. Chief Executive Officer David Levi says: ‘The placing allows the company to be financially positioned for the next stage of its development to service anticipated mass deployment growth on existing contracts and capitalise on new opportunities.’ Adds that it has made significant progress in its development and commercialisation of data processing unit system-on-chip devices, passive optical network SoC devices and universal edge platform offerings.
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Active Energy Group PLC - biomass-based renewable energy firm - Begins construction of its CoalSwitch production facility at Ashland, Maine, with new reactor designs also completed. Says initial production volumes are targeted at a rate of 35,000 tonnes per year, with the aim of increasing the rate to 100,000 tonnes per year during 2023. Chief Executive Officer Michael Rowan says: ‘The program to build CoalSwitch production has made important progress. The production processes have been finalised to enable scaled production at the Ashland CoalSwitch Facility in greater volumes than originally anticipated and AEG’s goal is now to commence fuel deliveries during Q2 2023.’ Adds that sales teams were established in the UK and US were established in the second half of 2022, with commercial discussions of CoalSwitch sales continuing with 17 prospective customers in multiple countries. Increasing commercial interest should lead to future revenue opportunities, the company says.
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Petra Diamonds Ltd - South Africa and Tanzania-focused diamond miner - Completes precautionary measures to contain the tailings material and strengthen the New Alamasi water dam in early January, as well as the creation of a safety bund to reduce risk in affected areas, following the TSF wall breach at its Williamson mine in November. Confirms that 286 individuals were relocated after the breach, with 130 having returned to houses deemed safe. Notes the Williamson Diamonds Ltd evaluation of impacted livelihoods, to ensure appropriate compensation is paid, is nearing completion. The root cause of the wall breach has yet to be determined, Petra says.
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Unbound Group PLC - London-based footwear company, formerly known as Electra Private Equity - Says it has faced challenging conditions in the second half of the year ending February 5, with the UK’s summer heatwave and Royal Mail industrial action having impacted autumn and winter sales. Says revenue growth slowed in the third quarter, with a small return to growth in December and January so far. Expects full-year revenue to be £53 million to £54 million, up between 3% and 4% from a year ago. Unbound says it expects a pretax loss of between £4.23 million and £4.8 million, below market expectations. ‘Since our strong start to the year, trading in the second half has been disappointing, with weakened demand from the current economic slowdown and a number of external factors. However, we are pleased that margin discipline was maintained,’ Chief executive Officer Ian Watson comments. The company says it is focusing on managing costs and protecting margins and cashflow.
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