The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Kooth PLC - London-based digital mental health platform - Says revenue for 2022 is expected to be within the range of market expectations of £19.6 million to £20.2 million, driven by growth of more than 15% compared to prior year. In UK Business, Kooth continues to meet ‘increasing demand from children and young people for fast and effective access to mental health support’. ‘Our proven track record, excellent recurring revenue and net cash position give us an excellent platform as we enter 2023,’ Chief Executive Officer Tim Barker says.
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Hotel Chocolat Group PLC - Hertfordshire, England-based chocolate maker - For the nine weeks ended on December 25, UK retail like-for-like store sales increase by 10% year-on-year. Group total sales including international fell 8%. For six months ended on December 25, UK retail like-for-like sales increased by 7% to £74 million. But group total sales including international fell 9% £130 million. Expects annual revenue to be £213 million and underlying pretax profit to be £8 million. Looking ahead targets 20% earnings before interest, tax, depreciation and amortisation margin in financial 2025.
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Distribution Finance Capital Holdings PLC - Manchester-based bank providing personal savings products and working capital to dealers and manufacturers - Says loan originations reach £1 billion for 2022, up from £690 million in 2021. Loan book reaches £440 million at December 31, up 76% from £249 million a year ago. Chief Executive Carl D’Ammassa says: ‘It is undoubted that 2022 has been another challenging year for the UK economy, however, despite the on-going uncertainties caused by the global pandemic and the war in Ukraine, I believe the firm has navigated the landscape well.’
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S-Ventures PLC - AQSE-listed investment firm focused on health and wellness sectors - Expects revenue for financial 2022 to be £8.7 million. For the 16 months ended on September 30, 2021, revenue was just £1.5 million. ‘Revenue performance was impacted by significant headwinds, particularly issues relating to the supply of certain ingredients, including those supplies from Ukraine in second and third quarters, which resulted in a loss of sales income,’ it says. Underlying operating losses before depreciation and acquisition costs for are about £2 million, reflecting the impact of lower than expected sales income and the impact on costs of lockdown-related labour supply issues.
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Gensource Potash Corp - fertilizer development company based in Saskatchewan, Canada - Revises the previously proposed ownership structure of KClean Potash Corp, the entity created to own and operate the Tugaske potash project. Currently, KClean is 100% owned by Gensource. Says the proposed 33% ownership offer by Helm AG for KClean resulted in a ‘unappealing risk-return ratio for new investors’. As a result, Helm has withdraw is 33% ownership offer. Gensource says it continues to progress its short-term financing and anticipates it will advance advance the near-complete bridge engineering work for the Tugaske project, which is in Saskatchewan, Canada. Helm remains committed to be the buyer of all of the granular fertilizer produced at Tugaske.
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