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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TT Electronics PLC - Woking, England-headquartered manufacturer of electronic components - Says annual results will be ahead of expectations. Organic revenue growth will be 20%, crediting its positioning in structural growth markets, along with adding new projects and customers. Expects adjusted pretax profit to be at the top end of analyst consensus, which TT cites as a range of £36.5 million to £39.4 million. Adjusted pretax profit was £31.5 million in 2021. ‘We enter 2023 with good momentum, underpinned by a strong order book and will provide a full update with our annual results presentation on 8 March,’ TT says.
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Tracsis PLC - Leeds-based traffic and transportation data services firm - Says trading in the first half of financial 2023 has been in line with expectations. Revenue is estimated to have increased to £39 million in the six months that ended on January 31 from £29.2 million a year before. Expects earnings before interest, tax, depreciation and amortisation to have upped by more than 20%, compared to £6.2 million a year before. Looking ahead, says expectations for year ending July 31 remain unchanged. Will release interim results on April 3.
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Arbuthnot Banking Group PLC - London-based bank - Says continues to trade well in the fourth quarter of 2022. Expects to report pretax profit for 2022 ahead of market expectations of £17.3 million, adding that it benefits from higher interest rates due to new business model. Pretax profit was £4.6 million in 2021.
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System1 Group PLC - London-based marketing and brand consultancy - Expects data revenue for the third quarter ended on December 31 to reach £3.4 million, up 18% from £2.8 million a year earlier. Says year-to-date data revenue increases by 31% on the comparable period to £9.6 million. Says reduction in consultancy revenue slows from 46% in the first half to 21% in the third quarter on the comparable period. As a result, Q3 revenue declines by 4% to £6.2 million from £6.4 million a year before. Says it does not anticipate a reduction in net cash during the final quarter.
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IGas Energy PLC - London-based onshore energy company - Net production averages 1,898 barrels of oil equivalent per day for 2022, heavily impacted in the first half by equipment failure caused by supply chain issues. Net debt amounts to £6.1 million, down from £12.2 million in 2021. Says commodity prices remained strong during the period with a resulting positive impact on income and cash generation from its underlying oil and gas assets. Looking ahead, expects net production of 2,000 barrels of oil equivalent per day and operation costs of about $41 per barrel of oil equivalent in 2023.
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