The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Kitwave Group PLC - North Shields, England-based food wholesaler - Posts revenue of £503.1 million for the year ended on October 31, up 32% from £380.7 million the year before. Pretax profit surges to £17.8 million from £2.1 million, as operating profit jumps to £20.4 million from £6.4 million the year before. Adjusted earnings before interest, tax, depreciation and amortisation amounts to £29.5 million, compared t £15.1 million the year earlier. Finance expenses reduce to £2.5 million from £4.3 million. Kitwave says it is recommending a final dividend of 6.75 pence each, subject to approval. If approved, this would take the total dividend for the financial year to 9.25 pence, up 37% from 6.75p a year prior. Looking ahead, Kitwave expects a positive outcome for financial 2023.
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Various Eateries PLC - London-based chain of restaurants, clubhouses and hotels such as Coppa Club - Says revenue in 2022 amounts to £40.7 million, up 82% from £22.3 million a year ago. Adjusted earnings before interest, tax, depreciation and amortisation surged to £3.5 million from £1.2 million a year ago. Pretax loss, however, widens to £7.2 million from £3.7 million, as it incurred impairments to goodwill and right of use assets of £2.5 million in 2022, compared to just £610,000 in 2021. Looking ahead, Various Eateries notes the uncertain outlook for inflationary pressures and ongoing threat of negative impact of train strikes, but says it is confident of delivering another year of progress in 2023.
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Benchmark Holdings PLC - West Sussex, England-based aquaculture biotechnology company - Says revenue for the first quarter ended December is £54.5 million, up 36% from £40.0 million the year before. Says Genetics division has delivered strong revenue growth of 41%, driven by ‘higher sales of salmon eggs and harvest revenues’. Swings to pretax profit of £100,000 from a loss of £3.7 million as operating loss narrows to £122,000 from £1.5 million on higher finance income of £7.5 million, compared to just £119,000 a year earlier. Notes ‘encouraging’ outlook for financial 2023.
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Inland Homes PLC - Buckinghamshire, England-based brownfield site developer, housebuilder and regeneration specialist - Delays publication of results for financial year ended September 30 to March. In August, Inland named PricewaterhouseCoopers LLP as its new auditors. Both agree that they need additional time to finalise the accounts and related audit procedures.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Reports revenue of A$2.7 million, or £1.5 million for the six months ended on December 31, up slightly from A$2.6 million a year before. ArtemiCTM sales during the period totals A$1.50 million, representing 57% of the total revenue. Pretax loss, however, widens to A$11.1 million from A$8.1 million, as administrative expenses rise to A$7.6 million from A$4.9 million a year ago. Write off impairment expense widens to A$3.1 million from A$224,134.
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