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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Audioboom Group PLC - London-based podcast provider - Posts revenue of about $74.9 million for 2022, up 24% from $60.3 million in 2021. Swings to pretax loss of $429,000 from a profit of $1.7 million, as operating loss is $323,000 compared to a profit of $1.8 million a year earlier. Cost of sales rise in line with revenue, and administrative expenses grow by 30%. Share-based payment more than triple. Annual adjusted earnings before interest, tax, depreciation and amortisation amounts to $3.6 million, up 15% from $2.1 million a year earlier. Chief Executive Officer Stuart Last says: ‘We increased our market share considerably, continued on our mission to power podcasting for creators and brands, and we expanded our creator network diluting revenue concentration amongst our top tier of podcast creators.’ Looking ahead, says 2023 will be ‘another positive year’.
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LPA Group PLC - Essex-based LED lighting and electro-mechanical systems maker - Says trading is in line with expectations. Expects a return to full-year profitability this year. Confident of the future outlook, anticipating the ‘restoration of a modest dividend in the latter half of 2023’. LAP adds that its manufacturing facility in Saffron Walden is targeting the aftercare market and the rail market both in the UK and overseas. Its Yorkshire-based lighting and electronic systems business is seeing increased ‘enquiry levels as the team have re-engaged face to face with its customers’. Last month, LPA said it swung to a pretax profit of £1.1 million in the financial year that ended September 30 from a loss of £387,000 the year before. Revenue was £19.3 million, up 5.8% from £18.3 million.
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Hardide PLC - Oxfordshire, England-based developer and provider of advanced surface coating technology - Says it is experiencing growth across its key markets of energy, aerospace and industrial products, with sales in the first half of financial 2023 expected to be ahead of the same period last year by about 7%. Says discussions with customers suggest this momentum will continue into the second half of the year. However, Hardide warns of economic headwinds across its markets with some project orders already delayed by customers into the first half of financial 2024. As a result, says it is taking a cautious approach to its revenue outlook. Last month, Hardide said revenue was £5.0 million in the financial year that ended on September 30, up 39% from £3.6 million the year before. Pretax loss narrowed to £2.3 million from £2.9 million.
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