The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Parkmead Group PLC - Netherlands and UK-focused oil and gas company - Revenue in six months ended December 31 jumps to £11.1 million from £4.6 million a year earlier. Parkmead swings to a pretax loss of £5.2 million, however, from profit of £1.3 million. It reports a £12.7 million hit from an impairment related to licence P1293, after the Athena field was decommissioned. Company adds: ‘Parkmead has delivered significant results at operating level from its diversified energy portfolio in the six-month period to December 31, and through the three months post period end. There are obvious concerns in the upstream industry about the high and increasing levels of taxation on primary energy production across Europe, and how that may impact future investment. Despite this higher taxation, Parkmead has the benefit of having built multiple opportunities to create additional value, such as those across the Netherlands, as well as the progression of our Skerryvore project in the UK Central North Sea.’
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Shearwater Group PLC - London-based cybersecurity, advisory and managed security services - Warns its performance in the year ended Friday is likely to disappoint and be ‘significantly behind market expectations’. Expects annual revenue of £27.0 million, compared to £35.9 million a year before and market consensus of £37.7 million. Adjusted earnings before interest, tax, depreciation and amortisation are expected at ‘around breakeven’, compared to market consensus that it would remain unchanged from the £4.4 million achieved in the prior year. The weaker performance reflects delays in finalisation of orders in Services and Software businesses, as customers defer investment decisions or implement spending freezes amid market volatility in the final quarter. ‘Looking forward the group retains a strong pipeline on which to deliver sustainable revenue, with profits moving forward as we deliver deals to our loyal customer base, including banks and telecoms businesses,’ Shearwater says.
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Sabien Technology Group PLC - Technology company, focused on the heating, cooling and transportation sectors - Revenue in six months to December 31 surges to £238,000 from £121,000 a year earlier. Pretax loss narrows to £458,000 from £569,000. Labels the first half one of ‘strategic importance’. ‘Looking to the final quarter of the current financial year, the board believes that the momentum evident in the 9-months to date is built on solid foundations; orders secured, billings made, and prospects enhanced,’ Sabien adds.
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Barkby Group PLC - businesses in real estate, consumer & hospitality & life sciences - Revenue in half-year ended December 31 grows 3.9% to £3.4 million from £3.3 million a year earlier. However, Barkby swings to a pretax loss of £2.0 million from profit of £373,000. Administration expenses rise to £2.5 million from £1.7 million. Sees no boost from fair value movements, compared to a £1.3 million tailwind in prior year.
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Logistics Development Group PLC - investment firm - Pretax profit in year ended November 30 wiped out to £1.1 million from £84.7 million the year prior. Gain on investments fall markedly to £2.0 million from £85.7 million. ‘We are pleased to report a year of progress for LDG during which we have evolved our investment policy and have since made a number of attractive investments. As we look ahead whilst there may be choppy waters, we are confident we can navigate these and deliver attractive returns’ Chair Adrian Collins says.
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Amala Foods PLC - cash shell - Pretax loss in half-year to September 30 widens to £82,631 from £60,101 year-on-year. Posts fair value gain of £8,696, lower than the £66,494 achieved a year earlier.
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