The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Dekel Agri-Vision PLC - West Africa agricultural company - Records revenue of €31.2 million for 2022, down 17% from €37.4 million in 2021. Palm oil operation revenue is €30.5 million, while Cashew Operation revenue is about £700,000. Swings to pretax loss of €1.2 million from a profit of €916,000 a year earlier, as operating profit declines to €1.2 million from €2.6 million. Finance costs rise to €2.5 million from €1.7 million. Posts earnings before interest, tax, depreciation and amortisation of €4.6 million, down from €5.2 million in 2021. Executive Director Lincoln Moore says: ‘Achieving a strong Ebitda of €4.6 million from the palm oil operation despite operating in the lowest high season production period we have experienced was a credible outcome.’
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ProBiotix Health PLC - Wakefield, England-based life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions - For period between November 4, 2021 and December 31 of last year, revenue amounted to £1.3 million. These are the firm’s maiden annual results. The firm had its initial public offering on March 31 last year at an IPO price of 21 pence. Pretax loss is £203,000, as total administrative expenses amount to £1.0 million. Chief Executive Officer Steen Andersen says: ‘Although the markets are challenging, we have a strong balance sheet with no debt, good sales growth and a healthy cash reserve.’ Looking ahead, notes strong pipeline in 2023.
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Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer that produces batteries for the large-scale requirements of business networks - Posts revenue of £2.9 million for 2022, down 9.4% from £3.2 million in 2021. Cost of sales decreases to £2.3 million from £6.6 million a year earlier. Pretax loss narrows to £18.5 million from £21.4 million, as the firm books a gain of £448,000 on foreign currency, compared to a loss of £63,000 in 2021. Bottom line boosted by a fall in provision for onerous contracts to £554,000 from £3.8 million. Looking ahead, says its 2023 revenue backlog stands at £23.7 million as at May 31. ‘We’re pleased with the progress we made in 2022 along Invinity’s pathway to profitability. Achieving and exceeding our expectations for signing new deals was foundational for achieving the significant increase in revenue we expect in 2023,’ Chief Executive Officer Larry Zulch says.
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