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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RC365 Holding PLC - London-based company focusing on payment gateway solutions and IT support services - Its Hong Kong subsidiary Regal Crown Technology Ltd signs a mobile point of sales development agreement with Cooper Technology Sdn Bhd for the upgrade of Regal Crown’s existing mPOS program. ‘An mPOS is a portable and handheld point of sale device, such as a smartphone or a tablet, that functions as a register. It is typically linked to traditional hardware like credit card machines and receipt printers, and is run on cloud technology, which means data can be accessed anywhere and anytime,’ it says. Consideration payable is HK$1.0 million, about £99,000. Adds that Regal Crown expects to generate revenue during the fourth quarter of financial 2024.
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GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Buys PAYPT Finance Ltd, a Canadian company holding a Canadian money services business licence. Notes that the acquisition is subject to approval by the Financial Transactions & Reports Analysis Centre of Canada. Says the MSB license held by PAYPT encompasses a range of financial activities, including foreign exchange dealing; cryptoasset dealing; money transfer services; and authorizations for the issuance of debit cards and IBANs. Plans to rename PAYPT to Angra Global Ltd, signifying its strategic intention for Angra’s transformation into a B2B-focused Neobank. If complete, Angra will combine its existing UK-based foreign exchange and payment services company, Angra Ltd, paving the way for the company to launch a multi-currency e-wallet service. ‘This service will enable Angra customers to securely store their funds within Angra Global business accounts and facilitate seamless foreign exchange conversions and fund transfers through Angra’s established and reliable banking partnerships, akin to a conventional business bank account,’ it explains.
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Vp PLC - Harrogate-based equipment rental firm - Says that in the UK it has experienced varying levels of demand across the range of markets in which it serves. The infrastructure sector, including water, transmission and rail in particular, has remained supportive, but there has been a slowdown in housebuilding. Looking ahead, Vp remains in a strong financial position with an excellent track record of delivery. Despite both market headwinds and increases in interest rates, we continue to see opportunities and expect performance for the current financial year to be in line with board expectations.
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Nexteq PLC - Cambridge-based technology products provider for gaming and broadcast industries, formerly known as Quixant PLC - Says trading in the first half of the year has been ‘robust.’ Revenue was up 6% to $56.3 million. Says it continued to see a recovery in gross margins through the first half of the year. At June 30, the company had net cash position of $18.5 million, up 43% from $12.9 million at December 31. Looking ahead, says the improved operating margins seen in the first half of the year are expected to result in full year adjusted pretax profit in line with market expectations of $12.4 million. Expects revenue to be broadly in line with the previous year. In 2022, the company reported pretax profit of $8.8 million and revenue of $119.9 million. Expects to announce its results for the six months ended June 30 on September 6.
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Fonix Mobile PLC - London-based mobile payment and messaging platform - Says revenue and profit grew in its financial year ended June 30 and ended the year marginally ahead of market expectations. Gross profit climbs 14% to £15.1 million from £13.2 million a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation jumps 13% to £11.6 million from £10.3 million. Plans on paying an increased final dividend in November, in line with its progressive dividend policy to pay out at least 75% of adjusted earnings per share. Looking ahead, says it is confident for growth potential in financial 2024, due to ‘high levels of repeating revenue, a strong run-rate entering the new financial year, recent tier 1 wins in the UK and Ireland as well as a growing pipeline of client prospects across all sectors and markets.’
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Pendragon PLC - Nottingham, England-based automotive retailer - Expects to report 9% increase in underlying pretax profit to £36.5 million in the first half of 2023, up from £33.5 million. Says the UK motor division performed well in the half year. Also says Pinewood, the company’s dealer management software business, and Pendragon Vehicle Management, the company’s leasing business, also performed ‘strongly’ in the first half. Notes that the performance ‘more than offset’ about £15 million of cost pressure from the combined impact of cost inflation and higher interest rates. Looking ahead, says it remains mindful of the influence that both high inflation and increased interest rates have on consumer sentiment, with the potential for these factors to impact demand in the second half. Also continues to expect to deliver group underlying pretax profit in line with its expectations.
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Alumasc Group PLC - Kettering, England-based supplier of building & engineering products - Expects to report revenue from continuing operations of approximately £89 million in the financial year ended June 30, in line with the prior year and underlying pretax profit in line with board and market expectations. Looking ahead, it anticipates continued demand headwinds for the remainder of the 2023 calendar year, although it says these should be partly mitigated by contributions from the delayed overseas projects, which are now expected to commence later in the year. ‘The board remains confident in the group’s medium and long-term prospects within its commercial end markets, and continues to invest in sales and customer service, product development capability and operational efficiency projects,’ it adds.
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