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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EKF Diagnostics Holdings PLC - global diagnostics business - Provides trading update for six months ended June 30 during which it says trading was in line with expectations. Reports revenue from continuing operations was £26.3 million, down from £34.4 million the year prior. Excluding all Covid-related revenues, first half revenue from continuing operations rose to £25.4 million from £22.7 million the year prior. Says the positive momentum across Point-of-Care has been maintained throughout the first half, with sales up nearly 10%. Life Sciences delivered 13% year-on-year sales growth, compared with last year. Expects that improvements in adjusted earnings before interest, tax, depreciation and amortisation margin will begin to be seen in the second half. Sees full annualised benefits of margin improvements in financial year 2024.
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LBG Media PLC - Manchester, England-based digital media and youth content publisher - Gives trading update for six months to June 30. Expects to report first half revenue of £27.2 million up compared to £24.8 million the year prior, growth of around 10% and reflective of the seasonality anticipated between the first and second half. Direct revenues increased by around 9% to £11.5 million from £10.6 million. Notes visibility of booking levels for the second half of the year is also improved compared to this time last year. Indirect revenue increased by around 13% to £15.3 million from £13.6 million. Expects adjusted earnings before interest, tax, depreciation and amortisation of around £3 million, an increase of over 80% from £1.6 million last year. Confirms the outlook for the full year remains in line with market expectations.
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NAHL Group PLC - Northamptonshire, England-based insurance claims management - Says revenue and profit in line with management expectations in the six months to June 30. Expects revenue to be slightly ahead of last year at £21.0 million, compared to £20.7 million. Reports substantial progress in reducing net debt, which at June 30 was £11.6 million, down 13% from £13.3 million at December 31, 2022 and down 20% from £14.5 million at June 30, 2022.
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Tialis Essential IT PLC - Edinburgh, Scotland-based IT service management company - Says business has continued to grow in line with market expectations in the six months June 30. Predicts revenue to be no less than £11.5 million with adjusted earnings before interest, tax, depreciation and amortisation to be no less than £1.2 million. Further Andy Parker, executive chair, notes the continued decline in share price and ‘is considering whether or not to use its authorities to buy back shares on the market if it deems it to be the best use of capital and accretive to shareholders’.
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Gresham Technologies PLC - London-based firm which provides software and services for data integrity and control, banking integration, payments and cash management - Reports revenue in the six months to June 30 of £23.9 million, up compared to £23.0 million the year prior. Pretax profit fell to £795,000 from £1.1 million while basic earnings per share declined to 1.34 pence from 1.85p before. Highlights Clareti revenue growth of 10%, driving group revenue growth of 4%. Margins were broadly consistent with the first half of 2022, with improvements expected in the second half, aligned with the traditional second half weighting of the business. States a solid pipeline of new opportunities gives confidence the company can meet full year market expectations.
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Revolution Bars Group - Tameside, England-based bar chain - Updates on trading for the year ended July 2 which is anticipated to be in line with market expectations. Says Peach Pubs has continued to trade strongly and in line with business expectations at acquisition, with full year like-for-like sales 14% ahead of pre-Covid levels. Sees significant opportunities to invest in and expand this brand when appropriate. Confirms financial year 2023 earnings before interest, tax, depreciation and amortisation is expected to be in line with market expectations of £6.6 million. Expects trading conditions to remain challenging for the new financial year.
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