The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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RentGuarantor Holdings PLC - London-based rent guarantee service provider - Revenue in the first half of 2023 increases 79% £304,965 from £170,492 the prior year. Pretax loss widens to £408,470 from £352,919, and loss per share to 3.53 pence from 3.13p. Says wider losses due to continued investment in technology, people and marketing. Says results are ‘supportive of our strategy’ and that it presents a ‘significant’ long-term opportunity.
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Journeo PLC - Ashby de la Zouch, England-based - Pretax profit increases to £1.7 million in the first half of 2023. Group revenue more than doubles to £21.8 million from £8.9 million, including £9.3 million contribution from IGL Ltd (Infotec), acquired in January. Core business revenue up 41% to £12.5 million from £8.9 million, and sales of lower margin products were higher than expected. Expects £41 million revenue for the full year, ‘significantly ahead of current market expectations’. Expects £42 million revenue next year and is targeting £50 million in 2025.
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International Personal Finance PLC - Leeds, England-based home and digital consumer credit provider - Pretax profit up 12% in first half of 2023 to £37.8 million from £33.8 million in 2022, ahead of expectations. Revenue up 28% to £380.0 million from £297.4 million. Declares 3.1p per share interim dividend, up 15% from 2.7p last year. Rollout of credit cards in Poland is ‘progressing well’ with 53,000 cards issued, while its Mexico expansion strategy is on track with just under 800,000 customers. Is confident full-year results will be robust thanks to strong balance sheet, but still intends to maintain strict cost control.
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Ethernity Networks Ltd - Airport City, Israel-based supplier of data-processing semiconductor technology - Still ‘taking careful steps towards generating positive cash flow from its operations’ during financial 2023, including combining business model to focus on licensing and reducing costs. Says there is ‘significant uncertainty’ over its ability to achieve full-year target revenue due to extended sales cycles and delays in existing customer contracts. However, it expects an improved gross margin once licensing sales commence and improved earnings before interest, tax, depreciation and amortisation. Also says it has completed delivery of its system-on-chip devices to an existing fixed wireless customer pursuant to a $1.5 million purchase order announced in June.
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Eco Atlantic Oil & Gas Ltd - Toronto-based oil and gas company with projects in Namibia, Guyana and South Africa - Pretax loss for year ended March 31 widens to £36.6 million from £3.8 million the previous year. Revenue increases to $66,671 from $3,556. Still receiving third party interest in its offshore Namibia strategic acreage position, and remains committed to further drilling on the Orinduik block in Guyana.
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Symphony Environmental Technologies PLC - Hertfordshire, England-based developer of technologies to increase sustainability of plastic and rubber products - Says group revenue in first half of 2023 increases to £3.6 million from £3.0 million last year. Gross profit margin increases to over 42% from 36%. Distribution costs ‘sharply reduced’ to £110,000 from £225,000 due to lower shipping costs and its new Middle East production facility increasing efficiency. Says it will still make loss but this will be considerably lower than prior year. Expects momentum from this period to help it move back into productivity along with near-term commercialisation of multiple key projects.
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