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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Maintel Holdings PLC - London-based cloud and managed communications service provider - Revenue in half-year ended June 30 increases 1.7% on-year to £47.5 million from £46.7 million. Pretax loss widens to £2.9 million from £575,000, however. Maintel reports exceptional costs of £1.9 million, rising from £261,000. Staff restructuring and other employee-related costs rise to £965,000 from £153,000. Costs relating to business transformation amount to £606,000, compared to none a year earlier. ‘The solid performance of our sales team year-to-date supports our expectations of a strong performance for the second half of 2023. The sales order book currently extends revenue potential beyond our original expectations,’ the company says. It expects 2023 adjusted earnings before interest, tax, depreciation, and amortisation to be ahead of initial expectations.
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Good Energy Group PLC - renewable electricity supplier - Revenue in half-year ended June 30 rises 46% to £156.1 million from £107.6 million. Good Energy’s top-line is boosted by ‘rising wholesale costs leading to price rises’. Swings to pretax profit of £13.1 million from £750,000 loss a year earlier. ‘Our FY23 expectations remain unchanged, with a strong H1 performance partly offset with an expected one-off loss in H2 due to lagging commodity costs and tariff reductions,’ the company says.
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Water Intelligence PLC - London-based leak detection services company - Revenue in first half of 2023 rises 8.7% to $38.7 million from $35.6 million a year earlier and pretax profit climbs 21% to £4.2 million from £3.5 million. ‘We continue to deliver strong results while navigating market volatility produced by rising interest rates and inflationary pressures. Profits increased strongly. Margins improved. Our balance sheet remains strong enabling us to make investments for future growth both in terms of more trained technicians, new technology solutions for customers and software infrastructure to enable continuous customer engagement and operating efficiencies. We remain positive about the future as market demand for water infrastructure solutions continues to grow,’ Executive Chair Patrick DeSouza says.
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Steppe Cement Ltd - cement producer - Group revenue in six months ended June 30 falls 14% to $36.9 million from $43.1 million a year earlier. ‘The decline was mainly attributable to the 11% lower sales volume. The drop was concentrated in the first few months of the year when cement prices were maintained. Consequently the company decided to adjust pricing to recover the volumes,’ Steppe says. Pretax profit plunges to $61,000 from $12.0 million. Selling expenses rise 16% to $6.2 million.
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JPMorgan Mid Cap Investment Trust PLC - investment trust focused on UK companies in the FTSE 250 index - Net asset value per share at June 30 financial year-end improves 4.1% to 1,029.6 pence from
988.8p 12 months earlier. Reports NAV total return of 7.5%, beating the FTSE 250 Index, excluding investment trusts, which advances 3.0%. Proposes final dividend of 23.75p, up 10% from 21.5p. Total dividend amounts to 31.75p, up 7.6% from 29.5p.
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MyHealthChecked PLC - Cardiff, Wales-based consumer home-testing healthcare company - Revenue in first half ended June 30 falls by three-quarters to £2.5 million from £9.8 million a year earlier. Swings to pretax loss of £355,000 from profit of £1.0 million. CEO Penny McCormick says: ‘Despite the reduction in demand for Covid testing during the period under review, we have been very pleased with the delivery and retail launch of a broad range of blood and urine tests, progress with the capabilities of our digital platform, regulatory approval of our portfolio under CE marking, and achievement of Healthcare Inspectorate Wales accreditation.’ Adds: ‘Post-period end we have seen increased demand for Covid testing as we move towards the winter season, and the Eris and Pirola strains are in the news. We remain well-placed to provide a reliable and effective supply chain at large volumes to retail.
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