The following is a round-up of earning and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Altitude Group PLC - Sheffield-based operator of a marketplace for the promotional products industry - In the six months to September 30, swings to pretax profit of £31,000 from a loss of £133,000 a year prior. Revenue grows 54% to £11.8 million from £7.7 million. Cost of sales increase 84% to £6.8 million from £3.7 million. Looking ahead, the company says revenue and adjusted operating profit are in line with expectations. Chief Executive Officer Nichole Stella says: ‘The group is well placed for continued accelerated future growth, and the board is confident in the long-term success of the business. It is very pleasing to note that the momentum we showed in the first half of the year has continued into this period and we look forward to updating shareholders in the New Year.’
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Brickability Group PLC - Bridgend, Wales-based distributor of construction materials - In the six months to September 30, pretax profit grows to £16.0 million from £14.7 million. Revenue falls 7.9% to £324.8 million from £352.7 million. Cost of sales decrease 9.4% to £269.9 million from £297.7 million. Raises dividend to 1.07p per share from 1.01p a year prior, which the company says reflects the performance of the business. Looking ahead, says is confident on delivering on its strategic objectives.
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Fandango Holdings - London-based investment company focused on the industrial and services sectors - For the six months to August 31, swings to pretax loss of £110,000 from profit of £44,000 a year prior. ‘The current strategy of the company is to complete the proposed reverse takeover of European Battery Metals as swiftly as possible and within the timescale indicated above,’ the company says.
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Focusrite PLC - High Wycombe-based music and audio products firm - In the year ended August 31, pretax profit falls to £22.7 million from £30.6 million a year prior, noting challenging conditions. Revenue declines to £178.5 million from £183.7 million. Cost of sales decrease to £93.7 million from £100.4 million, but administrative expenses increase to £60.5 million from £54.6 million. Recommends final dividend of 4.5p per share, up from 4.15p a year prior, which brings the total dividend to 6.6p, up 10% from 6.0p a year prior. Chief Executive Officer Tim Carroll says: ‘We remain optimistic about our future prospects.’
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IG Design Group PLC - Newport Pagnell, England-based designer and manufacturer of celebrations products, including greetings cards, gift wrap, Christmas crackers, gift bags and partywares - In the six months to September 30, pretax profit climbs to $34.1 million from $32.0 million a year prior. Revenue falls 15% to $444.1 million from $521.2 million. Cost of sales decrease 19% to $351.1 million from $434.6 million. Looking ahead, notes strong relationships with customers but a challenging retail environment and uncertainty over consumer demand. Company remains on track for aspiration of pre-Covid operating profit margin recovery by the end of financial year 2025, ending on March 31. Chair Stewart Gilliland says: ‘Whilst the challenging external environment, particularly in the US, has impacted our revenue performance, we have seen increased collaboration in navigating the uncertainty together with our customers.’
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Kinovo PLC - London-based property services provider offering safety compliance and sustainability solutions - In the six months to September 30, pretax profit surges 55% to £2.6 million from £1.7 million. Revenue grows to £30.3 million from £29.8 million. Cost of sales decrease to £21.9 million from £22.1 million. Looking ahead, says second half started well, with revenue picking up. ‘The group is trading in line with the board’s expectations for the full year and is well positioned to continue its growth trajectory,’ Kinovo says.
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