The following is a round-up of earnings and trading updates for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Pebble Beach Systems Group PLC - Weybridge, England-based provider of software solutions for broadcasters and streaming services - Shares rise 21% on Wednesday as company expects to report trading ahead of current market forecasts for 2023, with revenue increasing to around £12.4 million from £11.2 million in 2022, with recurring revenue up 13% to approximately £5.2 million from £4.6 million. Adjusted earnings before interest, tax, depreciation and amortisation should rise to about £3.8 million from £3.3 million. Says project orders increased 84% in the second half compared to the first. Expects current rate of recurring revenue growth to continue through 2024, and expects this year’s trading to be ahead of current market forecasts, providing ‘a platform for further growth in [2025] and beyond’.
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Directa Plus PLC - London-based graphene product maker - Environmental services subsidiary Setcar SA renews contract with Ford Otosan, an automotive business in Romania owned by Ford Motor Co. Setcar will deliver ’Total Waste Management’ services for €1.9 million, to be invoiced this year. Company says services will leverage its Grafysorber technology and include waste disposal, transportation, treatment, recycling, equipment, and personnel. News marks company’s fifth contract renewal with Ford Otosan.
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Symphony Environmental Technologies PLC - Hertfordshire-based firm developing technology to make plastic biodegradable - Shares fall 44% to 3.50 pence in London. Company says General Court of the European Union has delivered its judgement and declined to declare the relevant part of Article 5 of the Single-use Plastic Directive 2019/904 as being invalid. Symphony notes that this judgement relates to its d2w biodegradable business only. Case was first heard in March last year. Company says it will update markets further once it has read and analysed the judgement in full. Its case was that article 5 is unlawful, claiming for losses and reputational damages.
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Empyrean Energy PLC and Coro Energy PLC - oil & gas developer and South East Asian energy company, respectively - Companies note update regarding development activities for the Mako gas project within the Duyung Production Sharing Contract area offshore Indonesia, released by Conrad Asia Energy Ltd which holds a 76.5% operated interest in Duyung. Empyrean has an 8.5% interest in Duyung, while Coro holds a 15% interest. Conrad says considerable progress has been made, including the negotiation of an improved gas price formula, causing it and commercial partner Sembcorp Gas Pte Ltd to delay the deadline to finalise a binding gas sales agreement to the end of the second quarter. Conrad is also working to further optimise Mako’s costs and expenditure scheduling to reduce capital expenditures, currently estimated to be around $250 million. Both Empyrean and Coro welcome the announcement.
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DXS International PLC - Leicestershire, England-based healthcare information and clinical decision support systems provider - Revenue for the six months to October 31 increases 2.5% to £1.69 million from £1.65 million the previous year. Pretax loss widens to £258,472 from £131,269. Depreciation and amortisation costs increase to £570,007 from £354,363. Cash balance at October 31 was £386,122, up from £373,978. Says implementation of its pipeline business is being hindered as the NHS Central Funding pot remains frozen whilst awaiting finalisation of internal NHS renewal processes. Adds that until this happens, its ability to achieve previous market guidance will be delayed. Market had anticipated turnover of £3.8 million by April 2024 and £4.7 million by the end of the current calendar year.
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