The following is a round-up of earnings updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Niox Group PLC - Oxford-based developer of medical devices for asthma diagnosis and management - In 2023, revenue rises to £36.8 million from £31.3 million in 2022. But pretax profit falls to £4.1 million from £10.5 million. Sales in Clinical division rise 24% to £32.6 million from £26.2 million. A final dividend of 1 pence per share was paid compared to no dividend before. Intends to pursue a progressive dividend policy, growing future dividends in line with earnings. Says it has made a positive start to 2024 and continues to be highly cash generative.
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CAB Payments Holdings PLC - cross-border payments and foreign exchange firm - Reports 25% increase in gross income in 2023 to £137.1 million from £109.4 million. But pretax profit drops 14% to £37.6 million from £43.9 million, earnings per share decline to 10.0 pence from 14.0p. Forex income climbs 8%, payments income edges up 2%, other banking services income leaps 179%. CAB Payments says: ‘We are in the final stages of the application process for our EU licence and continue to expect our US licence to be granted in the second half of this year. These licences will open up significant additional sales channels for CAB Payments among high-quality development organisations and remittance providers, who move considerable sums into our key markets, and will also place salespeople close to major market banks in both geographies.’
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K3 Business Technology Group PLC - business-critical software solutions provider focusing on fashion and apparel brands - Reports revenue in the year to November falls to £43.8 million from £47.3 million. But pretax loss from continuing operations narrows to £1.8 million from £4.1 million as cost of sales falls to £16.6 million from £19.4 million. Administrative expenses also decrease to £25.5 million from £28.4 million. Remains focused on the transition to higher quality recurring earnings, as well as cash generation and cost discipline. Says trading in the first quarter of the new financial year is in line with budget. Expects cash generation to continue to improve in 2024 and the group to deliver a higher adjusted operating profit result.
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TruFin PLC - London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance, and mobile games publishing - Reports gross revenue in 2023 grew 34% to £20.5 million from £15.3 million the year prior, driven by growth across all the subsidiaries. Adjusted pretax loss narrows to £6.1 million from £8.2 million. Says revenue in first two months of new financial year was not less than £5.8 million, nearly three times higher year-on-year. This reflects the successful launch of Playstack’s fastest selling game. This excellent start to 2024 provides a strong platform, company says.
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Airea PLC - West Yorkshire-based flooring company - Reports revenue rose 14% in 2023 to £21.1 million from £18.5 million the year prior. Pretax profit is flat at £1.4 million, earnings per share decline to 1.99 pence from 3.36p. The final dividend was increased 10% to 0.55p from 0.50p. No interim dividend was paid, the same as in 2022. ‘Despite the current challenging economic conditions, we are pleased to report the group has experienced a good start to the year. Demand remains high for our carbon-neutral and low-carbon products, and we are confident of continuing to outperform the market through 2024,’ company says.
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Pebble Beach Systems Group PLC - Weybridge, England-based provider of software solutions for broadcasters and streaming services - Reports revenue in 2023 rises to £12.4 million from £11.2 million the year prior, despite tough economic conditions, with pretax profit up to £1.5 million from £1.2 million. Notes strong project order intake in the second half of £4.0 million, up 82% on the first half’s £2.2 million. Continues to reduce debt to £5.5 million at the year-end from £6.5 million the year before.
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CPPGroup PLC - Leeds, England-based technology-driven assistance and insurance provider - Reports revenue in 2023 increased by 14% to £193.0 million from £169.8 million in 2022. But swings to pretax loss of £6.1 million from £2.4 million profit as cost of sales increase to £162.1 million from £139.0 million. Administrative expenses also rise to £37.3 million from £28.2 million. ‘Whilst much has been achieved, there remains much to be done before we fully realise our ambition to transform CPP into a digitally led parametric business. Progress may never be as fast as I would like, but I am confident that we are travelling in the right direction and at an appropriate speed,’ Chief Executive Simon Pyper says.
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Life Science REIT PLC - life science property-focused real estate investment trust with assets in Oxford, Cambridge and London - Reports IFRS net asset value per share of 81.1 pence at December 31, down from 91.3p the year prior. Gross property income in 2023 totalled £15.5 million, rising from £13.1 million, while the IFRS pretax loss narrowed to £21.9 million from £27.5 million. IFRS loss per share was 6.2p compared to 7.9p, and the annual dividend was halved to 2p from 4p per share. Decides to rebase the dividend to a level that is sustainable and substantially covered by adjusted earnings over time.
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