The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Anexo Group PLC - Liverpool, England-based integrated credit hire and legal services company - Revenue in 2023 rises 8.0% to £149.3 million from £138.3 million in 2022. Pretax profit falls 3.7% to £23.0 million from £23.9 million, however. ‘This reflects the investment in staff and marketing costs noted above as well as a general increase in finance costs as interest rates impacted the cost of capital to the group,’ Anexo adds. Net finance costs amount to £16.7 million, up markedly from £6.3 million.
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Maintel Holdings PLC - London-based cloud and managed communications service provider - Revenue in 2023 grows 11% to £101.3 million from £91.0 million. Pretax loss, however, widens to £6.8 million from £4.9 million. Maintel says: ‘The significant increase in revenue year on year reflects accelerated trading momentum in the second half, which delivered growth beyond the successful delivery of the order book contracted in 2022.’ Hurting profit, it reports £5.1 million worth of transformation costs, against none in 2022, and £1.5 million in staff restructuring and other employee related costs, up from £417,000. Maintel says: ‘Having concluded our organisational and strategic transformation in 2023, positioning the business to generate strong growth and deliver solid economic performance in the years to come, Maintel is focus remains on margin improvement, mitigating the impact of continued inbound price pressure, and on opportunities in high growth segments in 2024.’ It hails a ‘confident start’ to 2024.
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Concurrent Technologies PLC - designer and manufacturer of computer products - Revenue in 2023 rises 73% to £31.7 million from £18.3 million in 2022. Pretax profit surges to £3.5 million from £382,681. CEO Miles Adcock comments: ‘We achieved remarkable success in FY23, putting in place the building blocks that will enable us to deliver long-term, sustainable growth. This is driven by significant design-in wins and strategic investment in the Systems division, including the acquisition of Phillips Aerospace.’ It proposes a 1.0p per share dividend, after not paying one for 2022.
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Dianomi PLC - London-based digital advertising platform - Revenue in 2023 falls 16% to £30.2 million from £35.9 million. Dianomi swings to a pretax loss of £1.8 million, from profit of £1.1 million. It puts the weaker revenue to ‘lower traffic levels across the publisher base and a lower level of revenue being generated from new publishers coming on to the platform during the year compared to previous years’. Looking to 2024, it says elections in the US and a ‘further 63 countries around the world’ are likely to lift traffic across its publisher base. Trading so far in 2024 is ‘in line with management expectations’.
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Cambridge Cognition Holdings PLC - Cambridgeshire, England-based company developing and marketing digital brain health assessment solutions - Revenue in 2023 rises 7.2% to £13.5 million from £12.6 million. Pretax loss stretches to £3.5 million from £624,000, however. Total operating expense increases 43% to £14.4 million from £10.1 million. Looking ahead, it says: ‘The company’s pipeline of opportunities for the remainder of 2024 is healthy. The first quarter has already seen an increase in contract wins compared to the same period last year, however, with several major contract delays, the majority of new business is expected to occur in the second half of 2024.’ Depending on the timing of contract wins, it expects 2024 revenue in range of £13.0 million to £15.0 million. The firm says Chief Financial Officer Stephen Symonds will step down by end of September to join ‘an unrelated business’. ‘Stephen has made an important contribution to the leadership and development of the Company and will continue as CFO to support a smooth handover while a successor is recruited,’ the firm says. Symonds joined as CFO in April 2022.
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Intelligent Ultrasound Group PLC - Cardiff, Wales-based provider of artificial intelligence ultrasound software - Revenue in 2023 rises to £11.2 million, from £10.1 million in 2022. Revenue in 2022 had included one-off £1.9 million simulation orders from UK NHS. Without this, revenue grows 36% in 2023, it adds. Pretax loss slims to £3.0 million from £3.7 million. Looking ahead, Intelligent Ultrasound says: ‘The UK market is experiencing tougher trading conditions due to the current reduction in NHS capital expenditure spending but anticipate growing revenue from high margin AI-related products and non-UK related simulation markets.’ It expects 2024 revenue between £14 million and £17 million ‘and continues to forecast that it will reach profitability with its current cash resources’.
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Georgia Capital PLC - Tbilisi-based investor in domestic businesses in Georgia - Net asset value per share at March 31 first-quarter end rises 8.6% to ₾90.04, from ₾82.94 in December. In sterling terms, NAV per share improves 9.3% to £26.48 from £24.23. Net income during period jumps to ₾287.6 million, around £85.9 million, from ₾80.6 million. ‘Our robust balance sheet and capital allocation management, coupled with the strong performance of our portfolio companies, led to outstanding results in 1Q24,’ it says. ‘Looking ahead, with the expected rebound in the operating performance of our hospitals and retail (pharmacy) businesses in 2H24, we anticipate an even more significant opportunity for value creation across our portfolio companies.’
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Aterian PLC - investment company focused on African mineral resources - Pretax loss in 2023 narrows to £1.1 million from £4.4 million in 2022. Reports no revenue, unchanged from prior year. Administrative expenses up 48% to £1.5 million from £996,000 in 2022. However, it reports no provisions for impairment charges, versus £3.0 million in 2022. Aterian says: ‘We believe the outlook for Aterian remains very positive. We remain confident that our existing asset portfolio has the potential to deliver tremendous value to the Company, its shareholders and other stakeholders, as demonstrated in large part by our recent announcement of our joint venture with Rio Tinto for lithium exploration in Rwanda. We will continue to update shareholders as we deliver on our value-creation plans with the results of our ongoing exploration and corporate activities.’
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