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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Victorian Plumbing Group PLC - Lancashire, England-based bathroom retailer - Revenue in six months to March 31 falls 1.5% to £144.6 million from £146.8 million a year prior. Pretax profit climbs 5.4% to £5.9 million from £5.6 million. It adds: ‘As customers continue to seek value, demand for ’big ticket’ discretionary items is unchanged. The group has continued to take market share organically; like-for-like revenue in April and the early part of May 2024 has been in line with H1 2024 trends, with order volume growth offset by lower average order values.’ Lifts interim dividend by 16% to 0.52 pence from 0.45p.
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Xeros Technology Group PLC - Rotherham, England-based laundry technology developer - Revenue in 2023 amounts to £297,000, rising from £164,000 in 2022. Pretax loss narrows to £4.7 million, from £7.4 million. Chief Executive Officer Neil Austin says: ‘The work undertaken to increase the group’s commercial focus has resulted in a stronger than expected pipeline of potential new agreements. We are now in discussion with 10 major organisations with interest across all the group’s technologies.’
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Jaywing PLC - Sheffield-based data-driven advertising and marketing agency - Reports increase in loan facility, following discussions with lenders DSC Investment Holdings Ltd and Lombard Odier Asset Management (Europe) Ltd. Existing loan facility increases by £1.0 million, which includes arrangement fee of £30,000 payable to lenders, bringing financing’s total to £10.8 million. ‘The new funds, which will be used for working capital purposes, are available in two equal tranches, the first of which has been drawn and the second is due to be drawn, subject to the lenders’ consent, in June 2024,’ Jaywing says.
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Big Technologies PLC - remote people monitoring technology company - Says trades in line with its 2024 expectations. Says revenue in four months ended April totalled £18.5 million, unchanged on-year. Confident of result in line with market expectations for full year. Notes adjusted earnings before interest, tax, depreciation and amortisation consensus stands at £27.0 million to £29.5 million range.
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Ingenta PLC - Oxford, England-based provider of software and services to the publishing industry - Revenue in 2023 improves 3.6% to £10.8 million from £10.5 million. Pretax profit climbs 36% to £2.0 million from £1.5 million. Lifts final dividend by 16% to 2.6 pence from 2.25p. Total dividend upped by 19% to 4.1p from 3.45p. Says currently trading in line with expectations. ‘Having won a number of key new customer accounts, and demonstrated that with our streamlined operating structure we can deliver new business more profitably, we are expecting any new future revenues to make a substantial contribution to our profits and cash flows,’ CEO Scott Winner says.
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TheraCryf PLC - clinical stage drug development company focused on oncology and neuropsychiatry - Revenue in year ended March 2024 amounts to £396,000, compared to £442,000 the year prior. Pretax loss narrows to £3.6 million from £5.0 million. Operating expenses shrink to £3.8 million from £5.4 million. ‘The outlook for the coming year is looking promising, including non-dilutive funding, high quality academic collaborations and our recent acquisition and new programmes,’ it adds.
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Cel AI PLC - London-based provider of beauty advice and product recommendations using artificial intelligence - Posts revenue of £17,941 in six months to February 29, down from £31,022 a year prior. Pretax loss narrows to £603,619 from £1.8 million. Administrative expenses shrink to £627,078 from £1.8 million. Says it has ‘successfully completed the rightsizing of the business’, cutting costs in the process. ‘While the development of AI holds significant promise for the company’s future, it’s important to note that tangible results may require additional time to materialize,’ it cautions.
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Baron Oil PLC - oil and gas exploration with assets in UK and Timor-Leste - Reports no revenue in 2023, unchanged from 2022. Pretax loss widens to £1.7 million from £1.4 million. Administration expenses grow to £1.5 million from £1.2 million. In addition, and to ‘reflect its strategic focus on gas in South East Asia’, it proposes a name change. It proposes changing its name to Sunda Energy PLC. This will be put to shareholders at its annual general meeting. Baron Oil adds it has made ‘significant progress’ in operational planning work for Chuditch-2 well. This includes a site survey, drilling rig negotiations and well and production test design.
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Southern Energy Corp - natural gas exploration and production company - Petroleum and natural gas sales in first-quarter ended March 31 fall 7.6% to $4.8 million from $5.2 million. Net loss widens to $3.1 million from $1.1 million. CEO Ian Atkinson says: ‘The company’s Q1 2024 results show the resilience of our business in an environment which experienced one of the warmest winters in U.S. recorded history. Along with the warm weather came low heating demand for natural gas and suppressed pricing.’
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