The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Concurrent Technologies PLC - Colchester, England-based designer and manufacturer of computer products for use in critical embedded applications - Expects to report ‘record’ first-half, with revenue rising 39% to £16.8 million from £12.1 million, and pretax profit doubling to £2.0 million. ‘The cadence of major design wins continues to improve, with eight major design wins secured in H1 FY24. These programmes are expected to ramp up over two to three years and will be delivered over a seven-to-10-year period, depending on each specific programme,’ it adds.
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EnSilica PLC - Oxfordshire, England-based semiconductor designer - Announces $7 million order from new customer for a non-recurring engineering component and initial wafer supply for an edge artificial intelligence chip. EnSilica says about $5 million of revenue will land in current financial year. ‘There is a further potential supply revenue of more than $50 million over the first five years of production,’ it adds. ‘In addition to the order, the company is pleased to announce that it has received more than $2 million of services and [non-recurring engineering] bookings since the beginning of the company’s current financial year, which started on 1 June 2024.’
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Silver Bullet Data Services Group PLC - London-based digital marketing services - Has won 20 new contracts in first half of year. ‘These new contract wins include multinational brands from industry-leading companies across various sectors and represent committed new business revenues of approximately £1.2 million to date,’ Silver Bullet adds. ‘Notably, one of the new contracts is with a global confectionery company that has entrusted Silverbullet with a worldwide mandate for its data strategy.’ In addition, it notes it has secured a working capital facility. ‘Additional liquidity has been obtained through a $1 million receivables discounting facility, which is expected to support cash flow management and the continued growth of revenues from large global customers with longer payment terms for the remainder of the year, underscoring our commitment to maintaining a solid financial foundation and achieving positive operating cashflow in H2 2024,’ it adds.
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Aptitude Software Group PLC - London-based provider of autonomous finance software - Says annual recurring revenue in six months to June 30 rises 2.2% to £50.8 million from £49.7 million. ‘A growing pipeline of Fynapse opportunities, as well as an increasing take up from our strategic partners supports the board’s confidence in driving continued growth in H2 and beyond,’ it adds. It expects first-half adjusted operating profit to be in line with the £4.2 million achieved in first half of 2023. Total revenue will be lower, however. Revenue in first half of 2023 amounted to £37.5 million. It is confident it can ‘meet market expectations’ for 2024.
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Electric Guitar PLC - digital marketing and advertising company - 3radical Ltd operating subsidiary agrees to reseller partnership with Sophus3, a consumer engagement firm for the automotive industry. ‘This new partnership with Sophus3 enables 3radical to offer its Voco platform to the world’s largest car brands at a time when first-party data is becoming increasingly important in the automotive industry. In addition, 3radical will be able to utilise Sophus3’s Engage software platform to assist its clients in responding to consumer behaviour in real-time, by providing tailored content that boosts sales,’ Electric Guitar adds.
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Cykel AI PLC - product and research company - Reports launch of ’Workflows’ feature, allowing businesses to ‘augment or fully automate key processes’. ‘Workflows allows companies to create intelligent automations using Cykel’s proprietary AI platform. By leveraging Cykel’s platform, companies can automate a wide range of tasks and processes, saving an average of 8 hours per week and automating 30-50% of repetitive work,’ Cykel AI adds.
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Distribution Finance Capital Holdings PLC - provider of financing solutions for dealers and manufacturers in the UK - Signs deal with British Business Bank to increase Enable guarantee to £350 million from £250 million. Enable aims to increase availability of finance for small and medium-sized enterprises. ‘The increased Enable guarantee further improves the Group’s capital efficiency and, when considering its recent profit upgrade, current capital and tier 2 capital, will support the group’s loan book growth to [around] £850 million, an increase from the previously announced target of [around] £800 million,’ it adds.
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Longboat Energy PLC - Southeast Asian-focused oil and gas exploration company - Seals sale of 50% holding in Longboat Japex Norge AS to joint-venture partner Japan Petroleum Exploration Co Ltd. ‘Longboat has received the full cash consideration of US$2.5 million and JAPEX has now assumed all future financial obligations associated with LJN, including existing debt in LJN. Proceeds from the transaction, along with Longboat’s existing cash resources and savings from continued cost reduction measures are forecast to provide sufficient capital through the end of Q1-25,’ it adds. ‘Longboat’s near-term focus remains its Malaysian activities. This includes the farm-out of Block 2A, which contains the world-class Kertang prospect, and finalising negotiations with Petronas on a production sharing contract for several material and undeveloped gas fields capable of near-term development.’ It plans to rename and rebrand amid the ‘final step in repositioning its business for success in Southeast Asia’.
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Unicorn Mineral Resources PLC - minerals exploration and development company - Gravity geophysical survey work at Kilmallock Block project in Limerick to begin this week. ‘This work follows successful historical exploration work at Bulgaden and Ballycullane which discovered high grade mineralisation and the presence of the well-developed Waulsortian Reef, that extends across almost the entire block at Kilmallock,’ it adds. Expects to announce results of survey by end of month, along with results for financial year ended March 31.
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