The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Sondrel Holdings PLC - Reading, England-based semiconductor design services firm - In 2023, pretax loss widens to £18.0 million from a restated £6.4 million loss a year prior. Revenue falls 45% to £9.4 million from £17.3 million. Cost of sales increases 39% to £21.8 million from £15.7 million. Rox Equity Partners Ltd offers additional £1.5 million if needed to supplement its £2 million investment. Recent £5.6 million fundraise provides greater liquidity going forward. Chair David Mitchard says: ‘Delays in both existing and expected new contracts meant that the second half of the year was extremely difficult with little revenue generated and trading losses recorded.’
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Merit Group PLC - London-based data and intelligence business - In the financial year that ended March 31, the company swings to £884,000 pretax profit from a £3.7 million loss the year prior. Revenue grows 7.0% to £19.9 million from £18.6 million. Administrative expenses fall 38% to £7.9 million from £12.6 million. The company says whilst organic growth will fund investment in sales and marketing, it will impact financial 2025 margin performance with adjusted earnings before, interest, taxes, depreciation, and amortisation expected to fall 15%.
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Northern Bear PLC - Newcastle upon Tyne, England-based building services firm - In the financial year that ended March 31, pretax profit increases 10% to £2.1 million from £1.9 million a year before. Revenue falls 1.5% to £68.7 million from £69.7 million. Cost of sales reduces 5.3% to £52.8 million from £55.8 million. The company declares a final dividend of 2 pence per share, which follows a 4p per share ordinary dividend and a 1p special dividend for financial 2023. Going forward, investment in new organic growth ventures is expected to increase operating expenses by up to £300,000.
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Carclo PLC - Surrey, England-based provider of high-precision components - In the financial year that ended March 31, pretax loss widens to £3.8 million from £2.5 million. Revenue increases 7.5% to £132.7 million from £143.4 million. Finance expenses rise 52% to £6.0 million from £4.0 million as interest on bank loans and leases impacted by increases to base rates. Management successfully reduces net debt, which falls 14% to £29.5 million from £34.4 million. Margin expansion is expected to continue into financial 2026 following the implementation of operational optimisation processes. Chief Executive Officer Frank Doorenbosch says: ‘Looking to the future, our strategy will centre on reigniting our innovation engine. We will focus on enhancing product development, refining processes, and investing in our talented team.’
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Creightons PLC - Peterborough, England-based brand owner and manufacturer of personal care products - In the financial year that ended March 31, the company swings to a £3.3 million pretax loss from £687,000 pretax profit previously, with a £4.4 million exceptional impairment reported. Revenue falls 9.2% to £53.2 million from £58.6 million. Creightons proposes 0.45 pence per share final dividend, up from nil last year. Management is now focused on increasing penetration into the private label sector and seeking new product ranges.
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