The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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HSS Hire Group PLC - Manchester, England-based tool and equipment hire - In the 26 weeks to June 29 swings to pretax loss from continuing operations of £1.3 million compared to pretax profit of £4.7 million a year prior. Underlying pretax profit is £1.2 million down from £5.0 million a year ago. Revenue rises 3.2% to £170.8 million from £165.6 million. Calls it a ‘solid revenue performance in challenging markets’. Reports HSS ProService marketplace business like for like growth of 3.4%, ahead of market, with double digit Services increase somewhat offset by seasonal product weakness. Declares interim dividend of 0.18 pence per share. ‘While a continued weakness in seasonal products has led to a more challenging start to H2 2024, we are somewhat encouraged by lead macroeconomic indicators for UK construction beginning to trend in a positive direction. Both our businesses are positively positioned to capitalise on improving markets and we shortly expect to mobilise on a number of large accounts won over the summer,’ company says.
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Niox Group PLC - Oxford-based developer of medical devices for asthma diagnosis and management - In the six months to June 30, pretax profit from continuing operations rises to £4.4 million from £2.9 million a year ago. Revenue climbs to £21.0 million from £18.8 million. Clinical business revenue grows 11% to £18.5 million from £16.7 million. Declares final dividend of 1.0 pence per share. ‘Trading during July and August has been slightly ahead of management expectations. However, the ongoing strength of sterling is negatively impacting reported revenues, albeit with a negligible effect on Ebitda as the geographic mix of our operations ensures that, in aggregate, costs are largely incurred in the same currencies as revenue,’ company says. ‘Remains confident in achieving consensus expectations for the full year and in the group’s prospects for sustained growth in 2024 and beyond.’
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Personal Group Holdings PLC - Milton Keynes-based employee benefits and services provider - In the six months to June 30, pretax profit from continuing operations rises 14% to £2.3 million from £2.0 million a year prior. Revenue also climbs 14% to £21.0 million from £18.4 million with growth across all areas. Recurring revenue now 81% of total, up from 76% a year ago, providing high levels of visibility for the second half and beyond. Interim dividend increases 11% to 6.5 pence per share from 5.85p. Says strong new insurance sales have continued at the start of the second half, with retention rates remaining robust. ‘Trading in Q3 2024 continues to be in line with management’s expectations. This combined with the group’s growing proportion of recurring revenues underpins the board’s confidence in achieving market expectations for the full year,’ company says.
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Strip Tinning Holdings PLC - Birmingham-based supplier of automotive specialist connection systems - In the six months to June 30, pretax loss widens to £2.7 million from £798,000 a year prior. Revenue falls to £4.8 million from £5.6 million, while administrative expenses increase to £3.4 million from £3.0 million. Basic and diluted loss per share is 14.58 pence compared to LPS of 2.85p. Remains confident in its medium-term prospects, underpinned by the £95.7 million nominations book, new business pipeline, and the improving margins in the core Glazing division. ‘The nominations already received underpin our confidence that by the end of 2026 the company’s total sales will have doubled, and the new sales pipeline gives us robustness against any programme delays that could arise,’ company says. Confident of meeting revised guidance for Ebitda provided in July.
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Scancell Holdings PLC - Oxford, England-based developer of immunotherapies for treatment of cancer and infectious diseases - In the year to April 30, pretax loss narrows to £9.1 million from £14.3 million on zero revenue, down from £5.3 million a year prior. Benefits from finance income of £9.9 million compared to expenses of £1.5 million a year ago. ‘Given the significant clinical and commercial milestones achieved in the period, positive early efficacy data, and sufficient resources to fund the current strategy, the company is confident it will achieve its near-term milestones.’
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Hummingbird Resources PLC - gold miner with operations in Mali, Guinea, Ivory Coast and Liberia - In the six months to June 30, swings to pretax loss of $29.6 million from profit of $4.1 million a year prior. Revenue falls to $65.1 million from $103.2 million, cost of sales ebbs to $73.6 million from $77.4 million. ‘This year has been a challenging period for us and our stakeholders, with operational and market headwinds to navigate. Despite these hurdles, we have made significant strides in positioning the company for a stronger future. Our focus on advancing key projects, particularly the ramp-up at Kouroussa and the implementation of strategic initiatives at Yanfolila, is laying the groundwork for improved performance in the second half of the year and beyond,’ company says. Adds: ‘Looking ahead, our priority remains on delivering profitable production.’ ‘With Kouroussa nearing commercial production and the ongoing optimisation programme at Yanfolila, we are confident in delivering improved production in the last quarter of the year.’
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European Green Transition PLC - company focused on developing green economy assets in Europe - In the six months to June 30 pretax loss widens to £1.5 million from £267,807 a year prior. Bottom line hurt by £589,002 exceptional items compared to nil a year ago. Also, administrative expenses rise to £904,173 from £246,559. ‘The green economy continues to rapidly expand across multiple areas, and we are reviewing a large number of exciting revenue or near revenue stage opportunities across the green economy. Our robust cash position leaves us well placed to execute on this strategy and this could be further supported by future potential monetisation of our Olserum REE asset, as well as other assets within our existing portfolio of assets, as we look to develop a profitable, sustainable business in the green economy while aiming to generate value for our shareholders,’ company says.
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