The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Technology Minerals PLC - London-based provider of technology for battery metals recycling - Pretax loss from continuing operations widens to £6.6 million in the year to June 30 from £4.3 million a year prior. Administrative expenses fall to £2.4 million from £3.9 million but impairment losses total £1.4 million versus nil. Also hurting the bottom line, other finance costs increase to £2.5 million from £394,000.
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Porvair PLC - environmental and specialist filtration technology company - Expects revenue growth of around 9% for the year ended November 30, with ‘adjusted earnings per share marginally ahead of market expectations’. Porvair achieved revenue of £176.6 million in financial 2023 and adjusted basic EPS of 37.2p. Net cash at the end of November 2024 is around £14 million.
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Ixico PLC - London-based medical analytics company - Signs contract with a new US headquartered client to provide imaging services for a phase 2 Huntington’s Disease clinical trial. The contract value, to be delivered over approximately 2.5 years, is worth over £500,000.
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Dianomi PLC - London-based digital advertising platform - Expects revenue for the year to December 31 to be broadly in line with market expectations at around £28 million and to record a small loss at adjusted earnings before interest, tax, depreciation and amortisation level compared to market expectations of a small profit. ‘While traffic across the group’s premium publisher base remains steady, the uplift from the US election was less pronounced than widely anticipated. Alongside this, demand from our premium advertiser base has been softer than expected,’ company says. Cash at the year end is expected to be in line with market expectations of £7.8 million and the company remains debt-free.
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Digitalbox PLC - Bath, England-based digital media company and owner of brands such as Daily Mash, The Poke, The Tab and TVGuide.co.uk - Expects revenue to be at least £3.5 million for the 12 months to December 31, with Ebitda ahead of management’s expectations. Says trading across Digitalbox’s six brands has been stronger than management anticipated in the second half of the year, which is the company’s biggest trading period. Audience volumes are strong and there has been an early encouraging performance from the group’s latest website launch, Emmerdale Insider.
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Cambridge Cognition Holdings PLC - Cambridge, England-based company developing and marketing digital brain health assessment solutions - Expects revenue to be not less than £10.0 million and adjusted Ebitda close to breakeven for year ending December 31. Notes greater revenue visibility into 2025 with a strengthened order book of £13.5 million and a growing sales pipeline of over £34 million. Cash is expected to be around £1 million at the year end and expected to increase during 2025. Notes the highest levels of both sales orders and book-to-bill ratio this year was recorded in October. But points out most of these orders will be recognised in 2025 or later. Continues to manage working capital carefully. Anticipates ‘value enhancing, sustained profitability in 2025 and beyond’. Furthermore, company says its search for a new chief executive has started. Matthew Stork stepped down as CEO in mid-September.
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Tortilla Mexican Grill PLC - Mexican restaurant chain - Says group trading is in line with management expectations for the year ending December 29. UK revenue is forecast to exceed previous guidance with a range of £64.0 to £64.3 million now expected. UK like-for-like in-store sales performance continues the strong recovery, from a decline of 4.2% in the first quarter and 2.7% in the second to a position of growth in the third quarter of 0.6% followed by a strong fourth quarter of at least 4%. Decides to delay rebrand of restaurants in France. This is likely to impact French profitability in 2025.
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Solid State PLC - Worcestershire-based electronics supplier for industry and defence - Pretax profit tumbles 80% to £1.2 million in the six months to September 30 from £6.1 million a year prior. Revenue falls 30% to £61.8 million from £88.1 million. Adjusted diluted earnings per share is 17.5 pence down 63% from 46.8p. ‘These results were impacted by challenging trading conditions, as well as the previously announced acceleration of revenues from our Systems division into the prior financial year,’ company explains. The pipeline of new design wins remains strong in all target markets, giving confidence that the underlying growth drivers in target markets remain. Planned overhead and capital investments in excess of £2.0 million in the Systems Division are progressing well. ‘Leading indicators, including the rate of design activity, suggests that the electronics market appears to have reached the bottom of the cycle, and this is reinforced by the improvement in order books since the period end,’ company adds. Confident of a ‘growth trajectory, whilst taking a cautious approach to short term earnings guidance and dividend policy to recognise some uncertainty on timing.’ Also cuts its dividend by 41% to 0.83p from 1.40p.
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