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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Michelmersh Brick Holdings PLC - West Sussex, England-based brick maker - Reports a 36% drop in pretax profit to £8.0 million for 2024 from £12.5 million the year before, as revenue declines 9.3% to £70.1 million from £77.3 million. Cites a competitive pricing environment and reduced margins, with gross margin narrowing to 36% from 39%. Despite the weaker result, Michelmersh declares a total dividend of 4.60p per share, up 2.2% from 4.50p in 2023. The company says order intake remains ahead of manufacturing capacity and continues to run strong into the first quarter of 2025. Chair Tony Morris says the group maintains its market share and continues to outperform wider industry declines, adding that Michelmersh is ‘well positioned for 2025 and beyond’ thanks to its premium product offering and resilient balance sheet.
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CPPGroup PLC - Leeds, England-based technology-driven assistance and insurance provider - Narrows pretax loss to £2.7 million in 2024 from a £5.7 million loss the year prior, as operating loss improves to £2.8 million from £6.1 million. Revenue declines 10% to £156.4 million from a restated £173.4 million, reflecting the exit from legacy businesses. Core revenue, from Blink, CPP India and CPP Turkey, falls 7% to £155.1 million, though earnings before interest, taxes, depreciation, and amortisation from the core segment more than triples to £1.8 million from £500,000. Blink, the group’s parametric insurtech business, grows its annualised recurring revenue by 62% and adds 11 new clients. CPP says the outlook is positive, with further investment expected to support Blink’s expansion. CEO Simon Pyper says the company ends the year as ‘the business we set out to be’, having completed its change management programme and exited non-core assets.
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Personal Group Holdings PLC – Milton Keynes-based employee benefits and services provider – Posts a 34% rise in pretax profit to £6.8 million in 2024 from £5.1 million the year before, as revenue increases 13% to £43.8 million from a restated £38.6 million. Cites growth across all divisions, with insurance sales up 18% and customer retention above 80%. Declares a total dividend of 16.5p per share for 2024, up 41% from 11.7p. Says momentum has continued into 2025 and expects it to persist. CEO Paula Constant says Personal Group is now a ‘stronger business with a clear plan’ and aims to more than double revenue to £100 million by 2030.
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Regional REIT Ltd - the London-based real estate investment trust - Narrows pretax loss to £39.5 million in 2024 from £67.4 million the year before, as portfolio valuation declines 8.2% to £622.5 million from £700.7 million. Net loan-to-value improves to 42% from 55% following £110.5 million equity raise. Declares total dividend of 7.8p, up from 5.25p, and says dividend remains fully covered. Net asset value per share stands at 216.9p at year-end, down from 376.2p. Asset manager Stephen Inglis says balance sheet transformation enables capex programme to unlock portfolio value, though financial benefits may not materialise until 2026.
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Fairview International PLC - operator of international schools following the International Baccalaureate curriculum - Reports pretax profit of £545,000 for the six months to December 31, down from £1.4 million a year prior, reflecting one-off IPO expenses of £609,544. Revenue rises 4.8% year-on-year to £2.8 million from £2.7 million, supported by a 7% increase in average fees and growing student numbers. Gross margin slips to 50% from 54% due to higher marketing and scholarship costs. Chair Daniel Chian says momentum is building and outlines plans for expansion in the UK and Asia, with Fairview aiming to capitalise on rising demand for IB education.
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EKF Diagnostics Holdings PLC - Cardiff-headquartered medical diagnostics company - Pretax profit triples to £6.3 million in 2024, from £2.1 million in 2023, despite revenue for the year declining 4.6% to £50.2 million from £52.6 million, ‘reflecting the previously reported move away from lower margin products’. The growth was driven by administrative expenses, reducing 8.1% to £18.1 million from £19.7 million, and the firm recorded no asset impairment charges, compared to £961,000 in 2023. Exceptional items were down to £352,00 from £2.8 million, other exceptional items were down to £22,000 from £1.3 million a year prior, and depreciation & amortisation decreased 15% to £4.7 million from £5.5 million. ‘The 2024 results reflect the positive effects of our rationalisation process and the benefits that a more simplified business with greater commercial focus on higher margin products and services can bring to the group,’ says Chair Julian Baines. On Tuesday, EKF also named Chief Product Officer Gavin Jones as its new chief executive officer, effective immediately.
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Xaar PLC - Cambridge, England-based industrial inkjet manufacturer - Pretax loss widens to £11.4 million in 2024 from £2.7 million in 2023, as revenue falls 13% to £61.4 million from £70.2 million. Declares no dividend for the year. Revenue within its new Printhead business, grew 23% to £18.9 million from £15.4 million, but was offset by its Ceramics & Glass arm revenue halving to £7.5 million from £15.5 million. Engineered Print Systems revenue also reduced 27% to £16.1 million from £22.1 million amid ‘tough market conditions’ and the completion of a ‘substantial’ multi-year project. ‘Our key strategic milestones, notably in the areas of EV battery coating, automotive coating and desktop 3D, are setting the group up for sustainable medium-term growth and are all progressing as planned. Increasing market awareness of our value proposition also means that global market leaders are now approaching us to learn more about the benefits of high viscosity fluids,’ said Chief Executive Officer John Mills.
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