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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Pod Point Group Holdings PLC - London-based electric vehicle charging network operator - Notes two areas that will adversely impact adjusted earnings before interest, tax, depreciation and amortisation for financial 2024. First, identifies debtor balances that company is no longer certain it will collect, related to years 2020 to 2024. Will take a bad debt provision to cover these. Second, identifies additional non-cash items through the audit processes. Consequently, adjusted Ebitda loss will be below market guidance of £14 million by around £8 million, the majority relating to the bad debt provision. Says since the start of the year, the group has made good progress on collections, with additional recruitment into the credit collection team. The debtor collection process is now operating normally.
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UK Oil & Gas PLC - London-based energy company - New Reserves Report carried out for the Horndean field operator has assessed that the field’s remaining reserves have increased by up to 62% compared to the same period one year ago. UKOG’s wholly owned subsidiary UKOG GB holds a 10% non-operated interest in Horndean. The increase in reserves is a direct result of increased field performance via the combination of recent well workovers and the prior installation of new electric pumps in mid-2023.
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Everyman Media Group PLC - London-based premium cinema chain - Revenue climbs 18% to £107.2 million in the financial year to January 2 from £90.9 million a year prior. But pretax loss widens to £10.2 million from £5.5 million. Bottom line is hurt by increase in administrative expenses to £72.9 million from £58.8 million. Food and beverage spend per head rises 3.4% to £10.64 from £10.29 and paid for average ticket price increases 2.8% to £11.98 from £11.65. Reports positive momentum in the first quarter of 2025, with trading driven by Bridget Jones: Mad about the Boy.
‘Confident of strong performance in 2025 underpinned by a well-balanced, consistently-phased film slate.’
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Futura Medical PLC - Guildford, Surrey-based sexual health products - Swings to pretax profit of £1.3 million in the 2024 from £7.0 million loss a year prior as revenue soars to £13.9 million from £3.1 million. ‘FY24 was another year of achievement. We delivered on all of our strategic priorities for the year. With the launch of Eroxon, a brand-new consumer healthcare product, in over 15 countries across the Americas, Middle East and Europe we took great steps forward and delivered significant revenue growth and our maiden profit,’ company says. Looks ahead with confidence.
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Henderson Far East Income Ltd - investor in companies in the Asia Pacific - Net asset value per share is 216.48 pence at February 28 compared with 221.97p at August 31, 2024. Net assets stable at £363 million compared with £366 million in August. Declares second interim dividend of 6.20p per ordinary share, up 1.6% on-year. Says dividend growth will remain robust and this, and the ‘defensive nature of our holdings should produce a less volatile outcome for investors in a market that is looking increasingly uncertain’.
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J Smart & Co (Contractors) PLC - Edinburgh-based construction contractor - Pretax profit falls to £128,000 in the six months to January 31 from £205,000 a year prior, despite revenue rising to £9.0 million from £8.6 million. Declares unchanged dividend of 0.96 pence per share. Says it is difficult to predict what the headline profit will be for the year to July 31, given global uncertainty and fragile UK economy. Notes consumer confidence in the housing market had started to improve, but in the short term this may stall again. Remains to be seen whether current reservations will convert and what the level of new reservations will be.
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Kooth PLC - London-based provider of digital youth mental health care - Swings to pretax profit of £9.9 million in the year ended December 31 from loss of £2.0 million a year prior as revenue doubles to £66.7 million from £33.3 million. Basic earnings per share are 0.22 pence compared with LPS of zero. Revenue growth is primarily driven by contracts with the state of California and supplemented by Aetna Illinois. Describes 2024 as an ‘exceptional year’, although it has been challenging in the UK. ‘As 2025 progresses, we expect that Ebitda margins will return to more typical levels as we invest in and expand our practitioner network,’ Kooth says.
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tinyBuild Inc - Seattle, Washington-based video game developer and publisher - Pretax loss narrows to $20.3 million in the twelve months ended December from $63.5 million a year prior. Revenue drops 22% to $34.7 million from $44.7 million. Expects cash and cash equivalents to reach a trough point in the summer of 2025 and then improve post the launch of certain high-potential new games. Says cash position will be ‘carefully managed’ and company has no borrowings. Notes the pipeline for 2025 and beyond is strong and remains confident the company is on track to deliver results in line with expectations.
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