The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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LPA Group PLC - Saffron Walden, Essex-based engineering firm focused on electronic and electro-mechanical components and systems - Pretax loss widens to £475,000 for the six months to March 31, from £400,000 a year prior, as revenue drops 18% to £9.5 million from £11.6 million. Underlying operating loss deepens to £1.1 million from £349,000. However, order entry doubles to £17.0 million from £8.0 million, with the order book rising to £32.8 million from £28.0 million. Chair Robert Horvath says: ‘Notwithstanding challenging conditions, I am pleased to report that our order intake exceeded our expectations for the first half of the financial year proving that demand for our product solutions remains robust. We continue to make progress in strategically repositioning the Group and its customer base, with aviation, aerospace and defence now representing 31% of our business.’
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First Property Group PLC - property fund manager and investor in UK and Central Europe - Swings to a pretax profit of £3.0 million in the year to March 31 from a £4.4 million loss a year prior, aided by lower impairment charges and a £1.7 million valuation uplift in its stake in Fprop Phoenix Ltd. Revenue edges down to £7.6 million from £7.9 million. Total assets under management fall to £220 million from £274 million, with third-party AuM down to £164 million. Net debt improves by 15% to £19.6 million, and cost-cutting delivered £650,000 in annualised savings. Chief Executive Officer Ben Habib says the group is near the bottom of the property cycle and expects improving fortunes.
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Tooru PLC London-based investment company Narrows pretax loss in 2024 to £1.0 million from £5.3 million the year before, as net loss from financial instruments falls to £721,000 from £4.7 million. Investment income drops to £203,031 from £391,151. Ends year with £2.4 million in cash and £4.2 million in net assets, down from £5.2 million. Portfolio includes stakes in Smarttech247 Group PLC and Mindflair PLC. Post year-end, completes acquisition of S-Ventures assets and becomes an operating company focused on wellness, with brands including Pulsin, Juvela and Purely.
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Hargreave Hale AIM VCT PLC - venture capital trust investing in AIM-listed stocks in London - Reports net asset value per share at March 31 of 34.48 pence, down from 40.55p at September 30, with a NAV total return of negative 8.2% for the half-year, compared to a negative return of 2.6% the year prior. Declares interim dividend of 0.75p per share and a special dividend of 0.50p. Portfolio company BAE Systems PLC performs well amid sound defence spending outlook, but weak end markets and the Autumn 2024 UK budget weigh on holdings like Bodycote PLC. Deal flow is slowly improving, but UK fund flows remain negative. Notes the AIM market has performed strongly since the ’Liberation Day’ ‘correction’.
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