EARNINGS: Angling Direct stands by consensus after half-year growth
The following is a round-up of earnings reports by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Angling Direct PLC - Norwich, England-based fishing tackle and equipment retailer - Revenue for the six months ended July 31 totals £56.4 million, up 5.1% from £53.6 million the year before. Pretax profit rises 7.9% to £3.1 million from £2.9 million. Adjusted pretax profit rises 11% to £3.3 million from £3.0 million, while adjusted earnings before interest, tax, depreciation and amortisation rise 12% to £4.3 million from £3.9 million. Total UK sales increase 6.9% to £54.6 million, while European sales fall 30% to £1.8 million. On a like-for-like basis, total UK sales grow 2.9% to £51.9 million, which the firm says reflects the strength of its omni-channel proposition in a consolidating market. Says group revenue is up 11% for August and September, with UK LFL sales growing as it "continues to acquire new customers from store based competitors who are unable to continue trading in the current environment." Confirms that it is trading in line with full-year market guidance, citing consensus of £109.1 million in revenue and £5.7 million in adjusted Ebitda. For the prior year, it reported revenue of £103.9 million and adjusted Ebitda of £4.8 million.
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Abingdon Health PLC - York, England-based life sciences firm focused on rapid diagnostic tests - Reports results for the year ended June 30. Total revenue, including grant income, rises 32% to £11.3 million from £8.6 million the year before. Reported revenue grows 30% to £11.0 million from £8.4 million. Contract development revenue jumps 56% to £5.0 million from £3.2 million, and is "the main driver" of Abingdon's "strong" performance in the second half. Pretax loss narrows to £2.0 million from £3.5 million. Adjusted Ebitda loss narrows to £1.5 million from £2.6 million, and the firm says it was "trading profitably at the adjusted Ebitda level in H2". "We have good visibility and a solid foundation of contracted revenue as we enter the new financial year and we are now attracting longer duration, larger value work to the group," comments Executive Chair Chris Hand. "That said, we have experienced some short-term delays since June on a number of programmes due to a combination of factors...and some previously active projects have been replaced by others as we move into FY27. This has resulted in certain revenue-generating activities in the first quarter of the financial year being delayed, and consequently we expect a significant second half weighting of revenue in FY27. We still expect to deliver significant growth in FY27 and beyond." He adds that Abingdon expects "continued revenue growth" to result in "an improved Ebitda position" for the year ending June 30 as a whole.
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Aptamer Group PLC - York, England-based synthetic binders developer - Reports results for the year ended June 30, with revenue rising 28% to £1.5 million from £1.2 million the year before. Adjusted Ebitda loss widens to £2.3 million from £2.2 million. Administration expenses grow to £3.2 million from £2.9 million. Pretax loss widens to £2.8 million from £2.6 million. Company recounts "significant commercial traction over the year, including repeat business with multiple top 20 pharmaceutical companies." Says it is now "moving these relationships onto multi-year, multi-target master service agreements, with several in advanced negotiation." Sales pipeline is £7.0 million at September 21, up from £4.8 million as of June 30. "This has been a year of inflexion for Aptamer," says Chief Executive Arron Tolley, who adds: "Our AI programme has progressed from a standing start to candidate validation in a matter of months, our manufacturing capacity has been expanded to support partners at commercial scale, and we are now building a therapeutic pipeline spanning RNAi delivery to multiple diseases and organs including fibrosis and kidney, along with radiopharmaceuticals. We enter the new financial year with recurring fee-for-service demand, growing licensing income, and multiple development programmes advancing in our own pipeline."
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