EARNINGS: Focusrite doubles interim profit; PACSCo back on AIM
The following is a round-up of earnings of London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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International Biotechnology Trust PLC - investment trust focused on biotechnology companies - Says net assets rose 50% to £374.6 million in the 12 months to the end of August from £249.4 million a year earlier. NAV per share stood at 1,183.33 pence, up from 739.48 pence. NAV total return was 64.7%, outperforming the NASDAQ Biotechnology Index for the fifth consecutive year, which returned 52.3%. The biggest contributor to performance was uniQure NV. International Biotechnology Trust says 13 of the companies in its portfolio were acquired during the year, and the trust expects the wave of mergers to continue.
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Focusrite PLC - High Wycombe, England-based software company - Says pretax profit doubled to £9.6 million in the six months to August from £4.8 million a year earlier. Diluted earnings per share increased to 12.8 pence from 6.2 pence. Revenue rose 2.6% to £90.3 million from £88.0 million. Focusrite declares an interim dividend of 2.16 pence, up from 2.10 pence a year earlier. Net debt narrowed to £1.5 million from £10.8 million. Chief Executive Tim Carroll says: "Trading since the period end has been encouraging, with healthy underlying demand across both [Content Creation and Audio Reproduction] divisions. As previously indicated, revenue and profitability are expected to be more heavily weighted towards the first half, whilst noting this impact, our performance to date gives us confidence in meeting market expectations for the full year." Current market forecasts for financial 2027 expect revenue between £170.1 million and £173.7 million; adjusted earnings before interest, tax, depreciation and amortisation of £25.2 million to £27.4 million; adjusted operating profit of £15.6 million to £17.5 million.
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PACSCo Ltd - cash shell previously focused on investment and sustainable development in Southern Africa - publishes its results for the year ended March 31 and restores trading on AIM on Tuesday. In financial 2026 the company had no revenue. Pretax loss narrowed to USD239,000 from USD1.6 million a year earlier, primarily due to lower finance costs, which stood at USD4,000. A year earlier, finance expenses were USD1.4 million, which PACSCo says resulted from settlements of borrowings as part of the company's disposal of its Mozambique agricultural businesses.
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