EARNINGS: Motorpoint ups dividend; Ten Technologies in record profit
The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Motorpoint Group PLC - Derby, England-based vehicle retailer - Motorpoint has doubled its interim dividend and says "strong momentum" has continued into the second half of its financial year. Pretax profit in the six months to September 30 jumped 81% year-on-year to £6.5 million from £3.6 million a year prior. Revenue rises 6.0% to £686.7 million from £647.7 million a year earlier. "Record retail volumes, up 7.6%, and gross profit growth of 11.9% demonstrate our continued outperformance of the used car market. Our integrated platform is improving profitability per vehicle, delivering a record metal margin in the half and reducing customer acquisition cost. Our highly engaged team continues to give customers outstanding choice, value and quality," Chief Executive Officer Mark Carpenter says. "Strong momentum has continued into the second half, and I am confident that Motorpoint is well positioned to keep growing market share and to deliver sustainable value for shareholders." Motorpoint lifted its interim dividend to 2.0 pence per share from 1.0p.
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Ten Technologies Group PLC - London-based customer experience and loyalty platform for financial institutions - Ten Technologies reports "record" annual earnings. Pretax profit in the year ended August 31 rises 17% to a record level of £3.4 million from £2.9 million, with revenue up 6.0% to £73.8 million from £69.6 million. Ten Technologies achieves adjusted earnings before interest, tax, depreciation and amortisation of £16.1 million, a record high, up 10%. "Trading since the year end has been in line with current market expectations for 2027, with the group on track to deliver higher net revenue and improved profitability, versus the prior period," Ten Technologies says.
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Daniel Thwaites PLC - Lancashire, England-based pub and hotel chain - Daniel Thwaites hails "brisk trade", supported by the football World Cup and hot summer weather. In the first half to September 30, pretax profit rises 18% to £9.8 million from £8.3 million, with revenue climbing 3.9% to £69.3 million from £66.7 million. "The company has traded well in an uncertain environment and delivered steady growth in the first six months of the year. The periods of good weather, and the football World Cup have delivered brisk trade. Margins have been maintained despite inflationary headwinds, which have contributed to a growth in profits and earnings per share," it adds. "Whilst we continue to face several headwinds, none of which are unique to us, the company has performed well and has several opportunities to invest for the future, create opportunities and new employment, particularly for young people, and contribute to the growth of the economy." Daniel Thwaites says its strong start to the year has "tailed off into the weaker months of September and October" and it is cautious about its outlook over the remainder of the financial year. The company lifts its interim dividend to 1.0 pence per share from 0.95p.
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Castings PLC - Brownhills, England-based iron casting and machining company - Pretax profit plunges 59% to £2.0 million in the six months to September 30 from £5.0 million a year earlier, while revenue slips 1.8% to £85.9 million from £87.6 million. Says profit was hit by a two-month power outage at its William Lee foundry, which restricted production and resulted in higher labour and transport costs. Says demand for heavy trucks, which accounts for around 70% of group revenue, remains strong. Declares an unchanged interim dividend of 4.21 pence per share. Expects full-year results in line with recently revised market expectations, which it puts at adjusted pretax profit of £9.0 million. Its pretax profit in the prior financial year was £10.3 million.
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PipeHawk PLC - Cinderford, England-based engineering solutions for utilities, government and rail industries - It reports a narrowed pretax loss of £283,000 for its financial year, from £310,000, despite revenue falling to £1.8 million from £3.7 million. It reports a £657,000 profit from the sale of Utsi Electronics Ltd, as well as an exceptional gain of £277,000 on the disposal of Adien Ltd and Wessex Precision Ltd. The Adien unit is down as a discontinued operation after it entered administration and sold its shares in Utsi and Wessex Precision. "PipeHawk is committed to technologies and products that unite the goals of customer value and sustainable development. Despite wider current market conditions, the group is currently performing well, and I remain optimistic in my outlook for the group," Executive Chair Gordon Watt says.
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