TRADING UPDATES & EARNINGS: hVIVO expects interim revenue decline
The following is a round-up of updates and earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
----------
Headlam Group PLC - Birmingham, England-based floor coverings distributor - Reports continuation of ‘positive trends’ outlined in May, in the final two months of first-half trading. Notes a 0.6% on-year decline in revenue for June compared to 6.6% decline seen in January this year, with it reporting UK revenue and volume growth in June for the first time since early 2022. Says half-year revenue declined 3.8% on-year from £292.5 million, with UK revenue down 3.8% and revenue in continental Europe down 3.9%. Expects an underlying pretax loss of approximately £20 million, widening from £16.4 million. Says this reflects the delayed market recovery and consequential revenue decline. Anticipates its full-year results landing in line with market expectations owing to an ongoing improvement in its revenue profile, building on progress in the first half of the year. Reports net debt of £24 million at the end of June, swinging from net cash of £10.9 million at December 31.
----------
Nexteq PLC - Cambridge, England-based technology solutions provider to customers in selected industrial markets - Notes the continuation of order intake levels in line with its expectations in an update on trading for the first half of 2025. Expects its first-half results to align with market consensus, anticipating revenue of around $40.7 million, falling from $48.2 million a year earlier. Reports ‘excellent progress’ with the diversification of revenue, with Nexteq targeting new customers and focused on organic growth within its customer base. Net cash at June 30 was $28.1 million, down 24% from $36.9 million a year earlier. Expects revenue in the second half of the year to surpass the first half, returning to its historic revenue weighting pattern. Anticipates full-year revenue meeting market expectations of $85.5 million, representing a 1.4% decrease from $86.7 million achieved in 2024. Notes that second-half and full-year profits are anticipated to be in line with market expectations. Adds that it continues to evaluate strategic acquisitions with leverage. Expects to report its half-year results on September 10.
----------
hVIVO PLC - London-based contract research organisation testing vaccines for infectious and respiratory diseases - Expects revenue of £24.1 million for the first half of 2025, down 32% from £35.6 million a year earlier and in line with expectations of £47 million for the full-year. For 2024 as a whole, hVIVO reported revenue of £62.7 million. Anticipates half-year earnings before interest, tax, depreciation and amortisation margin of around 12.5%, falling from 24.5% a year earlier. Reports cash at June 30 of £23.3 million, down 37% from £37.1 million and notes a weighted contracted orderbook of £40 million at the end of June, down 44% from £71 million a year prior. Says its sales pipeline remains strong, noting ‘substantial opportunities’ across the group, with it in ‘advance discussions regarding a number of major HCT projects across a variety of pathogens.’ Notes that some sector-specific and macro headwinds persist, with its board confident ‘that the issues affecting the sector are transitory rather than fundamental.’ Expects to deliver low-single digit Ebitda loss before exceptional items for the full-year, improving on previous guidance of a mid-single digit Ebitda loss. Adds that a preferred candidate has been identified for the new independent non-executive chair, with an announcement set to be made in due course.
----------
B90 Holdings PLC - Isle of Man-based company in the online gambling industry - Reports strong performance in the first half of the year, with revenue and Ebitda up ‘significantly’ on last year. Last year’s figures were €1.4 million and €183,404 respectively. Says this reflects ‘continued momentum in B90’s transition to a lean, scalable, B2B-focused model.’ Anticipates full-year revenue and Ebitda at least in line with market expectations. Looking to the second half of the year, B90 says it is focused on scaling the existing business as partner revenue grows, as well as further diversifying its marketing channel mix. Notes that early adoption of AI and high levels of automation continue to underpin performance. Adds that it remains confident in delivering another year of material revenue and Ebitda growth. ‘B90 is no longer just a turnaround story; it is now a technology-led B2B marketing growth story. Strong year-on-year growth confirms that our pivot from B2C gambling operations to a leaner, B2B-led model is working. Our first-half results represent clear progress and position us well for the remainder of the year,’ says Executive Chair Ronny Breivik.
----------
eEnergy Group PLC - London-based net zero energy services provider - Revenue rises 67% to £10.1 million in the six months to June 30 from £6.0 million a year earlier, with it narrowing its loss before tax to £1.9 million from £4.9 million. Administrative expenses fall 27% to £3.9 million from £5.4 million, further supporting the bottom line. Says it enters the second half of the year with ‘renewed purpose at an inflection point: a strong sales pipeline, a strengthened operational delivery platform, a reduced cost base and the right management team in place to deliver improved results.’ Notes that the pipeline of solar opportunities has ‘never been higher’, supporting sales pipeline conversion in the second half of the year. Adds that current trading remains in line with management expectations for the full-year, with it ‘well positioned to drive further growth and capitalise on market opportunities in H2 2025.’
----------
Parkmead Group PLC - Netherlands and UK-focused gas explorer - Successfully concludes all post-completion tasks on sale of its UK offshore petroleum licences to Serica Energy PLC through the sale of subsidiary Parkmead E&P Ltd. Notes this is worth up to £134 million. Says attention is now focused on delivery of greener energy, with the Parkmead E&P disposal marking a ‘significant step’ in the recalibration of its portfolio. Reports a ‘strong’ financial position, with cash of approximately £13 million at June 30, up from £6.8 million at December 31. Says it continues to advance its stake in Glenskinnan Renewable Energy Park, with the integrated scheme being designed to deliver up to 98 megawatts of ‘wind generated electrical capacity across 14 turbines, alongside 20 MW of solar PV and 30 MW of battery storage.’ Reports average net production at its Dutch fields of 155 barrels of oil equivalent per day during the first half of the year, with several new drilling targets under evaluation to boost future production. Adds that Kempstone Hill will farm continued to perform well in the first half, with operational efficiency over the last 12 months in the range of 96% to 99%. Adds that it is containing to mature ‘a range of high-impact investment and acquisition opportunities.’ Executive Chair Tom Cross adds: ‘Parkmead has made strong progress across all elements of the business in the first half of 2025. We have completed the sale of our UK offshore-focused subsidiary, delivered solid operational performance from our onshore producing assets, advanced our flagship renewable energy project at Glenskinnan, and achieved a very healthy and robust financial position.’
----------
Copyright 2025 Alliance News Ltd. All Rights Reserved.