TRADE UPDATES: Ten record revenue from Lifestyle posts; Eckoh profit up | Update News

(Alliance News) – The following is a summary of the earnings update of London-listed companies, published on Wednesday and not published separately by Alliance News:

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Ten Lifestyle Group PLC – London’s lifestyle and travel services – revenues for the year to 31 August reach a record £46.8m, up 35% from £34.7m. Loss before tax decreases to £3.8m from £5.5m. The number of active members on the Ten platform increased by 36% to 275,000 from 203,000. “We expect demand and related revenue to continue to grow from current active members and “first time users” from our eligible member base. Regardless of the impact of economic conditions on individual member households, our corporate customers pay us to increase the exposure of their wealthiest corporate customers, with corporate banking customers typically seeing better profitability for these customers due to higher interest rates,” says Ten Lifestyle. He says he will meet the board’s expectations in the new financial year.

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Eckoh PLC – London-based secure payment and customer contact products – said the first half ending Sept. 30 traded as expected. Revenue rose by a third to £19.6m from £14.7m a year earlier. Profit before tax rose 23% to £2.9m from £2.4m. “This is a great set of results, showing the expected big progress in key areas,” says CEO Nik Philpot. “The customer engagement industry is already facing new security challenges with the continued shift to more remote working, and the deteriorating global economic environment is likely to only exacerbate the number of security threats. Organizations that ignore these threats do so to the detriment of their reputation and financial danger. We believe that our enhanced suite of security solutions will not only help businesses address these issues, but will significantly improve their engagement and customer satisfaction.” Eckoh expects an annual result in line with market expectations. The revenue consensus is £40.3m.

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Parkmead Group PLC – a natural gas exploration company in the Netherlands and the UK – Revenue more than tripled to £12.1m from £3.6m in the year ended 30 June. Parkmead says it has benefited from the “continued strength of gas prices”. Gas prices continued to rise from June, reaching €350 per megawatt hour in August before “normalising”. Parkmead makes a pre-tax profit of £4.0m, a company record, from a loss of £13.4m. “Parkmead maintains an appetite for energy acquisitions. The group is well positioned, with a strong balance sheet, to seize opportunities in this sector,” the company says.

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Equipmake Holdings PLC – UK manufacturer and developer of electrifying products for electric vehicle powertrains – Revenue from commercial and manufacturing contracts in the year ended 31 May rose 52% to £2.7m from £1.8m. Including grants, total revenue increased by 2.9% to £3.7m from £3.6m. Loss before tax increases to £5.2m from £1.6m as administration costs rose to £1.9m from £1.0m. It also records share-based payment charges of £574,227, compared to no charges a year earlier. “While we remain aware of the challenges, we are encouraged by the level of demand and interest in both our core bus markets and the neighboring markets we are exploring. Equipmake continues to be well positioned in these very favorable markets, with a strong electric vehicle market expected to grow in line with the ongoing global decarbonisation movement.

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Cardiff Property PLC – an investment and development company operating in the Thames Valley in the south of England – Net asset value per share at the end of September 30 is up 8.1% a year to £27.56 from £25.49. It raises its dividend by 11% to 20.5p a share from 18.5p. Profit before tax rose to £2.7m from £1.3m. Revenue, which is made up of gross rental income, rose to £703,000 from £596,000. “The real estate market in the Thames Valley saw a marked increase in activity in the financial year under review, with new leases and development sales reaching pre-pandemic levels. However, over the past few months, confidence has shrunk amid rising concerns about inflation and rising prices, interest rates and construction costs,” says chairman Richard Wollenberg. “Although the Thames Valley has historically remained resilient compared to the general market, the impact of current uncertainty cannot be underestimated.”

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Eric Cunha; [email protected]

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