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The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: ---------- Castelnau Group Ltd - Guernsey-based closed-ended investment company - Reports net asset value per share of 98.3 pence at December 31, up 35% from 72.6p a year earlier. NAV total return for 2024 was 35.4%, outperforming the FTSE All-Share’s 9.5% return. Share price return for the year was around 25%. Profit before tax was £81.9 million, swinging from a £7.8 million loss in 2023. Says performance was primarily driven by Valderrama Ltd, which accounted for 83% of gross asset value at year-end. No dividend declared for 2024, unchanged from 2023. ---------- Norcros PLC - Wilmslow-based supplier of bathroom and kitchen products - Expects underlying operating profit for the year ended March 31 to be in line with market expectations. On a constant currency like-for-like basis, group revenue is expected to be marginally ahead of the prior year. Reported revenue, however, is expected to decline 6.2% to around £368 million from £392.1 million. UK like-for-like revenue rose 1.0% despite weak demand, while reported UK revenue fell 9.1% following the May 2024 sale of Johnson Tiles UK. South Africa revenue rose 1.3% on a reported basis. Net debt at year-end was around £37 million, flat on the year. Launches strategic review of Johnson Tiles South Africa due to market challenges; decision expected by July. Full-year results due June 12. ---------- hVIVO PLC - London-based contract research organisation testing vaccines for infectious and respiratory diseases - Reports ‘record’ revenue of £62.7 million for 2024, up 12% from £56.0 million a year earlier. Pretax profit rises to £13.3 million from £11.1 million, while earnings before interest, taxes, depreciation, and amortisation increases 26% to £16.4 million. Ends year with cash of £44.2 million, up from £37.0 million. Announces final dividend of 0.2p per share, unchanged from prior year. Orderbook at year-end stood at £67 million. Expects 2025 revenue of £73 million. Confirms Chair Cathal Friel will step down at the 2025 annual general meeting. Reiterates goal to reach £100 million in revenue by 2028. ---------- US Solar Fund PLC - London-based renewable energy fund focused on utility-scale power plants in North America - Reports a ‘challenging’ 2024, with net asset value per share falling to $0.63 from $0.78 a year earlier and NAV total return turning negative 13.4%, compared to negative 1.7% in 2023. Attributes decline to wider discount rates and market uncertainty following the US election. Declares total dividend of 2.25 US cents for 2024, with a fourth-quarter payout of 0.57 cents per share. IFRS loss narrows to $34.8 million from $43.1 million. Completed an $18.6 million tender offer in June and reduced its revolving credit facility to $20 million. Chair Gill Nott says operational efficiencies are underway and refinancing of senior debt is expected by end of April. Urges shareholders to vote against a proposed wind-up at the May AGM. ---------- Marks Electrical Group PLC - Leicester, England-based electrical products retailer - Reports record revenue of £117.2 million for the year ended March 31, up 2.6% from £114.3 million the year before. Expects adjusted Ebitda of around £4.2 million. Says gross margin maintained in the second half, supported by improved distribution and lower marketing costs. Ends year with net cash of £8.8 million, up from £7.8 million. Consumer Electronics volumes jumped more than 50%, while Major Domestic Appliances rose over 5%. Says margin improvements in the second half and a strong March exit rate of 6.6% support its outlook. Plans to focus on premium offerings to support margin recovery in financial 2026. Reiterates confidence in long-term strategy and expects further improvement in cash position. ---------- Dekel Agri-Vision PLC - West Africa-focused agricultural company - Says palm oil revenue in first qurater 2025 is set to be over 45% higher year-on-year, as stronger prices offset a 4.6% dip in crude palm oil output. CPO sales rose 11% and average selling prices jumped 27% to €968 per tonne. Palm kernel oil sales surged 217%, with average prices up 66% to €1,217. In the cashew segment, raw nut processing rose 220% and cashew output climbed 322%. Peeled cashew prices jumped nearly 79% to €5,800 per tonne. Dekel says cashew unit is on track to post its first full-year Ebitda profit in 2025. ---------- Surgical Innovations Group PLC - Leeds, England-based surgical and medical instrument manufacturer - Expects to report ‘revenue’ of at least £11.8 million for 2024 and adjusted Ebitda in a range of £0 to £400,000. Says it remains on track to publish full-year results in May. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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