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The following is a round-up of earnings updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: ---------- Headlam Group PLC - Birmingham, England-based floor coverings distributor - Pretax loss widens to £31.8 million for the six months that ended June 30, from £19.7 million a year earlier. Revenue falls 4.6% to £244.7 million from £256.4 million, with the company also facing higher costs. Distribution costs rise 4.9% to £63.5 million from £60.6 million, and administrative expenses increase 23% to £41.1 million from £33.5 million. Notes a cumulative decline in the flooring market, and says operating costs were controlled well. Says early benefits are being realised from its transformation plan, with these more than offsetting inflationary pressures such as national minimum wage and the increase in national insurance contributions. ‘We have made good progress on the transformation plan so far, significantly simplifying the Group and its infrastructure and processes. The benefits have started to be realised towards the end of the first half and will accelerate through the second half of the year. Whilst the lead indicators for consumer spending on home improvements are more positive, the flooring market has continued to decline, and the timing of recovery remains uncertain,’ says Chief Executive Chris Payne. ---------- Corero Network Security PLC - London-based cybersecurity firm specialising in distributed denial of service protection - Reports widening of pretax loss for the six months that ended June 30, to $2.4 million from $217,000 a year earlier. Driving this weakness is a mix of lower revenue and higher costs. Its top line contracts 10% to $10.9 million from $12.2 million, while operating expenses grow 8.0% to $12.3 million from $11.4 million. Ties the increased expenses to the expansion of sales team resources, with the weaker revenue owed to lower first half order intake and a rise in DDPaaS order mix. Says it is well-placed to expand revenues with current customers and to develop its pipeline across the second half of the year. Backs revised annual guidance from July of revenue between $24.0 million and $25.5 million, and earnings before interest, tax, depreciation, and amortisation between $1.5 million loss and break-even. ‘The company is focused on delivering revenue growth in the second half of 2025 over the prior year by continuing to build the new business pipeline and expanding our global partner network.,’ says CEO Carl Herberger. ---------- EKF Diagnostics Holdings PLC - Cardiff-headquartered medical diagnostics company - Pretax profit rises 8.0% to £3.6 million in the six months to June 30, from £3.1 million a year prior. Revenue rises 0.1% to £25.24 million from £25.21 million, complemented by a 4.4% decline in cost of sales to £12.6 million from £13.2 million. Finance costs also improve, falling 57% to £48,000 from £111,000. Backs annual guidance from July, with it expecting growth in revenue and adjusted Ebitda in line with market expectations of £53.6 million and £12.4 million respectively. ‘The key drivers of our performance have been sales of our ²-HB LiquiColor reagent and the successful ramp up in sales of our hematology analyzers, and we expect to see a further strong performance from these lead product lines in H2 2025,’ says Executive Chair Julian Baines. ---------- Kromek Group PLC - Sedgefield, England-based detection technology supplier - Kromek’s pretax profit for the year to April 30 amounts to £3.1 million, ahead of market expectations, and swinging from a £3.5 million loss. The bottom line was ‘positive for the first time in the history of Kromek’, the company notes. Revenue increases 37% to £26.5 million from £19.4 million, with Advanced Imaging revenue more than doubling to £20.3 million from £9.0 million. However, CBRN Detection revenue fell 57% to £6.2 million from £10.4 million as it noted ‘subdued demand’ in the first half tied to elections in the UK and US, but with a ‘strong recovery in H2’. Anticipates further revenue growth and profitability in the new financial year, in line with market expectations, and reflecting ‘sustained progress’ across both the Advanced Imaging and CBRN Detection divisions. ‘This year has been pivotal for Kromek, marked by our maiden profit, which exceeded market expectations, and a significant reduction in debt.... With a strengthened balance sheet and strong operational momentum, we are well-positioned to capitalise on growth opportunities across both divisions and drive sustained, long-term profitable growth,’ says CEO Arnab Basu. ---------- tinyBuild Inc - Seattle, Washington-based video game developer and publisher - Swings to pretax profit of $3.6 million in the first half of 2025, from a $6.6 million loss a year earlier. Revenue edges up 1.3% to $17.0 million from $16.8 million, but with the improved bottom line owed to significant cost reductions. Cost of sales fell 52%% to $6.6 million from $13.7 million, and administrative expenses fell 31% to $7.3 million from $10.6 million. Operating income also improved, multiplying to $500,000 from $137,000. Looking ahead, says it remains confident in delivering results ahead of expectations at the adjusted Ebitda level. ‘tinyBuild has rocked so far in 2025, and I really want to thank our people for the amazing achievements. We currently have 4 titles on the Steam Top100 Wishlist chart, a new record, and the second edition of TinyBuild Connect reaffirmed our position as a leading developer publisher in the global landscape,’ says CEO Alex Nichiporchik, adding that ‘’In a slowly-improving environment, our strategy to invest cautiously in new own-IP with a diversified approach of higher and lower budget is showing good results. We can look to the future with cautious optimism.‘ ---------- Springfield Properties PLC - Elgin, Scotland-based based housebuilder - Pretax profit rises 97% to £19.0 million in the financial year to May 31, from £9.7 million a year earlier. Driving this advance was top line growth, as revenue improved 5.3% to £280.6 million from £266.5 million. Lower finance costs further supported the bottom line, down 26% to £5.5 million from £7.5 million. Lifts its dividend for the financial year, doubling it to 2 pence from 1p. The company says it is ’very excited‘ about the significant prospects in the North of Scotland, with it expecting to deliver revenue growth for financial 2026 on an underlying basis, excluding the exceptional contribution to financial 2025 revenue from the land sales to Barratt Redrow PLC. Land sales revenue during the period jumped to £60.5 million from £28.1 million the prior year. ’I am pleased with what we achieved this year and how we have positioned ourselves for greater success going forward. We accelerated the reduction of our bank debt and delivered an increase in both profit and revenue, despite sales continuing to be impacted by subdued market conditions. We have made the decision to refocus our strategy to capitalise on the substantial opportunities in the North of Scotland driven by incoming energy security infrastructure and renewable development,‘ says Chief Executive Innes Smith. ---------- US Solar Fund PLC - London-based investment firm focused on North American solar power plants - Net asset value rises to $200.5 million at June 30 from $194.2 million at the end of 2024. NAV per share improves 3.2% to 65 US cents from 63 cents. Says NAV movements during the period were influenced by a range of factors, including changes in certain tax and macroeconomic assumptions and discount rates, as well as changes in merchant curves. Lifts its target dividend to $0.035 per share from $0.0225 taking effect in the third quarter of this year, and owing to forecast improvements in total cash dividend coverage resulting from the refinancing. Notes it secured new senior debt facilities totalling approximately $166 million during the period. Adds that changes implemented by US President Donald Trump designed to reshape energy policy have created widespread uncertainty in the US renewable market, ’and in the near-term will be likely to continue to impact market confidence and constrain near-term US renewable energy development below levels previously anticipated.‘ ---------- Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion company - Pretax loss widens to £1.8 million for the six months to June 30, from £1.2 million a year earlier. Revenue however improves 23% to £474,879 from £385,711. Administrative expenses drive the bottom line weakness as they more than double to £1.7 million from £733,981. Notes that these expenses include £947,000 in share-based payments. ’PHE started 2025 with continued momentum. Our business strategy continues to play to the Company’s strengths with our strong knowledgeable executive team, and the most consistent and stable board the business has had, committed to growing the business,‘ says Non-Executive Chair David Hitchcock, adding ’The second half of the year promises to be another exciting one for PHE as we look forward to advancing the projects from our pipeline of opportunities whilst further maximising the benefits of having a fully operational technology centre which we believe will undoubtedly help provide even greater impetus to our pipeline whilst further innovating the services that we can provide customers.‘ ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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