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EARNINGS: Motorpoint annual profit jumps; Vp swings to loss

ALN

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 car retailer - The firm hails an ‘excellent’ financial year. Pretax profit in the year to March 31 surges 83% to £7.5 million from £4.1 million the year prior, with revenue up 8.1% to £1.27 billion from £1.17 billion. ‘The group had an excellent year in FY26, and I am delighted to report record sales volumes and an 83% increase in profit before taxation. FY26 has been a step change year for Motorpoint, where the use of data became fundamental within the business and we embraced the tangible benefits of AI. This progress deepens our competitive moat and provides the necessary foundation for the group to expand further and significantly grow profitability in the years ahead. Our strong progress has continued in the first few months of FY27,’ Chief Executive Officer Mark Carpenter says. ‘We again significantly outperformed the wider used car market, demonstrating that our superior proposition, which is to make car buying easy, continues to resonate strongly with customers. Our strategic investment in technology and the use of data and AI, combined with the quality of service provided by our exceptional team, has enabled us to sell more vehicles at good metal margins and provide our customers with a seamless car buying experience.’ Motorpoint lifts its total dividend to 2.2 pence per share from 1.0p.

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Vp PLC - Harrogate, England-based equipment rental company - Vp reports an annual revenue decline and a swing to loss, but it holds its dividend. It swings to a pretax loss of £7.0 million for the year ended March 31, from profit of £21.7 million the year prior. Revenue falls 5.7% to £358.3 million from £380.0 million. ‘The year ended March 31, 2026 has been one of both progress and challenge. We delivered a resilient performance, against a tough macro-economic environment. Our diverse and increasingly collaborative businesses are driving sector-leading returns. I am encouraged by the strength of the group and the commitment demonstrated by our people, who responded decisively and effectively in a challenging market context,’ Chief Executive Officer Alice Woodwark says. Vp maintains its final dividend at 28.0 pence per share and its total payout at 39.5p. Looking ahead, the firm says: ‘Vp continues to experience challenging market dynamics as it enters the new financial year, with UK construction activity particularly sluggish. However, the group expects an improvement in year-on-year trading in FY27 driven by the restructure of Brandon Hire Station, investment in its digital roadmap and other Vp-wide capabilities, and improved demand across core infrastructure markets.’ It expects results for the new year in line with current market expectations, which it puts at £352.1 million for revenue and £33.1 million for adjusted profit.

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H-Power PLC - Cranleigh, England-based provider of hydrogen power-generation technologies - Pretax loss in six months to April 30 narrows to £7.3 million from £11.7 million a year prior, while revenue rises to £253,000 from £17,000. Operating costs shrink to £7.7 million from £11.7 million. ‘During the first half and post-period end, the business has continued to make considerable progress in line with the board’s expectations and begun to build positive commercial momentum. These successes further validate the significant value of our intellectual property, our ability to deliver to the timescales committed to and the clear realisation of end customer demand. Together with our strong balance sheet and a building order book, we remain confident of delivering scalable commercial success and creating significant value for our shareholders and stakeholders,’ Chief Executive John Wilson says. In addition, H-Power says it has signed a deal for the sale of two LC30s fuel cell generators to Machinery Group LLC, for operation in Saudi Arabia. ‘Upon successful delivery under the agreement, H-Power believes that this partnership between H-Power and TAMGO has the potential to deliver significant future H-Power revenues from our LC30 fuel cell generators across Saudia Arabia and GCC countries, in which TAMGO is H-Power’s exclusive distribution partner for fuel cell generators,’ H-Power adds. What’s more, it sells 5,000 kilograms of fuel cell grade green hydrogen, produced by its pilot ammonia cracker plant, to Protium. ‘This is the first commercial sale of bulk hydrogen to a third-party customer from cracked ammonia in the UK,’ H-Power says.

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TwentyFour Select Monthly Income Fund Ltd - invests in less liquid securities across the global credit markets - Net asset value per share at March 31 half-year end shrinks 4.1% to 82.51 pence from 86.06p in September. ‘The portfolio manager remains cautious yet constructive on credit, cognisant of market volatility in an uncertain geopolitical environment, and the impact that may have on certain borrowers and default rates,’ it says. ‘However, with active management and a selective approach to investing, the board is confident the company is well placed to continue to deliver a sustainable income to investors by allocating to higher quality assets that can be underwritten throughout the cycle and deliver an attractive yield.’ As a result, it expects a full-year dividend above 6.5p per share, topping its 6p target.

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Intuitive Investments Group PLC - invests in technology and life science companies - Net asset value per share at March 31 half-year end amounts to 207.5 pence, rising 38% from 150.3p in September. ‘The period has been characterised by significant operational progress at Hui10 Inc, the company’s most significant investment,’ Intuitive Investments says. Intuitive Investments reports pretax profit of £156.0 million, swinging from a loss of £91,000 a year prior. It reports a £155.4 million gain on investments at fair value. In April, Intuitive Investments Group said it agreed a possible reverse takeover deal with Acceler8 Ventures. It values Intuitive at £600 million. Under the agreement, shareholders in Intuitive Investments will receive 2.6052 Acceler8 Ventures shares for each one in IIG held. Intuitive adds: ‘The board believes this represents a significant strategic milestone, creating a structure that better reflects the group’s operating business, broadens access to institutional investors and supports the long-term objective of delivering enhanced value for shareholders.’

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