Results round-up
Shares in AIM-listed Lombard Risk Management soared to nearly 23% on Thursday, as the compliance and collateral management software provider reported an increase in half-year revenue, while it said it had not been affected by Brexit uncertainty.
For the six months ended 30 September, revenue rose 41.2% to £15.2m, compared to the same period the previous year, as sales were up 58% with software licence sales up 106%.
Due to a diverse split across regions globally the company said it has a natural hedge against any potential impact of from the uncertainty arisen from the Brexit vote, and to date it are yet to experience any impact on the business.
“European clients, who paused to reflect post the referendum result, quickly resumed normal project activities, and much of our sales are driven by non-negotiable regulatory timetables. The rest of our business is driven by banks' desire to reduce operational costs and risks, and again these pressures are only amplified by anticipation of the impact of Brexit on the European macro-economies.
“Were Brexit to introduce more diversity into the regulatory landscape, we would of course be beneficiaries, but at this time we consider that to be unlikely.”
Annual recurring revenue was up 22% to £6.1m, while the order book of contracted revenue climbed 35% to £9.2m.
Earnings before interest, tax, depreciation and amortisation rose to £1.5m from £500,000. Loss before tax narrowed 94% to £100,000 as the loss per share fell to 0.05p from 0.66p.
Cash at the end of September was £6.9m, up from £2.7m, with no debt.
In June the company raised £8m on AIM and an open offer raising £300,000 in July.
During the period the company launched a cloud-based collateral management system, AgileCOLLATERAL as the company invested in Birmingham offices.
The company’s strategic alliance with Oracle continued to develop with a further two sales of AgileREPORTER as part of the Oracle analytics suite closed in the half.
The company suspended dividends at the end of the period to 31 March due to the investment made during the growth phase of the business and does not intend to pay an interim dividend for this year.
Generic pharmaceutical products and active ingredients manufacturer Beximco Pharmaceuticals posted audited results for the half year to 30 June on Thursday, with net sales growing by 13.1% to BDT 7.07bn.
The AIM-traded firm’s export sales grew by 5.3%, and domestic market sales increased by 13.6% over the first half of 2015.
Profit before tax stood at BDT 1.32bn, a rise of 20.8% over the prior corresponding period.
Earnings per share for the period amounted to BDT 2.57.
“The past 18 month period has been remarkable for Beximco Pharma,” said managing director Nazmul Hassan.
“In addition to reporting excellent sales growth in both our domestic and export markets, we achieved a major milestone by becoming the first Bangladeshi pharmaceutical company to be approved by the US FDA.”
Hassan said the company subsequently received approval to manufacture Carvedilol, a prescription drug for treating hypertension, for the US.
Export of Carvedilol began in August 2016.
“We have a clear growth strategy to bring high quality, differentiated products to emerging and developed markets to create value for all our customers and shareholders and I firmly believe our commitment to quality and focus on people, product and process will propel us forward on our journey,” Hassan explained.