(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Esken Ltd - airport and aviation services operator - Revenue falls 22% to GBP110.7 million in year ended February 28, from GBP142.1 million in previous year. Pretax loss widens to GBP150.3 million from GBP139.4 million. Net debt increases 6.5% to GBP250.8 million from GBP235.5 million. Expects to secure GBP120 million financing from Carlyle in the coming days, in the form of a convertible loan. Largest shareholder Toscafund supports an equity raise. Carlyle deal, equity raise and new working capital facility would allow Esken to repay all outstanding bank debt.
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Studio Retail Group PLC - online clothing and electricals retailer - Revenue increases 33% to GBP578.6 million in year ended March 26, from GBP434.9 million in previous year. Pretax profit jumps to GBP41.7 million from GBP6.8 million. Sales in the first quarter of financial 2022 are in line with the first quarter of financial 2021. Company expects more competitive market and higher raw material and shipping costs later in the year.
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M&C Saatchi PLC - London-based advertising agency - Headline net revenue falls 12% to GBP225.4 million in 2020 from GBP256.4 million in 2019. Pretax loss narrows to GBP8.5 million from GBP8.6 million. Does not recommend dividend. Trading in first five months of 2021 was ahead of expectations and full-year results will be ahead of consensus.
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Non-Standard Finance PLC - London-based subprime lender - Revenue falls 10% to GBP162.7 million in 2020 from GBP180.8 million in 2019. Pretax loss widens to GBP135.7 million from GBP76.0 million. Does not recommend dividend after 0.7p per share dividend in 2019. Exceptional charges increased to GBP97.8 million from GBP80.6 million because of customer redress programme and write-off of goodwill assets. Guarantor loans division to be closed down.
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Pineapple Power Corp PLC - special purpose acquisition company - Pretax loss widens to GBP91,367 in 2020 from GBP27,152 in 2019. Total assets rise to GBP1.2 million from GBP32,835 following initial public offering in December. Does not recommend dividend.
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Bushveld Minerals Ltd - Johannesburg-based vanadium producer - Revenue falls 23% to USD90.0 million in 2020 from USD116.5 million in 2019. Swings to pretax loss of USD37.7 million from a profit of USD83.3 million because of a fall in vanadium prices. Production in 2021 expected to fall to between 3,400 tonnes and 3,600 tonnes, from 3,621 tonnes in 2020.
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Powerhouse Energy Group PLC - Yorkshire-based hydrogen producer - Reports revenue of GBP100,000 in 2020, up from zero in 2019. Pretax loss widens to GBP16.0 million from GBP1.7 million. Working with construction partner Peel NRE to build first commercial plant "as quickly as possible".
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Eight Capital Partners PLC - investor in financial services companies - Total assets fall 17% to GBP3.5 million in 2020 from GBP4.3 million in 2019. Pretax loss of GBP432,000 is equal to 2019's loss. Does not recommend dividend.
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BlueRock Diamonds PLC - diamond miner in South Africa - Revenue falls 12% to GBP3.6 million in 2020 from GBP4.1 million in 2019. Pretax loss widens to GBP3.0 million from GBP684,244. Diamond prices fell in 2020 and mine in South Africa was shut for 46 days because of the pandemic.
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Invinity Energy Systems PLC - Jersey-based vanadium flow battery maker - Revenue increases 79% to GBP406,000 in 2020 from GBP227,000 in 2019. Pretax loss widens to GBP24,271 from GBP7,385. Invinity closed 18.6 megawatt-hours of vanadium flow batter sales to customers in seven countries in 2020, with significant opportunities for follow-on sales. Company will focus on cutting costs and delivering existing contracts in 2021.
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Eden Research PLC - Cirencester-based agricultural chemicals producer - Revenue falls 25% to GBP1.4 million in 2020 from GBP1.8 million in 2019. Pretax loss widens to GBP2.5 million from GBP1.5 million. Trading in first part of 2021 in line with management expectations. Expects US approval of Mevalone and Cedroz products this year.
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Advanced Oncotherapy PLC - London-based radiotherapy treatment developer - Pretax loss widens to GBP25.3 million in 2020 from GBP20.8 million in 2019. Remains on track to complete its first operational proton therapy system in the second half of 2021.
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7digital Group PLC - London-based music licensing provider - Revenue falls 30% to GBP6.5 million in 2020 from GBP9.3 million in 2019. Pretax loss narrows to GBP2.3 million from GBP5.9 million. Company signed several multi-year contracts in the second half and says that momentum has continued. Expects revenue growth and positive earnings before interest, tax, depreciation and amortisation in 2021, followed by an even stronger 2022.
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Kropz PLC - phosphate explorer with assets in South Africa and Republic of Congo - Pretax loss narrows to USD2.0 million from USD8.6 million. Elandsfontein mine is on track for commissioning in the fourth quarter of 2021.
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Amur Minerals Corp - natural resources explorer with assets in far-east Russia - Pretax loss widens to GBP2.7 million in 2020 from GBP2.3 million in 2019. Work on a feasibility study for the Kun-Manie nickel-copper sulphide project, originally scheduled to be completed by December 2020, is ongoing with a one-year deadline extension granted.
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By Ivan Edwards; ivanedwards@alliancenews.com
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