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Pin to quick picksAdriatic Metal. Share News (ADT1)

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TRADING UPDATES: JKX 2020 profit drops; Resolute Mining keeps guidance

Wed, 31st Mar 2021 18:02

(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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JKX Oil & Gas PLC - UK-based hydrocarbon exploration and production company - For 2020, pretax profit declines to USD24.9 million from USD30.4 million the year before, on revenue which drops year-on-year to USD69.6 million from USD101.7 million in 2019, driven by a sharp fall in oil and gas prices. Average Ukrainian gas prices fell to USD132 per million cubic metre from USD206, while oil prices dipped to USD44 per barrel from USD61 the prior year. Production was 5% lower at 10,238 barrels of oil equivalent per day from 10,748 barrels in 2019.

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Resolute Mining Ltd - Australian gold miner - Reaffirms gold production guidance for 2021 at 350,000 to 375,000 ounces of gold, with all-in sustaining cost per ounce at USD1,200 to USD1,275, as both Syama and Mako operations in Mali and Senegal respectively, remain on target.

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Caledonian Trust PLC - Edinburgh-based property investment company - For the six months to December 31, pretax loss widens to GBP327,000 from GBP196,000 the year before, driven by a sharp rise in cost of development property sales at GBP787,000, as well as a net loss on investment properties of GBP165,000 from a gain of GBP250,000. As at December 31, net asset value per share dips to 201.7 pence from 204.5p the same date the prior year.

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Henderson High Income Trust PLC - pure income trust investing in dividend-paying UK companies - For 2020, net asset value total return stands at minus 11.4%, underpeforming against the benchmark - a composite of 80% of the FTSE All-Share Index and 20% of the ICE BofAML Sterling Non-Gilts Index - which returned 17%. As at December 31, net asset value per share drops to 157.25 pence from 189.76p the same date the prior year. At the end of 2020, the share price was 147.00p, reflecting a 6.5% discount to NAV. Ups dividend to 9.90 pence per share from 9.80p.

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Inspirit Energy Holdings PLC - developer of combined heat and power boilers - For the six months ended December 31, posts a pretax loss of GBP64,000, narrowed from GBP189,000 the year before on higher costs, after generating no revenue for the period. Is continuing the development of its microCHP boiler, and reviewing the potential supply chain for its Stirling technology.

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Danakali Ltd - Australian-headquartered potash company - For 2020, pretax loss widens to AUD8.3 million from AUD3.1 million the year before, driven by a net loss of AUD2.7 million from a gain of AUD4.4 million classified at fair value. Interest revenue dropped to AUD71,841 from AUD81,338.

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Fundsmith Emerging Equities Trust PLC - London-based investment trust - For 2020, net asset value total return is at 20.7%, compared to the MSCI Emerging & Frontier Markets index, which returned 14.4%. As at December 31, net asset value per share rose year-on-year to 1,460.2 pence from 1,213.0p. Meanwhile, the share price at the end of 2020 was 1,415.0p, reflecting a 3.1% discount to NAV. Declares dividend of 2.0p per share, but noted the payout was only to retain its status as a UK investment trust.

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Marwyn Acquisition Co PLC - seeking acquisition opportunities in downstream and specialty chemicals sector - For the six months ended December 31, pretax loss narrows to GBP515,000 from GBP1.6 million, as it continues to assess several opportunities for the company. Cash balance at the end of the period is GBP5.5 million.

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AdvancedAdvT Ltd - listed acquisition vehicle - For the period from July 31 to December 31, operating loss stands at GBP246,976, as the company continues to search for acquisition opportunities in the software sector, following the raising of GBP130 million in mid-March.

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Adriatic Metals PLC - developing Vares silver project in Bosnia & Herzegovina - For the six months ended December 31, pretax loss widens to GBP5.7 million from GBP3.8 million the year before.

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SimiGon Ltd - simulation training solutions provider - For 2020, expects to report widened net adjusted loss of USD1.8 million from USD1.1 million, on revenue set to drop to USD3.2 million from USD4.9 million the year before, on slowing project deliveries and new business wins.

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Hydrodec Group PLC - London-based cleantech industrial oil re-refining - reaches agreement of USD6.8 million refinancing package in respect of the Canton, Ohio plant and assets in order to replace the existing equipment lease, and provide funds for feedstock. However, due to ongoing pandemic and financial constraints, company is unable to conclude its audit for the 18-month period ended June 30, 2020, and will cease trading on AIM on Thursday.

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Topps Tiles PLC - tile specialist - For the 26 weeks ended March 27, total revenue was GBP103.6 million, down from GBP106.2 million the same period the year before, while Retail like-for-like growth was at 2.0%. However, Commercial sales were down 10% year-on-year, as some market sectors remain significantly affected by Covid-19.

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Wincanton PLC - Wiltshire-based logistics firm - For the fourth quarter ended March 31, underlying revenue is expected to be 15% higher year-on-year, while full-year results are set to be above market expectations, with new business from B&Q, Snug, Heineken and Kelkay secured.

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IronRidge Resources Ltd - Australia-based minerals exploration company - For six months ended December 31, pretax loss narrows at AUD1.4 million from AUD2.2 million the year before, due to lower administrative costs, as revenue rose to AUD50,000 from AUD45. Post-period, completed the scoping study for the Ewoyaa lithium project in Ghana, which supports a business case for producing an average of 295,000 tonnes per annum of lithium spodumene concentrate.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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