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TRADING UPDATES: NWF beats market view; AFC hydrogen offering progress

Thu, 09th Mar 2023 11:59

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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NWF Group PLC - Cheshire, England-based agricultural feed, food and fuel distributor - Trading across all divisions has "continued to be strong" since end of January. Performance in third quarter of year ended May 31 "ahead of internal expectations". "Whilst final quarter trading continues to be subject to seasonal factors, the strong year to date performance together with the supportive backdrop entering March means that the board now anticipates the group's full year result to be significantly ahead of market expectations," NWF predicts. Headline pretax profit is expected to be no less than GBP17.5 million. Consensus stands at GBP12.3 million.

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AFC Energy PLC - hydrogen power generation technologies provider - Says H-Power Tower hydrogen generators leased for more than 7,000 hours to date in UK and European construction market. Adds that contracts signed for more than 8,000 hours in 2023 so far. AFC says: "The H-Power Tower deployments to date, coupled with a growing pipeline of deployments contracted for 2023, highlights the clear role hydrogen is set to play in supporting the decarbonisation of hard to abate industries such as construction. Customer feedback has been immensely valuable in shaping future specifications of AFC Energy hydrogen power generator platforms and, alongside our early mover customers, we are working to deliver larger systems into 2023, building on the success of the H-Power Tower design." Adds: "In 2023, we are working towards a material reduction in capital cost per system, measured on a per kW basis, which, together with +50% efficiency achieved on fuel conversion in the field to date, creates a platform for a competitive total cost of ownership relative to peers."

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Firering Strategic Minerals PLC - operator of Atex dual lithium-tantalum project in Ivory Coast - Lifts Atex stake to 90% from 77%. Buys extra 13% stake for EUR258,484. Deal funded jointly by Firering and Ricca Resources Ltd. Firering contributes EUR58,742 and Ricca EUR199,742. "The Atex project has the potential to become a significant lithium resource in West Africa in a relatively short period of time. The quality and potential of Atex was recognised by Ricca who is earning into the project and supporting us in fast tracking the project to definitive feasibility study. This coupled with the success of our phase I drilling campaign and start of the phase II soil sampling programme announced at the beginning of this year, made our decision to increase our stake in the project to 90% an easy one. We look forward to updating shareholders on our progress," Chief Executive Yuval Cohen says. Firering in November entered into deal with Ricca to fund advancement of Atex.

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Synergia Energy Ltd - developer of natural gas assets in India - To adopt jet pump solution for C-77H well, after "extensive evaluation" of artificial lift options. "This is due to a combination of technical, cost and availability drivers," Synergia says. "The jet pump solution has the advantage of being immune to elastomer degradation caused by the high aromatic content of the Cambay Eocene condensate, as jet pumps contain no elastomers. The jet pump solution is also more cost effective, particularly for a full field development where jet pumps in multiple wells can be driven by a single common surface pump."

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Gulf Keystone Petroleum Ltd - Bermuda-based oil & gas exploration company - Receives gross payment of USD34.3 million, USD26.9 million net to firm, from Kurdistan regional government for Shaikan crude oil sales during September 2022. Genel Energy PLC on Monday said expects payment of USD33.0 million from Kurdistan for Tawke sales in September. Under previous mechanism, that would have amounted to USD34.9 million.

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Symphony Environmental Technologies PLC - developer of sustainable plastics and rubber - Better Earth LLC, its US distributor of biodegradable plastics technology for nutritional supplement bottles, signs exclusive supply agreement with TricorBraun. Deal concerns its BioBottles brand of polyethylene bottles for the nutraceutical industry. "I am delighted to report that sales of d2w to our strategic partner Better Earth are expected to increase significantly in 2023 and beyond. Working with partners such as Better Earth and - by extension - with global packaging leader TricorBraun - Symphony is well placed to capture a share of the US and Canadian bottle markets, with additional verticals in the bottle market still available to target," CEO Michael Laurier says.

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Xeros Technology Group PLC - Rotherham, England-based laundry technology developer - Signs further licensing agreement for its XFilter filtration technology with "global component manufacturer" based in Europe. "Under the terms of the 5-year, non-exclusive agreement, the partner is licensed to manufacture and sell filters incorporating Xeros' proprietary XFilter technology on a worldwide basis. This will enable washing machine manufacturers to provide consumers with the ability to capture, and easily and safely dispose of over 90% of microfibres, including microplastics, released during laundry cycles," Xeros says. Deal ups Xeros market access and has "potential to deliver substantial revenue" over contract.

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Global Ports Holding PLC - cruise port operator - Says 80%-20% joint-venture with Servicios Portuarios Canarios signs 15-year cruise port concession for Alicante Cruise Port, Spain. "The signing of this agreement follows the award of preferred bidder status, which was announced on 16 December 2022. GPH expects to take over the cruise operations in Alicante before the end of the current financial year to 31 March 2023," GPH says. "The Port Authority of Alicante is currently enhancing the port area in a multimillion-Euro investment that will integrate waterfront and city. Alongside this investment and as part of the concession agreement, the JV plans to invest up to EUR2.0 million into refurbishing and modernising the cruise terminal."

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Litigation Capital Management Ltd - asset manager specialising in dispute financing solutions - Says settlement reached in Australian class action funded by Litigation Capital. "The investment in this class action forms part of LCM's Direct Investment Portfolio and was 100% funded from balance sheet capital," Litigation Capital says. Expects to receive revenue of AUD14 million, around GBP7.8 million.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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AssetCo PLCAGM
Breedon Group PLCAGM
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Coro Energy PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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