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TRADING UPDATES: iEnergizer and Volex post interim profit hikes

Thu, 11th Nov 2021 21:26

(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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iEnergizer Ltd - IT service management company - Revenue in six months to September 30 up 35% year-on-year to USD121.9 million from USD90.2 million. Pretax profit improves 41% to USD37.9 million from USD26.9 million. Lifts payout 42% to 8.12 pence per share from 5.72p. "We are delighted to report another strong performance by iEnergizer, with highly profitable growth in revenue and profit margins, which exceeded our expectations for H1 2022," Chair Marc Vassanelli says.

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Volex PLC - Hampshire, England-based electronic components maker - Revenue in first half ended October 3 jumps 45% to USD292.7 million from USD202.5 million. Pretax profit increases 35% to USD19.4 million from USD14.4 million. Ups payout by 9.1% to 1.2p per share from 1.1p. "Robust first half of the year coupled with a strong forward order book, means Volex is on course to deliver on its full-year consensus market expectations," company says.

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MaxCyte Inc - Maryland-based platform for cell-based research - Revenue in third quarter rises 50% to USD10.1 million from USD6.8 million a year earlier. Pretax loss narrows to USD2.7 million from USD3.1 million. "We continue to expand our customer base and increase the number of strategic partnerships, now with 15 strategic platform license agreements in place following the announcement of our agreement with Nkarta in early November. The vast majority of our SPL agreements enable MaxCyte to participate in pre-commercial milestones and post-commercial sales-based payments on SPL-related Programs. We remain bullish around the potential for our SPL partnerships to generate meaningful revenue for the business over the next 12 to 18 months and beyond as our partners continue to see clinical success," Chief Executive Doug Doerfler says. In addition, company lifts 2021 revenue outlook to USD33.0 million from previous guidance of "greater than USD30 million".

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Sabien Technology Group PLC - Watford-based boiler efficiency products - Has signed heads of terms with Proton Technologies Canada Inc in relation to a hydrogen processing licence within UK territories. Sabien will be producing 20 tonnes of hydrogen per day, generated using Proton's technology.

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Bidstack Group PLC - London-based in-game advertising platform - Partners with Wildlife Studios Ltd, creators of mobile tennis game Tennis Clash. "The activations will see brands featured across virtual tennis courts such as New York and Sydney, on courtside banners, scoreboards and nets, on custom racket strings and across branded outfit designs that will be seamlessly integrated into the game's virtual world. The in-game takeovers will be available to all players and will be seen by a global audience," Bidstack says.

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Tlou Energy Ltd - power company focused on sub-Saharan Africa - Secures 10 megawatt power purchase deal with Botswana Power Corp. "The construction of transmission lines to connect Lesedi to the existing power grid is expected to be completed in 2023," Tlou says. Notes a prototype hydrogen production unit is being designed in Brisbane before being transported to Lesedi in first half of 2022. Says hydrogen technology partner Synergen Met Pty Ltd plans to float in Sydney in "coming months" and is currently going through pre-IPO process. Tlou may participate in the IPO for up to USD3 million. "The company sees significant upside for a potential investment in SM given comparisons with similar listed entities," Tlou says.

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Goldstone Resources Ltd - gold exploration and development in West Africa - Raises GBP1 million through placing of 8.7 million shares at 11.5 pence each with a new institutional shareholder. "The net proceeds of the placing will be used predominantly to expediate the exploration, including a drilling programme, at the former underground mine at Akrokeri, formerly known as the Akrokeri Ashanti Mine Ltd," Goldstone says.

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Energean PLC - gas explorer and producer in the Mediterranean - Prices offering of USD450 million senior secured notes due 2027. Notes carry 6.5% annual interest rate.

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Zephyr Energy PLC - Newbury, England-based exploration & production company - Reports the first flowing hydrocarbons from the State 16-2LN-CC well, even as production testing and well clean-up efforts remain ongoing. "The production of hydrocarbons marks a major milestone for Zephyr, particularly as this is the first horizontal well in the wider Paradox Basin to flow hydrocarbons using a modern hydraulically stimulated completion," company explains.

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Pharos Energy PLC - oil & gas company with assets in Egypt, Vietnam and Israel - Says first phase of the TGT 4 well infill development drilling programme in Vietnam completed. All four infill development wells drilled within schedule and well under budget, Pharos says.

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Great Eastern Energy Corp Ltd - Indian coal bed methane company - Revenue in six months to September 30 falls 9.6% year-on-year to USD13.4 million from USD12.3 million. Swings to pretax profit of USD1.8 million from USD66,970 loss a year earlier.

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Agronomics Ltd - Isle of Man-based investor in the field of cellular agriculture - Portfolio firm Tropic Biosciences will not see its potato product face "regulatory barriers". The product, developed using gene editing induced gene silencing technology, is exempt from regulation under the US Department of Agriculture Animal & Plant Inspection Service. "This confirmation ensures that its gene-edited potatoes, resistant to browning, will not face regulatory barriers on its way to market, and is a promising indicator for its other products such as coffee, rice and bananas," Agronomics says. It has a 3.0% stake in Tropic.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
7 Sep 2023 13:48

IN BRIEF: Agronomics says SuperMeat chicken meets Kosher standards

Agronomics Ltd - Isle of Man-based venture capital firm, with investments in the cellular agriculture field - Says portfolio company SuperMeat The Essence of Meat Ltd has met Kosher standards for its chicken cell line. Says this is the first time cultivated poultry has been recognised as Kosher. Says development opens up a "considerable global market opportunity" within the Kosher market. Agronomics has invested USD12.5 million in SuperMeat and has a 7.8% equity ownership.

Read more
17 Aug 2023 16:25

Agronomics investee CellX opens China cultivated meat plant

(Sharecast News) - Cellular agriculture investor Agronomics announced on Thursday that its Shanghai-based investee CellX had opened a pioneering cultivated meat pilot factory in China.

Read more
14 Aug 2023 09:16

Agronomics raises investment in alternative palm oil firm Clean Food

(Alliance News) - Agronomics Ltd on Monday said it has invested in Clean Food Group Ltd, a fermentation-derived palm oil company.

Read more
9 Aug 2023 13:31

UPDATE: Agronomics invests EUR4 million in Meatable funding round

(Alliance News) - Agronomics Ltd on Wednesday gave corrected details of its investment in Meatable BV's next funding round, having first announced its participation on Tuesday.

Read more
8 Aug 2023 14:26

Agronomics invests EUR4 million as part of Meatable funding round

(Alliance News) - Agronomics Ltd on Tuesday said that it has made an investment as part of Meatable BV's next funding round, and also noted a collaboration by one of its portfolio companies.

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18 Jul 2023 11:39

Agronomics investee Galy bags USD50 million deal for lab-grown cotton

(Alliance News) - Agronomics Ltd on Tuesday said its investee and Boston-based plant cell culture company Galy Co entered into a ten-year USD50 million partnership with Suzuran Medical Inc.

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22 Jun 2023 14:23

Agronomics investee backed by Pets At Home; lab meat approvals in US

(Alliance News) - Agronomics Ltd on Thursday said that cultivated meat products have been approved for sale in the US, and it also announced new funding rounds at two portfolio companies, with one getting backing from Pets At Home Group PLC.

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16 Jun 2023 12:19

Agronomics investee gets USDA label approval for lab-grown chicken

(Sharecast News) - Cellular agriculture investor Agronomics announced on Friday that its investee UPSIDE Foods had become the first company in the world to receive label approval from the US Department of Agriculture (USDA) - a significant milestone for the cultivated meat industry.

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16 Jun 2023 09:18

Agronomics notes USDA approves Upside's cell-cultivated products

(Alliance News) - Agronomics Ltd on Friday said that Californian company Upside Foods Inc has become the first lab-grown meat company to gain label approval from the US Department of Agriculture, which it said is a "significant milestone" for the industry.

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16 Jun 2023 07:54

LONDON BRIEFING: Tesco sales up; ITV mulls AllMedia3 acquisition

(Alliance News) - Stocks in London are called higher on Friday, as investors consider the week's central bank decisions, with the latest coming from Japan.

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15 Jun 2023 14:23

IN BRIEF: Agronomics invests AUD2.5 million in Australia-based HydGene

Agronomics Ltd - Isle of Man-based venture capital investor in alternative proteins, focused on cellular agriculture and cultivated meat - Invests AUD2.5 million, or GBP1.3 million, in HydGene Renewables Pty Ltd as part of the latter's AUD6 million seed financing round. HydGene is a North Parramatta, Australia-based developer of synthetic biology to engineer microorganisms for use in hydrogen production.

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15 Jun 2023 12:14

Agronomics invests AUD 2.5m in HydGene Renewables

(Sharecast News) - Cellular agriculture investor Agronomics announced a significant investment of AUD 2.5m in HydGene Renewables on Thursday.

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4 May 2023 13:07

Agronomics announces £1m investment in Good Dog Food

(Sharecast News) - Cellular agriculture investor Agronomics announced a £1m investment in Good Dog Food (GDF) on Thursday, as part of its seed financing round worth £3.6m.

Read more
2 May 2023 20:48

TRADING UPDATES: Arrow Exploration boasts "fantastic" year of growth

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

Read more
28 Mar 2023 15:40

Director dealings: Agronomics director raises stake

(Sharecast News) - Agronomics revealed on Tuesday that executive director James Mellon had acquired 666,001 ordinary shares in the AIM-listed cellular agriculture firm.

Read more

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