(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Yourgene Health PLC - Manchester-headquartered molecular diagnostics firm - Says that while strong trading patterns being observed in the second half compared to the first six months of the current financial year mean that double-digit revenue growth is expected for the financial year ending March 31, the "ongoing impact of Covid-19 on ordering patterns in UK and international commerce" is expected to result in full-year revenue below consensus market estimates. "A number of factors associated with the pandemic have continued to impact customer activity levels and created considerable variability in the timing of revenues, such that full year revenues are now expected to be in the range of GBP18-20m, lower than previous guidance but representing solid year-on-year growth of the order of 10-20%," says Yourgene. Says revenue for 2022 financial year expected to be in excess of GBP25 million, with "considerable upside potential".
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UP Global Sourcing Holdings PLC - designer and developer of consumer goods brands - Says revenue for six months to January 31 up 11% to GBP75.4 million from GBP67.7 million a year ago. Given continuing momentum in order book, the company anticipates its performance in the current financial year will be ahead of expectations, with revenue in excess of GBP135 million versus GBP115.7 million in the 2020 financial year and underlying earnings before interest, taxes, depreciation and amortisation in excess of GBP12.6 million versus GBP10.4 million.
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LoopUp Group PLC - cloud communications provider - Confirms it expects revenue for 2020 to be around GBP50.2 million, up from GBP42.5 million in 2019, and earnings before interest, taxes, depreciation and amortisation of GBP15.3 million, more than double the year before's GBP6.4 million. LoopUp ended the year with gross cash of GBP12.1 million and net debt of GBP700,000, versus GBP3.0 million and GBP11.5 million respectively the year before.
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Lok'nStore Group PLC - self-storage company - Says trading in half-year to January 31 "strong" with self-storage revenue up 11% on a year ago. "At 31 January 2021 unit occupancy was up 24.7%, a gain of 175,897 sq ft over 12 months. This is a forward indicator of accelerating revenue growth," company notes. Occupancy as a percentage of current lettable area was up to 81.6% this year from 67.1% year before. Notes self-storage businesses have been designated as essential services and are permitted to operate during lockdowns.
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Cake Box Holdings PLC - eggless cake retailer - Opens 150th store located in Romford. The opening is the company's 66th since its AIM IPO in June 2018. "Alongside the store roll-out programme, the group has continued to make further progress on strategic initiatives including the development of its own-brand delivery platform which complements its existing click & collect and third-party delivery offerings," Cake Box says.
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Block Energy PLC - oil and gas development and production in Georgia - Says production from the WR-38Z and WR-16aZ wells at its West Rustavi field, Georgia, has recommenced. The wells have been brought back online safely, with oil and gas flowing through Block's new in-field flowline to its early production facility, which is located in the West Rustavi field at the WR-16aZ wellsite. "Production from the Wells remains stable and consistent with the production rates achieved before they were shut-in in April 2020. We continue to make regular sales of our crude oil inventory to local buyers and I look forward to providing a further update about the commencement of gas sales to the market shortly," says Chief Executive Paul Haywood.
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AssetCo PLC - Middle East-focused provider of management and resources to the fire and emergency services - On Friday acquired additional 2.5 million shares in River & Mercantile Group PLC at GBP2.28 per share, a premium of 2.2% to Thursday's closing price of GBP2.23, with the transaction consideration totalling GBP5.7 million. AssetCo now holds 5.0 million River & Mercantile shares, or just under a 5.9% stake. AssetCo intends to change its business strategy to the development of an asset and wealth management business, and, as a result, this will be a fundamental change of business and the company will effect a readmission of its shares under AIM Rule 14. "The board is committed to completing the readmission process within three months and will provide further updates to shareholders in due course," says AssetCo.
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Trinity Exploration & Production PLC - exploration & development company - Says 2020 average daily production up 7% to 3,226 barrels of oil per day, with company guiding to production of 2,900 barrels to 3,100 barrels of oil per day in 2021 before drilling of new wells. "Trinity was able to meet production guidance for 2020 despite drilling no new wells. Management has a strategy in place to underpin production levels in the current year, with 2021 production guidance of 2,900 - 3,100 bopd being achieved by increasing efficiencies from existing wells," company says.
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Fulham Shore PLC - owner of restaurant chains Franco Manca and The Real Greek - Says revenue currently running at around 46% of what board considers to be normal trading levels as it operates under current virus restrictions. Notes that well-publicised difficulties in the property and restaurant sectors are providing the group with opportunities to acquire new sites at "much reduced rents" and lower capital costs per site. Says has now drawn down in full its CLBIL loan facility of GBP10.8 million under the UK government's scheme. Says maturity date of existing GBP14.8 million HSBC RCF loan facility is March 2022, and company is in negotiations with HSBC with a view to extending this facility.
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Elixirr International PLC - London-based consultancy - Says trading has continued to be strong since October update, with company expecting to record revenue of around GBP30 million for 2020, slightly ahead of market expectations of GBP29.4 million. On an IAS 17 basis, adjusted earnings before interest, taxes, depreciation and amortisation expected around GBP9 million, versus market expectations of GBP8.9 million. Adds that it has made a strong strong to 2021, registering another record revenue month in January following three record revenue months during 2020.
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Tern PLC - internet of things-focused investor - Says portfolio company Device Authority Ltd has formed strategic partnership with EPS Global to enable customers to be able to access end-to-end security lifecycle management and secure the provisioning of PUF-enabled devices. Adds that Fundamental VR has secured an "important contract" from a new client to create a simulation in the field of regenerative medicine, valued at approximately GBP500,000 million in its initial phase, and a further GBP200,000 million over the following three years for enhancements.
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Goldplat PLC - AIM-listed Africa-focused gold producer - Says recovery operations in six months to December 31 achieved a combined operating profit of GBP3.0 million, up from GBP2.8 million a year ago. Within this, the South African operation achieved an operating profit of GBP2.2 million and the Ghana operation increased operating profitability by more than five-fold to GBP842,000. "I am pleased to report continued operational profitability and especially the improved operational performance in Ghana. We are investing time and resource to achieve our goals of sustainable supply and profitability that can form the base for the declaration of dividends in future," says Chief Executive Werner Klingenberg.
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Anglo Pacific Group PLC - natural resources royalties business based in London - Reports GBP35 million to GBP37 million in portfolio contribution for 2020, down 40% on a record year in 2019. Decrease in portfolio contribution primarily driven by softening in coal prices during 2020 and an associated reduction in the applicable royalty rate at Kestrel, together with a 10% decrease in sales volumes at Kestrel, company says. Recommends final dividend of 3.75p, resulting in total dividends for 2020 of 9p, flat on 2019. "While I am pleased to report that the operations underlying the Group's portfolio were largely unaffected by the Covid-19 pandemic, commodity prices and in particular softer coal prices have resulted in a drop in portfolio contribution for 2020, in what has been a challenging period for all," says Chief Executive Julian Treger.
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By Lucy Heming; lucyheming@alliancenews.com
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