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Pin to quick picksArgo Blockchai. Share News (ARB)

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TRADING UPDATES: Argo Blockchain, HC Slingsby suffer profit drops

Wed, 18th May 2022 17:57

(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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Argo Blockchain PLC - London-based cryptocurrency miner - For the first quarter of 2022, pretax profit plunges to GBP1.5 million from GBP19.3 million the same period a year before, driven by a change in the fair value of digital currencies, with a loss of GBP4.6 million compared to a gain of GBP13.2 million. Revenue meanwhile grows 9.6% to GBP14.9 million from GBP13.6 million, due to a rise in the hashrate in spite of lower bitcoin prices. Total bitcoin mined increases 21% to 470 bitcoin from 387 a year prior.

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HC Slingsby PLC - Shipley-based industrial and commercial equipment distributor - For 2021, pretax profit drops 25% to GBP822,000 from GBP1.1 million the year before, on revenue which declines 9.2% to GBP19.8 million from GBP21.8 million, due to a decline in demand for Covid-19-related products. Due to continued uncertainty, the company does not recommend a final dividend for 2021, in line with the year before. Looking ahead, for the first quarter of 2022, sales grow 4% year-on-year.

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Science Group PLC - Cambridge-based science-focused product development company - Reports strong start to 2022, with performance in April ahead of management expectations. As a result, for the first half of 2022, company expects adjusted operating profit to be 20% higher year-on-year. As at April 30, gross cash stands at GBP38.4 million.

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ZAIM Credit Systems PLC - Russian focused fintech company - For 2021, reports net interest income at GBP9.4 million up from GBP4.8 million, leading to a swing to pretax profit of GBP801,497 from a loss of GBP614,519.

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EKF Diagnostics Holdings PLC - Cardiff-based diagnostics and central laboratory assay maker - Trading in first quarter of 2022 is strong with revenue in line with the same period in 2021, and is on-track to deliver full-year results in line with current market forecasts.

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Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics, health and nutrition company - For the six months ended March 31, pretax loss widens to GBP5.1 million from GBP3.3 million the same period a year prior, on higher operating costs related to the launch and roll-out of Ectosan Vet and CleanTreat. Meanwhile, revenue grows 32% at GBP79.2 million from GBP59.5 million as a result of a strong performance from all areas, particularly Advanced Nutrition and Genetics. Looking ahead, company is currently trading in line with expectations, and has a strong outlook for salmon egg sales for the rest of the year.

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Cornish Metals Inc - Vancouver, Canada-based investment firm - For the year ended January 31, the company's loss widened to CAD2.9 million from CAD1.6 million the year before, due to total operating expenses rising to GBP3.0 million through professional fees and a widened foreign exchange loss.

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Jersey Electricity PLC - electricity supplier in Jersey - For the six months ended March 31, pretax profit drops 33% to GBP7.0 million from GBP10.5 million the year before, as revenue declines 3% to GBP65.0 million from GBP67.1 million, as a result of lower unit sales of electricity, due to lower domestic consumption associated with less homeworking linked to the pandemic. Declares interim dividend of 7.60 pence per share, up % from 7.20p a year prior.

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Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada - For the first quarter of 2022, net loss widens to CAD21.5 million from CAD16.8 million the same period a year prior, in spite of revenue more than doubling to CAD18.4 million from CAD6.4 million. While gold produced dipped to 6,653 ounces from 6,796 ounces, however gold sales rise sharply to 7,876 ounces from 2,924 ounces.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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