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(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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In The Style Group PLC - Manchester-based online womenswear fashion retailer - Says gross order value in eight weeks to December 31, which includes Christmas trading period, rises 41% to GBP15.2 million. Up almost three-fold from two years earlier. Net sales up 22% annually to GBP11.2 million and up more than three-fold from two years earlier. Returns rates have reduced as wholesale arm, which includes partnerships with other retailers including ASOS PLC, performing in line with internal expectations. Expects revenue in range of GBP55 million and GBP57 million for the year ending March 31, in line with market expectations. Company warns industry-wide supply chain strife continuing. Has been forced to turn to discounting to clear some ranges ahead of new launches. Expects adjusted Ebitda margin in range of 1% and 2% as a result of supply chain woe. In addition, company says Paul Masters, chief financial officer and chief operating officer, will step down in March to focus on his health. He joined the company in 2017. Richard Monaghan, director of finance at Victorian Plumbing Group PLC, will take over as CFO. COO role will come under responsibility of In The Style Chief Executive Sam Perkins.
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East Imperial PLC - London-based premium mixers maker - Signs long-term distribution deal with with Republic National Distributing Co, one of largest distributors in US, East Imperial says. RNDC will in March begin distributing to on- and off-trade channels in US states of California, Washington, Colorado, Arizona, Maryland, Illinois, Washington DC & Florida. East Imperial says: "These states have been experiencing rapid growth in demand for premium mixers and represent an opportunity for East Imperial to achieve a step-change in the scale of the business across the US. RNDC already provides distribution for East Imperial's best-selling beverages in California, which has experienced strong sales growth. Following the agreement with RNDC, the US is expected to make up an increasing and significant proportion of East Imperial's revenues." Company says "actively seeking" a bottling partner in US in anticipation of greater demand.
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Science in Sport PLC - London-based sports nutrition firm - Says performs "ahead of expectations" in 2021. Expects to report underlying Ebitda of GBP2.2 million, doubled from GBP1.1 million in 2020. Expects 25% revenue growth to GBP62.7 million from GBP50.4 million. Notes online sales alone surge 40%. "The previous online monthly sales record was exceeded four times in the second half, including setting a new sales record over peak November trading. In the important market of the US, sales increased by 46%. PhD Japan which launched in the first half performed ahead of plan in the second half," Science in Sport says. To report annual results on March 16.
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Centaur Media PLC - London-based business information, events and marketing provider - Says trading has remained strong across the board in fourth quarter of 2021. Expects annual revenue of at least GBP38.5 million, up 19% from GBP32.4 million in 2020. Expects adjusted earnings before interest, tax, depreciation and amortisation margin in excess of 15%, an improvement from 12% in 2020. Both revenue and adjusted Ebitda margin will be ahead of consensus, Centaur says.
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Christie Group PLC - London-based financial, inventory and systems services provider - Expects operating profit for 2021 to be "very significantly in excess of current market expectations". Hails strong end of year showing by Christie & Co, the business broking, valuation and advisory arm. To report annual results in April.
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Argo Blockchain PLC - London-based cryptocurrency miner - Says has transferred 10% of its crypto assets in its "HODL" to Argo Labs. Argo Labs is the company's "in-house innovation arm". It is eyeing opportunities within cryptocurrency and wider blockchain industry. HODL is a term fashion in cryptocurrency industry meaning 'hold on for dear life'.
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Boku Inc - mobile payment and identity company based in California, US - Says volume processed through mobile first payments network rises 18% to top USD8.2 billion in 2021. Revenue for 2021 expected to rise 22% to USD69.0 million. Adjusted Ebitda is to rise 31% to USD20.0 million. In addition, company says it will sell its Boku Identity arm to Twilio for a maximum transaction value of USD32.3 million. "The disposal allows Boku to become a pure-play payments business focusing its resources on exploiting the mobile payments opportunity, particularly to continue to expand its mobile first payments network, a network of local payment methods, including direct carrier billing, eWallets and real time payments," company explains.
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Midwich Group PLC - audio visual technology distributor - Expects revenue of GBP850 million for 2021, up 20%. Says finished year "strongly" and "gross margin improved in line with the board's expectations". Expects adjusted pretax profit of GBP31.5 million, "ahead of previous expectations". Will report annual results on March 8.
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NAHL Group PLC - consumer legal services - Expects revenue for 2021 of GBP38.9 million, a touch below 2020's GBP40.9 million. Expects underlying operating profit to fall 30% to GBP4.0 million from GBP5.7 million. Both figures are in line with board expectations, NAHL says. "Covid-19 continued to have an impact on the group's markets, with government restrictions and cautious consumer behaviour suppressing accident numbers. The results for 2021 reflect a full year of Covid-19 impact," company explains. In addition, NAHL extends revolving credit facility by two years to end of 2024. Limit on facility reduced to GBP20 million from GBP25 million. Facility now linked to "new risk-free reference rate", SONIA, from LIBOR previously. NAHL to report annual results on March 29.
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Conduit Holdings Ltd - Bermuda-based insurance company - Updates on January 1 renewal season for Conduit Reinsurance unit. Estimates renewals amounted to USD262.6 million, rising 70% from USD154.4 million a year prior. Conduit Executive Chair Neil Eckert says: "Conduit Re is benefiting from some of the most attractive market conditions seen in a generation. Our second successful January renewals season reflected the fact that 2021 was the fourth costliest catastrophe year in history for the reinsurance industry and total catastrophe losses for the insurance market over the last five years now amount to over USD500 billion. As a new market entrant with a strong capital base, an unencumbered balance sheet and a forward-looking approach to underwriting, we are well positioned to benefit from continued favourable market conditions."
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Stelrad Group PLC - manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey - Says strong continued into final quarter of 2021, helped by progress strengthening in European markets. "In addition, the wider focus on the decarbonisation agenda and measures to reduce the carbon footprint of the built environment continues to fuel interest in alternative heat sources, resulting in increased awareness of lower temperature heating systems, driving interest in the group's larger radiators," Stelrad says. Steel prices appreciated during quarter, though company says it still aimed to "effectively manage this price volatility". Annual Ebitda is now expected to top previous guidance. Stelrad will announce annual results on March 14.
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Deepverge PLC - Dublin-based environmental and life science group - Says MicrotoxPD chips, coated with Optimer binding agents, can detect three common variants of concern of SARS-CoV-2 virus. "Scientists at the York, UK, Laboratory, have successfully populated the binding agents on the chips using an anti-SARS-CoV-2 antibody, that was raised against the Alpha variant. While variation of detection of all 3 variants was observed, both Delta and Omicron variants had a higher affinity to the Optimer coated chips than Alpha," Deepverge says.
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Yourgene Health PLC - Manchester, England-based molecular diagnostics company - Says Canada unit opens expanded facilities in Vancouver on Wednesday. New facilities are four times larger in size than former location. It is "well suited for the expected growth in the Company's instrument manufacturing and consumable shipping requirements". In addition, Yourgene enters into a three-year GBP5 million loan facility with Silicon Valley Bank. Company says: "The facility will provide access to non-dilutive funding to enable the group to capitalise on future accretive growth opportunities including potential licensing and M&A activity, allowing for faster deal execution and lower transaction costs." Facility has an interest only period until April 2022, following this, interest is payable at "commercially competitive rate".
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By Eric Cunha; ericcunha@alliancenews.com
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