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TRADING UPDATES: Ramsens resumes dividend; Watkin Jones profit rises

Tue, 18th Jan 2022 20:39

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

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Ramsdens Holdings PLC - Middlesbrough, England-based financial services provider and pawnbroker - Says it delivers a "resilient" annual performance under challenging trading conditions caused by Covid-19 restrictions. For year ended September 30, posts revenue of GBP40.7 million, down from GBP72.5 million in the 18 months to end of September 2020. Pretax profit falls to GBP564,000 from GBP9.2 million. Ramsdens declares final dividend at 1.2 pence, having paid no dividend in financial 2020. "While we remain vigilant to the risk of, and speed of, potential new social and travel restrictions being imposed, as we have seen with the recent development of the Omicron coronavirus variant, we look forward with optimism for financial 2022," says Chief Executive Officer Peter Kenyon.

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Watkin Jones PLC - London-based student accommodation developer and manager - Says it delivers a delivered a strong operational and financial performance in financial 2021, given the ongoing backdrop of Covid. For year ended September 30, revenue up 22% at GBP430.2 million from GBP354.1 million last year and pretax profit up to GBP51.1 million from GBP25.3 million. Declares full year dividend of 8.2p, up 12% from 7.35p. "We continued to enhance our BTR and PBSA development pipeline, which has an estimated future revenue value to the Group of GBP1.8 billion, our largest ever. This gives us excellent visibility of revenues over the next few years," Chief Executive Officer Richard Simpson says.

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Pressure Technologies PLC - Sheffield, England-based engineering firm - Says annual results in line with market expectations. For year to October 2, revenue edges down to GBP25.3 million from GBP25.4 million last year and pretax loss narrows to GBP4.2 million from GBP20.0 million. Declares no dividend. Looking ahead, Pressure says it remain cautious regarding the pace of recovery in PMC, expects improved performance in financial 2022, including restoring profitability in our Al-Met business. "As we begin 2022, the group is well positioned to take advantage of a strong defence order book, exciting growth opportunities in hydrogen energy and the prospect of steadily improving oil and gas market conditions. Our strategy remains focused on delivering value from the growth and development of both divisions and the board remains confident in the prospects and opportunities for the group," says Chief Executive Officer Chris Walters.

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Griffin Mining Ltd - operator of the Caijiaying zinc-gold mine in China - Reports "outstanding" operational result in terms of ore mined, ore processed and in zinc and gold produced. For 2021, zinc concentrate output up at 41,587 tonnes from 32,472 tonnes. Gold concentrate output up at 14,447 ounces from 11,250 ounces. Ore mined rises to 971,492 tonnes from 971,492 tonnes and ore processed increases to 985,404 tonnes from 822,058 tonnes.

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Caerus Mineral Resources PLC - London-based exploration & resource development company - Sets out targets for 2022 concerning joint venture with Bezant Resources PLC, which is focused on the Troulli project in Cyprus. Says at Troulli resource estimation of metal-bearing surface materials is well-advanced with the majority of known targets having been drilled, trenched and sampled during 2021. A sizeable number of samples have been dispatched for laboratory analysis and results are pending. New areas of possible mineralised surface material are found weekly and routinely sampled as a possible addition to the Resource inventory. "Our initial work, strongly suggests that whilst Troulli, is a good start to our joint venture plans, considerable potential exist for repeat type operations within the Cyprus portfolio," says Bezant Chair Colin Bird.

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Oxford Cannabinoid Technologies Holdings PLC - pharmaceutical company developing prescription cannabinoid medicines - Says results for six months to November 30 set to meet management expectations. During six months, approximately GBP920,000 of R&D costs were incurred, primarily on lead drug candidate OCT461201, which accounted for approximately GBP604,000 of the total, with progress being made on all four programmes. Says financial accounting period has been shortened from May 31, to April 30 with the aim of delivering efficiencies in the financial reporting and audit process.

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Kape Technologies PLC - Isle of Man-based digital security and privacy software provider - Expects to report revenue ahead of expectations alongside significant organic subscriber growth for 2021. Annual revenue up 89% at USD230.5 million from USD122.2 million in 2020. Kape generates strong organic growth during the year with revenue, excluding the ExpressVPN acquisition, reaching USD212.5 million, which is 5% ahead of the upper range of previous guidance. "This robust performance has enabled Kape to accelerate investment in product development, future-proofing the group's position as a market-leader and underpinning its growth prospects," it says.

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Ariana Resources PLC - exploration firm with interests in Turkey - Says 2021 marked the fifth full-year of operations at Kiziltepe mine in Turkey, which comprised more gold than the original 8-year life of mine production estimated from the feasibility study, highlighting the significant upside generated from Kiziltepe and surrounding prospects such as Kepez. Kiziltepe produced a total of 20,737 ounces of gold during the year, up from 18,645 ounces in 2020 - exceeding its full-year production guidance by 9%

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Xtract Resources PLC - London-based metals and minerals producer - For three months to December 31, gold production up at 2,811 ounces from 1,586 ounces in prior quarter. Chair Colin Bird says: " The development at Guy Fawkes continued with the objective of exploring veins revealed by surface drilling. Construction work for the Fair Bride project advanced satisfactorily and we are very pleased with the engineering standards employed on the build. The contribution of Fair Bride, ongoing Mozambican production and Zambian operations progressing favorably, leads us to be optimistic for production during 2022."

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Ascent Resources PLC - onshore Caribbean, Hispanic American and European-focused natural resources company - Signs joint venture with investment manager Blanco Safi SAC to collaborate on the identification and subsequent development of precious and base metal rich tailing and processing operations. It also raises GBP600,000 by issue of 18 million shares at 3.3p per placing share.

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Donegal Investment Group PLC - Donegal, Ireland-based agricultural firm - Proposes to return EUR20 million to shareholders. In addition, Donegal Investment plans to convert ordinary shares into redeemable shares. Cash of EUR15.30 per ordinary share converted and subsequently redeemed.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Ascent Resources up after Slovenian government's challenge rejected

(Alliance News) - Ascent Resources PLC shares were up on Friday, after a tribunal rejected the Slovenian government's challenge against a EUR656.5 million claim by the company.

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IN BRIEF: Ascent Resources notes Geoenergo insolvency approved

Ascent Resources PLC - mineral exploration and development company with gold mining interests in Turkey, Cyprus and Kosovo - Say it was informed that Ascent Slovenia Ltd's Slovenian joint venture partner Geoenergo doo has had its application to enter insolvency approved. Says it is now filing an appeal against the decision of the court in relation to this "unprecedented" situation and will register its claim with the competent court, while "continuing to pursue civil and criminal areas of redress against the former management and stakeholders of Geoenergo". Says further announcements will be made "as necessary".

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Ascent petition prevents insolvency of partner Geoenergo

(Sharecast News) - Energy and natural resources company Ascent Resources updated the market on recent developments related to its joint venture partner Geoenergo on Monday.

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Ascent Resources staves off Geoenergo insolvency amid claim pursuit

(Alliance News) - Ascent Resources PLC on Monday said Ascent Slovenia Ltd successfully prevented its Slovenian joint venture partner Geoenergo doo's immediate insolvency.

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Ascent Resources' joint venture partner begins insolvency proceedings

(Alliance News) - Ascent Resources PLC on Monday said its joint venture partner Geoenergo doo has started insolvency proceedings in Slovenia, following an arbitration tribunal.

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IN BRIEF: Ascent Resources plans shareholder return if legal case wins

Ascent Resources PLC - European and Hispanic American project-focused oil and gas exploration and production company - Says it is starting process to be able to distribute an entitlement to shareholders to the economic interest in 49% of any net proceeds received if its Energy Charter Treaty claim against Slovenia is successful. The claim relates The net proceeds of the claim by the company and its subsidiary Ascent Slovenia Ltd would be after all legal fees, costs and expenses relating to the claim. As part of this process, says it is creating a new 100%-owned subsidiary as a special purpose vehicle, of which claimants are expected to enter into a deed of transfer in relation to 49% of the net proceeds, if successful. If this vehicle receives tax clearance from HM Revenue & Customs, expects to convene a general meeting to seek shareholder approval for a bonus issue of shares. This is likely to be in January. Says it is finalising tax and legal advice and will maker further announcements "as appropriate".

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