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(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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Polymetal International PLC - Jersey-registered precious metals miner in Russia and Khazakhstan - In the second quarter, says gold equivalent output 326,000 ounces, down 9% year-on-year due to lower grades and shutdowns, with the total gold equivalent output for the first half 697,000 ounches, a 7% decrease year-on-year. Revenue in the second quarter falls 36% to USD433 million, as first-half revenue drops 18% to USD1.05 billion. This was due to lower sales volumes on the back of inventory accumulation, although the average realised price rose, Polymetal says. Net debt at the end of the quarter stands at USD2.8 billion, a rise of USD800 million during the period due to the build up of inventory. Confirms annual production guidance of 1.7 million ounces of gold equivalent, but notes risks of Covid lockdowns in China and logistical constraints.
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eve Sleep PLC - London-based sleep wellness brand - Sales in the first half drop 19% year-on-year, driving revenue down 17%. Notes overall market dropped around 30%, however. Says French direct-to-consumer business outperforms UK, with sales down just 2%, compared to 17% decline in D2C in UK. Says DFS partnership is progressing well, now its largest retail partner defined by revenue. Notes signs of recovery of demand as June sales are down just 1%. Formal sales process has received interest, with some expressions of interest progressing to due diligence and further information requests. No offer is guaranteed, it says.
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eEnergy Group PLC - London-based energy efficiency-as-a-service provider - Says revenue for the year ended June 30 will come in a GBP22.0 million, up 62% year-on-year, with adjusted earnings before interest, tax, depreciation and amortisation of GBP3.0 million, over triple that of the prior year. Expects "significant" annual growth to both revenue and adjusted Ebitda in the coming year. Notes "record performance" in the final quarter, with revenue of GBP8.3 million and adjusted Ebitda of GBP2.0 million. "The continued energy crisis continues to generate strong demand for our integrated Net Zero offering with the new business pipeline developing strongly as we enter the new financial year," says CEO Harvey Sinclair.
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Brave Bison Group PLC - London-based media and marketing - In the first half of the year, revenue is expected at GBP14.7 million, doubled from GBP7.3 million, as adjusted Ebitda triples to GBP1.5 million from GBP500,000. "In the past six months we have successfully integrated four businesses and launched a new, combined customer proposition and trade brand. This has helped deliver a doubling of revenue and record operating profits in the first half of 2022. As a result, the board expects performance for the full year ended 31 December 2022 to be ahead of current market expectations," says Chair Oliver Green.
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Alpha FX Group PLC - London-based foreign exchange risk management and international payments - Revenue grows 35% in the first half to GBP46 million from GBP34 million, as the firm continues significant investments into people and technology to drive expansion. FX Risk Management revenue increases 30% to USD32 million, as Alternative Banking revenue jump 40% to USD14 million. "Following the decentralisation of our divisions, we have never been more confident in their significant standalone potential. The enhanced focus is enabling each division to better direct their resources toward their distinct strategic priorities, in turn, creating more value for all their stakeholders," says CEO Morgan Tillbrook.
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Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - NAV declines 4.6% in the three months to June 30, outperforming its benchmark S&P GCC Composite Index which fell 13%. The outperformance was because GIF was underweight in Saudi Arabia and the financial sector, which recorded poor performances during the period. Shares are trading at a 0.3% discount to NAV, compared to the five-year average discount of 10%.
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Abingdon Health PLC - York-based lateral flow test maker - Launches business-to-consumer e-commerce website to serve UK and international customers with its tests, spanning fertility, health, well-being and infectious disease.
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Panther Metals PLC - mineral exploration in Canada - Says exploration permit application for three drill prospects at Obonga project in Northern Ontario, Canada is granted. Application was submitted with Broken Rock Resources Ltd, and covers work planned within 45 single cell mining claims in the Puddy Lake administrative area.
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CPPGroup PLC - Leeds-based products and services for financial services and insurance sectors - Says Globiva, in which it holds 51% interest, reports results in line with expectations for year to June 30, ahead of prior year comparators. Agrees to amend shareholder agreement with Globiva from 2019, noting it included "unrealistic commitments" concerning the use of Globiva's call-handling capacity. CPP will provide GBP500,000 in additional funding to Globia through existing loan facility, to provide compensation payment to its founders. Globiva ounders will buyback 10% of shares from CPP Group, upon the achievement of performance targets, and not before 2026. "The agreement we have reached with Globiva strengthens our relationship and provides a sound footing on which the business can continue to grow strongly and to the benefit of all parties," says CEO Simon Pyper.
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Unbound Group PLC - London-based footwear company, formerly known as Electra Private Equity - Proposes placing of 20.8 million new shares at 15p each, as well as subscription for 1.2 million shares at the same price to raise GBP3.3 million. Also will launch open offer up to 6.7 million shares to raise up to GBP1.0 million. Will use proceeds to fund investment into digital, expanding garden centres, technology and inventory solutions.
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Bradda Head Lithium Ltd - North America-focused lithium development company - Intends to pursue dual-listing on TSX Venture Exchange, which will expand its shareholder base, bring its lithium portfolio to the attention of a "robust resources market", and allow existing Canadian investors to reposition securities held in the UK to Canada. " Given our asset base in Arizona and Nevada, we believe that Bradda will be a very attractive proposition to a new pool of investors on the TSX-V. We look forward to providing further updates as the process progresses," says CEO Charles FitzRoy.
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Scirocco Energy PLC - Leeds, England-based oil & gas investment company - Says subscriber under the share subscription deed governing the investment facility has issued settlement notice for USD100,000. Issues 30.4 million shares with a deemed price of GBP0.0028 to the subscriber.
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FirstGroup PLC - Aberdeen, Scotland-based transport provider - Extends 'put up or shut up' deadline for I Squared Capital Advisors takeover offer to 18 August, having already extended it to July 21.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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