(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Victoria PLC - Worcestershire-headquartered flooring firm - Achieves "record results" for the year ended April 3, despite challenges of Covid-19. Expects revenue of GBP640 million, up 3.0% from GBP621.5 million a year prior and underlying earnings before interest, taxes, depreciation and amortisation of GBP120 million, up 1.6% from GBP118.1 million. "This was a year in which we completed no major acquisitions and therefore the record trading results were driven by organic performance," say Victoria.
Elixirr International PLC - London-based consultancy - Posts pretax for 2020 of GBP5.8 million, rising from GBP1.7 million from a year prior. Revenue increases to GBP30.3 million from GBP13.1 million. Says the growth is thanks to the company's "relentless focus on continuing to build long-term trusted relationships". Says Covid-19 had minimal impact on trading. Proposes final dividend 2.2 pence per share, leaving the final payout for the year at 2.2p. Says trading in the first quarter has been strong with revenue increasing by more than 60% year-on-year.
Xpediator PLC - freight management services in UK and eastern Europe - Posts pretax profit for 2020 of GBP3.9 million, rising from GBP2.2 million a year prior. Revenue from continuing operations increases to GBP221.2 million from GBP213.2 million. Increases dividend by 13% to 1.50 pence from 1.33 pence a year prior. Says it is well positioned for further growth in 2021, with the first quarter results slightly ahead of the board's expectations, despite on-going Covid-19 restrictions. Additionally, announces acquisition of Retearn Group Ltd for GBP7.0 million plus an additional cash payment based on working capital at completion. Retearn is a UK-based procurement, transformation and insights consultancy.
Thor Mining PLC - Australia-focused exploration and development company - Commences "extensive" geochemical field programme at 100% owned Ragged Range project located in the Pilbara, Western Australia. Says the field programme is designed to follow up previous finds from stream sediment samples collected across the tenements. "A number of gold targets have been identified from both previous geochemical programs and the airborne magnetic survey and we look forward to firming these up for the upcoming drilling program," says Executive Chair Mick Billing.
President Energy PLC - oil and gas company focusing on Latin America - Says its new well LB-1002 at the Las Bases field in Argentina has been successfully drilled to the target depth of 1,302 metres, logged and cased on time and budget. Says the well unexpectedly encountered certain swelling shales when drilling which affected progress downhole but these issues were successfully overcome. "It's very much step by step but it's good to get the first well of the programme drilled successfully and under our belt. We now move to the completion and the test of initial production with all present indications together with analogue well comparison supporting our pre-drill production estimates of volumes," says Peter Levine.
Empyrean Energy PLC - oil & gas development company with interests in China, Indonesia and US - Upgrades geological chance of success at its jade and topaz prospects on Block 29/11, offshore China, which have now increased to a 41% chance of success and 35%, respectively. "Whilst much of the major work in addressing the prospective resources and geological chance of success of our Chinese assets was completed some time ago, the company has been continuously reviewing the dataset in order to select the best prospect to drill first, resulting in the decision to prioritise Jade as a commitment well," says Chief Executive Tom Kelly.
CIP Merchant Capital Ltd - AIM-listed closed-ended investment company incorporated in Guernsey - Announces investment in artificial intelligence data analytics company Ixico PLC. Acquires 1.8 million shares or a 3.7% stake in Ixico for GBP1.2 million. Says Ixico "maintains a solid pipeline with a contracted order book underpinned by its advanced data analytics capability in neuroscience".
AfriTin Mining Ltd - tin miner with asset in Namibia - Advances its metallurgical test work programme at Uis mine. Says the Uis tin mine has exceeded production forecasts. "This provides the ideal platform for our metallurgical test work programme to investigate the potential of two major by-products, namely lithium oxide and tantalum. Successful implementation of by-product streams may significantly increase our profit margin and allow us to realise the goal of positioning the company in the lowest quartile of the world tin producer cost curve," says Chief Executive Anthony Viljoen.
Live Co Group PLC - live events and entertainment company - Says business in the fourth quarter of 2020 was impacted by further Coronavirus restrictions, leaving revenue "below our hopes". Says virus restrictions in first half of 2021 mean that any substantial turnover is not expected until the second half. Announces that 15 events are booked so far to take place globally in 2021 and five have postponed to 2022 with three yet to confirm their opening schedule.
InnovaDerma PLC - London-based developer of beauty, personal care and life science products - Plans to raise GBP500,000 via placing of 1.4 million shares to repay loan with Mark Ward.
Horizonte Minerals PLC - nickel company focused on Brazil - Says it plans to issue 88.1 million shares for gross proceeds of CAD11.7 million, or around GBP6.8 million, on Wednesday.
Caerus Mineral Resources PLC - exploration & resource development company - Says visible gold was recovered during the panning of randomly selected samples of drill chips collected during the drilling of the oxide zone on the Troulli licence in Cyprus. Says the 'gossan' and oxide zone, originally thought to be approximately 10 metres thick, has now been recorded to a depth from surface of up to 25 metres. Says this adds "significantly to the potential tonnage of higher grade, gold-bearing material for future processing".
Dev Clever Holdings PLC - career guidance and development platform - Inks agreement with Singapore-based immersive learning solutions provider Veative Labs Pte Ltd to acquire Veative Labs Private Ltd, a wholly owned Indian subsidiary of Veative for GBP54.8 million.
GYG PLC - yacht maintenance company - Confirms that Harwood Capital expressed its interest in making an offer for GYG. Says the possible offer "does not constitute a firm intention to make an offer" and GYG shareholders are strongly urged to take no further action at this time. Harwood Capital, one of the company's major shareholders, said on Friday it is in the preliminary stages of evaluating a possible offer for GYG.
Tricorn Group PLC - UK-based manufacturer of pipes - Announces that its application for the second draw US Payroll Protection Program loan, made in March, has been approved. The loan amounts to about GBP500,000
Pathfinder Minerals PLC - Mozambique-focused natural resources explorer - Estimates losses upwards of USD621.3 million in the unlawful transfer of mining title 4623C to an unconnected company by the Mozambican government. Says should the company continue to be unable to resolve the matter with the government of Mozambique, the board intends to pursue a claim under the bilateral investment treaty signed by Mozambique and the UK government, with the support of litigation funders. Says that if it refers the matter to the International Centre for Settlement of Investment Disputes, the ICSID tribunal would have the power to order the return of Mining Title 4623C to Pathfinder's control or to order payment of damages.
Chesterfield Resources PLC - copper explorer focused on Cyprus - Announces that it has commenced its 2021 mineral exploration campaign in Cyprus. Says the programme is to search for additional tonnage of copper, gold, silver and zinc after high grade intercepts were assayed in February.
United Oil & Gas PLC - oil and gas explorer - Says first quarter net working interest production averaged 2,520 barrels of oil per day, representing a 12% uplift quarter-on-quarter.
Independent Oil & Gas PLC - gas production in UK southern North Sea - Announces spudding of the Elgood development well. Elgood is the first of five planned development wells in the company's phase 1 project and is expected to take approximately three months to drill and complete.
Canadian Overseas Petroleum Ltd - oil and gas company focused on Sub-Saharan Africa - Updates on the timing for the cancellation and re-admission of its common shares on the London Stock Exchange. Has now postponed the formal cancellation date "to a date, yet to be determined, that will coincide with the re-admission of the shares on the LSE".
Cake Box Holdings PLC - eggless cake retailer - Expects record full-year revenue, up 16% to the year prior. Says it delivered a strong performance, with a sustained recovery in trading as shops began to reopen after the first UK lockdown in May last year. Says it opened 17 new stores in the year. Says pipeline of new stores remains very strong, with it currently holding franchisee deposits for 52 sites across the country. Results for the year ended March 31 are expected in June.
By Greg Roxburgh; firstname.lastname@example.org
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