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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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PZ Cussons PLC - Manchester-based personal and home care and beauty products - For the financial year that ended May 31, expects adjusted pretax profit to be ahead of consensus expectations of GBP63 million to GBP64 million, and the prior year figure of GBP62 million. Overall gross margin has improved on a positive price and product mix. Revenue set to grow 7% on constant currency basis from GBP587.2 million, with strong performances from Hygiene, Baby & Beauty.
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Rank Group PLC - Maidenhead, Berkshire-based casino operator - For the first six weeks since reopening, trading has been in line with management expectations, with net gaming revenue down 19% on a like-for-like basis versus the same period in 2019. Average weekly NGR stands at GBP8.6 million, above the GBP7.1 million breakeven point. Rank says digital business in the fourth quarter is set to be at a level between that achieved in the second and third quarter. In addition, the company notes a ruling in its favour by the first-tier tax tribunal on its claim to be refunded value-added tax on slot machine income for between April 2006 and January 2013. UK tax collector HMRC has 56 days to appeal. Rank expects value of the refund to be in line with its prior estimate of GBP80 million.
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Revolution Bars Group PLC - Ashton-under-Lyne, England-based bar chain - For the financial year ending July 3, expects performance to be ahead of management expectations, with a loss before interest, tax, depreciation and amortisation of GBP12.5 million, and net bank debt at GBP5 million. Since May 17, trading has improved to a seating capacity of 89% compared to the same period in 2019. In addition, revenue is set to be ahead of prior expectations, with a significant amount of pent-up demand still existing. Further strong trading anticipated as remaining restrictions are set to fall away.
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Various Eateries PLC - owner, developer and operator of restaurant and hotel sites in the UK - Working with German insurer Allianz SE to seek judicial determination over several issues affecting company's business interruption claim for Covid-19 relation losses. Wishes to obtain certainty on the amount of insurances proceeds due to it.
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Altitude Group PLC - Sheffield-based firm operating a marketplace for personalised products - For the financial year that ended March 31, expects to report revenue on no less than GBP7.4 million, compared to GBP8.3 million the year before. Gross profit set to be at least GBP5.2 million, versus GBP5.3 million the prior year. For the first quarter ended June 30, notes rising purchase orders from AIM platform, leading to June 2021 order value beating both 2019 and 2020 levels.
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McKay Securities PLC - South East and London-focused office property investor - In first quarter ended June 30, 95% of all March 2021 quarter rents received, ahead of the 82% collected in the same period a year prior. During the period, completes four new lettings with combined contracted rent of GBP225,630 per annum. As at June 30, net debt at GBP141.6 million, flat from GBP141.8 million at the end of March.
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Springfield Properties PLC - housebuilder in Scotland - For the financial year ended May 31, expects revenue to be record GBP215 million, a 49% rise from GBP144.4 million the year before, driven by higher sales in private housing and strategic land. This has led to expectations of a "substantial increase" in pretax profit from GBP9.7 million the prior year.
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Cairn Homes PLC - Irish homebuilding company - For the six months ended June 30, reports EUR131 million in revenue from 403 new home sales, compared to EUR81 million from 207 sales in the same period a year prior. Has closed and forward sales pipeline of 1,350 new homes with a net sales value of EUR560 million, an increase of EUR253 million from March 2. For 2021 as a whole, gross margin is expected to be around 18.5%, as house price inflation has been ahead of build cost inflation.
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Biome Technologies PLC - Southampton, England-based developer of biodegradable natural polymers and radio frequency systems - For 2021, expects underlying Ebitda loss to widen beyond market expectations, as well as revenue for 2021 and 2022 to be materially below expectations. This is due to the pandemic causing significant disruption in the global shipping industry, upon which Biome's Bioplastics division is heavily dependent, amid delays and cancellations. Looking ahead, there is no sign that the disruption to shipping and ports will be resolved soon.
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Headlam Group PLC - Birmingham-based floor coverings - Revenue for 2021 to date in line with comparative period in 2019, and 46% ahead of same period in 2020, which was weighed down by the virus pandemic. Residential sector remains strong, and Commercial sector is recovering from earlier weaknesses.
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Zoetic International PLC - London-based cannabidiol products - Launches new thechillwayuk website in the UK, acquires website domain Chill.com, and makes further sales of USD720,000 to its US distributor for Chill smokes and chews.
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Scirocco Energy PLC - Leeds, England-based oil & gas investment company - Operator ARA Petroleum Tanzania completes tendering work for acquisition of 454 kilometres 3D seismic and contract award on Ruvuma PSA. Chikumbi-1 exploration and appraisal well is expected to spud early in third quarter of 2022, with first gas expected by the end of 2024.
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Oriole Resources PLC - exploration company operating in Africa and Europe - At Thani Stratex Djibouti at Assaleyta project, the best results from reverse circulation drilling in the phase two exploration programme include 16.0 metres grading 1.08 grams per tonne of gold from 12.00 meters. A total of 1,106 diamond core and RC samples from Assaleyta are awaiting ministerial clearance in Djibouti , with final gold assay results expected in the second half of 2021.
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Shanta Gold Ltd - New Luika and Singida projects in Tanzania and West Kenya project in Kenya - Following drilling of 2,572 metres through 15 holes at Isulu and Bushiangala deposits in West Kenya, visible gold was identified in four different intersections. True width is identified at around 60% to 70% of the intercept core length. Up to 40% of total planned drilling set to be completed by the end of 2021.
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Castillo Copper Ltd - base metal explorer focused on Australia and Zambia - To start comprehensive induced polarisation survey across the Luanshya and Mkushi projects in Zambia's copper-belt. Campaign expected to take six to eight weeks to complete and analyse results.
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Altus Strategies PLC - mining royalty company - Announces discovery of high-grade copper and silver from exploration at Azrar, Izougza and Tata projects totalling 252 kilometres, located in Morocco. From Izougza, results show up to 8.37% copper in breccia, in Azrar there was 3.41% copper and 56 grams per tonne of silver in breccia. Finally, Tata held up to 0.24% copper in sediments. Exploration is now underway on the Jafra, Tiddas and Amsa projects.
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UK Oil & Gas PLC - London-headquartered exploration and production company - Following completion of Basur-3 appraisal well drilling, 13 3/8 inch casing has been set, and cemented down to a drilled depth of 367 metres. Drilling will then resume in 12 1/4 inch hole section, the base of which is intended to penetrate the Garzan limestone.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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