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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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Capital Ltd - Africa-focused mining services firm - Reports revenue of USD44.0 million for first quarter, up 35% year-on-year and 27% above the fourth quarter of 2020. This marks strongest quarterly revenue performance since company's inception. Fleet Utilisation increased to 67%, up from 57% a year before. The "transformational" Sukari waste mining contract with Centamin PLC is progressing well, it adds. Says currently experiencing the strongest demand environment for drilling services in a decade. "Looking ahead and having been awarded a number of new contracts with both new and existing customers in West Africa, our rig utilisation is expected to remain strong. The execution of the early stages of the Sukari contracts for the waste stripping and additional drilling contracts is progressing well with revenue growth contribution set to accelerate through 2021, reaching full run rate in Q4," says Executive Chair Jamie Boyton.
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React Group PLC - South Derbyshire-based cleaning, hygiene and decontamination - Makes strong progress in six months to March 31, with 19% organic revenue growth to GBP2.5 million and 43% organic growth in gross profit to GBP1.0 million. "Growth was the result of strong underlying performance in the core business alongside some demand for Covid-19 decontaminations. Healthcare, rail and facilities management sectors performed well, augmented by incremental business in other areas such as education and residential care homes," company says. Expects earnings before interest, tax, depreciation and amortisation - before exceptional items relating to the acquisition of Fidelis and some restructuring - to be in excess of GBP350,000, "materially higher" than the GBP85,000 posted a year ago.
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Iofina PLC - iodine production in US state of Oklahoma - Achieves record sales of iodine and specialty chemicals in first quarter, as a result of a significant recovery in demand in the iodine market, combined with the availability of crystalline iodine inventory that had been stockpiled in second half of 2020. Produces 108.2 metric tonnes of crystalline iodine in quarter, down from 129.7 tonnes a year before, mainly due to extreme cold in the US in February which took production wells offline for approximately two weeks. Company is likely to achieve first half production of approximately 250 tonnes, below the 285 to 305 tonnes forecast. "Despite seeing lower production this quarter due to factors outside of our control, we were pleased with the sales figure for the period and are particularly encouraged to see the strong state of the iodine market and its recovery," says Chief Executive Tom Becker.
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Foresight Group Holdings Ltd - infrastructure and private equity investment manager - Reports year-end assets under management of GBP7.2 billion, up 60% from GBP4.5 billion at end of March 2020. "This significant increase in AUM is a combination of both organic and inorganic growth and includes the acquisition of the Pensions Infrastructure Platform in August 2020 as well as gross fundraising of approximately GBP1.2 billion during the year," company says. Prospects for institutional fundraising remain strong, with a number of funds expected to announce significant closes during the first half of the 2022 financial year. Operational margins remain robust, firm says, with core Ebitda in line with expectations. Recurring revenue at year-end remains "extremely high", in excess of 90%. "The outlook for both our core businesses is promising. We see great opportunities in renewable energy infrastructure as the world moves increasingly to a decarbonised future, and considerable potential for our regional private equity business to help recapitalise UK [small and medium enterprises] as the country looks to recover from the pandemic," says Executive Chair Bernard Fairman.
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Volex PLC - Basingstoke, England-based connectivity and power products maker - Says delivered "robust" performance in second half. Revenue for the financial year that ended April 4 to be ahead of market expectations and be at least USD440 million, while underlying operating profit is seen at a minimum of USD41 million, ahead of the most recently guided range. Expects to recommend a dividend for year no less than 2.2 pence. "Robust demand in the electric vehicle and consumer electronics markets underpinned our performance in the second half and, thanks to our diverse customer base and global footprint, we are well placed to deliver on the next stage of our development as we look to increase investment and grow our business," says Executive Chair Nat Rothschild.
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1Spatial PLC - Cambridge-based location data software provider - Says that following an initial trial and implementation phase, Google Real Estate & Workplace Services, a division of Alphabet Inc's Google, has extended its contract for services to support the licencing of 1Spatial's rules engine, 1Integrate, and cloud portal, 1Data Gateway. The extension to the contract is worth USD500,000 in services to be delivered in the current financial year. This amount is in addition to the annual term licenses for the current deployments of USD185,000 per year. The Google Real Estate & Workplace Services division manages the Google property estate, consisting of almost 900 buildings. "This extension of our engagement with Google highlights the value that world-leading businesses place on the quality of their data, especially as both businesses and its staff contemplate the future of the workplace, further spotlighting the integral role 1Spatial can play," says 1Spatial Chief Executive Claire Milverton.
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By Lucy Heming; lucyheming@alliancenews.com
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