(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
OnTheMarket PLC - UK property search portal - Says trading for financial year ended January 31 ahead of expectations, with revenue seen at GBP23 million - versus GBP18.8 million in the 2020 financial year - and adjusted operating profit expected at GBP2.3 million, swinging from a loss of GBP9.2 million. "These expected results reflect the measures taken during the year to support agents through customer discounts, whilst at the same time reducing costs and conserving cash, particularly through a reduction in marketing expenditure," company says. Back in December, OnTheMarket said it expected to report revenue of at least GBP22.5 million for its 2021 financial year and adjusted operating profit of at least GBP1.5 million.
Solid State PLC - Worcestershire-based computing products manufacturer - Says trading since half-year has continued to be "robust", with revenue for financial year ending March 31 expected to be broadly in line with consensus forecasts, while profit is anticipated to exceed expectations. Notes potential for programme delays in the 2022 financial year amid shortened customer order schedules and the effects of extending delivery times on semiconductor components, though the board currently expects trading activity to be comparable with this financial year. "We are very happy with the performance of the business this year. To be upgrading profit expectations ahead of last year, which was itself a record performance, given the challenges all businesses have faced, is testament to the hard work and commitment of the whole team and demonstrates the resilience of the business," says Chief Executive Solid State.
Shefa Gems Ltd - gemstone explorer in northern Israel - Granted by Israel's Ministry of Energy, Natural Resources Administration its second prospecting licence, for one of company's primary exploration targets, the Bat Shlomo project, taking it towards a 'certificate of discovery' and potentially a mining licence. This prospecting licence allows the company to carry out a work programme comprising of a drilling plan, a conceptual mining plan and the technical economic evaluation report which will provide the company with the work and capital costs of bringing the 'BTS' project into production.
Tirupati Graphite PLC - graphite and graphene producer in Madagascar and India - Completes trials and tests for the manufacture of battery grade spherical graphite, used in the anode of lithium-ion batteries, in tandem with a "globally recognised" German manufacturer of spheroidisation and micronisation equipment, achieving "significant results" in the end SPG product. "Our green credentials with zero-waste purification technology give us the ability to manufacture and supply our SPG products to [electric vehicle] makers as a preferred source, and we are very well positioned to benefit as an eco-friendly ex-China source of this critical material," says Executive Chair & Chief Executive Tirupati Graphite.
Medica Group PLC - teleradiology services provider - Forms joint venture with Integral Diagnostics Ltd, MedX, to provide teleradiology reporting services and increased reporting capacity in Australia, New Zealand, the UK and Ireland. The primary short-term focus will be for MedX to provide access to a pool of dual-qualified radiologists who are able to operate in both markets and will support both companies' acute, out-of-hours reporting services. The two partners also will collaborate in areas of mutual interest, including deployment of augmented intelligence solutions. Says there is potential to expand scope of the venture in future.
Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - Says pandemic has continued to hit overall level of orders, particularly in security. This has been most noticeable in delays to the placing of larger, multi-unit orders by government customers. Adds that the order pipeline in both security and industrial markets is "showing some signs of recovery" and the performance in the second half will be dependent on "timely receipt" of those orders. Cash balance of GBP1.1 million as of January 31.
Air Partner PLC - Gatwick, West Sussex-based aviation services group - Says enjoyed "strong" financial year, which ended January 31, driven by exceptional levels of Covid-19 related activity in its Group Charter and Freight divisions in the first half, notably evacuations and the transportation of PPE. Private Jets and Safety & Security were hit by government restrictions and airport closures. Intends to announce final dividend of 1.6 pence per share, bringing year's total payout to 2.4p. Adds that group has made a profitable start to new year, with base case to deliver profit for the 2022 financial year in line with the 2020 year, despite continued global restrictions on passenger movements.
Orchard Funding Group PLC - insurance premium finance and professions funding company - Says performance in six months to January 31 was in line with board expectations. Says lending in period GBP30.0 million, down 21% on a year ago. "Revenue for the first half is expected to be broadly in line with expectations, while costs have remained stable. Whilst the board is confident of the long-term prospects of the group, it remains mindful of the downward pressure on lending caused by COVID-19, consequential lockdowns and ongoing economic uncertainty in the second half," says Orchard.
Benchmark Holdings PLC - Sheffield, England-based aquaculture genetics and nutrition - Says revenue from continuing operations for first quarter - being the three months ended December 31 - was GBP29.0 million, up from GBP24.7 million a year ago. Pretax loss slims to GBP515,000 from GBP3.2 million. "We have had a positive start to 2021 with good trading, improved Q1 profitability and delivery against our strategic priorities in each of our three business areas. The benefits of operating as a streamlined, increasingly integrated aquaculture business are starting to be realised. Our focus remains on becoming sustainably profitable, maintaining financial strength through the ongoing pandemic and continuing to invest selectively in our business to deliver future growth," says Chief Executive Trond Williksen.
President Energy PLC - oil and gas company focusing on Latin America - Reports turnover of around USD28 million for 2020, down 32% on the year before due to average oil price realisations falling 33% to USD37 per barrel. Adjusted earnings before interest, taxes, depreciation and amortisation around USD3 million. Average net group production up 12% year-on-year to over 2,700 barrels of oil equivalent per day, and notes December average production around 3,300 barrels per day. Expects 2021 average production of 3,600 to 4,000 boepd.
Bluebird Merchant Ventures Ltd - Korean-focused gold development group - Continues to have "constructive discussion" with Southern Gold over the settlement and acquisition of Southern Gold's 50% joint venture interest. Bluebird says confident that a "win-win" solution can be achieved for both Bluebird and Southern Gold. Adds that third tranche of non-dilutive funding to be delivered in March for construction at Kochang.
CentralNic Group PLC - London-based domain name registry and registrar services firm - Agrees to buy Wando Internet Solutions GmbH for initial EUR5.4 million, with transaction expected to close on Monday. Based in Berlin, Germany, Wando is a technology company operating in the fields of social marketing, display advertising and SEM advertising. Wando sellers may earn up to another EUR5.4 million payable in the third quarter of 2022, subject to stretched performance targets being met.
By Lucy Heming;Â email@example.com
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