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TRADING UPDATES: Cerillion profit up; Iofina says iodine demand strong

Tue, 19th Apr 2022 12:02

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Cerillion PLC - London-based billing and customer relations management software - Says trading in six months March 31 "vert strong". Expects revenue ro rise 26% annually to GBP16.1 million. Adjusted earnings before interest, tax, depreciation and amortisation to jump 48% to GBP7.1 million. "Cerillion's sales pipeline remains strong and this, together with the record performance in the first half of the year, underpins the board's confidence that trading for the full year will be in line with its expectations," Cerillion says. "The excellent performance in the first half reflects on-going work on new customer implementation projects and strong demand from existing customers, against a wider back-drop of continuing strength in demand for telecoms services and substantial ongoing investment in 5G and fibre rollout."

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Iofina PLC - London-based iodine and chemical product manufacturer - Says "experiencing robust demand for iodine and iodine derivatives". Says iodine spot prices reach USD60 a kilogramme, rising 20% since start of year. Produces 103.8 metric tonnes of crystalline iodine from Oklahoma, US plants in first quarter. On track for annual target of 225 to 240 metric tonnes.

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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company - Says affiliate COPL America Inc signs deal to buy assets from Cuda Energy LLC. Canadian Overseas signs USD20.0 million bridge loan to finance deal. In addition, it plans USD10.0 million placing and subscription. Cuda has interests in Wyoming, US.

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Anglo Pacific Group PLC - natural resources royalty and streaming - Receives favourable judgement in dispute with Quasar Resources Pty Ltd, operator of Four Mile uranium mine. Anglo Pacific has 1% net smelter return royalty at asset. Dispute, which dates back to 2016, related to level of charges being applied to calculate net smelter return revenue. Supreme Court of Western Australia rules in Anglo Pacific's favour and decides any costs at asset, and also Beverley processing plant, should be applied as permitted allocable charges. Company adds: "The parties must now finalise orders to be submitted to the judge by 22 April 2022. The group will make a further announcement after such date detailing amounts owed to the group from Quasar and the future application of the royalty. Quasar have 21 days from the date the final orders are made by the judge to appeal the decision."

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Altus Strategies PLC - Oxfordshire, England-based mining royalty company - Granted gold mining licence for Korali Sud licence in Mali, which includes Diba project. Calls on Bristol, UK-based Mining Plus UK Ltd to conduct mineral resource estimate and preliminary economic assessment.

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Invinity Energy Systems PLC - London-based energy storage company - Secures trio of International Organization for Standardization certifications for quality management, environmental management and health & safety management. "The individual standards to which Invinity is now certified are core to the company's business," Invinity adds.

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Velocys PLC - Oxford-based sustainable fuel technology company - Agrees with British Airways to extend Altalto project and option agreement for another year to March 31, 2023. BA has option to acquire 50% of Altalto Ltd, which turns household and commercial waste into clean-burning fuels. In addition, company draws back to its recent announcement in relation to securing a deal with a European renewable fuels developer. As part of this pact, Velocys will offer initial engineering services to a project." While revenue for deal will be small, Velocys says pact "broadens" its customer base.

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Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Granted payment services approval in Mauiritius. Company says this allows Mauritius arm to provide payment services and merchant online services for accepting electronic payments. "Mauritius has become an important financial services hub for Africa and South Asia," Tintra says.

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Bango PLC - Cambridge-based data-driven commerce company - Signs deal to support

T-Mobile US Inc's third-party products offering within Bango Platform. "Bango enables T-Mobile to rapidly and cost effectively scale-up value-added-service offerings, giving customers choice and value across a growing range of subscription products and services. With this new agreement, a majority of US telco customers will now be served through Bango technology," Bango explains.

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SysGroup PLC - Liverpool-based IT services and cloud-hosting provider - Expects to report adjusted earnings before interest, tax, depreciation and amortisation of GBP2.8 million for year ended March 31, down from GBP2.9 million in prior year but largely in line with figure for financial 2020. SysGroup says this is despite "external challenges faced throughout our industry over the last 2 years". Revenue for year expected to decline as customers defer IT spend. SysGroup adds: "Encouragingly, during the latter part of H2 FY22, we have started to see enhanced trading conditions with both new and existing clients. Whilst not yet at pre-pandemic levels, customers are once again starting to feel confident to commit to spending on enhancements to their essential IT services."

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Venture Life Group PLC - Berkshire, England-based self-care product manufacturer and distributor - Reiterates 2021 guidance. Expects to post revenue rise of 8.3% to GBP32.6 million from GBP30.1 million. Revenue in second half alone rises 35% year-on-year to GBP18.7 million. Adjusted earnings before interest, tax, depreciation and amortisation to be in line with market expectations. On ongoing audit, Venture Life says its auditors "continue to experience resourcing issues". Additional time is needed to complete audit procedures and 2021 results expected to be announced in "early May".

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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LONDON BRIEFING: Games Workshop seals Amazon deal for Warhammer 40,000

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15 Nov 2023 14:20

Canadian Overseas shares drop as downtime hits crude oil sales

(Alliance News) - Canadian Overseas Petroleum Ltd on Wednesday said petroleum sales increased in its latest quarter due to rising oil prices, but that crude oil sales fell due to repair work at multiple wells.

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7 Nov 2023 19:29

EXECUTIVE CHANGES: Psych Capital names new CEO; Shuka appoints chair

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:

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13 Oct 2023 14:13

IN BRIEF: Canadian Overseas Petroleum raises USD4 million in financing

Canadian Overseas Petroleum Ltd - International oil and gas exploration, production and development company with production and development operations focused in Converse and Natrona counties, Wyoming - Confirms that it has received USD4 million, at 2.6 pence per share, to conclude the financing announced on October 6. As part of its liquidity management and in conjunction with the terms of the financing, Canadian Overseas Petroleum says that it will be settling amounts owed to various creditors in shares over the coming weeks.

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6 Oct 2023 14:07

Canadian Overseas Petroleum raises more equity but at lower price

(Alliance News) - Canadian Overseas Petroleum Ltd on Friday said it raised more equity investment than expected but at a much lower price than originally planned, following a share price tumble over the past month.

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2 Oct 2023 18:40

EARNINGS AND TRADING: EDX Medical reports loss; Brandshield CFO leaves

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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6 Sep 2023 12:59

Canadian Overseas Petroleum improves finances, picks new chair and CEO

(Alliance News) - Canadian Overseas Petroleum Ltd on Wednesday announced a series of improvements to its financing situation, while also installing a new board chair and chief executive officer.

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15 Aug 2023 14:27

Canadian Overseas sells more but cheaper oil in second quarter

(Alliance News) - Canadian Overseas Petroleum Ltd on Tuesday reported it sold more oil in the second quarter of 2023 than a year ago, albeit lower prices reduced revenue.

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24 Jul 2023 10:26

IN BRIEF: Canadian Overseas Petroleum affiliate secures Wyoming deal

Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company with production and development operations focused in the Converse and Natrona counties, Wyoming - Announces its COPL America affiliate signs non-binding letter of intent for a joint venture with "an established energy company" to develop and exploit oil reserves at the Cole Creek join-venture in Converse and Natrona counties, Wyoming.

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24 Jul 2023 09:24

SMALL-CAP WINNERS & LOSERS: S4 Capital shares drop as guidance lowered

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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6 Jul 2023 15:47

IN BRIEF: Canadian Overseas reports quarterly oil production rebound

Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company with production and development operations focused in the Converse and Natrona counties, Wyoming - Says that oil production in the second quarter rebounded to an average of 1,250 barrels of oil per day, with production for the month of June averaging 1,249 barrels. Pipelining at the Barron Flats Shannon Unit caused intermittent interruptions in injection volumes and production volumes due to temporary shutdown of certain injection wells and production wells.

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26 Jun 2023 20:05

TRADING UPDATES: WANDisco in extra cost savings; SRT raises GBP750,000

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Monday and not separately reported by Alliance News:

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20 Jun 2023 15:10

IN BRIEF: Canadian Overseas Petroleum chair steps down, interim hired

Canadian Overseas Petroleum Ltd - Calgary-based oil and gas company with operations focused in Wyoming, US - Chair Harald Ludwig steps down from board with immediate effect. Says John Cowan will become interim chair. As board director Massimo Carello also leaves with immediate effect, says the board now consists of three non-executive directors and one executive director. There are currently no plans to appoint new directors, Canadian Oversea Petroleum says.

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16 Jun 2023 09:19

IN BRIEF: Canadian Overseas shares down on conversion of bonds

Canadian Overseas Petroleum Ltd - Calgary-based oil and gas company with operations focused in Wyoming, US - Issues 25.9 million common shares to settle USD1.3 million of conversion payments. Following the issue of the shares, the company will have a total of 477.5 million shares issued and outstanding.

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5 Jun 2023 13:57

IN BRIEF: Canadian Overseas production recovers after extreme weather

Canadian Overseas Petroleum Ltd - Calgary-based oil and gas company with operations focused in Wyoming, US - Says oil production is increasing due in part to resumption of optimisation programme after disruptions caused by severe winter weather, which reduced sales in the fourth quarter. Average gross production increased 14% to 1,330 barrels of oil per day in May from 1,170 barrels in April. Meanwhile conversions of three Barron Flats Shannon Unit flowing wells to pumping-flowing wells have been completed. The first was converted in April with production more than doubled to 190 barrels per day in May up from 90 barrels pre-conversion. The second well is not yet stable but is producing above pre-conversion levels. The company is planning paraffin treatment schedules to rectify this. Production on the third well resumed on May 31. Canadian Overseas also says the initial phase of the second Cole Creek Unit re-completion for frontier one oil production has been completed, with oil inflow observed upon perforation.

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