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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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Afentra PLC - upstream operator in Africa with carried interest in Odewayne block onshore southwestern Somaliland - Sees pretax loss in six months to June 30 widen to USD2.4 million from USD866,000 a year ago. Administrative costs more than double to USD2.5 million from USD1.1 million. "2021 has been an eventful period during which we have established Afentra plc and set the company on an exciting strategic path. The market drivers for the energy transition across Africa are presenting a wide range of compelling opportunities and we believe that our proven operating track record, focused ESG agenda, strong balance sheet and supportive shareholder base put us in a unique position to capitalise on these opportunities," says company. In March 2021 the Company shifted focus to support a responsible energy transition in Africa by establishing itself as a credible partner for divesting international oil companies and host governments. The company is specifically targeting producing assets and discovered resources in Africa.
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Ascent Resources PLC - onshore Caribbean, Hispanic American and European focused energy and natural resources company - Sees pretax loss narrow in first half of 2021 to GBP1.1 million from GBP1.2 million a year ago. Administrative expenses fall 13% to GBP826,000 from GBP945,000. Company does not post revenue. "The team continue to work diligently across our key corporate priorities which include funding the Slovenia ECT claim and delivering a maiden ESG metals transaction," says company.
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Bacanora Lithium PLC - developer of Sonora lithium project in Mexico - Swings to pretax profit of USD33.5 million from USD4.7 million loss a year ago. Posts a USD31.9 million gain on change in control of subsidiaries, as well as USD4.2 million in distribution income on release of payable. "During the first half of the year, the company achieved one of its major milestones to date being the successful conclusion of the GBP48 million equity fundraise. This financing, combined with the GBP24 million funds raised from Ganfeng exercising its pre-emption rights, ensures the company now has sufficient funds to support the short-term funding requirements and the construction programme for the next 15 months... The second half of the year will see early initial earthworks to prepare the site for construction activities and commencement of building the construction camp and ancillary facilities." says company.
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Cairn Homes PLC - Irish homebuilding company - Posts pretax profit of EUR6.4 million, rising sharply from EUR1.2 million a year prior. Revenue jumps 61% to EUR130.6 million from EUR80.9 million. Brings back interim dividend of 2.66 euro cents per share. "The board is reimplementing our long-term annual dividend programme and we expect annual dividends for 2021 and 2022 will be at a minimum level of EUR40 million each year and thereafter will be at a pay-out ratio of 40% to 50% of distributable profits. Dividends will be paid by way of interim and final dividends, commencing with today's declared interim dividend," says company. "The demand for new homes in Ireland is at its strongest level since we started business and with the Irish economy continuing to rebound and grow, we remain positive and ambitious for our future growth prospects," company adds.
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Cenkos Securities PLC - London-based securities services provider - Reports pretax profit of GBP1.7 million, rising from GBP753,000 million a year ago. Revenue increases 37% to GBP18.2 million from GBP13.3 million. Proposes an interim dividend of 1.25 pence per share, up 25% from 1.0p a year ago. "Since the end of the period, the completion of 2 IPOs and a further 8 fundraisings further demonstrate the ongoing strength of the business and its pipeline. Whilst we cannot always assume favourable conditions within equity markets, by continuing to lay the groundwork for growth and through our tenacity and long-term partnering with clients, we see reasons for optimism for the remainder of 2021 and beyond," says company.
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Chaarat Gold Holdings Ltd - gold miner in Armenia and mine developer in Kyrgyz Republic - Swings to pretax profit in six months to end-June of USD3.5 million from USD13.5 million loss a year ago. Revenue jumps 61% to USD48.1 million from USD29.9 million. "At Kapan, we are pleased to report that we are on track to meet our operational guidance of 57,000 ounces for 2021... At Tulkubash, we are pleased to report that the equity portion for the project construction was raised in February 2021 and we expect that despite the challenges to the market perception the Kumtor situation has caused, we will finalise the debt financing in H2 2021 and advance the project in accordance with the budget and updated schedule." says company.
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Coro Energy PLC - South East Asian energy company - Sees pretax loss narrow in first half of 2021 to USD2.8 million from USD4.9 million a year ago. Finance income increases to USD1.2 million from USD25,000. "Having secured an exciting portfolio of clean energy projects across the South East Asian region, the company is well placed to continue this momentum through the remainder of 2021 and into next year. Planning and permitting activities will continue for our priority projects in the Philippines, with the first major milestone being awarded by the department of energy," company says.
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Curtis Banks Group PLC - Bristol-based provider of self-invested personal pensions - Posts pretax profit for six months to end-June of GBP4.5 million, up 13% from GBP4.0 million a year ago. Revenue increases 29% to GBP31.7 million from GBP24.5 million. Administrative expenses jumped to GBP26.2 million from GBP20.0 million. Declares interim dividend of 2.5p per share, same as last year. "The second half of the year is gearing up to be a busy period. As part of our effort to reach new areas of an ever-increasing addressable market, Curtis Banks is evolving from a primarily focused SIPP administrator to a more holistic retirement group which provides technology and complementary services to the advised retirement market. I look forward to updating you all at the full year as we continue to evidence good progress on our long-term plans for growth and diversification," company says.
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Destiny Pharma PLC - Brighton, England-based biotechnology firm - Posts pretax loss of GBP3.0 million in six months to end-June, widening from GBP2.9 million a year ago due to an increased share option charge of GBP210,549 from GBP58,668 last year. "There is increased international support for the development of novel anti-infective drugs that address the issue of anti-microbial resistance and Destiny Pharma's unique platform is very well-positioned to meet this global need. The significant healthcare and economic impact of Covid-19 has clearly highlighted the global need for innovation that delivers fast, safe and affordable anti-infection treatments," says company.
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Fair Oaks Income Ltd - Guernsey-based closed-ended investor in collateralised loan obligations - Reports net asset value per Realisation share of USD0.6857 at June 30, rising 8.7% from USD0.6306 on December 31. NAV total return per 2021 share, for the six month to June 30 on total return basis, was 17.1%, compared to a negative return of 33.3% a year prior. The company declared dividends of 4.75 US cents per 2021 share and Realisation share in the first half of 2021.
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Jadestone Energy PLC - oil and gas producer in Asia-Pacific region - Pretax profit falls 13% to USD11.1 million in first half of 2021 from USD12.8 million a year ago. Production costs jump 40% to USD62.5 million from USD44.5 million. Revenue increases 19% to USD138.2 million from USD115.7 million. Production falls to 9,934 barrels of oil per day from 12,116 barrels, while price per barrel rose to USD67.70 from USD46.47. Declares interim dividend of 0.59 US cents per share, up from 0.54 cents last year. Reaffirms production guidance for 2021 of 11,500 to 13,500 barrels of oil equivalent per day.
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LungLife AI Inc - Thousand Oaks, California-based developer of clinical diagnostic solutions for lung cancer enhanced by artificial intelligence - Reports pretax loss in the six months to June 30 of USD4.6 million widened from USD2.1 million a year ago. Administrative fees rose to USD2.2 million from USD1.6 million, while IPO knocked off a further USD2.1 million. Revenue rises to USD107,012 from USD101,066. "The funding provided through our AIM IPO allows us to proceed to a larger multi-centre pivotal validation study and secure regulatory authorisation and reimbursement support. We are now laying the groundwork for successful implementation of our clinical programmes," says company.
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National World PLC - investment business focused on news publishing - Reports pretax loss in 26 weeks to July 3 of GBP900,000, widened from GBP100,000 a year ago. Posts revenue of GBP42.1 million, compared to no revenue last year. "The scene is set for further organic growth in audience based on original content not available elsewhere and further acquisitions. These will support first and foremost the increase in our digital capabilities and assist in the creation of a sustainable growth publishing model. We will also consider heritage assets at an appropriate valuation," says company. Expects trading for the full year to be in line with market expectations despite an increase in newsprint prices in the second half of the year mitigated by further cost savings.
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Oakley Capital Investments Ltd - listed investment company providing investors access to the Oakley Funds - Posts net asset value per share of 445 pence at June 30, up 11% since December 31, 2020. Declares interim dividend of 2.25p per share, unchanged year-on-year. "OCI's portfolio has sustained its pattern of strong performance in spite of ongoing Covid-related uncertainty. Impressive earnings growth continues to drive NAV growth, helped by the digital focus of the portfolio companies and the products and services they deliver. The board is pleased to underline that we remain confident in the long-term outlook for the Oakley Funds and their ability to continue generating consistent value for investors," says company.
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STV Group PLC - Glasgow-based television broadcaster - Reports pretax profit of GBP8.5 million in first half of 2021, swinging from GBP4.9 million loss a year prior. Revenue jumps 35% to GBP60.3 million from GBP44.7 million. Increases interim dividened to 3.7p per share, up 23% from 3.0p. "Our high margin digital business continues to accelerate with streams nearly doubling so far this year and much more to look forward to for the remainder of 2021, with a new drama boxset drop on the STV Player every week, together with huge events like I'm a Celebrity and the return of the FA Cup," says company. Additionally announces acquisition of Brighton-based unscripted production company Hello Mary. "[Hello Mary Chief Executive Steve Regan] is an absolute force of nature and one of the most talented unscripted producers working in British television, so we're really thrilled that Hello Mary has joined the STV Studios family. Our creative partnerships each bring something different and special to the mix, and we can't wait to see what's next from this ambitious and entrepreneurial indie," says STV Studio Managing Director David Mortimer.
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Sportech PLC - London-based betting technology company - Swings to pretax profit from continuing operations for the first half of 2021, turning a GBP1.2 million profit from a GBP9.0 million loss a year ago. Revenue rises to GBP13.4 million from GBP8.4 million. "Developing the sports betting opportunity in Connecticut with our partners, driving further growth opportunities and effective cost management remain priorities for management. Enhancing Group value remains the board's key focus and the Group strategy is structured accordingly with regard to this central measure. Timing around the commencement of Sports Betting in Connecticut is unclear at the time of writing, resulting in fluid financial forecasting," says company.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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