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TRADING UPDATES: Polarean withdraws commercial targets on revenue drop

Thu, 07th Sep 2023 14:26

(Alliance News) - (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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Polarean Imaging PLC - London-based medical imaging technology developer - In the first half of 2023, revenue plunges by 83% to USD142,384 from USD834,087 a year before, as pretax loss widens to USD7.4 million from USD6.9 million. Chief Executive Officer Christopher von Jako says he is confident of product demand, but withdraws previously stated commercial targets, citing his experience that "early sales are often irregular and difficult to forecast" during the commercialisation process. "While I am confident in the demand for our product and its ability to gain commercial traction, we feel it is sensible to withdraw the previously stated commercial targets at this time. We will, however, be providing renewed guidance at a suitable time," he says.

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Chill Brands Group PLC - Colorado, US-based CBD products company - Says UK sales operations began in August, with sales to an initial 120 outlets. Notes an increase in e-commerce website traffic, citing the start of online vape sales. Says US pilot stores demonstrating product sell-through, and adds US vapour products range has been expanded to include between 1,500 and 3,000 devices.

Chief Executive Officer Callum Sommerton says: "The Chill Zero range of nicotine-free vape products is off to a great start. A successful entry into the UK and positive results from our US pilot stores reaffirm that this is a category with significant growth potential."

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Jaywing PLC - Sheffield-based data-driven advertising and marketing agency - Says for the year ended March 31, revenue fell by 5.2% to GBP22.1 million from GBP23.3 million a year prior, driven by weaker demand in the UK. Notes, however, demand in Australia has continued to grow, though at a slower rate than in financial 2022. Adds loss before tax widened to GBP12.5 million from GBP6.7 million the year before. Cites a goodwill impairment of GBP12.1 million. Looking ahead, expects "significant new business wins" in Australia to provide strong revenue and profit growth.

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Jadestone Energy PLC - Asia-Pacific-focused oil and gas firm progresses repairs at its Montara Venture floating production, storage and offloading vessel - Says production at Montara floating production storage and offloading vessel offshore Australia restarted on September 1. Says initial production averaged around 1,000 barrels per day from one well, while the FPSO's oil production and gas compression systems were recommissioned. Adds Ballast water tank 4P has returned to service following the completion of inspections. Says it will now use a smaller and lower cost shuttle tanker to provide additional storage for when the FPSO is constrained.

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Touchstar PLC - Glasgow, Scotland-based supplier of mobile data computing solutions and managed services to a variety of industrial sectors - Pretax profit in the six months ended June 30 multiplies to GBP307,000 from GBP104,000 the year before, as revenue rises by 19% to GBP3.7 million from GBP3.1 million a year prior. Proposes an interim dividend of 1.0 pence from no dividend the year prior. Adds order book and trading momentum underpins 2023 performance, adding its full-year expectations remain unchanged.

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De La Rue PLC - Security products maker - Says operating profit guidance for its full-year ending March 25 remains unchanged in the low GBP20 million range. Also expects net debt level at full and half year to meet forecast of GBP100 million.

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CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Says Chile subsidiaries, Atacama Salt Lakes SpA and Laguna Negro Francisco SpA have applied for special lithium operation contracts to advance lithium production in Chile. Says applications are for Laguna Verde and the Francisco Basin projects.

Chief Executive Officer Aldo Boitano says: "We are the first company in Chile to apply for the operating contracts since the National Lithium Strategy was announced in April 2023. We believe this marks a major step towards advancing lithium supply from Chile to the global battery manufacturing and electric vehicle market."

By Sabrina Penty; Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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TRADING UPDATES: Windward wins deal; Kodal progresses at Bougouni

(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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21 May 2024 12:30

CleanTech Lithium optimistic for future as reports widened loss

(Alliance News) - CleanTech Lithium PLC on Tuesday said it had an exciting year ahead as it posted a widened annual loss due to higher expenses.

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14 May 2024 19:41

TRADING UPDATES: Headlam warns of loss; EnSilica predicts revenue rise

(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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8 May 2024 16:27

TRADING UPDATES: Hellenic Dynamics and Ondine Biomedical raise funds

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

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22 Apr 2024 16:36

CleanTech Lithium completes acquisition of Laguna Verde licences

(Alliance News) - CleanTech Lithium PLC on Monday said it has officially acquired 23 Laguna Verde licences.

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12 Apr 2024 09:30

CleanTech ensures business as normal after chief executive resigns

(Alliance News) - CleanTech Lithium PLC on Friday said there will be no impact on company operations following the resignation of Chief Executive Officer Aldo Boitano.

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9 Apr 2024 20:51

CleanTech Lithium suspends CEO on providing shares as security to loan

(Alliance News) - CleanTech Lithium PLC on Tuesday said it has suspended Chief Executive Officer Aldo Boitano from his duties, pending an investigation into a loan he entered into with an unnamed lender.

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3 Apr 2024 15:15

TRADING UPDATES: Sutton Harbour refutes Plymouth City Council claims

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

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28 Mar 2024 09:12

CleanTech Lithium supports "positive" Chilean government decision

(Alliance News) - CleanTech Lithium PLC on Wednesday welcomed a decision by the Chilean government to involve the private sector in lithium production.

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20 Mar 2024 10:44

CleanTech Chile pilot plant starts operations, produces first eluate

(Alliance News) - CleanTech Lithium PLC on Wednesday said its pilot plant for direct lithium extraction has begun operations, and noted that the first lithium chloride eluate has been produced.

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20 Mar 2024 09:59

CleanTech pilot plant starts operations in Chile

(Sharecast News) - CleanTech Lithium announced the start of operations at its pilot plant on Wednesday, marking a significant milestone in its advancement of lithium projects in Chile.

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29 Feb 2024 14:12

IN BRIEF: CleanTech Lithium to publish Laguna Verde PFS in 3rd quarter

CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Expects to publish its pre-feasibility study for the Laguna Verde project in the third quarter of 2024. Says that the current drilling programme at Laguna Verde is designed to produce the first JORC compliant reserve estimate for the project. The drilling programme will also produce a hydrogeological model to design the extraction and reinjection wells to maximise the recovery of the lithium resource, it adds.

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30 Jan 2024 18:07

IN BRIEF: CleanTech Lithium reports positive process test work

CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Reports results of recent completed Direct Lithium Extraction process test work. Notes extensive DLE work undertaken in 2023 to optimise the process. Reports progress in the process work has now led to the selection of adsorbent from Xian Lanshen New Material Technology as the preferred adsorbent for the company's pilot plant.

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22 Jan 2024 17:44

IN BRIEF: CleanTech Lithium drilling second well at Laguna Verde

CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Confirms start of drilling of second well in its recently-commenced drilling programme at Laguna Verde. Programme aims to convert resources into reserves, upgrade the existing resource estimate, 1.8 million tonnes of lithium carbonate equivalent, and further establish commercial opportunity for its brine-based lithium project. CleanTech says two drill rigs are now operating simultaneously. Results from drilling and planned pump test and reinjection tests will be reported during the first half of this year.

Read more
8 Jan 2024 13:41

CleanTech begins new drilling programme at Laguna Verde

(Sharecast News) - CleanTech Lithium announced the start of an ambitious drilling programme at its Laguna Verde project on Monday, marking a significant step in its efforts to upgrade its existing JORC resources and convert resources into reserves.

Read more

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