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UK TRADING UPDATE SUMMARY: Virus Hits Mears But Tristel Gets Boost

Wed, 22nd Jul 2020 17:57

(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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Mears Group PLC - services provider to the UK's housing sector - Expects revenue from continuing activities in the first half to June 30 to fall 7.7% annually to GBP405 million from GBP439 million. Expects a pretax loss on continuing activities and before the amortisation of acquisition intangibles to be around GBP6.0 million, swinging from a GBP16.7 million profit. Expects a recovery in activity in second half, assuming Covid-19 infection levels remain low.

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Tristel PLC - Cambridgeshire-based manufacturer of infection prevention products - Results for year ended June 30 will be ahead of market expectations, with revenue coming in at GBP31.6 million, a 21% increase, and adjusted pretax profit rising at the same rate to GBP6.8 million. During the final four months of the year when Covid-19 impact was it its greatest, sales rose 30% annually.

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Barkby Group PLC - owner of businesses in real estate, consumer & hospitality and life sciences sectors - Withdraws forecast of Ebitda of GBP3.5 million for year ended June 30, due to Covid-19. Also secures GBP1 million loan under UK's coronavirus business interruption scheme. Notes Commercial Property Development completed construction of Hastings development in June. Hospitality arm made "positive" start to 2020 before Covid-19 interruption.

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Itaconix PLC - polymers maker - Expects revenue growth of 80% to USD1.1 million in six months to June 30. Notes several customers have boosted size of recurring orders due to increased demand amid Covid-19.

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Boku Inc - US-based mobile payments solution provider - Revenue for six months to June 30 expected to be at least USD24.7 million, a rise of 5.1% from USD23.5 million reported a year ago. Annual earnings before interest, tax, depreciation, and amortisation are expected in line with expectations and 65% higher from 2019.

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MobilityOne Ltd - e-commerce infrastructure payment solutions and platform provider - Says 50%-owned remittance firm OneTransfer Remittance Sdn Bhd signs money transfer agreement with MoneyGram Payment Systems Inc. Agreement means OTR customers can send money on MoneyGram platform.

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Blancco Technology Group PLC - data erasure firm with a sales office in Hertfordshire - Despite Covid-19 lengthening sales cycles, performance in year to June 30 was in line with market expectations with revenue inching 9.5% higher to GBP33.4 million from GBP30.5 million. Adjusted operating profit tipped to rise 14% to GBP4.0 million.

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Cloudcall Group PLC - cloud-based software firm with offices in Leicester, Sydney and Boston, US - Says revenue in six months to June 30 up 11% annually to GBP5.8 million. Recurring subscriptions up 20% to GBP5.1 million and users up 19% to 43,815.

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Quixant PLC - Cambridge-based technology outsourcer for gaming industry - Says key gaming unit sees "minimal" order over past three months as most clients closed due to Covid-19. The Densitron business unit however, has "experienced healthy demand from a range of industrial sectors".

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Empresaria Group PLC - West Sussex-based staffing firm - Profitable in both quarters during the six months ended June 30, despite Covid-19. Second quarter net fee income plunged 39% annually, contributing to a 22% fall in the whole of the first half to GBP28.2 million from GBP36.3 million. Made cost savings however, second quarter expenses were 30% lower year-on-year, after the first quarter when they fell 23%.

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Anexo Group PLC - Liverpool-based legal services provider - Trading continuing in line with expectations and plans to reinstate financial guidance for 2020 in its August interim report. Note some staff in its Bond Turner legal services division are returning to office working as Covid-19 lockdowns ease.

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Avacta Group PLC - Wetherby-based biotherapeutics firm - To begin clinical validation of Covid-19 laboratory test being developed by US-based Adeptrix as part of a UK government scheme.

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Resolute Mining Ltd - gold miner with assets in Senegal and Mali - Gold poured in quarter ended June down 3.2% to 107,183 ounces from 110,763 ounces in March. On track for 430,000 ounces poured in 2020.

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Alba Mineral Resources PLC - mineral exploration and development company with gold asset in Wales - Notes work activity as resumed at Clogau gold project, Wales following Covid-19 lockdown. Says priority for summer 2020 is completing underground bulk sampling programme, upon receipt of regulatory consent.

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Pure Gold Mining Inc Canada-based gold mine developer - Ontario Ministry of the Environment, Conservation & Parks approves and issues amended environmental compliance approval for air and noise emissions at Red Lake mine.

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Danakali Ltd - potash miner - Reports that notice of commencement of mine development at Colluli asset accepted by Eritrean Ministry of Energy & Mines.

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Predator Oil & Gas Holdings PLC - Jersey-based oil and gas company - Has made an offer to acquire Columbus Energy Resources PLC's stake in Inniss-Trinity CO2 project in Trinidad. Predator has option acquire interest for USD4.2 million but Predator's offer totalled USD1.8 million, so Columbus rejected.

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Jangada Mines PLC - natural resources company with vanadium asset in Brazil - reports "overwhelming success" from drilling campaign at its Pitombeiras vanadium project, Brazil. Received final five assay results received from the Goela target at project.

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Bluejay Mining PLC - explorer with assets in Greenland and Finland - Says agreement with "multinational commodity trading firm" at Dundas ilmenite project has increased. Offtake pact up 50% to between 250,000 and 300,000 tonnes per year, extending agreement by three months to October 31.

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Great Western Mining Corp PLC - mineral explorer with gold project in Nevada - Notes initial work has begun at the Trafalgar Hill, West Ridge and Rhyolite Dome targets at the Olympic Gold project in Nevada.

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Gunsynd PLC - London-based investment firm - Invests AUD200,000, about GBP110,000, in Eagle Mountain Mining Ltd, a copper and gold explorer. Forms part of Eagle Mountain's AUD3.0 million wider fundraising. The funds will finance a surface diamond drilling programme at its Oracle Ridge copper mine project.

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Dekel Agri-Vision PLC - West African focused agriculture company - Reports milling equipment for a cashew processing plant it is developing in Cote d'Ivoire has arrived at port of Abidjan from Italy as planned.

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Altus Strategies PLC - mining royalty firm - Reports preliminary economic assessment at Diba gold project, Mali. Reports a pretax net present value of USD115 million and a post-tax net present value of USD81 million.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
10 Aug 2023 13:55

Dekel Agri-Vision July crude palm oil production skyrockets

(Alliance News) - Dekel Agri-Vision PLC on Thursday said that fresh fruit bunch volumes and crude palm oil production more than doubled in the month of July compared to a year ago.

Read more
12 Jul 2023 14:59

IN BRIEF: Dekel Agri-Vision notes strong interim crude palm oil output

Dekel Agri-Vision PLC - West Africa-focused agricultural company - Says it processed 114,745 tonnes of fresh fruit bunch in the first half of 2023, up 52% from 75,448 tonnes the prior year. Adds that its crude palm oil output in the last six months grew by 49% to 25,166 tonnes from 16,893 tonnes the year before. Notes the average price for CPO is EUR934 per tonne, a decrease from EUR1,013 in the first half of 2021. Palm kernel oil output grew by 24% to 1,442 tonnes from 1,162 the year prior, while sales fell to 515 tonnes from 1,180 tonnes. Adds that the average PKO price per tonne fell to EUR947 from EUR1,454. Says it was necessary to slow down its gradual increase in daily cashew output to deal with "teething issues" related to the addition of 10 new shelling machines. Raw material and sales prices are operating in line with expectations.

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28 Jun 2023 14:54

EARNINGS UPDATES: Dekel Agri-Vision swings to loss as revenue down

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

Read more
23 Jun 2023 14:38

Dekel modifies terms of existing loan agreement

(Sharecast News) - West Africa-focussed agriculture company Dekel Agri-Vision announced a modification to its existing loan facility on Friday, in agreement with AgDevCo, a prominent impact investor in the African agriculture sector.

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23 Jun 2023 13:38

IN BRIEF: Dekel Agri-Vision agrees on interest rate for loan facility

Dekel Agri-Vision - West Africa agricultural company - Secures fixed interest rate for euro-dominated loan at 7%. This related to a loan repayment of EUR3.6 million made to shareholder AgDevCo Ltd in August last year. Says loan facility's rate was once variable and would have hit 9% cap otherwise. Says principal repayments will be made pro-rata from August 2024 to August 2027.

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12 Jun 2023 12:16

Dekel Ivory Coast palm oil output up year-on-year in May, down monthly

(Alliance News) - Dekel Agri-Vision PLC on Monday reported an annual increase in its production of crude palm oil and palm kernel oil at its Ayenouan palm oil project in Ivory Coast in May.

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10 May 2023 14:25

Dekel achieves "standout" April for Ivory Coast crude palm oil sales

(Alliance News) - Dekel Agri-Vision PLC on Wednesday said crude palm oil sales and output significantly increased in April at its Ayenouan project in Ivory Coast, labelling its financial performance "a standout".

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10 May 2023 12:58

Dekel reports 'standout' month for palm oil operation

(Sharecast News) - West Africa-focussed agriculture company Dekel Agri-Vision reported a significant increase in April production at the Ayenouan palm oil project in Côte d'Ivoire on Wednesday.

Read more
20 Apr 2023 14:59

IN BRIEF: Dekel Agri-Vision cashew output grows in Ivory Coast

Dekel Agri-Vision PLC - West Africa agricultural company - Says Tiebissou cashew processing plant in Ivory Coast produced 533 tonnes of raw cashew nut during first quarter of 2023, and notes increasing daily production during the period. 10 tonnes of RCN were processed per day in the first three months of the year, and is expected to continue rising to between 20 and 25 tonnes a day.

Read more
20 Apr 2023 11:03

AIM WINNERS & LOSERS: Trakm8 seals deal; Dekel cashes in on cashews

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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11 Apr 2023 14:40

TRADING UPDATES: Dekel Agri-Vision hails crude palm output jump

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

Read more
11 Apr 2023 12:09

Dekel reports strong month at palm oil project

(Sharecast News) - Dekel Agri-Vision reported a significant increase in monthly production at the Ayenouan palm oil project in Côte d'Ivoire on Tuesday.

Read more
13 Mar 2023 21:02

TRADING UPDATES: DX opens new depots; Tern hails new order for Wyld

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

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14 Feb 2023 15:47

Dekel Agri-Vision sees record month for palm oil extraction and prices

(Alliance News) - Dekel Agri-Vision PLC on Tuesday said January was a record month for crude palm oil extraction and prices at its Ayenouan palm oil project in the Ivory Coast.

Read more
24 Jan 2023 10:10

Dekel Agri-Vision starts cashew production on interest acquisition

(Alliance News) - Dekel Agri-Vision PLC on Tuesday said that it plans to start full commercial production of the Cashew Operation this year, after acquiring the remaining interest in the Ivory Coast project.

Read more

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