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Pin to quick picksDuke Capital Share News (DUKE)

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TRADING UPDATES: Chapel Down sales pop; Serabi output rises

Thu, 20th Jul 2023 20:06

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


Chapel Down Group PLC - Tenterden, Kent-based sparkling wine maker - Net sales in first-half ended June 30 surge 21% to GBP8.4 million, from GBP6.9 million a year prior. Chapel Down adds: "Total wine volumes increased 6% to 732,000 with traditional method sparkling volumes up 32% to 428,000, reflecting the continued successful delivery of our premiumisation strategy." As well as volumes rising, prices increase 16%. Off-trade sales alone are up 25%. Off-trade refers to channels such as supermarkets and online stores, contrasting with on-trade, which includes bars and nightclubs. Chapel Down adds: "The group continues to trade strongly, and the board remains confident of a continuing strong performance in H2."


Serabi Gold PLC - Brazil-focused gold mining and development company - Second quarter gold production totals 8,518 ounces, up 6.4% from first-quarter and rising 1.2% on-year. CEO Mike Hodgson says: "An excellent second quarter to follow the first quarter production of 8,005 ounces, keeps the company on course to meet its guidance for this year of between 33,500 to 35,000 ounces. The quarter saw improved grades coming from Palito, along with continued high grade development ore from Coringa."


Beowulf Mining PLC - Sweden, Finland and Kosovo-focused mining company - Finnish unit Grafintec Oy completes first-stage of process design for a graphite anode materials plant at GigaVaasa, Finland. Process forms part of wider pre-feasibility study. Study confirms post-tax net present value, using a discount rate of 8%, of USD242 million. Study suggests plant capacity of 20,000 tonnes per year and an "initial operating period of 10 years with the potential to be longer". Annual earnings before interest, tax, depreciation and amortisation of USD79 million expected. "The study confirms that the GAMP is technically and financially feasible and supports the progress of the project to the next stage of development, including coating testwork at laboratory and pilot plant scale in combination with optimisation of the process design. Further studies also include, but are not limited to, equipment selection, continued discussions and cooperation with technology partners, raw-material sourcing, engagement and pre-qualification testing with battery cell manufacturers," Beowulf adds.


Xtract Resources PLC - Australia and Africa-focused resource, development and mining company - Completes metallurgical test work at Bushranger copper and gold project in Australia. Results suggest "significant upgrades to copper mineralisation in the pre-concentrated product" can be achieved, Executive Chair Colin Bird says.


Jadestone Energy PLC - oil and gas production company focused on Asia-Pacific region - Leaves production, underlying costs and capital expenditure guidance unchanged. Says output in first-half falls 18% to around 12,300 barrels of oil equivalent per day, from 15,008 a year prior. Fall reflects shut-in of Montara until late-March. Half-year revenue declines 62% to USD86.7 million from USD225.6 million. Average realised oil price falls to USD86.2 a barrel, from USD109.5. Continues to expect annual underlying operating costs between USD180 million to USD210 million. Expects output between 13,500-17,000 boe per day, April to December inclusive. Still expects capex of USD110 million to USD140 million.


Verici Dx PLC - Cardiff, Wales-based developer of clinical diagnostics for organ transplants - Gets compliance authorisation for operation of commercial clinical laboratory testing from an additional four US states, including all-important California. Now fully accredited in a total of 49 states. Verici adds: "Together with the CLIA certification previously obtained from the Centers for Medicare & Medicaid, clinicians at transplant medical centres in these additional states are now enabled to order Verici Dx's transplant tests, expanding the company's commercial reach. California has consistently accounted for over 10% of the national US volume of kidney transplant procedures in each year since 1998 and has conducted the highest volume of transplants by any state each year over the same period."


Acuity RM Group PLC - provider of risk management services said the customer - Wins three year contract worth GBP388,000, with an option to extend for a fourth year for a further GBP125,000. Deal is for use of Acuity's cyber threat-managing software platform, Stream. User is in "an organisation within the British government", Acuity adds.


KRM22 PLC - London-based technology and software investment company - Hails "good progress" in six months ended June 30. Says annual recurring revenue tops GBP5.0 million for first time since float in 2018, rising from GBP4.1 million in the first half of 2022. Total revenue for the half-year increases roughly 25% to GBP2.4 million from GBP1.9 million.


Pittards PLC - Yeovil, Somerset-based leather goods producer - Concludes talks with a trade investor who will invest GBP1 million through issue of 25.0 million new shares at four pence each. The investment is yet to be finalised, and Pittards says that the investor will up to a further GBP124,000 by way of zero coupon unsecured convertible loan notes, should they be unable to make the GBP1 million backing. The backing is subject to Pittards raising GBP1.2 million of additional capital, entering new bank facilities and passing fundraising resolutions at a general meeting. If it does not raise the capital, it will be unable to continue trading and will likely enter administration, it warns.


Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Announces GBP2.8 million follow-on investment into existing royalty partner InTec Business Solutions Ltd. Will fund InTec's latest acquisition and settlement deferred consideration of a previous buy. "The financing increases Duke's total investment into InTec to GBP23.9 million. The investment terms will remain in line with Duke's previous follow-on investment into InTec, including the normal 6% annual adjustment factor," the firm says. InTec is buying managed IT services provider Sweethaven Computers Ltd.


Oberon Investments Group PLC - investment management, wealth planning and corporate broking group - Strikes deal to acquire Nexus Investment Management Ltd, from current owner Nexus Central Management Services Ltd. The acquisition target is manager of the Nexus Investments Evergreen EIS Scale-Up Fund. Oberon will fund the deal through the issue of 7.5 million shares, worth a total GBP292,500 at current market price. Shares in Aquis-listed Oberon closed at 3.90 pence each on Thursday. "The acquisition will contribute a profit before tax after management expenses and admin expenses and Oberon is focused on providing a seamless transfer of investment management services to investors in the Nexus EIS Fund," Oberon Investments says. "The Nexus EIS Fund has a 15-company strong portfolio across Digital, Data, EdTech and Health which strengthens Oberon's offering to investors who wish to benefit from Enterprise Investment Scheme tax relief and companies seeking EIS investment."


Litigation Capital Management Ltd - asset manager specialising in dispute financing solutions - Reports "positive development" on investment in Fund I portfolio. Says funded party awarded USD76.7 million settlement. Claim relates to "breach of a bilateral investment treaty and brought under the International Centre For Settlement Of Investment Disputes Convention". LCM adds: "LCM's funded party has succeeded in the claim. If the award is not subject to challenge and is not satisfied the dispute will move to an enforcement stage. We will assess any further funding requirements once the enforcement strategy has been finalised." LCM has invested USD4 million in this dispute to date. Company adds: "LCM's returns are calculated as a rising multiple of invested capital over time. As such we cannot calculate our overall return on this investment until it concludes. The investment however is no longer attended with liability and quantum risk as that has been decided. Final performance will be announced to the market after conclusion of the investment."


GCP Asset Backed Income Fund Ltd - London-based UK asset backed loan investor - Net asset value per share at end of June amounts to 93.96 pence, down 1.2% from end of March. GCP puts this down to "increase in discount rates in response to the prevailing interest rate and credit spread environment". Company adds: "The board and investment manager remain focused on addressing the discount to NAV at which the company's shares trade. Since the start of 2023, the company has purchased 8.525 million of its own shares and over 16 million since the commencement of the buyback strategy, to help support the share price, providing liquidity for those looking to dispose of shares, along with NAV accretion for remaining holders." Says further new investment is secondary to repaying revolving credit facility, trimming debt and buying back stock.


By Eric Cunha, Alliance News news editor

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21 Feb 2024 17:00

IN BRIEF: Duke Capital name change confirmed, to take effect on AIM

Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Says name to Duke Capital Ltd from Duke Royalty Ltd has been confirmed by the UK Registrar of Companies, and will take effect for shares trading on AIM from Thursday. On Tuesday, the name change was passed by shareholders at an extraordinary general meeting.

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20 Feb 2024 13:18

IN BRIEF: Duke Royalty confirms name change to Duke Capital

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Confirms that name change to Duke Capital Ltd was passed by shareholders at extraoridnary general meeting, held Tuesday.

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13 Feb 2024 14:34

UK shareholder meetings calendar - next 7 days

Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
Thursday 15 February 
JPMorgan Asia Growth & Income PLCAGM
Synergia Energy LtdGM re share placing
VVV Resources LtdAGM
Friday 16 February 
Irish Residential Properties REIT PLCEGM re removal of 5 of 9 directors
Location Sciences Group PLCGM concerning reverse takeover agreement
Red Rock Resources PLCAGM
UK Oil & Gas PLCGM re proposed capital reorganisation
Monday 19 February 
Cloudbreak Discovery PLCGM
East Imperial PLCGM re capital reorganisation
Oxford Cannabinoid Technologies Holdings PLCGM re convertible loan note agreement with Cantheon
Residential Secure Income PLCAGM
Tuesday 20 February 
abrdn Equity Income Trust PLCAGM
Carr's Group PLCAGM
Dewhurst Group PLCAGM
Duke Royalty LtdEGM re changing name to Duke Capital
Comments and questions to
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Dec 2023 12:45

London close: Stocks mixed after short New Year session

(Sharecast News) - London markets had a mixed performance in a shortened pre-holiday trading session on Friday.

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29 Dec 2023 11:39

IN BRIEF: Duke Royalty expects higher quarterly recurring cash revenue

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Expects recurring cash revenue of GBP6.3 million in its third quarter for the year ending March 31, which would be a 12% increase from GBP5.6 million a year before. It would also be a notch up from GBP6.2 million in its second quarter. "We are pleased to report that despite the ongoing macroeconomic uncertainties, we continue to deliver revenue growth, with [the third quarter of financial 2024] on course to maintain this upward trend, underpinning our stable dividend which at the current share price, represents an approximate 9% yield," says Chief Executive Officer Neil Johnson.

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29 Dec 2023 10:03

Duke Royalty posts strong quarter, makes follow-on investment

(Sharecast News) - Duke Royalty reported a strong set of third-quarter results on Friday, as well as a follow-on investment in its existing royalty partner, Creō-Tech Industrial Group.

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29 Dec 2023 07:59

London open: Gains modest but stocks rise to seven-month high

(Sharecast News) - UK stocks edged higher to a seven-month high on Friday morning, though gains were likely to be limited in a shortened trading session ahead of the New Year's break.

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29 Dec 2023 07:47

LONDON BRIEFING: FTSE 100 to edge higher, rounding off lacklustre year

(Alliance News) - Stocks in London are expected to edge higher on Friday, as investors reflect on an eventful year and look ahead to what's in store for 2024.

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29 Dec 2023 07:35

London pre-open: Small gains expected in shortened trading session

(Sharecast News) - London stocks were expected to rise slightly on Friday morning, though movements continue to be limited as volumes remain low in festive trading.

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23 Nov 2023 08:48

CORRECT: Duke Royalty half-year total income falls 34%; payout steady

(Correcting total income figures.)

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22 Nov 2023 14:15

EARNINGS AND TRADING: Victorian Plumbing profit up; Duke revenue dips

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

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13 Sep 2023 14:39

IN BRIEF: Duke Royalty recurring cash revenue up 17% in first quarter

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Recurring cash revenue is GBP6.0 million in the three months to June 30, Duke's financial first quarter, up 17% from GBP5.1 million a year before. Expects recurring cash revenue in the second quarter of financial 2024 of GBP6.2 million. Looking ahead, Duke says it remains confident that the consistent quarterly growth in recurring revenue will continue.

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13 Sep 2023 13:31

Duke Royalty reports strong start to new financial year

(Sharecast News) - Alternative capital specialist Duke Royalty reported a new record of £6m in recurring cash revenue for the first quarter on Wednesday, making for an increase of 17% over the first three months of the prior year, and a £0.3m increase on the previous quarter.

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31 Jul 2023 17:31

TRADING UPDATES: MGC Pharmaceuticals granted psilocybin import permit

(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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