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Pin to quick picksDuke Capital Share News (DUKE)

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TRADING UPDATES: Mirriad Advertising and EnSilica win deals

Mon, 04th Mar 2024 13:19

(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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EnSilica PLC - Oxfordshire, England-based semiconductor designer - Signs contract worth EUR3.8 million with "a prominent European automotive and industrial semiconductor supplier". It adds: "The contract encompasses a comprehensive suite of services, including engineering consultancy and the licensing of EnSilica's intellectual property for incorporation into a new chip design. Specifically, the project includes the development of a chip incorporating Arm-based IP to be used for high-integrity automotive and industrial applications."

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Mirriad Advertising PLC - London-based provider of in-content advertising technology - Enters a two-year agreement with an unnamed "leading US media and entertainment conglomerate, renowned for its diverse portfolio of movie studios and productions, television channels and streaming platforms." It says the agreement will enable the partner to employ its platform to identify virtual product placement opportunities and introduce in-content advertising into its content. Mirriad adds: "The new partner has 95 million direct-to-consumer video streaming subscribers alone, and a further 20+ networks in the US which average more than 100 million total viewers each week. It is also home to the majority of the top ten rated TV networks. New high value inventory can now be made available for campaign deployment to the many large ad spenders Mirriad is already working with."

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TT Electronics PLC - electronic components maker - Sells three business units within the GMS and Power and Connectivity divisions to the Cicor Group for GBP20.8 million in total. "The divestment relates to business units in Hartlepool and Cardiff, UK and Dongguan, China which provide electronics manufacturing services and certain connectivity products, principally to industrial clients," the company says. Proceeds from disposal will go towards reducing existing debt. Expects operating margin enhancement of around 50-70 basis points. TT adds: "The divestment reflects the board's continued efforts to improve the quality of earnings, strengthens the balance sheet and will allow the group to focus on growth opportunities in its core businesses and end markets to deliver value for all stakeholders."

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Vertu Motors PLC - Gateshead, England-based car dealership chain - Says in five months to January 31, trades in line with expectations. Vertu's financial year ended on February 29. "UK used vehicle values have stabilised in recent weeks following post-October wholesale pricing correction," it says. Adds that it "successfully increased used vehicle stock-turn and significantly reduced inventory levels to adjust to the changing market dynamics". It expects annual adjusted pretax profit to be broadly in-line with current consensus. Over the five-month period, like-for-like revenue rose 7.8%.

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RegTech Open Project PLC - London-based technology business focused on automation and optimisation of regulatory compliance operations - Reports "encouraging start to the year 2024". Notes confirmed bookings of GBP400,000. It adds: "Year-to-date operational resilience software renewals bookings show a 10% increase in like-for-like renewal revenues and in excess of 90% customer retention." RegTech notes in 2023, it retained "over 100% of subscription revenues from existing customers". It adds: "With a focus on subscription (recurring revenue) business, RTOP achieved a 17% year-on-year increase in subscription billings. The mix of recurring and non-recurring revenues within the total revenues rose from 32% recurring revenues in the prior year to 58% in 2023, a positive move towards achieving the target of 80% by 2025." It also announced a strategy update as it eyes earnings growth in the five years ahead. RegTech is looking to "convert legacy product clients to subscription-based products". It also sees "significant" sales opportunities amid the EU's Digital Operational Resiliency Act, where firms have a January 2025 deadline to meet obligations related to the measure. It is also looking to "monetise non-core assets" and "launch an additional scalable business line in InsurTech aimed at corporate customers".

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Mycelx Technologies Corp - Georgia, US-based clean water and air technology - Says all conditions of the sale of Saudi Arabia Business to Twarid Water Treatment LLC, part of Magellan SPV Water Holdings Ltd, have been satisfied. "Proceeds from the sale will strengthen the company's balance sheet and provide the runway it needs to accelerate growth in its core markets while continuing its sales of Mycelx media products through the distributorship in Saudi Arabia," Mycelx says. The unit was sold for up to USD7.1 million, with USD3.1 million at closing and up to USD4 million on an earn-out structure.

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Sylvania Platinum Ltd - platinum group metals producer and developer with assets in South Africa - Plans to buyback shares worth up to USD3 million. "The purpose of the share buyback is to reduce the share capital of the company," Sylvania says.

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Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Ups stake in United Glass Group to just under 74% from 30%, through a GBP2.9 million secondary share purchase from existing shareholders. Duke Capital says: "This investment aligns with Duke's vision to deepen its engagement with its high-performing portfolio companies. By increasing its equity position, Duke reaffirms its confidence in UGG's potential for sustained success and reinforces its commitment to the company's growth trajectory." Duke Capital notes UGG is a "progressive and service-orientated" group of architectural glass processing companies.

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Bradda Head Lithium Ltd - US-focused lithium exploration company - Reports mobilisation of equipment to the Basin project in Arizona, with an aim to "initiate resource expansion drilling". It plans a six-hole core drilling programme of approximately 8,800 feet.

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Doric Nimrod Air Three Ltd - investment firm that acquires, lease and then sells aircraft - Receives notice from subsidiary DNA Alpha Ltd that Emirates is exercising the option to enable it to redeliver the Airbus A380-861 aircraft with the manufacturer's serial number 136 in the minimum condition equivalent to "half-life" together with a cash sum. In aviation finance, a half-life is when a craft is between two major maintenance events in its cycle. If the aircraft is returned to DNA Alpha, Emirates will pay a sum of USD12.0 million to DNA Alpha, plus "normal" monetary compensation.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

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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20 Jul 2023 20:06

TRADING UPDATES: Chapel Down sales pop; Serabi output rises

(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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4 Jul 2023 13:50

IN BRIEF: Duke Royalty annual total income rises but profit falls

Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Posts total income of GBP31.0 million for year ended on March 31, up from GBP28.8 million the year before. Pretax profit is down to GBP19.6 million from GBP20.4 million, as total operating costs rise to GBP4.3 million from GBP3.6 million the year before. Finance costs balloon to GBP5.6 million from GBP2.0 million. Recurring cash revenue increases by 46% to GBP21.9 million from GBP14.9 million. Looking ahead, expects to see higher deployment rate in financial 2024 than in financial 2023. Adds that it remains cautiously optimistic about the future.

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3 Jul 2023 17:31

TRADING UPDATES: Mycelx wins deal; 88 Energy buys in Texas

(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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3 Jul 2023 16:28

Duke Royalty puts another £1.9m into New Path

(Sharecast News) - Alternative capital specialist Duke Royalty announced a follow-on investment of £1.9m into its existing royalty partner New Path Fire and Security on Monday.

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