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Pin to quick picksDuke Capital Share News (DUKE)

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TRADING UPDATES: Tandem's sales pick up; Duke enters record deal

Wed, 08th Dec 2021 14:54

(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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Tandem Group PLC - sports equipment distributor based in West Midlands - In third quarter ended September 30 grows revenue 17% ahead of the prior year. Notes the three months to November 30, its fourth quarter, sees revenue broadly flat across the group when compared to the first two months of the fourth quarter of financial 2020, principally as a result of the comparative period in 2020 being particularly strong. Increases in input costs, shipping and transport rates and adverse currency movements have placed pressure on gross profit margins in 2021 year to date, Tandem states. However margins have "held up well and we are beginning to see some early indications of improvements in costs, particularly with regards to freight", company explains. Tandem expects profitability for the full year to be in line with or slightly ahead of current market expectations.

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Duke Royalty Ltd - royalty finance company - Enters into what it claims is its largest royalty agreement to date, a USD21.0 million royalty financing agreement with Atlas Signs. Atlas describes itself as a US-based, turnkey national brand implementation company. The deal expands upon Duke's North American presence, it says.

Duke Chief Executive Neil Johnson comments: "This partnership is the largest investment in our history and further diversifies our revenue base. We believe Atlas is a good example of a company that is seeking long-term capital to replace conventional private credit. We believe the pandemic has opened the opportunity for Duke to appeal to a broader number and larger companies."

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Red Rock Resources PLC - gold explorer in Australia, Kenya and Ivory Coast - Awarded new exploration licence in Victoria, Australia. Separately, Red Rock exchanges shares in joint venture subsidiary Red Rock Australasia Pty for just over 50.1% of newly formed New Ballarat Gold Corp, a UK company which will be the vehicle for a possible listing in London. News is also noted by mining exploration company Power Metal Resources PLC, which now holds 49.9% of New Ballarat Gold Corp. Red Rock says soil sampling at Ballarat Mine "confirmed the importance of arsenic anomalism as a pathfinder for gold and gold-bearing structures" in the region.

"The new structure will enable the project to advance more quickly, access outside capital more easily, including through a planned separate listing, and act more independently. We have confidence in the professional team now in place out in Ballarat, who continue to do excellent work on the ground," comments Red Rock Chair Andrew Bell.

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Pebble Group PLC - Manchester-based technology and services for promotional products industry - Expects full year results to be at least in line with market forecasts. Both the group's businesses, Facilisgroup and Brand Addition, continue to trade well in the second half of 2021, Pebble states. Brand Addition's expected revenue is around GBP100 million, substantially up from GBP72.6 million year before, representing an "immediate and full recovery from the demand challenges of 2020".

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HydrogenOne Capital Growth PLC - hydrogen investment fund managed by HydrogenOne Capital LLP - Invests GBP9.1 million in NanoSUN, a supplier of mobile hydrogen storage and refuelling systems. The investment forms part of a GBP12 million fundraising round, introducing other new investors including German energy company Westfalen.

HydrogenOne Chair Simon Hogan says: "We are pleased to announce the purchase of this stake in NanoSUN, which supports our strategy of investing in companies central to the growth of clean hydrogen production. NanoSUN's refuelling equipment is set to be integral in the downstream hydrogen sector, and HydrogenOne believes that NanoSUN will be a leader in this field."

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Bango PLC - Cambridge-based mobile commerce company - Partners with South Korean lifestyle financial platform Kakao Pay. Claims merchants can now reach tens of millions of users in South Korea to collect online payments and offer product bundles through the Bango Platform. Partnership sees users able to spend with their Kakao Pay e-wallet on content and services offered by Bango global merchants.

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Applied Graphene Materials PLC - graphene materials maker with headquarters in Redcar, Cleveland - Awarded patent for the use of Graphene Nanoplatelets in water-based anti-corrosion protective coatings applications.

"The global cost of corrosion is substantial and there is significant and growing pressure within the international coatings industry to reduce and ultimately remove the dependence on harmful volatile organic compounds. Overcoming the challenge of dispersing graphene nanoplatelets into such coatings has been a significant area of development for AGM's technical team, and I am pleased that this technology has resulted in patent coverage," says Chief Executive Adrian Potts.

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By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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