(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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AfriTin Mining Ltd - tin miner with asset in Namibia - For the financial year ended February 29, tin concentrate production totalled 473 tonnes. For the fourth quarter, output reaches 194.5 tonnes, up 28% from the third quarter's figure of 151.4 tonnes, and also beating the 180 tonnes production target. "After reaching nameplate capacity in November 2020, the team at AfriTin continues to optimise and develop our flagship asset, the Uis Tin Mine. We are delighted to release our first quarterly production update and demonstrate that the company is operating 108% beyond our production targets for Stage I," says Chief Executive Officer Anthony Viljoen.
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ECO Animal Health Group PLC - livestock pharmaceutical products firm - For the year ending March 31, expects earnings before interest, tax, depreciation and amortisation and revenue to be significantly head of market expectations and prior year levels, which were at GBP8.4 million and GBP72.1 million, respectively. This is due to continued strength in the Chinese and US markets.
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Circle Property PLC - UK-focused regional office assets investor, developer and manager - Rent collection for quarter ended December 31 stands at 92%, while collection for the current quarter is at 84%. To date, net income stands at GBP7.9 million per annum, over GBP1 million higher than at the start of the current financial year. Also agrees to sell Power House in Milton Keynes, to Stephen Eagell Group for GBP3.6 million.
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James Cropper PLC - paper products manufacturer based in Cumbria - For the financial year ending March 27, expects profit to reach GBP3.5 million of sales of around GBP77 million, reflecting an improvement from prior market expectations. Trading since the first half of the year has improved, with the Paper division's second half revenue expected to be down 20% from the year before. Annual Colourform revenue set to be higher, despite a pandemic-related downturn within the beauty and spirit sectors.
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McKay Securities PLC - UK REIT - Rent collection for the financial year to date at March 5 increases to 93% of all contracted rent, is expected to reach 96% on receipt of all outstanding payments. During period, eights new lettings completed, delivering rent of GBP432,900 per annum, and six lease renewals completed, securing a 9.5% rise in contracted rent before renewal at GBP2.0 million per annum. Adds it has launched a GBP10 million share buyback.
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DWF Group PLC - Manchester-based law firm - Intends to rationalise its Legal Advisory operations in Australia by closing its offices in Melbourne, Sydney and Newcastle, but retaining the Brisbane office, and the Connected Services operations in Sydney and Melbourne. Will lead to the loss of 85 employees and 14 principal lawyers. For the 2021 financial year, expects a loss of GBP3 million to GBP4 million from Australian operations.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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