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Pin to quick picksEnwell Energy Share News (ENW)

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CORRECT: Kier swings to profit, Sound Energy loss widens

Thu, 16th Sep 2021 14:36

(Correcting that the updates were issued on Thursday)

(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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Kier Group PLC - Sandy, Bedfordshire-based construction and infrastructure services - Revenue in the year ended June 30 falls 4.7% from the previous year, to GBP3.26 billion from GBP3.42 billion. Swings to pretax profit of GBP5.6 million from a loss of GBP225.3 million. Revenue fell because the company exited non-core, low-margin and loss-making contracts. Order book of GBP7.7 billion covers 83% of expected revenue in the 2022 financial year. New medium-term plan targets revenue between GBP4.0 billion and GBP4.5 billion, and an adjusted operating profit margin of 3.5%. Current trading is in line with expectations and guidance for financial 2022 remains unchanged, "notwithstanding potential inflationary pressures and the impact of increased national insurance contributions."

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Sound Energy PLC - oil and gas explorer in Italy and Morocco - Pretax loss in first half of 2021 widens to GBP5.8 million from GBP380,000. Continues "strategy of progressing towards becoming a revenue generating company," having achieved "key milestones" including buying an asset in eastern Morocco and signing a liquefied natural gas sales agreement with Afriquia Gaz in the second half to date. "With important catalysts to come in the near term, I look forward to updating shareholders further," Executive Chair Graham Lyon says.

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Foresight Solar Fund Ltd - investor in solar panels and batteries - Net asset value per share rises to 98.0 pence on June 30, from 95.8p on December 31, thanks to "a strong recovery in power prices forecasts in the short and medium term." Swings to pretax profit of GBP34.2 million from a loss of GBP26.7 million. Declares 1.745p per share second interim dividend. Company "continues to review an attractive pipeline of solar and battery assets."

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Circassia Group PLC - Oxford-based asthma diagnosis and management devices - Revenue in the first half of 2021 increases 28% year-on-year to GBP14.6 million from GBP11.4 million. Pretax loss narrows to GBP2.0 million from GBP9.4 million. Trading in July and August has been slightly above breakeven in terms of earnings before interest, tax, depreciation and amortisation. Financial 2022 Ebitda will be materially ahead of current market expectations because of the company's lower cost base.

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Artisanal Spirits PLC - Edinburgh-based whisky subscriptions - Revenue in the first half of 2021 increases 20% year-on-year to GBP7.9 million from GBP6.6 million, "slightly ahead of management's expectations." Pretax loss widens to GBP941,000 from GBP674,000. Expects to meet market consensus for the full-year given growing demand from international markets and a continued recovery in UK venues and events.

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Symphony Environmental Technologies PLC - Borehamwood, Hertfordshire-based plastics and rubber - Revenue in the first half of 2021 increases 2.6% to GBP4.9 million from GBP4.8 million. Swings to pretax loss of GBP632,000 from a profit of GBP18,000. Distribution costs were higher because of shipping container shortages, which are expected to continue for the rest of the year. Commercialisation of product lines, and substantial sales growth, is now expected in the "very near term".

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Enwell Energy PLC - oil and gas producer in Ukraine - Revenue in the first half of 2021 rises 66% year-on-year to USD41.1 million from USD24.7 million. Pretax profit multiplies to USD17.9 million from USD2.6 million. Production increases 8.2% to 4,917 barrels of oil equivalent per day from 4,545 boepd. In the rest of the year, Enwell will continue to develop its three producing fields and move forward with appraisal and development of the SC licence. "2021 has been an excellent operational year so far, with strong production from the MEX-GOL, SV and VAS fields, coupled with the significant recovery in gas prices, contributing to our much improved profitability in the period," Chief Executive Sergii Glazunov says.

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Duke Royalty Ltd - investor in royalties - Cash revenue increases 7.8% to GBP11.0 million in the financial year ended March 31, from GBP10.2 million the prior year. Swings to pretax profit of GBP16.1 million from a loss of GBP10.4 million, driven by the fair value of the portfolio rebounding as the economy stabilised. Declares 0.55p-per-share dividend for the second quarter of financial 2022.

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By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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19 Apr 2024 12:34

Enwell Energy says quarterly production hurt by war in Ukraine

(Alliance News) - Enwell Energy PLC on Friday reported a drop in its quarterly output as conflict in Ukraine persists, and said its current finance chief will step in as interim chief executive officer.

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IN BRIEF: Enwell Energy says Ukraine CFO Oleksiy Zayets is interim CEO

Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Says that Chris Hopkinson has stepped down as non-executive chair with immediate effect, while Sergei Glazunov has stepped down as chief executive officer and as director of the company. Enwell didn't provide an explanation as to why. Also with immediate effect, Charles Valceschini has been appointed as non-executive chair and Igor Basai has been appointed as a non-executive director.

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IN BRIEF: Enwell Energy gas and condensate production drops in 2023

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29 Dec 2023 09:54

Enwell Energy interim profit and revenue drop due to lower gas prices

(Alliance News) - Enwell Energy PLC on Friday said half-year profit and revenue plunged due to challenges arising from the war in Ukraine, but its shares were restored to trading on AIM after publishing its 2022 annual results last week.

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(Alliance News) - Enwell Energy PLC on Thursday said its profit and revenue rose in 2022, but that geopolitical factors make future planning "extremely difficult".

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Enwell Energy average gas, condensate and aggregate production falls

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IN BRIEF: Enwell Energy has two licences suspended in Ukraine

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IN BRIEF: Enwell Energy production down due to natural field decline

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Enwell Energy field licence ruled valid by Supreme Court of Ukraine

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