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(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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Beximco Pharmaceuticals Ltd - Bangladesh-based pharmaceutical company - Posts pretax profit in first quarter ended September 30 of BDT1.91 billion, or around USD21.9 million, up 31% from BDT1.46 billion a year before. Quarterly revenue increases 22% year-on-year to BDT8.47 billion from BDT6.93 billion. "The momentum evident from our strong performance in the last financial year has continued into the first quarter," comments Managing Director Nazmul Hassan. "As operational challenges caused by the Covid-19 pandemic begin to ease, we believe we are well-positioned as we execute against our strategy, continuing to focus on expanding our portfolio, growing domestically and expanding in our international markets."
On Tuesday, Beximco announced it would begin selling the world's first generic version of Merck's coronavirus pill, molnupiravir. The drug is the first anti-viral pill for Covid-19 that can be taken at home.
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PPHE Hotel Group Ltd - Amsterdam-based hotel owner and operator - Buys Londra & Cargill Hotel in Rome for EUR34.5 million. The acquisition marks the group's entry into the Italian market, PPHE states. "Rome is a strategic target for the group as it is one of southern Europe's key gateway capital cities that offers robust fundamentals for hotel investment over the medium to long term," PPHE says. "We are thrilled to acquire this hotel in the centre of Rome...our plans to reposition the property to an upper upscale lifestyle hotel will further bolster our development pipeline which already features iconic, premium projects across cities including Art'otel London Battersea Power Station and Art'otel London Hoxton," says President & Chief Executive Boris Ivesha.
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Tremor International Ltd - Tel Aviv-based video and connected TV advertising technology - Third quarter revenue rises 55% annually to USD87.0 million from USD56.1 million. Operating profit widens sharply to USD13.7 million from USD4.7 million. Reiterates confidence in the medium- to long-term prospects of the company with Tremor "well-placed to further benefit from the resurgence in the global digital advertising industry that is expected to continue". Expects adjusted earnings before interest, tax, depreciation and amortisation growth of more than double.
"I'm pleased to report another record quarter, the strongest in Tremor's history," says Chief Executive Ofer Druker. "Core to this performance is the strength of Tremor's end-to-end technology and business platform."
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Home REIT PLC - London-based real estate investment trust - Posts a maiden pretax profit of GBP20.9 million and total income of GBP11.8 million. Profit boosted by a GBP14.0 million gain in fair value of investment property. Net tangible assets per share on August 31 are 105 pence, up from 98p on October 2020 when it floated. Also buys 711 properties in year at an "attractive" average net initial property yield of 5.85%. Deploys a further GBP62.6 million of the proceeds raised in the company's oversubscribed GBP350 million equity issue in September. Since October 18, the company has acquired an additional 19 portfolios comprising 173 properties located across England for GBP62.6 million in total.
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Portmeirion Group PLC - homewares manufacturer based in Staffordshire, England - Notes strong sales of brands across all key markets since September, with a healthy order book for the remainder of the year. Upgrades full year sales outlook to at least GBP95 million, around 5% above current consensus market expectations. Says that challenges in global shipping and labour shortages will be "short-term in nature and, with the strong trading, will not impact current consensus market expectations of profit for the current period or, in the longer term, our margins and ability to grow as a business". Says it does not expect to be materially impacted by the latest rising energy prices.
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Maestrano Group PLC - London-based enterprise software company - Subsidiary Airsight Australia awarded new contract by Secure Energy. Airsight will provide a drone-based survey for the new 700km transmission line extending from Wagga Wagga in New South Wales to the South Australian border as part of the agreement. The contract will run to 2025 with initial pre-built ground surveys beginning in 2022, Maestrano explains.
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Harland & Wolff Group Holdings PLC - Belfast-based specialist in ship repair, conversion and offshore construction - Awarded contract worth in excess of GBP2 million by Herbosch-Kiere Marine Contractors for the fabrication of a steel pontoon. The contract works will involve the manufacture of the foundation, stairways and handrails for the RNLI lifeboat station based under Waterloo Bridge on the north bank of the Thames.
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GYG PLC - superyacht company based in Mallorca - Signs turnkey refit contract for superyacht atleast 100 metres long. The contract is valued in excess of EUR7 million, GYG states, with work scheduled to commence in January 2022, further improving the forward visibility of its order book. Chief Executive Remy Millott comments: "We are pleased to have signed another major turnkey refit contract for a 100 plus metre superyacht commencing early in 2022, further establishing the group's market share in Northern Europe and strengthening the order book. This project utilises a number of GYG's turnkey solutions and this was a significant deciding factor when the shipyard was awarding the contract."
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Arecor Therapeutics PLC - Cambridge-based biotechnology company - Granted a patent in Canada for its bio-therapeutics technology by the country's intellectual property office. The claim protects a "specific part of the technology used in the development of stable, low-viscosity formulations of highly concentrated protein therapeutics".
"The recently granted Canadian patent is an important milestone in our rapidly growing patent portfolio. We have been very successful in patenting unique combinations of excipients that improve considerably critical quality attributes of protein and peptide-based therapeutics, enabling their convenient delivery," says Chief Scientific Officer Jan Jezek.
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Saietta Group PLC - Bicester, England-based electric motor technology developer - Purchases e-Traction Europe for EUR2 million. e-Traction is a Netherlands-based manufacturer of electric powertrain systems for heavy commercial vehicles was bought from Evergrande New Energy Automotive. Saietta Chief Executive Wicher Kist comments: "This acquisition will allow Saietta to accelerate its business plan by several years adding not just commercial and technical capability but also extending our IP portfolio and acquiring an operational power electronics production facility."
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IQ-AI Ltd - Jersey-based medical services firm - Signs data use agreement with St Jude Children's Hospital in Memphis, US. The deal will provide the group with access to paediatric image data for use in the development of IQ-AI's artificial intelligence technology, IB Zero G. The company says through the agreement it will have access to a wide array of magnetic resonance datasets, needed for developing and refining AI models.
"This agreement will accelerate the development and commercialisation of IB Zero G," says Chief Executive. "Avoiding the use of GBCAs while preserving the diagnostic quality on paediatric images will help clinicians address concerns relating to GBCA retention and ultimately provide better care," he adds.
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Ten Lifestyle Group PLC - London-based concierge platform - Secures contract to deliver content services for an existing unnamed financial services firm. The addition of the revenue from the content service is expected to grow the existing small contract to a medium contract in the first half of this financial year, Ten Lifestyle clarifies. Expects to announce preliminary annual results on November 24.
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M Winkworth PLC - London-based residential real estate agencies franchiser - Expects full year revenue to exceed management forecasts. Highlights strong trading conditions since the upturn in the first half of the year, with London sales and rentals, which account for some 75% of revenue, being buoyant. Winkworth's new sales instructions and sales agreed in the third quarter are lower than those achieved in 2020, which saw a surge of interest post lockdown and the announcement in July 2020 of the stamp duty relief scheme, but higher than those achieved in 2019. Chief Executive Dominic Agace comments: "We expect business to remain brisk going into 2022, with rental prices rising due to migration back to London and international interest returning".
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Alien Metals Ltd - London-based exploration and development company - Recommences Phase 3 drilling programme at the company's Hancock iron ore project, part of its Hamersley iron ore project in Western Australia. hief Executive Bill Good announces: "Following on from our initial maiden JORC resource and positive scoping study work, we are delighted to be going back out into the field at Hancock to undertake this important infill drilling at the Western Ridges orebodies. Additionally, we will also undertake new exploration drilling to commence our expansion of the resource potential of the project."
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FRP Advisory Group PLC - London-based corporate finance, restructuring and debt adviser - Says strong performance delivered during first half. Now expects interim revenue of GBP44.7 million, up from GBP35.9 million the previous year. Says medium-term outlook for all markets is positive and company remains confident of making further progress in the current financial year. "We delivered another pleasing performance in the first half, continuing to execute our strategy to grow the business," says Chief Executive Geoff Rowley.
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Mosman Oil & Gas Ltd - New South Wales, Australia-based exploration, development and production company - Says Winters-2 well in Polk County, East Texas is perforated from 6,788 to 6,808 feet. Adds well currently shut-in to measure pressure build up. Awaits delivery of required equipment at Stanley-5 well in Polk County, expected next week, before being put on production.
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Live Co Group PLC - UK-based live events and entertainment company- Hails best quarter since outbreak of Covid-19, with its Bricklive business securing GBP1.7 million of contracted revenue for 2021, with two months of the year still to go, and GBP900,000 already contracted for 2022.
Chair David Ciclitira states: "We are encouraged with Q3 progress and growth after a difficult first half of the year with the global lock down. Diversification via our LCSE division as well as the investment into START.art and our focus on the US and Asian markets has meant we have come through this difficult period with additional opportunities and revenue streams."
In addition, company states it has acquired 271 shares in E Movement Pty Ltd, representing 20% stake. E Movement is South African based promoter of Cape Town E Prix, a round of the all-electric motorsport Formula E. Shares were purchased for GBP113,460 in cash by Ciclitira. "Accordingly, Mr Ciclitira is now selling them to the company for the same amount which is to be satisfied in cash in instalments with the final instalment paid within 12 months. No interest is payable on the outstanding amounts," Live Co adds.
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Audioboom Group PLC - London-based podcast platform - Launches SHOWCASE, a podcast advertising marketplace. Aims to make more than 250 million advertising impressions available to buyers each month. Chief Executive Stuart Last declares: "SHOWCASE is the next stage of our goal to simplify podcast advertising for creators and brands, while delivering the efficiency that advertisers require. I am confident that SHOWCASE will drive significant new revenue opportunities for the company."
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By Will Paige; willpaige@alliancenews.com
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