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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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City Pub Group PLC - London-based pub operator - Says revenue rises 38% to GBP35.4 million in 2021, from GBP25.8 million in Covid-disrupted 2020. October and November trading was restriction free, the operator of pubs in England and Wales says. City Pub adds, however: "December began well with greater pre-booked business than 2019, however the emergence and onset of Omicron reduced sales to 85% of 2019 during this important period as most office party bookings were cancelled. The strong trading in October and November helped to offset any reduction in December. Year end results are expected to be in line with management expectations. Company says energy costs to continue rising in short-term and will hurt margins. "Additionally, over the Christmas period, the group has faced staff shortages due to Omicron isolating. Our staff are a key ingredient of our success therefore for those staff who could not work because of isolation, their sick pay was topped up and 80% of their salaries paid, despite no government support in this area. This situation is now abating with staff availability improving," company adds.
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Revolution Bars Group PLC - Ashton-under-Lyne, England-based bar chain - Says sales in Christmas period hit by UK Plan B Covid measures, which included work from home guidance. Says like-for-like sales in six weeks to January 1 down 23% from pre-virus levels. "The impact of the government actions was most felt in the cancellation of office parties," Revolution Bars says. Pre-booked revenue, usually derived from office Christmas parties was down 39% over six week period versus pre-virus times. "However, the total number of bookings during the 6-week period was at 19% highlighting that our young guest base were still keen to go out and enjoy themselves. Both of these metrics were significantly higher earlier in December before the Omicron variant and negative government messaging took hold," company adds. Says confident of meeting full year expectations despite UK government's "overly cautious" response to Omicron which caused "substantial loss of trade during the important festive season".
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Artisanal Spirits Co PLC - Edinburgh, Scotland-based owner of the Scotch Malt Whisky Society - Expects 2021 revenue of GBP18 million, up from GBP15 million, "comfortably ahead of market expectations". Global membership grew 15%, company says. Notes "continued recovery" in UK venue & events sales with "robust2 fourth quarter showing despite Omicron. "UK venue sales in the second half surpassed those in the entirety of FY 2020," Artisanal says.
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N Brown Group PLC - Manchester-based digital-only retailer of clothing and footwear - Says group revenue in third quarter ended January 1, so including key festive period, down 3.3% annually to GBP267.6 million. "We entered the peak trading period well-prepared, with good product availability, and successfully managed the ongoing global supply chain challenges. Clothing & footwear continued its resurgence into Q3, with growth of 18%, including increased demand for dresses, formalwear and outerwear, demonstrating the appeal of our strengthened product offer. This was offset by a reduction in Home & Gift of 19% where we annualised against periods of high demand driven by lockdown in the prior year and saw a softer online home market than previously expected," N Brown says. For full-year, N Brown expects adjusted earnings before interest, tax, depreciation and amortisation between GBP93 million and GBP96 million, at lower end of previous guidance. This is due to online market conditions and higher project spend. "The board remains confident in achieving the group's medium-term objective of delivering sustainable profitable growth," company adds.
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Gear4Music PLC - York-based online musical instruments and equipment retailer - Says total sales fall 10% to GBP47.2 million in third quarter to December 31, from GBP52.2 a year prior. Up 17% from pre-virus times, however. Third quarter UK sales up 13%, though European & Rest of the World sales down 27%. Still expects annual Ebitda in line with market expectations of GBP12.0 million. Revenue consensus is GBP149.2 million.
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Silver Bullet Data Services Group PLC - London-based provider of digital transformation services and products - Wins several sub-contracts under partnership with Salesforce. Pacts to generate GBP425,00 during 2022. In addition, Silver Bullet Data wins three deals, one with an unnamed financial services company, another with a "global consumer-packaged goods" firm and another with Haier Europe, a household appliance manufacturer.
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Luceco PLC - London-based supplier & manufacturer of LED lighting products - Says revenue for 2021 in line with previous guidance at GBP228 million, would represent a 29% hike from GBP176.2 million in 2020. Expects GBP39 million adjusted operating profit, a 30% improvement from GBP30.0 million. Says like-for-like revenue in 2021 up 36% versus pre-Covid comparative. " All sales channels delivered significant growth in the final quarter of the year," Luceco said.
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Guild Esports PLC - London-based esports company - Signs 10-year property lease for creation of a global esports academy in Shoreditch, London. "The 9,831 square feet facility is located at the heart of the capital city's booming technology hub and will open in Q2 2022. It will provide a state-of-the-art physical space for the Guild Academy to complement and support the world's most comprehensive and innovative online training portal set up by Guild for budding esports stars and pro-players," Guild says.
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Toople PLC - Letchworth Garden City, England-based telecom services - Opens second contact centre in South Chesire, England. Facility is now operational and will supported by BT Group PLC. "It will be solely focused on new customer acquisitions for the SME segment within BT's Enterprise business and will be complementary to Toople's existing centre located in Durban, South Africa, which manages over 200,000 existing customers for Toople and its subsidiary company DMSL. The support received from BT for the new centre has minimised set up and operating costs, maximizing potential returns," Toople says.
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Netcall PLC - Bedford-based customer engagement software provider - Says performed "comfortably in line with management expectations" in first half. For six months ended December 31, Netcall expects revenue to rise 10% to GBP14.7 million from GBP13.4 million. Expects adjusted earnings before interest, tax, depreciation and amortisation to rise 17% to GBP3.4 million from GBP2.9 million.
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Kooth PLC - London-based digital mental health platform - Says revenue expected "to be in line with market expectations" in 2021, growing by over 25% from GBP13.0 million in 2020.
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PensionBee Group PLC - London-based pension management app - Says revenue in 2021 tops guidance and more than doubles to GBP13 million from GBP6 million. Assets under administration up 91% annually to GBP2.59 billion from GBP1.36 billion. Gross inflows amount to GBP1.10 billion, while outflows wer GBP145 million. PensionBee says registered customers rise 63% to 658,000, while active customers up 44% to 172,000. PensionBee adds it expects to transition to Premium Segment of London's Main Market from High Growth Segment in first half of 2022. To report annual results on March 17.
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Valeura Energy Inc - Canada-based company engaged in the exploration, development and production of petroleum and natural gas in Turkey - Says debt free at end of 2021, with cash and equivalents totalling USD40.8 million. Valeura, which sold its shallow gas producing business in Turkey in May, says it has retained a royalty on the assets. It is to receive USD780,000 in royalty payments in respect to the fourth quarter. "Further, Valeura expects that it will ultimately receive total royalty payments of USD2.5 million under this arrangement, representing the maximum possible royalty payment under its contractual arrangements with the buyer, and that based on current gas prices and estimated production, the remainder of this amount should be fully recovered by the end of 2022," company adds. Has resumed search for farm-in partner at some assets and notes that exploration licences in Turkey have been extended by local regulators due to Covid-19. "The current phase of the company's exploration licences will now expire on June 27, 2023, after which the company has the option to apply for two additional two-year exploration periods," Valeura adds.
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Arecor Therapeutics PLC - Cambridge-based biotechnology company - Says 2021 performance in line with expectations and says proprietary portfolio is advancing as planned. Notes it has received a European Patent Office patent EP3496734B, which protects novel compositions of insulin glargine with improved thermostability. Arecor says: "This grant further demonstrates the strength of the patent portfolio protecting the group's proprietary Arestat technology." In addition, company says it has begun US phase I trial of lead product AT247, an insulin product.
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By Eric Cunha; ericcunha@alliancenews.com
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