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(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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Big Yellow Group PLC - FTSE 250-listed self storage firm - Revenue for six months to September 30 rises 24% year-on-year to GBP81.8 million. Like-for-like store revenue up 15%. Pretax profit surges to GBP254.9 million from GBP59.9 million. Interim dividend hiked 21% to 20.6p. Executive Chair Nicholas Vetch calls interim performance "very strong", and this should flow through to full-year results. "The self storage sector more generally, and Big Yellow specifically, has benefited from significant occupancy growth since the end of the first lockdown in late May 2020, with the sector now at historically high levels of occupancy. These levels of occupancy have been a key factor in driving earnings and increasing growth in net achieved rents," company says, though adds next financial year should see more normalised trading environment.
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CentralNic Group PLC - London-based domain name registry and registrar services firm - Revenue in nine months to end of September up 67% to USD282.0 million from USD168.5 million year-on-year. Organic revenue grows 29%. Adjusted earnings before interest, tax, depreciation and amortisation rises 46% to USD32.3 million. Expects to trade "comfortably" at the upper end of market expectations for the year for both revenue and adjusted Ebitda. Notes that market expectations for year range from USD349.0 million to USD384.1 million for revenue, and for adjusted Ebitda range from USD41.8 million to USD43.0 million.
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Plexus Holdings PLC - wellhead technology business - Revenue for financial year to June 30 jumps to GBP2.0 million from GBP525,000 the year before. Pretax loss narrows to GBP4.4 million from GBP5.1 million. "With the impact of the Covid-19 pandemic on the energy market beginning to stabilise, the company achieved a material increase in revenues," it says. Looking ahead, says "now is the time" for its leak-proof POS-GRIP technology to shine. "The board is confident that there will be an increased focus on equipment integrity and guaranteed leak-free operation, and that this will lead to the further monetisation of our POS-GRIP technology through licensing and direct sales which in turn will lead to growth and value for our shareholders," firm says.
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Grafenia PLC - Manchester-based printing and software business - Revenue for six months to September 30 rises to GBP6.3 million from GBP5.3 million year-on-year. Pretax loss narrows to GBP783,000 from GBP1.3 million. Says it has made progress despite challenging period, and notes August and September were its best trading months since November 2019. Adds that trading in October was ahead of last year, and November should end better than a year ago. "We've come out of the pandemic in better shape than we went into it," firm says.
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Harland & Wolff Group Holdings PLC - Belfast-based specialist in ship repair, conversion and offshore construction - Plans to raise minimum of GBP6.0 million via placing of at least 30.0 million shares at price of 20p each, and on top of this unveils PrimaryBid offer to raise up to GBP1.5 million more. Says proceeds to be used to facilitate delivery of existing and expected contracts and secure further higher value contracts in its pipeline. "All our sites are now fully operational and bringing in revenues. As we move into an anticipated annualised cash breakeven position towards the end of 2021, there is now a clear path to profitability in 2022. Furthermore, a cash generative position would facilitate securing corporate debt to supplement our working capital requirements and support growth in the business," says Chief Executive John Wood.
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President Energy PLC - oil & gas company focussed on Latin America - Says two gas well workovers in the company's blocks in Rio Negro Province, Argentina, have now been completed. Incremental gas production has been achieved currently running at the rate of an additional 40,000 cubic metres per day. Costs of two workovers estimated at USD500,000. Adds that workover of the Triche well, Louisiana, continues on plan.
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MGC Pharmaceuticals Ltd - Perth, Australia-based bio-pharmaceutical company - Receives full USD750,000 cash deposit due under terms of three-year USD24 million US supply and distribution agreement with AMC Holdings Inc. Adds that AMC is committed to fund the remaining year one purchase order balance of USD2.3 million by way of cash payment or secured trade credit facility acceptable to MGC Pharma, upon receipt of the first CimetrA product shipment.
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Hermes Pacific Investments PLC - makes quoted or unquoted investments in south east Asia - Plans change to investing policy. Now plans to target investments in property sector in Europe and Middle East, after not finding any suitable significant deals in south east Asia in the financial sector or elsewhere. "The directors consider the property sector will provide the company with significantly more suitable investment opportunities that can provide offer significant growth potential for the future," it says. Will hold shareholder meeting to propose resolution concerning new investing policy.
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MetalNRG PLC - London-based investor in natural resources and energy - Says senior geologist has made "solid progress" on Arizona-based gold project, GoldRidge. The team has acquired documents describing historic mining operations and geologic descriptions of several previously un-recorded mines located within the ownership of the GoldRidge property. "The reports have help us focus our next phase of work which will cover the South-eastern portion of the claim block where most of the historic mining has occurred," it says.
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Yellow Cake PLC - Jersey-based investor in uranium - Confirms exercise of previously announced uranium repurchase option by JSC National Atomic Co and the subsequent exercise of uranium buyback option by Yellow Cake. Says net impact of transactions expected to be a payout to JSC National Atomic Co, or Kazatomprom, of USD6.6 million. Kazatomprom to repurchase 2.0 million pounds of triuranium octoxide and Yellow Cake will exercise buyback option to purchase from Kazatomprom the same quantity at the same price.
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Gusbourne PLC - Kent-based winemaker - Is launching open offer to raise up to GBP6.2 million. Is offering 8.3 million shares at issue price of 75p each on basis of 1 new shares for every 6.97604 existing ones held. Says largest shareholder, Belize Finance Ltd, has committed to underwrite open offer up to maximum of GBP2.0 million. "The open offer is the last in a series of recent transactions which have been planned by the company to achieve two main objectives. Firstly, to raise funding to support the ongoing business growth and development of Gusbourne, and secondly to eliminate all short-term debt from the company's balance sheet," it says.
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Yooma Wellness Inc - Toronto, Canada-based CBD and cannabis-related wellness products maker - Says supermarket chain Asda is now stocking 17 of Vitality CBD Ltd's well-being and active CBD products in vitamin aisles and in-store pharmacies. Yooma bought Vitality for GBP10.2 million in August.
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Seed Innovations Ltd - Guernsey-based wellness and life sciences firm - Makes further investment worth EUR450,000 in Fralis LLC, trading as Leap Gaming. Leap is an Israel-based B2B developer of high-end 3D gaming applications. This takes Seed's total investment in Leap convertible loan notes to EUR741,641.
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Grit Real Estate Income Group Ltd - pan-African property investment and management - Plans open offer and placing for up to 414.6 million new shares at USD0.52 each, the open offer being on the basis of 1.3011 new shares for every 1 existing share held. Proceeds to reduce debt, provide future capital for further expansion, and to allow firm to take controlling shareholding in Gateway Real Estate Africa Ltd and a majority shareholding in Africa Property Development Management Ltd, GREA's external management company. "The board is of the opinion that the Grit Group should take action now to improve the Grit Group LTV and to proactively enhance the position of the company for the expected post-pandemic recovery opportunities rather than wait for the natural recovery of valuations," firm says.
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Chill Brands Group PLC - Grand Junction, Colorado-based cannabidiol products - Begins trading on the US OTCQB Venture Market. "The company and its board of directors are confident that continued execution of Chill's product sales in the US marketplace will drive financial performance and raise the profile of the company's shares to private and institutional investors in the US," it says.
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Zenith Energy Ltd - Africa-focused production and development energy company - Says subsidiary Zenith Overseas Assets Holdings Ltd agrees to buy Canadian North Africa Oil & Gas Ltd for USD1.7 million. CNAOG holds an undivided 22.5% interest in the North Kairouan permit and the Sidi El Kilani concession in Tunisia, as well as a 25% stake in Compagnie Tuniso-Koweito-Chinoise de Petrole, the operator. "The board is delighted to have now completed Zenith's acquisition of an equity stake in the SLK concession, providing Zenith with immediate additional daily production revenue in Tunisia and an exciting future in developing SLK which has significant unexploited potential," says Chief Executive Andrea Cattaneo.
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Kavango Resources PLC - exploration company focussed on Botswana - Starts drilling of B1 Conductor Target with hole KSZDD002. Says hole has been designed to intersect the B1 Conductor, and will be drilled to depth of 650 metres. "Although we believe the B1 Conductor holds considerable potential, which we may be able to identify through Hole KSZDD002, we have not gambled Kavango's future on its outcome," says Chief Executive Ben Turney. "We've already paid the cash element for drilling upfront and have GBP2.1 million in working capital."
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By Lucy Heming; lucyheming@alliancenews.com
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