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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Bidstack Group PLC - London-based in-game advertising platform - Expects revenue for financial year 2021 to be below current market expectations due to delays in completing certain agreements and deferrals of advertising campaigns. However, revenue for the year will be significantly higher than last year's GBP1.7 million. Profits are expected to be broadly in line with market forecasts. Also announces signing of two-year partnership deal with digital media platform Azerion. Due to recently signed commercial agreements, Bidstack has secured a guaranteed minimum revenue stream of USD30 million over two years, beginning March 1.
"In the second half of 2021, as the in-game market has started to mature, we have focussed on delivering advertising campaigns that have an accretive impact on gross margins," comments Chief Executive James Draper. "With our network now growing, through the tremendous work of our publisher acquisition team, our portfolio is now diversified sufficiently to attract a broader range of advertising verticals."
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Air Partner PLC - Gatwick, England-based aviation services firm - Notes strong trading in the second half of the financial year to January 31 has been driven by "exceptional freight bookings", including the transportation of vaccines. Also witnessing strong levels of trading in Private Jets division in both the US and UK. States Group Charter's government and sports work has remained resilient, tour operators, automotive and meetings, incentives, conferences and exhibitions activities are still not back at pre-pandemic levels however. Now expects full-year pretax profit to be materially ahead of current market expectations
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Tekmar Group PLC - Darlington-based offshore energy industry services - Wins subsea cable protection contract at 3.6 gigawatt UK wind farm. The contract was awarded by Deme Offshore for work at the Dogger Bank wind farm off the North East coast of England. The project is a joint venture between SSE Renewables, Equinor and Eni and is set to become the world's largest offshore wind farm, capable of generating enough renewable energy to power six million UK homes once fully operational. Tekmar will design, manufacture and supply cable protection products to protect subsea inter array cables on the first two phases of the project, with a customer option for the third phase.
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ThomasLloyd Energy Impact Trust PLC - Asia-focussed renewable energy investment trust - Completes investment in Negros Island Solar Power. ThomasLloyd takes a 40% stake in NISPI's three solar power projects in the Philippines, totalling 80 megawatts. Following the acquisition, the company has invested around 22% of the funds raised at IPO.
Chair Sue Inglis comments: "We are delighted to announce the completion of our first acquisition, which represents a significant initial step in our commitment to deploy the IPO proceeds in the coming months. NISPI will provide clean electricity to 127,000 people, avoid the production of 81,330 tonnes of carbon dioxide annually and generate first year dividend income."
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S-Ventures PLC - investment firm - Raises around GBP3 million through issue of 4.3 million shares at 70 pence per share. The company says it intends to use the proceeds to "accelerate its plans to grow and acquire natural food tech and wellness brands". Chief Executive Scott Livingston states: "It is an exciting time for the company as we seek to accelerate our growth. The sectors in which we are seeking to develop our brand strategy are experiencing many changes and this is presenting us with exciting opportunities. These funds will enable the company to move forward strongly."
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Helical PLC - office-focused investment and development company based in London - Buys GBP160 million property in central London with 999-year lease. The office on New Bridge Street is currently let to lawyers Baker McKenzie, whose lease expires in December 2023. The passing rent is around GBP7.3 million per year, Helical states.
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By Will Paige; willpaige@alliancenews.com
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