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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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CML Microsystems PLC - Maldon, England-based radio frequency semiconductor maker - Revenue for six months to September 30 rises 30% to GBP8.0 million and swings to pretax profit of GBP1.0 million from loss of GBP304,000 year-on-year. Says it enjoyed strong start to year with recovery in end markets, and interim results were ahead of management expectations. Recommends interim dividend of 4.0p, doubled from 2.0p a year ago. "With a record order book, a growing product range targeting an increasing total addressable market and a strong balance sheet affording us strategic flexibility, the future for CML has never been brighter," firm says.
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Helical PLC - office-focused investment and development company based in London - EPRA net tangible asset value per share 551p at September-end from 533p on March 31. Swings to pretax profit of GBP31.0 million from loss of GBP12.7 million year-on-year. As at Monday, says it has collected 94.5% of September quarter rent, versus 86.8% at November 24, 2020, helped by the reopening of food and beverage tenants. Expects to receive a further 2.6% via agreed payment plans. Looking out, company says: "We are now focused on adding a pipeline of new opportunities to our portfolio and are actively engaged in the market, identifying, appraising and bidding for Central London assets. At the same time, we are maintaining our discipline, ensuring that any new scheme will be accretive to our business and continue our growth."
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Knights Group Holdings PLC - legal and professional services - Reports revenue of GBP59.7 million for half-year to October 31, up 29% on a year ago. Underlying adjusted pretax profit of GBP7.6 million is up 26% year-on-year. "The group has delivered another strong financial performance in line with board expectations, reflecting strong organic growth and contributions from acquisitions integrated over the past year," it says. Notes continued momentum in recruiting and looks ahead to second half "with confidence".
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Intercede Group PLC - cybersecurity software firm with offices in the US state of Virginia and in Leicestershire, England - Revenue for six months to September 30 grows to GBP4.9 million from GBP4.8 million year-on-year. "It is also pleasing to note the longer-term trend of Intercede's revenue as this represents a fifth successive year of H1 growth with compound average growth of 11% over the five corresponding H1 periods to 30 September 2021," it notes. Pretax profit jumps to GBP123,000 from GBP3,000. Company says: "Whilst we remain cautious of the effects of Covid-19, the board can confirm that the outlook for the second half of FY22 continues to remain in line with management's expectations." Adds that Finance Director Andrew Walker plans to retire after 21 years with the company and will stay in his role until an orderly handover to his successor, which Intercede has started a hunt for, can take place.
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Severfield PLC - Thirsk, North Yorkshire-based structural steel maker - Revenue for half-year ended September 30 grows to GBP195.9 million from GBP186.0 million year-on-year and pretax profit improves to GBP7.9 million from GBP6.6 million. Interim dividend per share of 1.2p, up from 1.1p a year ago. Says tendering and pipeline activity remain very encouraging in UK and Europe, while India is seeing strong underlying demand. "Whilst we retain an element of caution given the ongoing supply chain and inflationary pressures which are impacting both us and our clients, our expectations remain unchanged. With a record UK and Europe order book, which provides good visibility of earnings through FY23, a very encouraging pipeline of opportunities, and a well-positioned business in India, the outlook for the group remains good," company says.
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Conygar Investment Co PLC - property investment and development group - Says net asset value per share rises to 217.4p at end of September from 165.8p a year ago. Makes good progress on investment properties and development projects in the period, and says balance sheet "robust". "We have utilised part of the group's cash deposits to commence the infrastructure works and construction of the first phase of the Island Quarter development in Nottingham. However, the continuation of future phases requires us to seek either debt funding, joint venture partners or to sell assets to take best advantage of the opportunities presented by this significant development and discussions are ongoing in this regard," company says.
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US Solar Fund PLC - owns and operates solar power assets in North America - Says net asset value was USD0.947 per share at September 30, up 0.4% from USD0.943 at end of June. Declares dividend of 1.5 cents per share for quarter, in line with full-year payout target of 5.5 cents. Says portfolio production was 7.9% below budgeted expectations for the quarter. "Production over the period had a smaller impact on revenue generated for the quarter, with revenue 5.9% below budget. Approximately half of the losses were due to below-average irradiation with the remaining losses largely attributable to an equipment outage at Milford in Utah and some other equipment and grid-related issues across the portfolio," firm says.
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Leeds Group PLC - Leeds-based fabrics importer - Continues to be affected by pandemic, noting German government is considering further restrictions and other European countries have already introduced fresh rules. "This will have an impact on the trading in both Hemmers/Itex Textil Import Export GmbH and Stoff-Ideen-KMR GmbH. Management will take the necessary actions to mitigate this developing situation," says Executive Chair Jan Holmstrom at Tuesday's annual general meeting.
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BlueRock Diamonds PLC - Kareevlei diamond mine in the Kimberley region of South Africa - Says mining activities at its Kareevlei diamond mine, South Africa, have resumed. Adds that commissioning of the new plant designed to increase production to 1 million tonnes per annum and carats produced to between 40,000 and 43,000 carats per annum is progressing well. "We are confident that given the experience of commissioning Line 1, commissioning Line 2 should be relatively straightforward, which should enable us to fast track to full production," says Executive Chair Mike Houston.
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IP Group PLC - London-based developer of intellectual property-based businesses - Investee Digital Health Ltd, known as ieso, completes GBP39 million series B investment round. Following this, IP Group has 32% stake in digital mental healthcare firm ieso, valued at GBP21.8 million. IP Group committed GBP6.1 million to the funding round.
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Supply@ME Capital PLC - London-based inventory monetisation services provider - Announces arranging agreement with Intesa Sanpaolo Private Bank (Suisse) Morval SA to finalise structuring of the funding for Shariah-compliant Inventory Monetisation platform. "I am delighted we have reached a point in our journey to launching a Shariah-compliant product where we can announce the highly experienced specialist we have found in ISPB Morval," says Chief Executive Alessandro Zamboni.
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AEX Gold Inc - exploration licences in Greenland, including Nalunaq gold mine - Reports positive results after completion of geophysical exploration programme conducted across its 100%-owned Tartoq gold exploration licences in Southern Greenland. Says airborne magnetics and radiometrics were flown over the Tartoq licences in the summer of 2021, and this survey has been used to interpret the underlying geology and structural control to the mineralisation. "This has identified a number of key potential Orogenic Gold hosting sites. This has greatly increased the geological understanding of the licence and has been used to refine the corporation's exploration targets at Tartoq to allow AEX to focus its efforts on the most prospective ground for follow up exploration in 2022," company says.
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Harland & Wolff Group Holdings PLC - Belfast-based specialist in ship repair, conversion and offshore construction - Raises GBP7.3 million through placing of 36.5 million shares at issue price of 20p, and PrimaryBid offer raises further GBP900,000. As such, has conditionally raised total of GBP8.2 million to facilitate growth of the business. Shares close down 31% at 20p on Tuesday.
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Nippon Active Value Fund PLC - targets capital growth from active management of investments in Japanese small-cap stocks - Raises GBP14 million from issue of 10.0 million shares at price of 139.70p each. This price is 1.5% premium to NAV as at Monday, but below Monday's closing share price of 140p.
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Seed Innovations Ltd - Guernsey-based wellness and life sciences firm - Says portfolio company, Little Green Pharma Ltd, has been granted product registration for its 'Billinol LGP' cannabis flower medicine by the Danish Medicines Agency. Notes that Billinol LGP is the first locally produced cannabis medicine in Denmark to receive product registration. Seed owns 3.1% stake in Little Green.
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Kropz - African phosphate developer - Says significant progress continues to be made at Elandsfontein in South Africa, with project on track despite tight schedule and within original projected capital budget for commissioning in December. Notes that the possibility of a fourth wave of Covid-19 infections in South Africa poses risk to project schedule. At Hinda, Republic of the Congo, Hatch is currently in the process of finalising the updated feasibility study, the results of which are expected to be released in January next year.
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Mineral & Financial Investments Ltd - Cayman Islands-based investment company - Says 75%-owned Redcorp Empreedimentos Mineiros Lda and Ascendant Resources Ltd have started drill programme that will be used to support an upcoming Feasibility Study at its Lagoa Salgada VMS project, Portugal. The development costs are funded and guided by Ascendant Resources, which owns the remaining 25% of Redcorp. Drill programme to consist of around 15,000 metres of diamond drilling divided between the north and south zones of the Venda Nova orebody.
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By Lucy Heming; lucyheming@alliancenews.com
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