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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Braemar Shipping Services PLC - London-based shipbroker - For the six months ended August 31, pretax profit increases 8.9% to GBP4.9 million from GBP4.5 million the year before, on revenue which grows 11% year-on-year to GBP47.4 million from GBP42.8 million, driven by growth in the Shipbroking business through high demand in Dry Cargo with Chinese and other East Asian imports, as well as government stimulus spending in China. Declares dividend of 2.0 pence per share, from none a year prior.
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Egdon Resources PLC - UK-based exploration and production company - For the year ended July 31, pretax loss narrows to GBP1.7 million from GBP4.7 million the year before, as a result of impairments incurred and higher production costs the prior year. Revenue meanwhile grows 13% to GBP1.1 million from GBP963,620, as higher commodity prices more than offset a drop in production to 90 barrels of oil per day from 145 boepd, also falling below guidance of 110 - 130 boepd. Looking ahead, production guidance for the 2022 financial year stands at 240 boepd.
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Wilmington PLC - London-based information services provider - Reports encouraging start to its financial year, and expects to trade in line with management expectations. Cash flow remains strong due to sale of a property.
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RUA Life Sciences PLC - Glasgow-based medical devices using polymer technology and formerly known as AorTech International - During the six months ended September 30, RUA Vascular submits premarket notification for range of polymerically sealed vascular grafts. The business unit resolves delays to patch production equipment, with prototype production now underway. As at the end of September, group has cash position of GBP4.8 million, down from GBP6.3 million at the end of March.
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Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - For the year ended September 30, pretax profit increases 69% to GBP189,000 from GBP112,000 the year before, as lower travel costs and a reduction in trade show expenses cause an 18% fall in overheads to GBP1.3 million from GBP1.6 million. Although orders booking rise 16% to GBP2.8 million from GBP2.4 million, a weaker first half causes sales to drop 17% to GBP2.9 million from GBP3.5 million.
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Goldplat PLC - gold recovery operations in South Africa and Ghana - For the first quarter ended September 30, operating profit remains flat at GBP1.4 million, despite a 6.7% decline in the average gold price. Ghanaian operations continue to perform well, due to continued supply from clients in Ghana and Mali, as well as batches of material received from South America.
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Zotefoams PLC - cellular materials technology company based in Croydon, England - For the third quarter of 2021, reports record sales performance, with revenue 11% ahead of the same quarter a year prior, and 35% ahead of the same quarter in 2019. Zotefoams attributes the performance to demand for polyolefin foams rebounding strongly in most markets, augmented by previously implemented price increases coming effective. Looking ahead, expects revenue and pretax profit to be in line with market expectations.
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Target Healthcare REIT PLC - care homes operator - As at September 30, EPRA net tangible asset per share increases 0.8% to 111.3 pence from 110.4p at the end of June, reflecting valuation uplifts across the portfolio due to rental uplifts. Total property portfolio increases 0.7% on a like-for-like basis to GBP702.7 million, comprising 79 properties, consisting 76 operational care homes and three pre-let sites.
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PipeHawk PLC - provider of technology solutions to highways, automotive, rail and aerospace industries - For the year ended June 30, pretax profit declines 84% year-on-year to GBP79,000 from GBP194,000, due to a first half weakened by Brexit and the ongoing Covid-19 pandemic. This is on revenue which declines 19% year-on-year to GBP6.7 million from GBP8.3 million.
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Nightcap PLC - London-based hospitality investment firm - Experiences positive trading period for the 13 weeks ended September 26, with net sales rising 68% to GBP7.6 million compared to the same period in 2019, attributed to pent-up demand for socialising across cocktail bars. As a result, company expects 53 weeks ending July 3, 2022 to be ahead of current market expectations.
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Conduit Holdings Ltd - Bermuda-based insurance company - For the nine months ended September 30, has estimated ultimate premiums written of USD387.7 million, and gross premiums written at USD291.2 million. Notes that market conditions have remained strong with continuing rate increases and improvements in terms and conditions. Remains on track to achieve the underwriting plan set out in the company's IPO.
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Chill Brands Group PLC - Grand Junction, Colorado-based cannabidiol products - For the third quarter of 2021, sales of 'Chill' branded products to US distribution partners totals USD561,330. Looking ahead, all previously announced targets and distribution agreements remain in place despite logistics issues influencing the speed of rollout.
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TransGlobe Energy Corp - Calgary, Canada-based oil exploration and production company - For the three months ended September 30, swings to pretax profit of USD43.2 million from loss of USD2.9 million the same period a year before, on revenue which hiked to USD57.9 million from USD16.7 million, driven by petroleum and natural gas sales more than doubling to USD83.2 million from USD33.0 million. In addition, the average sales price increased 81% to USD60.85 per boe from USD33.63.
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Nanoco Group PLC - Manchester-based quantum dots developer - For the year ended July 31, pretax loss narrows to GBP5.1 million from GBP6.0 million the year before, due to a reduction in administrative and research & development costs, which more than offset a 46% fall in revenue to GBP2.1 million from GBP3.9 million. The revenue drop was attributed to a completion of the contract with a US customer in the prior year.
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Alternative Income REIT PLC - investor in UK commercial property assets let on long leases - For the quarter ended September 30, collects 89.3% of total rent due for the current quarter, which rises to 96.9% when accounting for tenants contracted to pay monthly. Of the remaining 3.1%, 2.9% is due to be recovered during the fourth quarter of 2021. As at September 30, net asset value per share stands at 85.58 pence, with property portfolio valuation rising 1.8% at GBP111.2 million from GBP109.2 million at the end of June.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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