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UK TRADING UPDATE SUMMARY: Shoe Zone Ends Financial Year On Back Foot

Wed, 28th Oct 2020 17:43

(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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Shoe Zone PLC - Leicester-based value footwear retailer - Says store sales since reopening in June down 20% annually but digital up roughly double. "While the latter is encouraging, it has not filled the deficit from store sales." Says UK government guidance, tiered restrictions and lockdowns in Wales and Ireland have also hurt trading. Says revenue in year ended October 5 at GBP122.6 million, down 24% from GBP161.9 million. Expects to report pretax loss between GBP10.0 million and GBP12.0 million.

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Zambeef Products PLC - Lusaka, Zambia-based beef producer - Says revenue and adjusted Ebitda for year to September 30 in line with market expectataions with earnings before interest and tax and underlying pretax profit 25% ahead of market forecasts. "Despite the uncertainty caused by the Covid-19 pandemic, consumer demand for Zambeef's products in-country has, to date, stood up well, and trading performance has been satisfactory," Zambeef said.

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Gfinity PLC - esports and gaming firm - Appointed by Red Bull as production partners for Red Bull Worlds Simplified, a digital show related to final of League of Legends world championsship.

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Falanx Group Ltd - cybersecurity and strategic intelligence services firm - Says cybersecurity arm Falanx Cyber Defence Ltd joins SolarWinds Technology Alliance Program. TAP is a "group of trusted vendors" in crybersecurity space.

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SysGroup PLC - IT services & cloud company - Says revenue in six months to September 30 expected to be "broadly in line with the comparative period last year". Expects Adjusted Ebitda to rise at least 15%.

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Franchise Brands PLC - Macclesfield-based multi-brand franchise business - Saw "steady recovery" in third quarter ended September 30. Expects to meet market forecasts tipping 2020 revenue of GBP48.6 million and adjusted earnings before interest, tax, depreciation and amortisation of GBP6.1 million. "Q3 saw a welcome recovery from the reduced levels of activity in Q2 and trading in October has continued to follow that trend. If the "second wave" Covid-19 restrictions persist for any length of time, or become tighter, or more widespread, this could have an impact on the group and reduce activity levels," Franchise Brands said.

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Centaur Media PLC - business information, events and marketing provider - Says overall performance has been "resilient" despite Covid-19 hurt. Says revenue in third quarter ended September 30 down 16% annually, easing from second quarter's 24% decline. Expects full-year revenue from continuing operations of GBP32 million and adjusted Ebitda margin of about 10%.

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WANdisco PLC - data-management software company based in Sheffield - Reports launch of LiveData platform for Microsoft Corp's Azure. "This launch is of great significance to WANdisco and marks the culmination of years of co-development with Microsoft and the beginning of the next stage in the product's maturity as an Azure native solution," WANdisco said.

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ULS Technology PLC - Thame, Oxfordshire-based online platforms for conveyancing and financial intermediary markets - Says revenue in six months to September 30 down 31% annually but managed to muster pretax profit of GBP100,000. "This is in line with the fall in volume in the overall housing market," ULS said. "The housing market is undoubtably buoyant at the moment and instructions are up year-on-year. The stamp duty holiday is providing an additional incentive and while this is due to end in March 2021, unless there is a change in government thinking, the impact of Covid-19 is likely to provide a stimulus to the housing market for longer."

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Tribal Group PLC - education software and services provider - Says "performed well" in second half of 2020, despite sales cycles being affected by Covid-19. Expects full year profit to be "comfortably ahead of current market expectations". Expects adjusted Ebitda at roughly GBP14.8 million and total revenue in region of GBP72 million. "The board believes it is appropriate to reinstate a dividend and has resolved to pay an interim dividend of 1.1 pence per share, being the same level as that paid in 2019," Tribal adds.

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Maestrano Group PLC - London-based cloud platform for data management and business analytics - Says total revenue in three months to September 30 surged annually to GBP436,000 from GBP101,000. Reports Ebota loss of GBP346,000, widened from GBP316,000.

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Hargreaves Services PLC - Durham, England-based diversified group delivering services to the industrial and property sectors - Says trading in first four months of financial year in line with board expectations. "As previously reported, Covid-19 has had a limited direct effect on our business activities, with the main impact being the previously reported delay in completion of infrastructure works at the Blindwells site near Edinburgh, due to the three-month cessation of site based activities in Scotland," Hargreaves said.

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Verditek PLC - London-based company producing solar panels - Raises GBP3.5 million through placing of 43.8 million shares at 8 pence each.

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Zoetic International PLC - London-based CBD company - Receives "significant order" under existing distribution contract to roll out stock of Chill tobacco substitute range throughout stores in US. Notes transaction to sell DTU and Kansas nitrogen assets to Path Investments PLC will not be completed within longstop date of October 31. "The company is currently considering its options and anticipates providing an update to shareholders within the next two weeks," Zoetic said.

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1PM PLC - Bath-headquartered finance provider to small and medium-sized enterprises - Receives accreditation from British Business Bank to boost its lending under UK's Coronavirus Business Interruption Loan Scheme.

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Randall & Quilter Investment Holdings Ltd - insurance company - Says wholly-owned subsdiary R&Q Re Bermuda Ltd registered under Segregated Accounts Companies Act 2000. "R&Q Re's registration as an SAC will allow us to provide counterparties with legacy solutions where the assets and liabilities are legally ringfenced, whilst benefitting from the capital strength of R&Q Re's growing balance sheet," R&Q Re Chief Executive Officer Stewart Ritchie said.

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Impax Asset Management Group PLC - sustainability-focused investor - Says unit Impax Asset Management Ltd and BNP Paribas Asset Management Holding have agreed new distribution agreement. "The distribution agreement specifies that, with respect to non-institutional clients only, BNPP AM will benefit from exclusivity in Japan, China and certain countries in continental Europe regarding some or all of the five thematic, listed equity strategies that IAM manages, in some countries subject to minimum performance conditions related to the aggregate level of assets raised," Impax said. "With respect to some wholesale clients, IAM and BNPP AM have agreed a modus operandi with a view to collaborate to deliver a high level of service to clients."

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NextEnergy Solar Fund Ltd - renewable energy investor - Says generation in first half ended September 30 "significantly exceeded budget".

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Zegona Communications PLC - investment company focused on European telecoms - Says investee Euskaltel saw mass market customer rise 20,000 to 802,000 in third quarter. Euskaltel confirmed annual guidance of Ebitda between EUR340 million and EUR350 million.

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Tekcapital PLC - UK intellectual property investment company - Portfolio company Lucyd Ltd, an advanced eyewear provider issued notice of allowance from US Patent & Trademark Office for patent number 16/022,097. "This 'Link' patent covers the functionality of a mobile app which Lucyd has in development to support its wearable ecosystem. The app will provide for the prioritization of various Bluetooth devices," Tekcapital said.

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Impact Healthcare REIT PLC - healthcare-focused real estate investor - Says receives 100% of rent due October 1 and has received 100% year to date. Declares third quarter payout of 1.5725 pence per share. Says net asset value per share at September 30 climbs to 109.06p from 107.17p at end of June.

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PureTech Health PLC - biotherapeutics company - Files registration statement to US Securities & Exchange Commission over potential listing of American depositary shares on Nasdaq Stock Market.

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Diaceutics PLC - diagnostic commercialisation company - Launches DXRX digital platform. "The platform has been designed to accelerate the development and commercialisation of precision medicine diagnostics using a new operating model," Diaceutics said.

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Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - Says sales in year ended September 30 jumped 50% to GBP3.5 million from GBP2.3 million. Swings to pretax profit of GBP112,000 from loss of GBP402,000.

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Omega Diagnostics Group PLC - Alva, Scotland-based medical diagnostics company focused on CD4, infectious diseases and food intolerance - Expects to report total revenue of GBP3.2 million in six months to September, down 29% annually from GBP4.5 million. "The board remains confident in the company's prospects and has made substantial progress over recent months in positioning the business for a significantly improved performance in the second half of the financial year," Omega said.

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EKF Diagnostics Holdings PLC - Cardiff-based diagnostics and central laboratory assay manufacturer - Inks two-year marketing and distribution agreement with Kantaro Biosciences LLC, a joint-venture between Mount Sinai Health System and RenalytixAI PLC. EKF will have exclusive rights in UK and Germany to market and distribute Kantaro's quantitative SARS-CoV-2 IgG antibody test kit. Will have non-exclusive rights in Europe.

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Oxford BioDynamics PLC - epigenetic biomarker developer - Signs human material and data transfer agreement Oregon Health & Science University as part of EpiSwitch Covid-19 disease severity programme. "Some people infected with Covid-19 become severely ill and hospitalized, while many only experience mild illness. Under the terms of the agreement, samples from OHSU will be used to further the development of the company's Covid-19 severity test, aimed at forecasting individuals' risks of severe disease progression in advance, to inform risk mitigation decisions and help optimize acute and long-term treatment," Oxford BioDynamics said.

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Oncimmune Holdings PLC - Nottingham-based immunodiagnostics company - Reports Biodesix Inc kicks off study usuing Oncimmune's EarlyCDT lung blood test. Product is marketed by Biodesix in US as Nodify CDT.

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Sylvania Platinum Ltd - Platinum group metals producer - Sylvania Dump Operations declared 17,927 ounces of 4E platinum group metals, up 98% quarter-on-quarter but down 14% annually. Records USD41.5 million in net revenue for quarter, up by a third annually. Posts net profit of USD21.0 million, up 68% from USD12.5 million a year earlier.

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Empire Metals Ltd - exploration and development firm - Says first reverse circulation drilling results from Eclipse gold project, Australia were "encouraging".

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Atalaya Mining PLC - Cyprus-based copper producer - Begins feasibility study at Proyecto Riotinto to "evaluate the economic viability of producing cathodes from complex sulphide ores". Atalaya says production of cathodes has potential to generate cost savings by reducing transportation charges and cutting emissions.

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Jangada Mines PLC - natural resources company - Investee ValOre Metals Corp updates on exploration at new PGE zone at Pedra Branca asset. "Our drill program continues to generate exciting results, including a discovery of the C-04 Zone in addition to successfully advancing the targets at Cana Brava and Cedro North," ValOre Chair and Chief Executive Officer Jim Paterson said. "Our efficient and cost-effective exploration methodology has now been validated by the drill discovery of high-grade, near-surface PGE mineralization."

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Metals Exploration PLC - natural resources firm with assets in Pacific Rim - Says production in quarter ended September continued but had reduced pace. Says 16,094 ounces of gold sold in third quarter, up 8.0% quarter-on-quarter from 14,908 ounces. Says average realised price was USD1,943 an ounce, up from USD1,722 in quarter two.

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Trans-Siberian Gold PLC - the gold ore mining company in Kamchatka, Far East Russia - Says 23 additional holes drilled between mid-July and mid-October at Vein 25 North area of Asacha gold mine. "We are excited to report the high-grade drilling results from our ongoing drilling campaign with a focus on expanding the scale of Vein 25," Operating Chief Eugene Antonov said.

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Corcel PLC - London-based natural resource exploration and development company - Exercises option to acquire AUD3.1 million of debt in Rsource Mining Corp Ltd. Exercise entails payment of AUD640,000, about GBP349,500, in cash and issue of 23.7 million shares in Corcel to Base Asia Pacific Ltd.

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Chaarat Gold Holdings Ltd - London-based gold miner focused on Armenia and Kyrgyz Republic - Says Kapan third quarter output down 0.4% annually to 15,175 gold equivalent ounces, but in line with forecasts. On track to deliver gold equivalent output of 55,000. Notes fourth quarter could be hurt by hostilities between Azerbaijan and Armenia.

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Empyrean Energy PLC - oil and gas explorer - Notes announcement from Sacgasco Ltd which said neither Sacgasco nor Empyrean will participate in proposed drilling of Borba prospect, onshore California. Empyrean focusing on Asian assets instead.

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Gem Diamonds Ltd - diamond miner - Reports Letseng third quarter diamond sales of 27,326 carats, year to date sales of 70,559 carats down 13% from 81,345 carats. Value of year to date sales up 2.9% to USD134.6 million from USD130.8 million.

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Red Rock Resources PLC - gold explorer in Kenya and Australia, copper-cobalt in Congo - Says investee Jupiter Mines Ltd reports first half post-tax profit of USD29.8 million despite Covid-19 restrictions.

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Redde Northgate PLC - vehicle rental and services firm - Says first five months of financial year saw "sequential monthly improvements in trading". VOH bounced to above pre-virus levels but Redde struggled due to local lockdowns.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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