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Pin to quick picksItm Power Share News (ITM)

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TRADING UPDATES: Confident outlooks from Hunting, Audioboom, SigmaRoc

Thu, 16th Dec 2021 17:22

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Hunting PLC - London-headquartered oil field services - Trading for the fourth quarter of 2021 to date remains in line with management expectations, and expects a breakeven result in earnings before interest, tax, depreciation and amortisation expected for the full year, due to a stronger performance in US onshore activity, while EMEA trading remains subdued. For the three months ended November 30, the order book rises by 20%. Looking ahead, improved trading performance is expected to continue into 2022, however for further diligence, company has postponed its plans to launch a level two American Depositary Receipt programme.

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Audioboom Group PLC - London-based podcast producer - Due to the strong momentum in the fourth quarter of 2021, company expects to generate significantly increased adjusted Ebitda, alongside a marginal improvement in revenue, ahead of market expectations. Performance was driven by higher advertiser demand for premium content, strong audience growth and increase revenue from ad tech.

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SigmaRoc PLC - London-based construction materials company - For the 11 months ended November 30, revenue more than doubles year-on-year to GBP236.5 million, and rising 13% on a like-for-like basis. As a result, company remains confident in delivering an underlying Ebitda for 2021 as whole ahead of analyst consensus.

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Netcall PLC - Bedford-based customer engagement software provider - Trading momentum continues into the first half ending December 31, with good demand for cloud services across core sectors of healthcare, public sector and financial services, leading to growth in revenue and annual contract value.

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McBride PLC - Manchester-based cleaning and hygiene product manufacturer - For the six months ending December 31, expects adjusted loss before interest, tax and amortisation of between GBP14 million and GBP17 million, due to rising input costs and the timing of pricing agreements, as well as delays with some customers.

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Egdon Resources PLC - UK-based exploration and production company - For the three months ended October 31,revenue hiked to GBP1.1 million from GBP173,000 the same period a year prior, primarily gathered from output from Wressle-1 well and the Ceres gas field. Wressle has produced at an average of 666 barrels of oil per day over last seven day period. In early 2022, testing will be completed to see "full potential of the well".

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Hurricane Energy PLC - Surrey, England-based oil producer - For November, the Lancaster P6 well produced an average oil rate of 10,124 barrels of oil per day, with an average water cut of 37%. During the month, the company completed the plugging and final abandonment of the Lancaster 205/21a-4z well for a cost of USD1 million. As at November 30, Hurricane has net free cash of USD127 million.

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Kazera Global PLC - diamonds and rare earths explorer in South Africa and Namibia - For the current production cycle ending January 2022, diamond output is in excess of 750 carats, beating the prior highest diamond production of 242 carats. For the current cycle, Kazera has set a production target of 1,000 carats. Looking ahead, expected to be "significantly cash flow positive" during 2022.

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National World PLC - UK newspaper industry investor that acquired JPIMedia Publishing in May - For the year ending January 1, 2022, revenue is expected to be around GBP85 million, with revenue in the second half expected to be broadly in line with the second half of 2020, driven by growth in digital revenue more than offsetting a decline in print.

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ITM Power PLC - Sheffield-based hydrogen power equipment maker - For the six months ended October 31, adjusted loss before interest, tax, depreciation and amortisation widens to GBP13 million from GBP10.4 million, despite revenue hiking to GBP4.1 million from GBP200,000, with a record backlog of 499 megawatts as at December 1, up 61% since September.

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Advanced Medical Solutions Group PLC - Winsford-based surgical dressings - Results for 2021 is expected to be in line with market expectations, with both business units reporting significant growth with trading recovering in line with expectations and rebuilding levels of elective surgery towards pre-pandemic levels. In addition, the volume of product increased significantly with a continued improvement in operational leverage.

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Gym Group PLC - Croydon-based low-cost gyms operator - Trading in line with market expectations for 2021, with total member numbers rise to 753,000 to the end of October from 547,000 at the end of February. However, this has waned in November to 735,000. Meanwhile, headline prices have improved, with the DO IT membership increasing to GBP19.23 in November from GBP19.11 in June.

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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Expects revenue for the second half of 2021 to be ahead of the first half, at GBP6.5 million from GBP2.8 million. In addition, for 2021 as whole, expects adjusted Ebitda to be ahead of the GBP600,000 reported for the first nine months of trading. For 2021, revenue is set to exceed GBP9 million, compared to GBP2.8 million the year before.

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Rotala PLC - bus operations at Heathrow airport and in West Midlands and North West - For the year ended November 30, expects to swing to profit of around GBP300,000 from a loss of GBP4.8 million, on revenue set to grow 24% year-on-year to GBP96.5 million from GBP78.0 million. By the end of the year passenger numbers have reached 80% to 85% of pre-Covid levels.

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Robert Walters PLC - London-based recruitment firm - For 2021, expects pretax profit to be "comfortably ahead" of current market expectations.

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Jadestone Energy PLC - oil and gas producer focused on the Asia-Pacific region - Achieved the target of delivering around 20,000 barrels of oil equivalent per day of output by the end of 2021, driven by strong performance from the Montara H6 well and initial flows from Skua-11 post workover. Average annual production expected to be between guidance range of 11,500 - 13,500 boe per day. For the fourth quarter of 2021 to date, production has averaged 17,800 boe per day.

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Wentworth Resources PLC - natural gas production in Tanzania - Annual average production rate for 2021 is expected to exceed 80 million cubic feet per day, above the high-end of revised guidance for the year. Also expects to achieve record revenue, Ebitdax and cash on hand.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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