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TRADING UPDATES: Angling Direct reels in sales; Live Co to make elves

Wed, 18th Aug 2021 12:53

(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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Angling Direct PLC - Norwich, Norfolk-based fishing tackle and equipment retailer - Hails "further progress" in first half ended July 31, despite stores being closed between February 1 and April 12. Says revenue in first half rose 20% to GBP38.4 million from GBP32.1 million a year ago and up 45% from GBP26.5 million in the first half of financial 2020, which was pre-Covid. Says online sales rose 3.2%, "against a very strong comparable period". Angling adds: "The company's newly implemented category management process continues to develop gross margins and leverage supply chain investment to optimise stock availability. In addition, the company has made good progress with future expansion plans, particularly in mainland Europe."

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Live Co Group PLC - Lego brick-based events and entertainment firm based in Surrey, England - Wins Christmas contract at Canterbury Museums & Galleries, Kent for Bricklive Christmas Elf set of models. "The models which consist of Santa Claus and his elves, a reindeer as well as other models will be on display at the Beaney House of Art and Knowledge from 11 December to the 2 January 2022," Live Co says.

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One Media IP Group PLC - Buckinghamshire, England-based digital media content provider - Acquires percentage of licensor's share of the royalties of 5868 Ltd catalogue, which contains recording by the likes of Tina Turner and Don Williams. The catalogue consists of over 1,000 records supplied by 5856 and its partners. "5856 Ltd has been a long-term licensor to One Media and its income has grown successfully over the last 10 years in line with the music industries predicted growth. The deal sees a percentage of the amount that One Media was paying in royalty fees being retained by the group. Whilst not adding to turnover, the retention of royalties payable will flow to the bottom line in cost savings," One Media says.

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Brandshield Systems PLC - London-based cybersecurity - Completes contract with a "leading company in the payment processing sector". Annual software as a service pact sees Brandshield protect client against phishing and impersonation attacks. "Payment processing customers suffer from large-scale impersonation attacks which act as the gateway to further fraudulent activity targeting both online customers and online retailers, the legitimate recipients of the targeted payments. The brand reputation suffered by the legitimate payments platform can be extreme in terms of negative publicity and confidence amongst retailers and customers in the vast e-commerce space," Brandshield explains. It does not disclose any financial details of pact.

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Powerhouse Energy Group PLC - Bingley, England-based company that transforms plastics and waste into clean energy - Notes PEEL NRE plans to develop a second waste plastic to hydrogen site at the Rothesay Dock. The dock is located on the north bank of the River Clyde, West Dunbartonshire in Scotland. Says the 13,500 tonne asset will be second in UK to use Powerhouse Energy's DMG chemical recycling technology.

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Quantum Blockchain Technologies PLC - London-based research on cryptocurrencies mining and other advanced blockchain applications - Updates on crypto mining research and development project, which is aimed at developing tools to speed up existing bitcoin mining tools, while using less energy. "While it is understood that this is extremely ambitious, the radically advanced technologies being utilised; quantum computing, artificial intelligence and deep learning, amongst others, renders the goal achievable," Quantum says. "For this purpose, QBT has assembled a team of 13 sector experts, which is now fully operational." Bitcoin is currently trading at USD44,810, down 4.7% over the past 24 hours according to data from Coinbase. Environmental concerns slashed bitcoin prices in June when Tesla Inc Chief Executive Elon Musk said the company will only accept bitcoin payments again once the process to mine it becomes cleaner. Bitcoin is generated through complex computing processes that require huge amounts of electricity.

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ASA International Group PLC - Weybridge, Surrey-based microfinance lender - Says all units saw collection efficiency of over 95% in July, with exception of India, Sri Lanka, Myanmar, Sierra Leone and Uganda. India collections come in at 58%, despite Covid-19 lockdowns, and Sri Lanka improves to 76% after lockdown-hit June. "Collections in Myanmar declined to 59% due to a two weeks' holiday announced by the government, which is associated to a rapid and severe increase of Covid19 infections. Uganda collections dropped to 83% due to nationwide lockdowns caused by the second wave of Covid-19," ASA adds. Zambia, Tanzania and Philippines each have collections of 100%, Pakistan, Ghana and Kenya all had 99%, both Nigeria and Rwanda at 96% and Sierra Leone at 93%. "Collection efficiency across the group increased or remained broadly stable compared to the previous month in all countries, with the exception of Myanmar and Uganda," ASA explains.

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Riverstone Credit Opportunities Income PLC - aims to generate returns by making loans to companies in energy sector - Realises one investment. Company in February committed USD6.5 million as part of a USD165.0 million loan handed to a long-haul marine transportation services firm. Riverstone calls this investment 'Project Sailfish'. Says loan was realised last week Friday at 28% internal rate of return.

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Novacyt SA - Surrey-based biotechnology group focused on clinical diagnostics - Updates on first half ended June 30 ahead of investor meeting on Wednesday. Says revenue rises 50% year-on-year to GBP94.7 million from GBP63.3 million. Revenue from UK Department of Health & Social Care more than doubles to GBP40.8 million, although Novacyt again notes the DHSC sales are in dispute. Non-DHSC revenue up 20% to GBP54.0 million. Novacyt adds: "Overall, UK private market sales, which currently includes Covid-19 testing in film, media, travel and corporate industries, increased significantly in Q2 2021 compared to Q1 2021. The company believes it is well-placed to continue to support this growth during the second half of the year." Notes colder weather in Northern Hemisphere in second half of 2021 may boost need for virus testing. Company reiterates GBP100 million revenue guidance, excluding DHSC, for full-year.

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Integrated Diagnostics Holdings PLC - Consumer healthcare company with operations in Egypt, Jordan, Nigeria and Sudan - Says Jordan unit Biolab is selected as preferred bidder by operator of Queen Alia International Airport, nation's largest airport, to provide PCR Covid-19 testing services at departures and arrivals. "The main focus of the testing stations will be to offer PCR testing for Covid-19 to passengers arriving in Jordan, as well as additional diagnostic tests to patients including rapid PCR testing for Covid-19 for departing passengers and other, more generic diagnostic tests," IDH says. It does not disclose any financial details.

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Tertiary Minerals PLC - mineral exploration and development in the US state of Nevada and in northern Europe - Says exploration work at Brunton Pass copper asset in Nevada finds "multiple zones of copper-skarn mineralisation". Also spots possible mercury mineralisation. Executive Chair Patrick Cheetham adds: "This is shaping up as a priority target, and we look forward to reporting further exploration results from this exciting prospect alongside the follow-up trenching underway at our Pyramid gold-silver project in Nevada and the recently optioned copper projects in Zambia."

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Cora Gold Ltd - West African focused gold explorer - Reports more "high grade" results as it continues largest ever drilling campaign at Sanankoro gold project in Mali. "The results from the programme have been consistently extremely encouraging, with good widths and high-grade results in generally shallow oxide ore," Cora Gold says.

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Zephyr Energy PLC - Newbury, England-based technology-led exploration and production company - Receives initial analysis from logging work at State 16-2LN-CC well in Paradox basin, Utah. Says well drainage area tipped to hold 1.2 million to 4.5 million barrels of oil equivalent of hydrocarbons. Says diagnostic fracture injection test at well to begin on Wednesday. "The DFIT operation will commence on site today. Results from the DFIT, in combination with the reservoir analysis detailed above, will allow Zephyr to finalise the method for optimal well completion in the near term, with production testing commencing immediately after a successful completion of the well," Zephyr says.

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Oriole Resources PLC - mineral explorer in Senegal and Cameroon - Phase 1 reverse circulation work at Fare asset spots intersections of up to 11 metres at 1.22 grammes per tonne of gold at Fare North and 35 metres at 3.61 grammes per tonne of gold at Fare Far South. Oriole notes it has received data from 38 out of 42 holes. "Results for the remaining four reverse circulation holes, drilled on the southernmost line at Fare Far South, are anticipated later in Q3, alongside results for an initial 3,111 metres of the planned 5,000m phase 2 reverse circulation drilling at Madina Bafe," Oriole adds.

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Jadestone Energy PLC - oil and gas producer in Asia-Pacific region - Says first half output tops expectations, coming in at 9,934 barrels per day. "Average full-year 2021 production guidance of between 11,500-13,500 barrels of oil equivalent per day remains unchanged," Jadestone says.

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Jangada Mines PLC - London-based resource company with assets in South America - Receives fourth set of 500,000 shares in Toronto-listed ValOre Metals Corp, as part of consideration for Jangada's disposal of a PGM project held by Pedra Branca Brasil Mineracao Ltda. "Jangada sold its interests in Pedra Branca to ValOre in a cash and shares agreement, payable in several tranches," company explains. Now holds a 1.3% stake in ValOre and adds 1.0 million shares remain to be issued as part of deal. ValOre is currently worth CAD28.8 million, about GBP16.6 million.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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