(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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Renewi PLC- waste management services provider - For six months to September 30, revenue rises to EUR915.6 million from EUR821.4 million last year and pretax profit surges to EUR44.7 million from EUR4.4 million. Attributed strong revenue growth to stronger recyclate prices. Says keeping the dividend under review, instead focusing on ongoing investments in growth projects. "We have successfully retained some of the structural cost savings made in response to the Covid-19 pandemic and these, combined with volume recovery and ongoing strong recyclate prices, have contributed to the significant increase in margins and profits," Chief Executive Otto de Bont says. Adds: "Following the strong performance in the first half and previous increased guidance expectations, the board is further increasing its financial 2022 expectations, which assume a moderation of recyclate prices in the second half as well as a reduced throughput at [waste treatment plant] ATM."
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Warehouse REIT PLC - real estate investment trust focused on warehouse assets - Pretax profit in six months to September 30 doubles to GBP86.4 million from GBP40.4 million year before. Revenue rises to GBP23.4 million from GBP15.7 million and investment property gains increase to GBP16.7 million from GBP10.8 million. Maintains interim dividend at 3.1 pence. Portfolio valuation ends first half at GBP907.1 million versus GBP792.8 million at March 31. Net asset value per share rises to 152.4p from 135.1p over six-month period. Loan-to-value ratio rises to 26.2% from 24.6%. Contracted rent at end of September GBP44.3 million versus GBP43.0 million six months earlier. Chair Neil Kirton says: "We have maintained our rigorous focus on further improving the quality and security of income from the portfolio, as well as acquiring high-quality, well-located assets at valuations that are accretive to shareholders. Importantly, we also made good progress with embedding sustainability considerations in every aspect of our operations. As the industrial asset class continues to rerate, we look forward to delivering further strong performance for shareholders." ​
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John Lewis of Hungerford PLC - kitchen manufacturer and retailer - Returns to profitability for recently ended financial year. In year ended June 30, records pretax profit of GBP81,000 versus GBP885,000 loss year before. Revenue surges 42% to GBP7.9 million from GBP5.6 million. Also says it has started new financial year with an order book substantially larger than in recent years. Says level of orders secured in the first 18 weeks of new year has remained high. Notes despatched sales, forward committed orders and future orders against which a first stage deposit has been taken, stood at GBP7.4 million at year-end, up from GBP4.9 million at same point in 2020 and at GBP4.4 million in 2019.
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Eckoh PLC - London-based secure payment products provider - Wins "significant" contract with unnamed global food and drink company. Will provide secure payments services from its Cloud platforms to new client's global contact centre operations. Three-year contract worth USD1.5 million, but believes that this will be exceeded, and that over time Eckoh has the opportunity to significantly upscale the value of the relationship. Adds: "This is Eckoh's largest ever contract win for a Cloud solution delivered into multiple territories. We expect to see more global procurement contracts like this for Cloud delivery, as major enterprises seek to uphold rigorous security standards consistently across all of their regions."
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Ideagen PLC - information management, safety, risk and compliance software provider - Buys Australian compliance software firm Compliance Technology Holdings Ltd for AUD105 million, about GBP57.7 million, plus deferred conditional earnout payment of up to AUD5 million. "We see a significant opportunity to leverage CompliSpace's Australian footprint with our existing product suite, whilst also expanding its customer base into Europe and North America - in line with our strategy to grow both our geographical and sector expertise," says Ideagen Chief Executive Officer Ben Dorks.
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ITM Power PLC - Sheffield-based hydrogen power equipment maker - Agreed heads of terms to acquire site for its second UK factory in Tinsley, Sheffield, from the University of Sheffield for GBP13.4 million. Intends to build a second automated factory of some 260,000 sq. ft on the site with a capacity of 1.5 gigawatt per annum and currently expected to be fully operational by the end of 2023 to complement the existing 1GW pa capacity at Bessemer Park. The overall cost of the new Sheffield factory is expected to be in the region of GBP50 million to GBP55 million.
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Mode Global Holdings PLC - London-based payment services app - Enters payments partnership with UK luxury fashion retailer LK Bennett, which will see the brand offering Mode as an additional payment option for customers. "Through this partnership, Mode will leverage the power of open banking to bring an innovative payments and rewards experience to LK Bennett customers, enabling them to make instant payments and earn rewards, all in one app," company says. Customers can now scan a QR code or click a button, to make payments via the Mode app.
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GYG PLC- superyacht maintenance company - Says that, as a result of significant operational and financial disruption caused by Nobiskrug shipyard, it will now deliver a financial result for 2021 much lower than previous expectations. GYG is handling payment delays at Nobiskrug shipyard in Germany, with whom it has three active contracts and invoices outstanding totalling around EUR2.8 million. "The Nobiskrug shipyard administration and ongoing contractual discussions remain unresolved. Progress is being made and management is confident of reaching a resolution, however, it is now clear that work is unlikely to restart on these projects in the current financial year," GYG says. Adds: "The board also reiterates that, after further thorough review, it is confident that the group can meet its working capital requirements and repay its borrowings as they fall due providing that the Nobiskrug situation is resolved before December 31, which the board fully expects. On this basis, the board does not believe that the company will need to seek additional funding from shareholders in the foreseeable future to maintain operations or to meet its obligations."
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Harworth Group PLC - Rotherham, South Yorkshire-based land regeneration - Conditionally exchanges contracts for the sale of its Kellingley development site in Selby, North Yorkshire, to HPREF I Konect Investments SARL, for GBP54.0 million cash. Deal to complete in August next year. Intends to use the proceeds from the sale for general business purposes, aligned to its recently announced strategy to double the size of its business over the next five to seven years. Notes it took control of the 149-acre Kellingley site in 2016, following the closure of the former Kellingley Colliery.
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Amala Foods PLC - Jersey-based food technology firm formerly known as BigDish - Says working with independent auditors to provide verification and complete the audit process. Expects to publish annual results before end of month, when it will make application for listing to be restored. Adds: "The company has continued to progress its operations. Several restaurants have now undertaken testing of Amala plant-based pepperoni products and have expressed a willingness to incorporate the product into their menus with the first being launched by the end of this month. The company is also meeting various restaurant groups in the US in December with a view to secure supply agreements."
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By Paul McGowan; paulmcgowan@alliancenews.com
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