(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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Kape Technologies PLC - Isle of Man-headquartered digital security software provider - Posts pretax profit of USD10.0 million in six months ended June 30, soaring from USD1.4 million last year. Revenue increases 62% to USD95.5 million from USD59.0 million. "2021 is shaping to be a truly exceptional year for Kape. Pleasingly, our underlying business has continued to deliver record financial results alongside the hugely impactful acquisitions of both Webselenese, and more recently, ExpressVPN," company says. Anticipates revenues of between USD197 million and USD202 million and adjusted earnings before interest, taxes, depreciation and amortisation of between USD73 million and USD76 million for the full year 2021 on a reported basis.
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M&C Saatchi PLC - London-based advertising agency - Posts pretax profit in six months to the end of June of GBP4.8 million, swinging from GBP5.6 million loss a year prior. Revenue jumps 15% to GBP171.2 million from GBP149.3 million. No dividends were paid in 2020. No interim dividend is proposed for 2021. "Assuming a return to normal trading conditions, we would expect to reinstate dividends from 2022," company says. "Momentum from the first half has continued into the second with important client retentions and new wins," company adds.
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Dekel Agri-Vision PLC - West African agriculture company - Posts pretax profit in six months to June 30 of EUR2.0 million, soaring from EUR456,000 last year. Revenue rises 51% to EUR21.7 million from EUR14.4 million. "Construction of the cashew processing plant has made huge strides in the first half of 2021. We are on the cusp of first production within the next 50 days, with the commissioning phase now also commenced," says company. "Looking forward into 2022, we believe that the company is well positioned to enter a period of sustained growth in financial performance. Together with the current high palm oil prices, the other key catalyst behind the step-up in performance will be, we expect, the incorporation of the first full year of Cashew production, which will diversify and significantly increase our profitability profile," company adds.
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Oracle Power PLC - coal miner in Pakistan and gold explorer in Western Australia - Reports pretax loss in six months to June 30 of GBP301,971, narrowed from GBP364,300 last year. Company does not post revenue. Administrative expenses fall 17% to GBP302,032 from GBP364,591 last year. "We have also continued to explore interesting project development opportunities in the gold mining sector in South America and Asia during the course of 2021. I can confirm that the company has deployed appropriate resources to assess various projects and continues to do but also remains cognizant of managerial and operational constraints of a small cap company," company says.
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Landore Resources Ltd - Guernsey-based exploration & development company focused on Canada - Reports widened pretax loss in six months to June 30 of GBP2.4 million from GBP695,406 last year. Exploration costs ramp up to GBP1.6 million from GBP102,750. Says will continue to use the money from February fundraise to develop the BAM gold resource in Canada and the completion of a further exploration programme along strike.
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Time Finance PLC - Bath, England-headquartered funding solutions provider - Posts pretax profit in the financial year to May 31 of GBP2.0 million, flat year-on-year. Revenue slips 17% to GBP24.2 million from GBP29.2 million. Cost of sales decreases 29% to GBP9.4 million from GBP13.3 million. Says the 2019 interim dividend that was deferred as a result of the pandemic will not be paid, and future dividends will be kept under review. "In the year ahead, we will focus on our recovery from the impact of the pandemic but it is clear that the economic effects of the pandemic will continue to overshadow many of the sectors in which our customers operate. The Group benefits from being a provider of a wide range of financial products to SMEs across multiple business sectors and has no overweight dependence on any specific business category," says company.
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Tlou Energy Ltd - Lesedi gas-to-power project and Boomslang project in Botswana - Reports pretax loss in 12 months to June 30 of USD2.1 million, narrowing sharply from USD13.3 million last year. Other income falls 26% to USD50,000 from USD68,000. There were no dividends recommended or paid during the financial year. "Tlou is now ready to build the grid connection for the Lesedi Power Project as well as advancing our carbon neutral hydrogen strategy. Despite the interruption to our operations resulting from the pandemic, a series of positive events for the Company have unfolded over the period including: a ministerial site visit to the Lesedi project, signing of a 2 megawatt PPA and grid connection agreement with Botswana Power Corporation, continued gas production at Lesedi and Boomslang permit environmental approval," says company.
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Rural Broadband Solutions PLC - Isle of Man-based telecommunications company - Posts pretax loss of GBP401,000 for six months to June 30, widening from GBP156,000 a year prior. Turnover comes in at GBP395,000, compared to nothing a year prior and GBP128,000 in the second half of 2020. Other administration fees & expenses rises to GBP602,000 from GBP156,000 a year ago. "From our current position of 2,650 monthly paying connections, we are anticipating near to 2,800 connections by the end of the current financial year and 3,600 monthly paying connections by 30th June 2022. Most of these connections will still be through our existing FWA network. Turnover has improved each month since the period end," says company.
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Litigation Capital Management Ltd - alternate asset manager - Sees assets under management grow 34% to AUD336 million, about GBP178.6 million, at June 30 from AUD250 million a year prior. Pretax profit rises 59% to AUD12.9 million in the 12 months to June 30, from AUD8.1 million a year ago. Revenue increases 3.1% to AUD36.9 million from AUD35.8 million. "Prudent decision taken not to pay a year-end dividend payment to preserve cash to meet increase in demand for investments to accelerate growth in our portfolio," says company. "As we look forward, we see opportunity. With the GAR Fund significantly committed and first close of Fund II expected in the first half of financial 2022 we are making solid progress in building the scale of the third-party capital asset management business. We find ourselves with a capital structure providing us with more flexibility to permit portfolio growth as well as a larger pool of funds under management in our asset management business," company adds.
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Eastinco Mining & Exploration PLC - Musasa tantalum and tin metal project in Rwanda - Posts pretax loss in six month to June 30 of GBP252,000, marginally narrowed from GBP253,000 a year ago. Does not post any revenue in half compared to GBP32,000 last year. Administrative expenses fall 16% to GBP175,000 from GBP209,000. "These accounts relate to the company for the first half of 2021 and reflect a loss of GBP252,000 from administrative costs, corresponding to the Company's expenditure on overheads, operational costs, legal and professional expenses primarily related to the Musasa JV operation in Rwanda," company says. Says new joint venture in southern Rwanda "highly promising". "The known pegmatites form an encouraging exploration target with considerable upside exploration potential if the tantalum grade distribution along the strike and depth extensions can be proven," company adds.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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