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Pin to quick picksKropz Plc Share News (KRPZ)

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EARNINGS SUMMARY: Provexis, Thruvision loss narrows; Unigel revenue up

Fri, 30th Sep 2022 21:11

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

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Kropz PLC - African phosphate developer - Pretax loss in the first half 2022 widens to USD60.9 million from USD7.4 million a year before. Can be put down to a USD44.7 million loss on the disposal of a subsidiary.

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Provexis PLC - Reading, England-based producer of heart-health functional food ingredient Fruitflow - Pretax loss in the first year to March 31 narrows to GBP299,132 from GBP361,803 the year before. Revenue falls 16% to GBP426,168 from GBP505,330. Explains the decrease in revenue with a fall from income received from its alliance agreement with DSM. Expects that the new gut microbiome patent application will have a strongly beneficial effect on current and future commercial prospects.

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Valereum PLC - Gibraltar-based blockchain technology - Pretax loss in the six months to June 30 widens to GBP1.0 million from GBP501,478 a year before, as administrative expenses jump to GBP1.0 million from GBP519,532. Records no revenue, slipping from GBP11,210. "We remain focused on establishing the Gibraltar Stock Exchange not only as one of the world's first fully regulated exchanges crossing the digital divide, but also linking into markets not touched by other European exchanges," Chair Richard Poulden comments.

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Rurelec PLC - London-based power producer with operations in Latin America - Swings to a pretax profit of GBP697,000 in the first half of 2022 from a loss of GBP875,000 a year before. Attributes this to a foreign exchange gain of GBP1.2 million. "The board continues to pursue measures to unlock the inherit value of the company through selling or developing assets and managing cash receipts from the power generation plant in Argentina. We are conscious that the economic situation in Argentina remains challenging and we continue to monitor the impact on our operating asset there," Executive Director Andy Coveney says.

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Stranger Holdings PLC - London-based investment company intending to acquire a target company, business or asset in the industrial or service sector - Pretax loss for the year to March 31 widens to GBP602,000 from GBP432,000 the year before. Administrative expenses jump to GBP457,000 versus GBP344,000.

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Unigel Group PLC - Eastbourne, East Sussex-based manufacturer of thixotropic gels for the fibre optic cable industry - Expects revenue of GBP17.9 million for the first half of 2022, up 87% year-on-year. Anticipates a pretax profit of GBP940,000, up 94% on a year ago. "The directors are pleased with the growth achieved in the first half of 2022 which arose from a combination of higher selling prices, new product introduction and new customer acquisition. Management continue to optimise the manufacturing capability of the group and continue to improve its product range through its in-house research and development team," the company states.

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Hawkwing PLC - London-based cash shell - Pretax loss for the first half of 2022 widens to GBP547,000 from GBP190,000 a year before. Records finance costs of GBP938,000.

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Xeros Technology Group PLC - Rotherham, England-based environmental technology firm - In the six months to June 30, pretax loss widens to GBP4.2 million from GBP3.4 million. Administrative expenses jump to GBP4.2 million versus GBP3.6 million. Revenue falls to GBP40,000 from GBP341,000. Blame this on licensing revenue, which fell 92%.

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Kendrick Resources PLC - London-based exploration company - Pretax loss in the first half of 2022 widens to GBP184,700 from GBP169,362 a year before. Operating expenses jump to GBP173,828 versus GBP153,408. Records no revenue, unchanged from a year before. Plans to build a long-term energy metals business in Scandinavia to deliver energy metals to Europe to help enable its renewable energy transformation

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Thruvision Group PLC - Abingdon, England-based people-screening technology - For the year which ends March 31, pretax loss narrows to GBP1.9 million from GBP2.8 million a year before. Revenue rises 25% to GBP8.4 million from GBP6.7 million. Credits this to a strong performance, driven by significant growth in Profit Protection. Believes it is well positioned to deliver good growth.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Kropz reports GBP30.2 million revenue; annual loss narrows

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24 Jan 2024 12:31

IN BRIEF: Kropz sells phosphate concentrate to Kropz Elandsfontein

Kropz PLC - South Africa-focused phosphate producer and developer - Notes sale of 67,873 tonnes of phosphate concentrate from Kropz Elandsfontein (Pty) Ltd during the fourth quarter of 2023. This brings sales to 262,703 tonnes for the 12 months ended December 31. Kropz says it "remains committed to growing its sales pipeline" and has scheduled sales to take place in the first quarter of 2024.

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17 Jan 2024 14:21

IN BRIEF: Kropz makes final drawdown of ZAR52.5 million on loan

Kropz PLC - South Africa-focused phosphate producer and developer - Makes final drawdown of ZAR52.5 million on loan, the drawdown was announced in December. In November, it entered into a new conditional convertible equity facility of up to ZAR550 million. The facility was signed with a major shareholder, the ARC Fund, to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd.

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8 Dec 2023 12:29

IN BRIEF: Kropz makes final drawdown on ZAR550 million facility

Kropz PLC - South Africa-focused phosphate producer and developer - Says it has now made final drawdowns on its bridge loan for ZAR20 million, around GBP841,039, and ZAR7.5 million. In September, Kropz said Kropz Elandsfontein (Pty) Ltd and The ARC Fund have agreed to a ZAR250 million. It said the loan facility to meet immediate and additional near-term funding requirements at Elandsfontein. The facility will be used to progresses commercial sales, and also to meet Elandsfontein's interest and capital payment obligations to BNP Paribas SA. In November, it entered into a new conditional convertible equity facility of up to ZAR550 million.

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8 Nov 2023 15:07

IN BRIEF: Kropz changes accounting reference dates to March-end

Kropz PLC - South Africa-focused phosphate producer and developer - Changes its accounting reference date to March 31, from December 31. Accordingly, its current accounting period, which began on January 1, will now end on March 31, 2024.

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23 Oct 2023 13:30

IN BRIEF: Kropz makes ZAR75 million drawdown on bridge loan facilities

Kropz PLC - South Africa-focused phosphate producer and developer - Makes second drawdown on ZAR250 million - around GBP10.8 million - bridge loan facility with its major shareholder the ARC Fund. Says drawdown is for ZAR75 million. The first was for ZAR155 million. The facility was agreed to meet immediate cash requirements at Kropz Elandsfontein Pty Ltd.

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3 Oct 2023 11:49

IN BRIEF: Kropz shares jump as receives extension for outstanding loan

Kropz PLC - South Africa-focused phosphate producer and developer - Notes that French bank BNP Paribas SA extends its waiver for loan facility to December 31. Outstanding amount is USD15.0 million. "A replacement loan is expected to be in place by the last quarter of 2023, before expiry of the facility," Kropz says.

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IN BRIEF: Kropz interim loss narrows as notes record rainfall

Kropz PLC - South Africa-focused phosphate producer and developer - In the six months to June 30, pretax loss narrows to USD4.0 million from USD61.0 million a year prior. Reports USD14.1 million revenue for the first half of 2023, compared to none a year prior. Cost of sales are USD16.4 million in the first half of 2023, compared to none in the first half of 2022. "With the unexpected record rainfall experienced in the Western Cape the mining plan was amended to consider higher rainfall in winter periods to minimise the effects of wet mining conditions," company notes. Looking ahead, expects to stay in operational existence until at least December next year.

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18 Sep 2023 17:07

TRADING UPDATES: Kropz makes ZAR155 million draw down on loan

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