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TRADING UPDATES: Gattaca interim profit sinks on decreased revenue

Wed, 31st Mar 2021 11:26

(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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Gattaca PLC - Fareham, Hampshire-based engineering and technology recruitment firm - Posts pretax profit for the six months ended December 31 of GBP106,000, falling from GBP1.4 million a year prior. Revenue decreases 31% to GBP206.5 million from GBP297.6 million the year before. Does not declare interim dividend, unchanged from the year before. Says "whilst the pace of the recovery remains uncertain, we are seeing more encouraging signs in the market and improving activity rates".

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Condor Gold PLC - gold exploration and development in Nicaragua - Posts pretax loss of GBP1.3 million in 2020, narrows from GBP1.5 million a year prior, thanks to a GBP439,228 gain on a disposal. "It has been a transformational year for the company with the permitting of 2 additional open pits, and a significant de-risking of the Project with the acquisition of land and advancement of engineering studies," says Condor. Says the key objective for 2021 is to continue to advance La India project in Nicaragua to production.

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KCR Residential REIT PLC - residential-focused real estate investment trust - Posts pretax loss for six months ended December 31 of GBP859,476, narrowing from GBP2.5 million a year prior. Revenue increases 8.9% to GBP465,030 from GBP427,057 a year before. Says portfolio level occupancy remains high, above 95%, rental values have improved and capital values remain firm. Says it is possible that, in the short term, further friction in the economy following the Brexit agreement and the ongoing travel restrictions will have a negative impact on the economy and the demand for short-let accommodation.

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Catena Group PLC - venture capital firm - Posts pretax loss from continuing operations for 2020 of GBP491,631, widening from GBP188,150 a year prior. Revenue falls to GBP883,133 from GBP1.7 million the year before. "As a result of the Covid-19 pandemic and the closure of schools for much of the year, trading has been severely impacted at the group's school sport coaching subsidiary, Sport in Schools Ltd. This has had an adverse impact on profitability and cash flow," says Catena. Says the business is well positioned to recover as schools have re-opened and restrictions continue to be lifted. Says it is at an advanced stage in the acquisition of Insight Capital Partners Ltd, the data science and machine learning solutions company. Does not recommend a dividend.

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DP Poland PLC - Domino's Pizza franchisor in Poland - Says trading performance is in line with management expectations for 2020. Says system sales are up 7% in 2020 to PLN87.1 million, about GBP15.9 million, from PLN81.4 million a year prior.

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Symphony Environmental Technologies PLC - UK-based plastic technologies provider - Posts pretax loss in 2020 of GBP437,000, narrowing from GBP697,000 a year prior. Revenue increases to GBP9.8 million from GBP8.2 million. Pays no dividend in 2020, unchanged from 2019. Says the commercial team is extremely busy and due to strong interest in our technologies, they are focusing on a number of major markets, where sales visibility, potentially high sales volumes, and short-term delivery prospects are strong.

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Mercantile Investment Trust PLC - investment trust focused on UK medium and smaller sized firms - Posts net asset value per share at January 31 of 251.0 pence, down 9.0% from 275.8p a year before. Says its revenue account has been severely impacted by the consequences of Covid-19 as many portfolio companies either cut or cancelled their dividends. Revenue per share in the year ended January 31 decreased to 4.10p, from 7.64p in 2020. Does not declare a final dividend, leaving annual payout at 6.7p per share, representing an increase of1.5% year-on-year. "Whilst we are disappointed to have delivered negative returns to investors over the review period, the company's long-term performance record is compelling," says Mercantile. Notes uncertainty posed by Covid-19 going forward.

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Bigblu Broadband PLC - Bicester, England-based broadband services provider - Swings to pretax loss in year ended November 30, 2020 of GBP4.6 million from a profit of GBP153,000 a year prior. Revenue increases to GBP27.1 million from GBP26.8 million. Interest payable and finance costs increases to GBP7.0 million from GBP2.6 million. Does not declare a dividend, unchanged from the year prior. "We remain extremely excited by the potential of the Continuing Operations and we remain very focussed on ensuring that we generate further value for shareholders from our valuable assets," says Bigblu .

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Mineral & Financial Investments Ltd - Cayman Islands-based investment company specialising in junior mining companies - Posts net asset value per share at December 31 of 16.1 pence, up 5.9% from 15.2p a year prior. Net asset value increases to GBP5.7 million from GBP5.4 million the year before. Pretax profit for the six months to December 31 falls to GBP218,000 from GBP247,000. Says NAV growth was negatively affected by a "corrective phase in precious metal prices and continued strength of the GBP versus the USD in the period".

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By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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24 May 2023 15:42

IN BRIEF: Mineral & Financial raises GBP250,000 via new shares placing

Mineral & Financial Investments Ltd - Cayman Islands-based investment company focused on natural resources sector - Places 1.2 million shares at 1.0 pence each at a placing price of 21.0p per share. Net funds will be used for investment opportunities the company is reviewing. The company has issued 250,000 shares to Novum Securities Ltd in settlement of historic broking retainers fees.

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3 May 2023 11:37

IN BRIEF: Mineral & Financial notes positive results at Portugal site

Mineral & Financial Investments Ltd - Cayman Islands-based investment company focused on the natural resources sector - Notes investment update from Redcorp Empreedimentos Mineiros Lda with metallurgical test results as part of wider ongoing tests to be included in a feasibility study for the Venda Nova deposit at the Lagoa Salgada project in Portugal. The feasibility study is targeted for completion this month.

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28 Apr 2023 19:38

TRADING UPDATES: Mineral & Financial buys stake in Mexican mining firm

(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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30 Mar 2023 18:39

EARNINGS UPDATES: Ironveld sees interim pretax loss widen on costs

(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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3 Mar 2023 15:45

UK shareholder meetings calendar - next 7 days

Monday 6 March 
Gfinity PLCGM re fundraising
Logistics Development Group PLCGM re capital reduction, change of investing policy and share buyback
Tuesday 7 March 
Blackrock Income & Growth Investment Trust PLCAGM
Edinburgh Worldwide Investment Trust PLCAGM
JPMorgan Emerging Europe, Middle East & Africa Securities PLCAGM
Wednesday 8 March 
Amigo Holdings PLCGM re the company's capital position
boohoo Group PLCGM re adoption of the Growth Plan
Creo Medical Group PLCGM re open offer shares
Globalworth Real Estate Investments LtdEGM re grant options and script dividends
Jersey Electricity PLCAGM
Thursday 9 March 
CT Capital & Income Investment Trust PLCAGM
Shoe Zone PLCAGM
WAG Payment Solutions PLCGM re proposed acquisition of Inelo
Friday 10 March 
Atrato Onsite Energy PLCAGM
Malin Corp PLCAGM
Mineral & Financial Investments LtdAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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15 Feb 2023 21:31

Mineral & Financial's Golden Sun strikes deal to boost BellaVista

(Alliance News) - Mineral & Financial Investments Ltd on Wednesday said its investee Golden Sun Resources Ltd has closed a streaming financing package worth USD10 million.

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9 Feb 2023 14:23

Mineral & Financial says second drill rig mobilised at Lagoa Salgada

(Alliance News) - Mineral & Financial Investments Ltd on Thursday said 50% owned Redcorp Empreendimentos Mineiros Lda has mobilised a second drill rig to begin drilling at the Lagoa Salgada project, Portugal.

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3 Feb 2023 15:17

TRADING UPDATES: GCP Infra hails NAV rise; Jadestone profits from oil

(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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23 Dec 2022 14:28

Mineral & Financial annual profit drops as administrative costs jump

(Alliance News) - Mineral & Financial Investments Ltd on Friday said its profit declined in its recent financial year, as expenses increased.

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9 Dec 2022 10:55

Mineral & Financial subsidiary secures cash investment for asset

(Alliance News) - Mineral & Financial Investments Ltd on Friday said its subsidiary has received a cash payment from Ascendant Resources Inc, in the first of two instalments related to its Portuguese mining investment.

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5 Dec 2022 14:33

IN BRIEF: Mineral & Financial notes Redcorp's Venda Nova finds

Mineral & Financial Investments Ltd - Investor in natural resources sector - Announces exploration results from investee Redcorp Empreedimentos Mineiros Lda, an operator of an exploration & development company, engaged in Lagoa Salgada project in Portugal.

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2 Dec 2022 19:33

TRADING UPDATES: Time Out eyes Riyadh; MTI Wireless wins deal

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

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28 Nov 2022 12:38

Mineral & Financial shares surge on funding for Lagoa Salgada project

(Alliance News) - Mineral & Financial Investments Ltd on Monday noted developments in the financing package for the Lagoa Salgada VMS project in Portugal.

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10 Nov 2022 15:52

TRADING UPDATES: Vertu Motors sizes up acquisition; Ondo's Hiscox deal

(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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14 Sep 2022 16:06

IN BRIEF: Mineral & Financial's Ideon stake valued at CAD1.4 million

Mineral & Financial Investments Ltd - Cayman Islands-based investment company - Announces that portfolio firm Ideon has received USD15 million equity investment from Silicon Valley venture capital firm Playground Global. Playground will own 20% of Ideon. The value of Ideon, M&F notes, has increased more than nine times in two years. Based on this financing, M&F's 1.4% stake will be valued at CAD1.4 million.

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