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(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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Maintel Holdings PLC - London-based cloud and managed service specialist - Anticipates that revenue for the second half of 2022 will be broadly in line with the first half, leading to revenue of roughly GBP91 million. Notes that adjusted earnings before interest, tax, amortisation and depreciation have been negatively affected by unexpected inflation costs and will amount to over GBP4 million. Notes that it builds a total sales order backlog exceeding GBP45 million of orders. "As the pandemic subsides, continuing global hardware supply chain disruptions and inflationary pressures have impacted 2022 performance despite resilient customer demand as evidenced by the sales order backlog standing at an all time high, guaranteeing increased revenue in 2023 and beyond," Chief Executive Ioan MacRae says.
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Future Metals NL - Perth-based platinum exploration company - Completes detailed gravity and magnetics modelling on its Panton PGM-Nickel project in Australia. Says that the diamond drilling intersected near-surface, magmatic sulphide mineralisation. Completes six diamond drill holes completed during the quarter as part of its ongoing drill programme with every hole intersecting sulphide mineralisation. "Further, geophysical work and reconnaissance drilling have identified a new target zone in the south, which is a very exciting development, demonstrating the potential scale of mineralised systems at Panton. We look forward to providing an update on the company's progress across metallurgical test work, scoping study activities, and exploration results in the coming weeks," Managing Director & CEO Jardee Kininmonth comments.
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Arecor Therapeutics PLC - Essex, England-based biopharmaceutical company - Says that its performance in 2022 was in line with market expectations. Closes the year with an unaudited cash balance of GBP12.8 million. Continues to execute its partnering strategy with major pharmaceutical and biotech companies. Expects the clinical trial of its ultra-rapid-acting insulin candidate, AT247 to be completed within the fourth quarter of 2023. "We have once again seen significant progress across our internal portfolio of proprietary products and within our partnered programmes, which truly reflects the strength and broad applicability of our formulation technology. In addition, our recently acquired subsidiary, Tetris Pharma, is successfully executing the European roll out of its lead product, Ogluo. We look forward to further delivery of our strategy in 2023 and will update the market further in our preliminary results," CEO Sarah Howell says.
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By Abby Amoakuh, Alliance News reporter
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