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Pin to quick picksPetro Matad Share News (MATD)

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TRADING UPDATES: Strong interim results from Epwin, Bridgepoint

Wed, 15th Sep 2021 17:32

(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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Epwin Group PLC - Solihull, England-based building products manufacturer - For the six months ended June 30, pretax profit was GBP6.6 million, swinging from a loss of GBP4.8 million a year before, but falling short of GBP6.7 million posted in the first half of 2019. This was on revenue which grew 69% year-on-year to GBP157.8 million from GBP93.3 million, beating pre-pandemic levels of GBP140.0 million as well, due to higher new product sales, higher RMI demand. Resumes dividend payout at 1.75 pence per share. Looking ahead, expects customer demand to remain strong in second half, but supply chains to remain under pressure and raw material costs to stay high.

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Bridgepoint Group PLC - asset fund management firm - For the six months ended June 30, pretax profit more than doubles to GBP40.4 million from GBP16.9 million, on revenue which grows 55% year-on-year to GBP122.2 million from GBP78.7 million, driven by higher management fees and investment profits through a strong fund performance. As at June 30, total assets under management increased to EUR28.5 billion from EUR18.5 billion, due to the acquisition of EQT Credit and the launch of BDC IV.

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Baker Steel Resources Trust Ltd - Guernsey-incorporated firm investing in equities, loans or related instruments of natural resources companies - Net asset value per share increases 2.7% to 99.8 pence at June 30 from 97.2p at the end of December 2020, as base metal and iron ore companies remain strong on robust demand for products. The EMIX Global Mining Index in sterling terms were up 11.4% over the same period.

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Clontarf Energy PLC - oil & gas exploration and production company focused on South America and Africa - For the first half of 2021, pretax loss narrows to GBP137,000 from GBP146,000 on lower administrative costs. Period includes continued negotiations with Ghanian authorities over the petroleum agreement on Tano 2A block, and in Chad on the prime sedimentary basin close to pipeline infrastructure, leading to a signed agreement.

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BioPharma Credit PLC - Exeter-based life sciences debt investment trust - Net asset value per share at June 30 is USD0.9980, down from USD1.0037 at the end of December, while for the six month period, income dipped to USD58 million from USD59 million a year before. "The Investment Manager continues to develop a pipeline of additional potential investments and, as a consequence, we expect to be evaluating a number of potential alternatives to fund future growth and further diversify our portfolio," said Chair Harry Hyman.

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The Investment Company PLC - investment trust - As at June 30, net asset value rises 8.3% to 341.19 pence from 315.11p the same date a year before, while the share price is 309.00p, reflecting a 9.4% discount to NAV. Declares dividend of 3.00 pence per share, down % from 12.25p the prior year.

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Trinity Exploration & Production PLC - oil assets in Trinidad and Tobago - For the first half of 2021, swings to pretax loss of USD128,000 from profit of USD942,000 a year prior, due to a rise in operating expenses to USD27.5 million from higher royalty costs and impairments on financial assets. Operating revenue for the six month period grew 43% year-on-year to USD30.7 million from USD21.5 million, driven by a 54% rise in the average realised oil price at USD55.9 per barrel more than offsetting an 8% drop in net production to 3,032 barrels of oil per day.

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Central Asia Metals PLC - copper, zinc and lead explorer operating in Kazakhstan and North Macedonia - For the first half of 2021, pretax profit rises 72% to USD41.8 million from USD24.3 million, on revenue which grew 41% year-on-year to USD106.3 million from USD75.4 million, due to favourable market conditions driven by increased prices for copper, zinc and lead on higher demand. Declares interim dividend of 8.0 pence per share, up from 6.0p a year prior. Looking ahead, expects Sasa mine in Macedonia's zinc output to be between 23,000 and 25,000 tonnes, while lead production at 30,000 tonnes and 32,000 tonnes. Meanwhile, Kounrad guidance for copper output is between 12,500 tonnes and 13,500 tonnes.

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Trackwise Designs PLC - Tewkesbury, Gloucestershire-based products using printed circuit technology - For the six months ended June 30, swings to pretax loss of GBP611,000 from profit of GBP788,000, due to higher administrative costs and one-off expenses from the set up of a new production site. Revenue grew 70% year-on-year to GBP4.1 million from GBP2.4 million due to a full contribution from recent acquisition Stevenage Circuits. Looking ahead, despite supply constraints Trackwise expects to perform in line with expectations for 2021.

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Petro Matad Ltd - Mongolia-based oil exploration company - For the six months ended June, pretax loss narrows to USD1.0 million from USD2.4 million due to lower exploration and employee expenses. Post-period, the Block XX exploitation licence was granted for a 25-year period, totalling 218 square kilometres and covering the entire Heron structure. Procurement processes for the 2022 operational programme are well underway.

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Honeycomb Investment Trust PLC - asset secured loans investor - As at June 30, net asset value rises to 1,017.0 pence from 1,016.4p the same date a year before, while for the six month-period, it reports total return of 8.7%, improved from 8.2%.

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Ross Group PLC - London-based supply chain management and distribution company - For the six months ended June 30, pretax loss narrows to GBP267,000 from GBP830,000 a year before, while generating no revenue for the period. Company continues to research and explore supply chain management opportunities, while existing Chitin investment continues to progress towards eventual mass production.

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Grafenia PLC - Manchester-based printing business - Since announcing its final results, trading has continued to improve, with the company's highest sales in August since November 2019. For the first five months of its current financial year, total revenue was 20% higher year-on-year. Looking ahead, remains focused on mid-term target of 10% to 15% earnings before interest, taxes, depreciation and amortisation.

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Panoply Holdings PLC - London-based technology company - For the first five months ended September 1, wins GBP50 million in new contracts, compared to GBP18 million the year before. As a result, company raises guidance for like-for-like revenue growth for current financial year to 15% - 20% from 10% to 15%, and revenue to come in at GBP77 million.

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Restore PLC - Redhill, England-based document management, commercial relocation and IT recycling business - For the eight months ended August 31, run rate level of revenue stands at GBP254 million, with run rate Ebitda at GBP74 million. Strong trading in July and August has allowed for continued momentum, fostering confidence in a strong second half performance in line with expectations. In addition, confirms that Non-Executive Director Sharon Baylay will succeed Martin Towers as chair with effect on October 1.

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Omega Diagnostics Group PLC - medical diagnostics company - Sees Health & Nutrition division with early signs of recovery towards pre-pandemic revenue levels, on opportunities in China and the US. For the Global Health division, remains optimistic on the long-term prospects for the rollout of Visitect CD4 advanced disease test. Remains confident in market potential for product reaching 4 million to 6 million test a year, reflecting the chance to generate GBP12 million to GBP18 million in annualised revenue.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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7 May 2014 13:10

UK MIDDAY BRIEFING: HSBC Profit Slides, Sainsbury Holding Out

LONDON (Alliance News) - HSBC Holdings Wednesday reported a 20% drop in first-quarter pretax profit, driven by a weak performance Asia, Latin America and its investment bank, that was only partially offset by lower impairment charges and continued cost cutting.

In a

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7 May 2014 12:07

UK WINNERS & LOSERS: Legal & General Leads On Confidence In Annuities

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
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FTSE 100 - WINNERS
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Legal & General Group, up 3.2%. The group said it expects to write more

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7 May 2014 10:57

Petro Matad Confirms Oil Prospects But Farm-Out Talks Drag On

LONDON (Alliance News) - Petro Matad Ltd Wednesday said its 2D seismic studies in Mongolia have confirmed some oil prospects, but its shares fell 28% as it said it continues to search for development partners in the region, leading it to focus on cash preservation. The oil exploration compa

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21 Nov 2013 11:35

Petro Matad Say 2D Seismic Study Acquisition Completed In Mongolia

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21 Nov 2013 07:59

AIM IN BRIEF: M&C Saatchi Confirms Talks With Publicis On Walker Media

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6 Nov 2013 12:28

Petro Matad Says 2D Seismic Studies Have Started In Mongolia

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23 Sep 2013 08:28

Petro Matad Loss Narrows As Exploration Costs Fall

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16 Sep 2013 13:05

Petro Matad Awards Contract For Seismic Data to Khet Co. Limited

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20 Jun 2013 08:43

Thursday broker round-up UPDATE

Ashtead Group: Jefferies takes target price from 690p to 750p and leaves its buy recommendation unchanged. ASOS: Deutsche Bank increases target price from 3300p to 3800p and reiterates a hold recommendation. Atkins: Liberum Capital takes target price from 1020p to 1100p and maintains a buy recomme

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11 Mar 2013 07:23

Monday broker round-up UPDATE

Admiral Group: Berenberg ups target price from 1000p to 1060p, but still recommends selling. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite Group: Invetsec downgrades from buy to hold with a target price of 157p. Aviva: Citigroup reduc

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25 Jan 2013 10:23

Petro Matad to issue half a million ordinary shares

Petro Matad has announced that it will issue 500,000 ordinary shares of 0.01 dollars each under the company's long-term equity incentive plan. The new shares are to be issued at a nominal value, the group stated adding that an application had been made for the new shares to be admitted to AIM with

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20 Dec 2012 10:37

Petro Matad publishes operational update for Mongolian mines

AIM-listed mining company Petro Matad has published an operational update on three PSC licenses that it holds in Mongolia. Hydrocarbon generating potential The company reported that nine major sub-basins had been identified in areas defined as "Blocks IV" and "Block V" and further high-graded for

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25 May 2012 15:54

Resources round-up: Petro Matad, Kryso, Lansdowne Oil and Gas

Petro Matad has revealed that a review of its site in Mongolia indicates that the company should refine the work completed to date to produce drill and seismic targets, prompting it to suspend drilling and testing for the rest of the calendar year to complete the suggested changes. Some of the seism

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9 Sep 2011 16:55

London close: Stocks dive on euro worries

The volatility continued heading into the weekend and stocks were nursing hefty losses at the close of play. The resignation of European Central Bank official Juergen Stark brought the Eurozone crisis into focus. Stark, a German, like many of his compatriots is unhappy about the Bank's policy of b

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9 Sep 2011 12:36

Petro Matad abandons well

Oil explorer Petrod Matad has terminated production at its Davsan Tolgoi-10 well after failing to encounter moveable hydocarbons. The project, situated between the group's Shoroo and Gal prospects, targeted two objectives, but no shows were observed in either, while analysis of the area indicates

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