(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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Mobile Streams PLC - London-based mobile content provider - Wins "major strategic partnership contract" with International Gaming Systems. Says pact will "deliver significant revenue to the company". Company tips monthly revenue across all services to top USD120,000 in January. "The revenue share contract with IGS will see IGS's gaming and entertainment services launched and made available globally via the MOS website mobilegaming.com and via MOS telco contracts when ready," Mobile Streams says.
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East Imperial PLC - London-based premium mixers maker - To raise GBP3.4 million "to support the company's intentions to accelerate its expansion". Says 32.4 million shares to be placed at 10.5 pence each. In addition, company says 2021 revenue jumped 60% and returned to pre-virus levels. "Importantly, the company also benefited from a more diversified revenue stream in 2021 following strong progress implementing a multi-channel strategy. The board is confident of delivering further progress this year, both on-trade and off-trade, and in particular through further geographic expansion in the US and other key markets," East Imperial adds.
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Bakkavor Group PLC - London-based fresh prepared food company - Says revenue in year to December 25 grew and margins were "ahead of expectations despite persisting industry challenges". Revenue in full year up 4.4%, or 6.2% like-for-like. "Operating margin is expected to be ahead of previous guidance and at the top end of the range of current market expectations of 5.0%-5.2%," Bakkavor adds.
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Infrastructure India PLC - Investor in infrastructure assets in India's energy and transport sectors - Agrees deal with some creditors to withhold demanding payment for invoices due in January until at least March. In December, company warned it did not have enough cash reserves to meet creditors as they fall due beyond January. "The payment extension provides the company with cash runway to the end of February 2022 to source the funding required to ensure the group has adequate funding to continue to meet liabilities as they fall due," company says. Adds: "To realise funds within the short term, management continues its advanced discussions with regard to the sale of IEL. The group has received a Letter of Intent signed by a third party with respect to the sale of IEL and documentation is currently being negotiated."
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Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Says 2021 output within guidance, at 64,610 gold equivalent ounces, down from 67,249 in 2020. Chief Executive Reza Vaziri says: "This was achieved despite the logistical difficulties and other disruption due to the COVID-19 pandemic in the first half of the year." CEO adds: "It has been an exciting year for the Company. We are developing new opportunities to grow both in Azerbaijan and abroad, with the three additional contract areas in Azerbaijan, and our recent strategic investment in Libero Copper & Gold Corporation."
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MJ Hudson Group PLC - asset management consultancy - Wins "multi-year" contract to advise the ACCESS local government pension scheme on illiquid and private markets investments. MJ Hudson adds: "This is expected to be a multi-million pound contract, over the next seven years."
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Johnson Service Group PLC - Cheshire, England-based textile services - Says volumes in November and December in line with pre-Covid levels for Workwear segment. In HORECA, which refers to food service and hotel industries, volumes were at 77% of normal times. "However, the challenges of the new COVID-19 variant on the hospitality sector in the final two weeks of December reduced volumes during that period to approximately 60% of normal. Notwithstanding this, we expect to announce 2021 full year results ahead of the expectations referred to in our Trading Update published on 24 November 2021," Johnson Service adds. "Current COVID case rates have continued to impact demand at the start of 2022 in HORECA but we continue to anticipate further recovery of the hospitality sector as we progress through 2022."
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Allergy Therapeutics PLC - Sussex-based biotechnology firm focused on allergy vaccines - Says revenue in six months to December 31 to fall 10% to GBP48.7 million from GBP54.0 million. "Reported revenue for the year is likely to be down on the 2021 financial year by an upper single digit percentage, but through planned cost reductions in the second half of the year, the board remains confident that market consensus for the operating profit pre R&D this financial year will be achieved," Allergy Therapeutics says. Submits investigational new drug application for VLP Peanut to US Food & Drug Administration.
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Intelligent Ultrasound Group PLC - Cardiff, Wales-based artificial intelligence ultrasound software firm - Expects revenue for 2021 to have risen 47% to GBP7.6 million from GBP5.2 million in 2020. "The group remains confident that the expected increase in face-to-face medical exhibitions and congresses, that are fundamental to the launch process of the group's new products, and the continued roll-out of ScanNav Assist and PNB will accelerate AI revenue growth in 2022," company adds. Expects operating loss between GBP4.2 million and GBP4.4 million, narrowing from GBP4.5 million in 2020.
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Polar Capital Holdings PLC - asset manager - Says assets under management in nine months to December 31 rise 16% to GBP24.31 billion from GBP20.86 million at end of March. Net subscriptions amount to GBP806 million, while market movements add GBP2.64 billion.
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By Eric Cunha; ericcunha@alliancenews.com
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