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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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Zotefoams PLC - closed-cell crosslinked polyolefin foams manufacturer - Reports "record" third quarter sales performance, with revenue 22% ahead of a year ago. This reflects "very strong" contributions from both personal protective equipment and footwear products. "While the large PPE programme runs down through the latter part of 2020, the strong momentum in footwear and T-FIT insulation products, together with early indications of demand recovery in a number of our markets, supports the board's continued expectation of strong year-on-year sales growth in Q4," Zotefoams says. Expects full-year revenue and underlying pretax profit in line with market expectations.
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IQ-AI Ltd - medical software company with headquarters in Jersey - Subsidiary Imaging Biometrics LLC says the Montgomery Cancer Center in the US has purchased IB Clinic. The installation of IB Clinic includes the IB Neuro and IB Delta T1 mapping algorithms. "The Montgomery Cancer Center, one of the largest freestanding centers in the USA, will now be able to automatically generate quantitative parameters using IB's standardised brain tumour imaging protocol for the benefit of patients," says IQ-AI.
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Gunsynd PLC - London-based investment firm - Invests further AUD100,000, around GBP54,700, in Australian gold and base metals exploration company Rincon Resources Pty Ltd via a convertible loan. Rincon has lodged a prospectus with Australian Securities & Investments Commission for an initial public offering to raise a minimum of AUD5 million, targeted for early December. "Gunsynd is pleased to continue to add to its existing investment in Rincon Resources. Rincon has what we believe to be a very exciting portfolio of copper/gold projects - particularly the South Telfer project in the Paterson region of Western Australia," says Director Peter Ruse.
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Feedback PLC - London-based medical imaging technology company - Reports "busy" start to current year, and says focus is on further growing Bleepa's market base and creating a "strong platform" for revenue growth. Cash position remains strong at GBP4.4 million on September 30, with company fully funded to execute its growth strategy for the current financial year "and beyond". "The board is confident in its ability to deliver on the planned growth, with increased routes to market expected to create strong future revenue streams," Feedback says.
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PCI-PAL PLC - secure payment solutions provider - Says first quarter revenue 44% ahead of the same period a year ago, with revenue visibility against current market forecasts for the year ending June 30 now at 88%. "We have been very pleased with the progress that the business has made at the start of this new financial year as we continue to close the gap towards our first months of cash generation and profitability. We look forward to delivering another year of substantial revenue growth and continued execution against our current plan," says PCI-PAL.
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N4 Pharma PLC - London-headquartered pharmaceutical company developing Nuvec vaccine and cancer treatment delivery system - Says optimisation work is "progressing well", and company has successfully developed different options to make a fully monodispersed formulation of Nuvec loaded with plasmid DNA. Adds that the plan for the unoptimised Nuvec in vivo study to compare the reactions of Nuvec loaded with the coronavirus plasmid and another generic plasmid in generating relevant antibodies has now been finalised and the study will commence shortly. "Taken together with the work into oral applications and the ongoing technology transfer for the manufacture of Nuvec, we are entering a pivotal time for the company over the next six months and I look forward to providing further updates as each work stream progresses," says Chief Executive Nigel Theobald.
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Nostra Terra Oil & Gas Co PLC - AIM-listed company focused on the prolific Permian Basin in West Texas - Cypress Minerals LLC receives drilling permit in preparation to drill the new well at the company's Pine Mills oil field, US. Drilling is permitted to a total depth of 6,000 feet and is estimated to take around 10 days. The primary target formation is the prolific Woodbine Sand, and the well will also evaluate other known overburden formations.
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GCP Student Living PLC - UK-focused student accommodation provider - EPRA net asset value per share 171.71 pence at September 30, representing quarterly decrease of 0.07p. At 30 September, the valuation of the company's portfolio was GBP1.01 billion, representing a like-for-like increase over the quarter of 0.7%. "The company's rental income for the financial year ended 30 June 2021 is being materially adversely impacted as a result of the disruption caused by the Covid-19 pandemic. Noting this impact on the company's revenues, the ongoing uncertainties relating to the Covid-19 pandemic and a desire to manage the business in a prudent and conservative manner, the directors have decided to announce a first interim dividend of 0.25 pence," says GCP.
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Hansard Global PLC - financial services business operating out of the Isle of Man - Says new business for the quarter to September 30 was GBP34.2 million in present value of new business premiums terms, down 4.5% on a year ago. Assets under administration GBP1.1 billion, up 1.8% from June 30. "While we are confident our new business will continue to be resilient in the face of Covid-19 challenges, we expect it to continue to lag behind the levels achieved last year," says Chief Executive Gordon Marr.
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DWF Group PLC - Manchester-based law firm - Says revenue growth in year-to-date "more than" 14%, as activity levels improve to pre-pandemic levels. Says underlying adjusted pretax profit "close to" the GBP13.8 million achieved in the full 2020 financial year. "We have seen a very pleasing recovery in activity levels since the dip caused by COVID-19 in Q4 of FY20. We have prioritised organic growth, acquisition integration and operational efficiency and this focus, combined with our cost reduction measures, has delivered strong profit improvement for the group," says Chief Executive Nigel Knowles. Firm "cautiously optimistic" on the second half.
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Anglo Pacific Group PLC - natural resources royalties business based in London - Says total portfolio contribution GBP6.4 million in the third quarter a slight dip from GBP6.5 million in the second quarter. Decrease largely driven by lower volumes at Kestrel following a longwall changeout, which is not expected to reoccur until the third quarter of 2021. Production is expected to increase at Kestrel in the fourth quarter after a record longwall change-out. "We were encouraged by the operating performance of the royalty portfolio during Q3 2020 which continue to function without material Covid-19 disruption. The actions taken by the underlying operators suggests that we could see a stronger finish to the year across the portfolio at a time when certain commodity prices are showing signs of improvement," says Chief Executive Julian Treger.
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Jardine Matheson Holdings Ltd - Hong Kong-headquartered holding company with interests in retail, property, hotels and motor dealerships - Continued to face "challenging trading conditions" in third quarter due to Covid-19, though notes "some improvement" in performance across many of its businesses compared to the second quarter. Underlying net profit declined year-on-year in the third quarter, and performance is expected to "remain weak" for the remainder of the year. "The group is, nonetheless, resilient and well-positioned to achieve its long-term growth objectives, and its balance sheet and liquidity position remain strong," says Jardine.
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Triple Point Social Housing REIT PLC - London-based real estate investment trust - Says net asset value at September 30 106.12p per share, up 0.7% from June 30. "The group's ongoing receipt of rents remains timely, unaffected by Covid-19, and in line with expectations and prior year experience. As such 100% of rent due for Q3 2020 has been received," says Triple Point.
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Argo Blockchain PLC - UK-based cryptocurrency miner - Mines 126 Bitcoin or Bitcoin Equivalent in October, broadly flat on 127 Bitcoin Equivalent in September. Mining revenue in October amounted to GBP1.2 million, versus GBP1.1 in September. Separately says it has entered into an equipment lease with Celsius Network for 4,500 Bitmain Antminer S19 and S19 pro miners for a two year term. The new mining hardware is expected to be fully operational by February 2021. Also says the machines will be hosted by Core Scientific. "We are delighted to partner with Celsius and Core Scientific as we pursue our growth plans. These agreements allow us to secure very competitive terms on both new mining equipment and hosting costs. Argo continues to successfully expand its mining capacity while simultaneously improving mining margins and is in a strong position to benefit from the amelioration in market conditions," says Argo Chief Executive Peter Wall.
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UK Oil & Gas PLC - oil and gas exploration company - Says surface-based intervention operations at its 85.6% owned Horse Hill-1 well have now been completed. Well has been shut in for a long term pressure build up test. Alba Mineral Resources PLC holds an 11.8% interest in the Horse Hill oil project, comprising licences PEDL137 and PEDL246.
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H&T Group PLC - Surrey, England-based pawnbroker - Says operations fully remain open for business, providing a full range of 'essential' financial services. The 253-strong store estate will remain open for customers during the November lockdown period. Pawnbroking customers continue to repay their loans and at normal pledge redemption rates, says H&T. Adds that retail sales have been strong, and the high gold price has also driven increased gross profit from both pawnbroking and gold purchasing activities. "These strong performances have more than offset weakness in the Group's foreign currency business as a result of reduced international leisure travel," says H&T.
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By Lucy Heming;Â lucyheming@alliancenews.com
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