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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Zambeef Products PLC - Zambia-focused cold chain foods and retail business - Generates pretax profit for the year ended September 30 of ZMW204.0 million, or around USD9.7 million, swinging from a ZMW22.7 loss the year before. Revenue is up 28% at ZMW4.97 billion from ZMW3.88 billion the prior year. Attributes "sustained consumer demand" for products for the positive trading performance. Notes an inflationary environment, with management continuing to focus on cost control measures which ensured administration and distribution expenses were contained within inflationary levels and only increased by 20%. "Despite the rising input costs and rising global food prices, and a difficult operating environment resulting from the 2020 economic and Covid-19 pandemic related uncertainties, the positive full year performance has been driven by sustained consumer demand for our products and cost reductions and efficiency improvements especially in the poultry business. The macroeconomic fundamentals remained relatively stable during the financial year in the context of the previous comparative year," explains Chief Executive Walter Roodt.
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Altitude Group PLC - Sheffield-based firm operating a marketplace for personalised products - Revenue for half-year to September 30 rises 33% to GBP5.9 million from GBP4.4 million year-on-year, leading to narrowed pretax loss of GBP414,000 from GBP1.3 million. Notes investments have helped to grow US service revenue by 34% in the period to GBP2.2 million and overall service revenue by 26% to GBP2.8 million. The Sheffield-based firm says it continues to trade positively and current performance is in line with internal expectations. "With ongoing investment in growth, strong focus on core business development and sustained recovery the board is optimistic and expects continued profitability in the full year," says Chief Executive Nichole Stella.
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ReNeuron Group PLC - Bridgend, Wales-based exosome therapeutics company - Narrows pretax loss for the first half ended September 30 to GBP6.0 million from GBP8.0 million year before, boosted by reduced costs incurred in the period. Revenue inches up to GBP58,000 from GBP41,000 year prior. Notes early data from the company's programme in retinitis pigmentosa, is expected in late first quarter 2022 and following analysis of data, the company will decide on the next steps to progress the programme to the next stage. Chief Executive Olav Hellebo says: "Exosomes are becoming an increasingly exciting method for delivering payloads into patients and we are therefore optimistic that we can increase the number of partnerships in this area while continuing to progress our current collaborations toward the clinic. We feel we are in the right place, at the right time, with the right technology to be a leader in exosomes."
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Watchstone Group PLC - cash shell with remaining assets comprising litigation assets, contingent liabilities and cash - Files GBP13.7 million claim against KPMG for the financial services behemoth's audit of Watchstone. The claim relates to an unqualified audit report in respect of the 2013 audit made by KPMG and a subsequent GBP4.5 million fine made by the Financial Reporting Council after an investigation by the watchdog. Watchstone says it suffered a loss in the sum of GBP13.7 million which it now claims in damages from KPMG for its failings.
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Fulcrum Utility Services Ltd - Sheffield-based utility infrastructure and services - Announces it is progressing well with sale of domestic customer gas connection assets and associated meters to ES Pipelines Ltd. Fulcrum has now completed the transfer of the fourth tranche of the assets to ESP for GBP2.8 million. Cash of GBP2.7 million was received on Tuesday with the remainder expected to be received on May 31. The total consideration receivable by Fulcrum is expected to be around GBP49 million.
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Nanoco Group PLC - Manchester-based quantum dots developer - Reports first quarter trading in line with internal expectations. "We continue to deliver R&D services under a number of contracted development programmes with different customers in the sensing market, which include the additional work package for our European customer announced on 5 November. Good progress has been made on these projects during the period and discussions on potential next steps are underway," company says.
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Silver Bullet Data Services Group PLC - London-based marketing services firm - Signs contract for its 4D product with Paris-based consulting group CoSpirit Mediatrack. 4D will now be the preferred partner for CoSpirit in relation to "contextual solutions, supporting its clients' migration from the utilisation of third-party cookies to first-party-driven data contextual insights and targeting", Silver Bullet highlights. Chief Executive Ian James states: "As part of our drive for the continued integration of our 4D solution with media agency platforms, we are delighted to be partnering with one of the best and fastest growing media agencies in France, an ideal partner for the application of our 4D product".
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Sensyne Health PLC - Oxford-based healthcare technology company - Agrees settlement terms with the London Stock Exchange for a public censure and fine of GBP580,000, discounted to GBP406,000 for early settlement. The fine relates to historical breaches of AIM rules in relation to the payment of certain IPO bonuses in 2018.
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Northcoders Group PLC - Manchester, England-based training programmes provider - Signs contract for a new training hub in Newcastle in line with its national expansion plans. The new site is part of the innovation hub TusPark, Barclays Eagle Labs, Newcastle. Chief Executive Chris Hill comments: "The TusPark site is a well-regarded centre of innovation and excellence in the north of England and we are excited to be part of this new and growing community."
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Nanosynth Group PLC - digital monitoring and safeguarding systems manufacturer - In strategy update, says it is now focused on the development of its nanomaterials technology around Pharm2Farm. Is considering relocating operations in 2022 to new UK facility that may include a scalable state-of-the-art production facility for nanomaterials. Says anti-viral technology remains a key area of focus and it is establishing network of distributors to supply masks and other products which include this technology. "A thorough assessment of the company's in-house technology and R&D pipeline has identified eight market sectors where we can either manufacture products ourselves or work in partnerships where the partners' IP, manufacturing capability, routes to market or other capabilities can be enhanced using our in-house skills or technology," company states.
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Ideagen PLC - information management, safety, risk and compliance software provider - Outlines new targets for next three years. Targetting recurring revenue of GBP200 million by April 2025 and 15% year-on-year organic growth. "Twelve years of profitable growth, underpinned by our talented team and strong working culture, give us confidence that we can accelerate our growth and achieve the target GBP200 million ARR by April 2025. We look forward to building on our achievements to date and delivering against our ambitious medium-term targets," comments Chief Executive Ben Dorks.
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MGC Pharmaceuticals Ltd - Perth, Australia-based bio-pharmaceutical company - Completes GBP5.5 million share placement with "strong support from UK institutional investors and a US based fund". The shares will be issued at a price of 2 pence each, representing a 13% discount from the closing price on 29 November, being the last practicable trading day. The shares will represent approximately 10% of shares in issue.
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Goldstone Resources Ltd - gold explorer in West Africa - Completes first commercial gold pour at the Homase Mine in the Ashanti Gold Belt in Ghana. The production now enables the company to meet interest payment for the USD3 million secured gold loan with Asia Investments Management Services. "Now that we have managed to successfully complete the transition into a gold producer, we will focus our efforts on ramping up the project to full operations as efficiently as possible, by continuing ramp-up of stacking to the Heap Leach and optimisation of the processing plant," comments Chief Executive Emma Priestley.
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Octopus Renewables Infrastructure Trust PLC - UK-based closed-ended investor in renewable energy assets - Enters 10-year power purchase agreement for Ljungbyholm Wind Farm in Sweden. Notes the unnamed counterparty is a "global manufacturer with a multi-billion dollar valuation". The contract provides Ljungbyholm with a 10-year floor price for all of its production each year, and will provide the offtaker with green electricity for its operations in Sweden as part of its ambitions to switch to 100% renewable electricity by 2030.
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Condor Gold PLC - mine developer in Nicaragua - Completes drilling for feasibility study at La India gold project in Nicaragua. Analysis of rock mass units on core samples is underway, Condor highlights. "A combined 32 geotechnical drill holes for 3,251.50 metres has been completed on La India open pit providing sufficient data for FS level design pit angles for the pit over the life of mine," company says.
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Bezant Resources PLC- copper-gold exploration and development company - Mobilises rig to drill and test several targets near Hope and Gorob copper-gold deposits in Namibia. Also commences work in preparation for a mining licence application over the Hope-Gorob copper-gold project area, Bezant states. Executive Chair Colin Bird comments: "We consider Namibia a very supportive jurisdiction and we are doing all necessary to progress plans for a mining application at Hope-Gorob. We are excited about the planned drilling programme - we have an already established resource and the geophysics suggests the potential to mirror that resource. A drill rig is on site and we look forward to reporting on progress as the programme advances."
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By Will Paige; willpaige@alliancenews.com
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