(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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Team17 Group PLC - Nottingham-based video game development company - Announces EUR100 million, around GBP83 million, acquisition of developer, publisher and distributor of simulation games astragon Entertainment GmbH. To pay initial EUR75 million, with further EUR25 million payable in cash on earnings performance targets for 2021 and 2022. Announces placing to raise GBP80 million. Acquisition to be funded with placing proceeds. Placing shares will not exceed 8% of current issued share capital. Placing will be conducted through an accelerated bookbuilding process to new and existing eligible institutional investors. Acquisition is expected to complete mid-January.
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Quixant PLC - Cambridge, England-based technology for gaming and broadcast industries - Expects 2021 revenue of USD87.1 million, ahead of market expectations of between USD78.0 million and USD80.0 million. Expects adjusted profit before tax to be ahead of market expectations, which has it at USD4.9 million. "The robust trading in 2021 and continued supportive trading environment, despite ongoing Covid risks, positions the group well for further growth. Since Q2 2020 the gaming market has generally remained resilient to lockdown restrictions, and customers have demonstrated increasing demand. The group enters 2022 with a strong order book which provides good forward visibility across both divisions," company says. Results are expected on April 5.
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Atalaya Mining PLC - Cyprus-based copper ore company - 2021 copper production rises to 56,139 tonnes from 55,890 tonnes. Targets copper production of 54,000 to 56,000 tonnes in 2022. "We enter 2022 with a proven operational track record, a range of exciting optimisation workstreams and a strengthened portfolio of growth opportunities. We are mindful of current inflationary pressures and while we shall endeavour to keep costs as low as possible, it is not unreasonable to assume that challenges lie ahead, particularly in relation to unprecedented energy costs," Chief Executive Alberto Lavandeira says.
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President Energy PLC - Leeds-based oil & gas company focused on Latin America - Says there have been certain previously unforeseen operational delays relating to the well DP-2003. "The independent review of the electric logs that the company has in its hands strongly supports the prognosis that this will be a successful well and capable of producing at least, if not better than, pre-drill expectations of 250 barrels of oil per day," company says. Adds that DP-2001 well will be first well drilled, with the well expected to start flowing in 14 to 21 days. The workover rig will then move to complete DP-2003.
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Toople PLC - Letchworth Garden City, England-based telecom services - Announces its second new contract win for 2022 as its "business momentum continues to build". New contract is for a period of 36 months with a City of London based family office with a network of international advisers. Does not give value of contract.
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PetroNeft Resources PLC - part-owner and operator of two licences in the west Siberian oil basin - Expands Licence 61 program to seven wells from five, of which six will be on the Lineynoye field and one on the Arbuzovskoye field. The two additional wells added to the program are the two best producing wells at the Lineynoye field. The expected increase in overall production from the seven well program is between 350 and 650 barrels of oil per day. "If successful, this has the potential to result in a significant increase in production and therefore to deliver meaningful returns to the business," CEO David Sturt says.
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Tekmar Group PLC - Darlington-based offshore energy industry services - Nabs USD10 million contract to provide pipeline support and protection materials for a major subsea construction project in the Middle East. Contract anticipated to be delivered in the group's current financial year ending September 30.
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Kenmare Resources PLC - lithium and zircon producer in Mozambique - In 2021, production guidance achieved for ilmenite, primary zircon and concentrates. Sees record annual heavy mineral concentrate production of 1.6 million tonnes, up 30% year-on-year. Ilmenite production up 48% to 1.1 million tonnes. Sees record shipments of finished products of 1.3 million tonnes, up 51% year-on-year. "2021 was a record year for Kenmare in terms of safety, production and sales," Managing Director Michael Carvill notes.
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NB Private Equity Partners Ltd - private equity investment company managed by Neuberger Berman - NAV per share at December 31 comes in at USD30.76, up from USD28.36 on August 31. Records 40.7% total return in 2021. Increases semi-annual dividend 15% to USD0.47 a share.
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Northern Venture Trust PLC - venture capital trust - Says its GBP6.0 million share offer is fully subscribed and ends extra applications.
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Blackrock Income & Growth Investment Trust PLC - invests a diversified portfolio of mainly UK-listed shares, aiming to deliver long-term growth - Net asset value per share at October 31 rises 26% to 203.13 pence from 161.70p a year ago. Net assets increase 19% to GBP43.5 million from GBP36.4 million. Maintains total annual payout of 7.20p per share. "Your board and I are conscious that the results detailed in this report are not as positive as we would wish in that whilst we are reporting a strong absolute return we have trailed our target benchmark," Chair Graeme Proudfoot says.
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Finsbury Food Group PLC - Cardiff-based cake and bread baker - In six months to December 25, total sales rise 8.9% to GBP166.5 million from a year ago. Says growth in sales has been driven by a stable performance in UK retail, a continuation of a robust recovery in Foodservices and a strong performance from the group's Overseas division. Results for the half year are due on February 21.
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Northbridge Industrial Services PLC - Burton-on-Trent-based specialist industrial equipment manufacturer - Says exit from Malaysia and Singapore is now finalised and the exclusive discussions on the sale of the Australian and New Zealand entities are progressing. Company will update in detail within the next few weeks. "Trading in the Crestchic division remains strong and the Tasman division has continued its recovery from the slowdown occasioned by the Covid-19 pandemic. Northbridge performance for 2021 remains in line with management's expectations and a further update on trading will be made in February," company adds.
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Attraqt Group PLC - London-based provider of online search, merchandising and personalisation solutions for e-commerce - Inks further 35 multi-year contract renewals in 2021, on top of 38 secured in 2020. "The fact that the majority of our top 20 customers are now signed up to multi-year contracts demonstrates that our product is living up to our customers' high standards and underpins our confidence that there are significant opportunities for growth," CEO Mark Adams says. Looking ahead, Adams says the company will continue to focus on developing the mid-market segment alongside the integration of its product into partner platforms.
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Blencowe Resources PLC - miner focused on developing the Orom-Cross graphite project in Uganda - Announce the appointment of Australian engineering firm Battery Limits to assist the company in the completion of the Orom-Cross graphite project pre-feasibility study. "We are both pleased and privileged to have a technical partner with the capabilities and experience of Battery Limits helping us to deliver the PFS, due for completion around mid-2022. Our Orom-Cross graphite project continues to move towards first production in the medium term and their involvement will help provide a stronger operational and commercial model," Chair Cameron Pearce says.
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Science Group PLC - Cambridge-based science-focused product development company - Reports 2021 revenue in excess of GBP80 million and adjusted operating profit around GBP16 million, up 45% from GBP10.9 million a year ago. "This outstanding performance, delivering a very strong operating margin, has been achieved in a challenging environment due to the ongoing Covid pandemic and global supply chain constraints. All the divisions have contributed to this success, with the Group overall benefitting from the operational efficiencies resulting from the greater scale following the 2019 Frontier acquisition," company says. Says board anticipate recommending a 25% increase, to 5 pence per share, in the dividend payment.
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Steppe Cement Ltd - Kazakhstan-focused construction materials firm - 2021 revenue rises to KZT36.02 billion, around GBP60.3 million, up 16% year-on-year. Cement sales increases to 1.7 million tonnes from 1.6 million tonnes. Exports decreased by 57% to 86,500 tonnes in 2021 from 202,000 tonnes. "We are in the period of lowest sales of the year, and the directors do not believe they presently have sufficient visibility on economic matters to make an accurate prediction on demand for 2022," company says. Results for the year are due in May.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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