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(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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ScS Group PLC - Sunderland-based furniture retailer - For the 26 weeks ended January 23, sales rise by 14% to GBP182.3 million from GBP160.1 million the year before, due to significant order intake growth in June and July 2020. As at January 23, order book is GBP90.5 million, a GBP16.8 million rise from the same date the prior year. "Whilst it is too early to provide clarity on the outlook for the weeks and months ahead, we remain cautiously optimistic given the strong trading experienced by the group following the first and second lockdowns," ScS says.
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Quixant PLC - Cambridge-based technology outsourcer for gaming industry - For 2020, expects adjusted pretax profit to be "in excess of USD1.0 million", and revenue to be USD68.2 million. For 2019, adjusted pretax profit was USD10.7 million, on revenue of USD92.3 million. "We have healthy order coverage for the first half of 2021, although delivery of the order book will clearly be impacted by a tightening of restrictions due to Covid-19. We also face challenges due to the widely reported global shortage of semiconductor components, against which the board has taken decisive action to mitigate the impact on customer deliveries," says Chief Executive Officer Jon Jayal.
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Renew Holdings PLC - engineering services company - Trading for the first quarter of 2021 is currently in line with management expectations. Order book as at December 31 stands at GBP677 million, up 4.0% from GBP651 million the year before. "Since the introduction of the latest national lockdown in early January 2021, we have experienced continuity in demand for our services across all our markets where our employees continue to implement strict Covid-19 precautions in line with Public Health England advice. The group's operations have remained largely unaffected and, based on our experiences to date, we do not anticipate any material impact on our financial performance," says Chair David Forbes.
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Strix Group PLC - kettle safety controls supplier - Notes marked recovery in second half of 2020, leading to expectations of around 2% rise in adjusted pretax profit for 2020 from GBP28.9 million the year before. Strong sales since June were driven by replenishment of pipeline and a strong seasonal uplift. Confirms intention to pay 7.7 pence per share as total dividend.
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Vector Capital PLC - London-based commercial lender - As at December 31, loan book is up 8.2% at GBP36.4 million from GBP33.6 million on the same date a year before, with number of live loans at 63 from 56. However, average loan size is down 3.9% at GBP577,000 from GBP600,485 the prior year. Revenue for 2020 expected to be GBP4.3 million, up 19% from GBP3.6 million in 2019.
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Real Estate Investors PLC - Midlands-focused real estate investment trust - For 2020 as a whole, company collects 95% of rent, which is expected to improve further over time. For the first quarter of 2021 to date, has collected 90% of rent, of which 2% is under a deferred arrangement. Occupancy at the end of 2020 was 92%, down from 96% the same date the year before, due to known lease events in the office sector.
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Uniphar PLC - healthcare services firm - For 2020, performs ahead of management expectations at a gross profit level, achieving a 6% organic rise in gross profit, driven by the strong performance of the group's Product Access and Commercial & Clinical divisions. Looking ahead, Uniphar is well positioned to deliver organic growth across all divisions, and is in a strong position to continue exploring acquisition opportunities. In addition, appoints Jim Gaul and Elizabeth Hoctor as non-executive directors with immediate effect.
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Petroneft Resources PLC - Russia-focused oil and gas exploration and production company - For January to date, at licence 67, reports output of 1,847 barrels of oil per day, up 7% from 1,727 bopd the same month the year before. Notes good progress on preparations for fracking program, with two-well program to start in first week of February. At licence 67, operations to start year-round production from C-4 well on track on start in second week of February.
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Adriatic Metals PLC - developing Vares silver project in Bosnia & Herzegovina - As at December 31, cash balance was GBP29.2 million, up from GBP13.9 million the same date a year before. Drilling results from Kizevak project have revealed mineralisations 50 metres down dip of prior results, and demonstrate excellent grade-thickness continuity. In addition, Adriatic has drilled five holes at Sastavci. Although results for the final hole are pending, gold mineralisation has been discovered, which occurs separately to the lead-zinc-silver mineralisation.
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Oakley Capital Investments Ltd - investment vehicle offering access to Oakley Funds - As at December 31, net asset value per share is 403 pence, up 17% from 345p the same date the year before. During 2020, the company invested GBP152 million and received proceeds of GBP341 million. Within portfolio of 17 companies, 10 met or exceeded expectations, with 4 companies being mildly affected by Covid-19, and the remaining three suffering considerably.
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Mobile Tornado Group PLC - Harrogate, North Yorkshire-based communications company - For the second half of 2020, expects loss before interest, tax, depreciation and amortisation of GBP190,000 on revenue of GBP1.2 million. As a result, for the year as a whole, Lbitda is expected to be GBP400,000, compared to profit of GBP10,000, on revenue of GBP2.5 million, down 29% year-on-year from GBP3.5 million. Looking ahead, Mobile Tornado expects activity levels to pick up in 2021, and will focus on entering an Ebitda-positive position.
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Warehouse REIT PLC - real estate investment trust focused on warehouse assets - For the third quarter to the end of December, rent collection remains strong at 95%, 3% of which has been deferred by agreement with customers. For the financial year ending March 31, company has collected 96% of rent due. As at December 31, total contracted rent stands at GBP40.2 million.
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Verditek PLC - London-based company producing solar panels - During the fourth quarter of 2020, production was ramped up at its Milan manufacturing plant to fulfil existing and anticipated orders. However, second surge in infections have had a "significant commercial impact", with opportunities and trials continuing to be delayed. This has led to greater caution among customers, delaying the expected conversion of the company's pipeline. For 2020, target of being cashflow positive on a monthly basis will not be met, and revenue for the year will be "minimal.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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