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TRADING UPDATES: Novacyt, Bloomsbury Expect Strong Annual Performance

Fri, 29th Jan 2021 12:06

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Novacyt SA - Anglo-French biotechnology group focused on clinical diagnostics - For 2020, revenue sharply rises to EUR311.6 million from EUR13.1 million the year before, while earnings before interest, tax, depreciation and amortisation is set to be above EUR210 million, compared to EUR200,000 the prior year. Looking ahead, expects demand for its Covid-19 product to remain strong throughout most of 2021, although it remains difficult to give a clear forecast.

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Bloomsbury Publishing PLC - London-based fiction and non-fiction publisher - For the year ending February 28, profit and revenue is set to be ahead of market expectations, due to strong trading in the Consumer division for both Adult and Children's publishing. Consensus market expectations for the year has pretax profit at GBP12.1 million and revenue at GBP161.8 million.

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Sylvania Platinum Ltd - Platinum group metals producer - For the second quarter ended December 31, Sylvania Dump Operations declared 18,363 ounces of 4E platinum group metals, up 2% from 17,972 ounces the prior quarter. Net profit increases by 1% quarter-on-quarter to USD20.3 million, on revenue that increases by 2% to USD43.7 million.

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Restore PLC - AIM-listed support services company - For 2020, predicts underlying pretax profit to be in line with market expectations following improved customer activity levels in the second half. For the fourth quarter, overall activity levels increase to 87% of pre-Covid levels. Net debt as at December 31 is GBP66.1 million, compared to GBP88.5 million the year before.

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YouGov PLC - London-based research data and analytics group - For the six months to the end of January, trading is expected to be in line with management expectations, with revenue growth across all three divisions. Higher demand for more tactical, fast turnaround projects leads to growth from the Data Services business. However, headline operating profit will be hit by an increased non-cash share-based payments charge.

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Great Western Mining Corp PLC - mineral explorer with assets in Nevada - At Olympic Gold project, survey results indicate strong magnetic anomaly beneath the Trafalgar Hills prospect, which indicates the potential for precious metals. Trial processing of precious metals ongoing but placed on hold due to severe winter weather. Will hold extraordinary general meeting for migration of settlement system for company's shares on February 15.

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Jade Road Investments Ltd - Asia-focused small-business investor - Notes favourable macroeconomic backdrop, with Asian economies expected to lead world back to growth. Has investment pipeline focused on high growth and topical sectors such as healthcare technology, fintech and e-commerce. Expects to make at least one new investment in the first half of 2021.

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Inspired Energy PLC - Lancashire-based energy procurement consultant - Due to resilient performance in fourth quarter of 2020, for entire year expects underlying earnings before interest, tax, depreciation and amortisation in line with market consensus. As at December 31, order book up 9.6% at GBP63.0 million from GBP57.5 million the year before on new customer wins.

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Impact Healthcare REIT PLC - real estate investment trust - As at December 31, net asset value per share up at 109.58 pence from 109.06p at the end of September. Will pay dividend of 6.29 pence per share for 2020 as a whole, and is targeting a 1.9% increase to 6.41p for 2021. Portfolio value at GBP418.8 million, a 4.9% increase over the quarter.

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Inspecs Group PLC - eyewear design house and manufacturer based in Bath - For 2020, revenue down 25% at USD46.2 million from USD61.2 million the year before. Integration of recent acquisition Norville Group Ltd is complete and the integration of Eschenbach Optik GmbH is proceeding as planned.

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Various Eateries PLC - Restaurants operator - Receives interim payment of GBP2.5 million under Business Interruption Insurance policy, which supports the group's overall liquidity. Is still exploring several desirable sites for expansion across the UK, however has held off on signing new leases. Also withdrawing future guidance due to continued pandemic uncertainty.

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Pelatro PLC - London-based marketing software firm - For January to date, annual recurring revenue run rate up 35% at USD5.4 million, from USD4.0 million the same month the year before. Unnamed Asian telecommunications firm has chosen Pelatro's mViva platform for campaign management operations over three-year term. Revenue from contract expected to be between USD1 million and USD1.2 million.

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Braveheart Investment Group PLC - AIM-listed investment company with six strategic investments - Investee Paraytec Ltd has noted that despite delayed delivery of 500 clinical samples from Sheffield Hospitals Trust, the pipeline is now operational, and the samples used to test operational parameters for Covid-19 test which is in development. Results from the testing are expected by the end of February.

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Xpediator PLC - freight management services in UK and eastern Europe - Following higher than expected demand for services in November and December, expects 2020 adjusted pretax profit at GBP7.2 million, up 40% from GBP5.2 million in 2019. "2021 has begun well across the group during which we expect to benefit from the permanent GBP500,000 of cost reductions made in 2020, the first full year of revenues from the Nidd Transport acquired in October and the ongoing uplift in demand for our services across the group," says Chief Executive Officer Robert Ross.

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Tricorn Group PLC - pipe manufacturer based in Malvern, Worcestershire - For the first quarter ended December 31, notes increased demand levels from several customers, providing additional availability in the UK from the group's invoice discounting facility. In addition, following stocktakes conducted at both UK sites, Tricorn has made a 2% gain in gross inventory. Looking ahead, with increasing demand, more stock will be necessary to minimise supply chain delays.

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OPG Power Ventures PLC - Indian power plant operator - For the nine months ended December 31, total generation dropped by 30% to 1.47 billion units from 2.09 billion units the same period the year before. Plant load factor was 54%, compared to 77%, and average tariff is INR5.52, down 2.6% from INR5.67. However, still expects to meet market expectations for its full-year results and show "good profitability". "This board anticipates that OPG will provide returns to the company's shareholders in near term by resuming dividend payments in accordance with the company's dividend policy based on the FY21 results," company says.

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Salt Lake Potash Ltd - Western Australia focused organic sulphate of potash miner - Within three months ended December 31, reaches financial close for Lake Way salt of potash project in Wiluna, Australia, while harvesting of potassium rich kainite and schonite sales from train one has started. In addition, as at December 31 the process plant is 88% complete.

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Argo Blockchain PLC - London-based cryptocurrency mining - Brings new S19 and S19 pro machine onstream, and is expected to add 127 petahash to company's existing mining fleet, bringing the total installed computing power to 772 petahash.

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Prairie Mining Ltd - Poland-focused coal development firm - Continues with claim against the Republic of Poland under both the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty. Company alleges that Poland has breached the treaties by blocking the development of the Jan Karski and Debiensko mines, depriving "Prairie of the entire value of its investments in Poland". With a USD12.3 million litigation funding agreement in place, Prairie is well funded to pursue the claim.

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Berkeley Energia Ltd - clean energy company focused on bringing its wholly owned Salamanca project in Spain into production - During three months ended December 31, received notification from the Ministry for Ecological Transition & the Demographic Challenge, granting the renewal of the initial authorisation for the uranium concentrate plant as a radioactive facility at Salamanca, until the ongoing Authorisation for Construction application is resolved.

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Red Emperor Resources NL - West Perth, Australia-based AIM cash shell - During the three months ended December 31, has continued to evaluate deal opportunities, with several potential projects in the oil & gas sector considered.

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Pensana Rare Earths PLC - exploration and development company - Within three months ended December 31, planning application was submitted to set up rare earth oxide separation facility at the Saltend Chemicals plant in Yorkshire. In addition, confirms high grade rare earths in soil samples at the Coola exploration project, located 16 kilometres north of the flagship Longonjo project.

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Palace Capital PLC - investment company with portfolio of UK commercial real estate located outside of London - For 2020 as a whole, 92% of all rent due has been collected, while discussions are ongoing for the outstanding rent. For the first quarter of 2021 to date, 86% of rent has either been collected or will be received under monthly payment plans. The collection rate is set to improve over the next few weeks.

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EJF Investments Ltd - closed-ended investment firm focused on assets benefiting from regulatory and structural change in the financial services sector - With effect from February 15, will no longer hedge 100% of its US dollar exposure, and will look to hedge only the final sterling capital entitlement of its outstanding 2022 and 2025 zero dividend preference shares. "The board anticipates that the reduction in the hedging costs together with the release of the cash on hand for pipeline investments will positively contribute to the company's overall investment returns," the group states.

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Thor Mining PLC - Australia-focused exploration and development company - For the three months ended December 30, has located 13 kilometre anomalous gold trend in the Ragged Range project following geochemical sampling. Looking ahead, expects to start initial drilling programme in first quarter of 2021. In its Copper operations, has singed joint venture farm-in to acquire up to 80% in Alford East ISR project, while in Uranium & Vanadium, has started panning and permitting for initial drill testing of the Colorado claims.

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Next Fifteen Communications Group PLC - London-based digital communication group - For final quarter ending January 31, revenue is expected to be up 9% from same period the year before, fostering confidence for the year as a whole, the company's performance will be ahead of market expectations.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Palace Capital selling 50 flats to Barnet council

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Palace Capital Agrees To Sell 50 Residential Units For GBP18 Million

LONDON (Alliance News) - Palace Capital PLC on Friday said it agreed to sell 50 residential units for GBP18.2 million to the London Borough of Barnet.The 50 residential units, which are all

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Palace Capital Lifts Dividend 3% As Total Net Asset Value Rises 70%

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7 Mar 2018 14:16

Palace Capital Hedges Further Against Possible Interest Rate Rise

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Palace Capital Lets 13 Flats In Kent To Dartford Borough Council

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16 Dec 2016 09:33

Palace Capital Secures Lease Extension In Essex With Rockwell

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Palace Capital extends lease on Essex property by 10 years

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Palace Capital hikes dividend as H1 pre-tax profit falls

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Palace Capital Says Brexit Is "London-Focused Issue" After Strong Half

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Palace Capital Notes Progress Made To Improve Portfolio Rental Income

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Palace Capital completes Manchester property buy

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