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TRADING UPDATES: Superdry optimistic; Virgin Wines toasts demand surge

Thu, 6th May 2021 19:25

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



Superdry PLC - Cheltenham, Gloucestershire-based clothing retailer - Can see "light at the end of the tunnel" as lockdown restrictions ease. Says financial 2021 revenue fell 21% to GBP556.6 million from GBP704.4 million in financial 2020. In the fourth quarter, revenue increased 0.8% to GBP118.3 million from GBP117.4 million a year ago. "The early signs following the reopening of our UK stores are encouraging, as lockdown restrictions start to lift, and we can clearly see the light at the end of the tunnel. In short, we are on track with our reset of the brand, and there's a lot to look forward to," says Chief Executive Officer Julian Dunkerton.



Virgin Wines UK PLC - online wine retailer - Strong demand in first half of year ending June 30 continuing in second half. "As a result of the continued strong performance, the board anticipates revenue and profitability for FY21 will be ahead of its previous expectations," Virgin Wines says. Says revenue will be no less than GBP73 million. "Whilst remaining mindful of the potential impact from the easing of lockdown restrictions on consumer spending patterns over the coming months, the board remains confident that the underlying growth drivers, which the DTC wine sector is experiencing, alongside the accelerated shift in consumer behaviour towards online retailing, will continue," company adds.



Joules Group PLC - Leicestershire-based retailer - Extends funding arrangements with Barclays Bank PLC to September 2024. Says financing includes GBP25 million revolving credit facility and GBP9 million term loan. Notes facility converted to environmental, social and corporate governance arrangement. "Under the terms of the agreement, Joules will benefit from a lower interest rate loan margin if the group delivers on the following targets: reducing its carbon emission intensity; delivering 100% more sustainable materials in the manufacturing of its products; and, increasing its employee engagement score.



SpaceandPeople PLC - AIM-listed retail, promotional and brand experience specialist - Secures contract renewal to provide GB Immobilien GmbH with retail merchandising units for five years until April 2026.



Genel Energy PLC - London-based oil company - Says Sarta well and performance of Tawke has increased output, in line with expectations. "Despite the ongoing challenges of Covid-19 in the operating environment in 2021, we continue to carry out our work programmes across all producing and appraisal assets as we aim to deliver on the significant near and long-term potential in the portfolio," Chief Executive Officer Bill Higgs adds. Company says Martin Gudgeon and Esa Ikaheimonen have stepped down as non-executives immediately.



Bacanora Lithium PLC - developer of Sonora lithium project in Mexico - Says in talks over potential takeover by Ganfeng International Trading (Shanghai) Ltd. Possible cash offer would be for 67.5 pence for every Bacanora share Ganfeng does not own, valuing company at GBP223.3 million. Bacanora shares rose 27% to 57p each in London on Thursday, giving market capitalisation of GBP188.3 million.



Harvest Minerals Ltd - fertiliser producer and operator of Arapua project in Brazil - Says KP Fertil product can now be sold in small 25 kilogramme bags following approval from Ministry of Agriculture, Livestock & Food Supply. Approval expands marketing channels, Harvest adds. "Notably, the 25kg-bag packaging is part of a more pulverised market and drives higher profitability margins than selling in bulk," company adds.



European Metals Holdings Ltd - mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Says Cinovec project parent company Geomet submits documentation for initial environmental impact assessment to Czech ministry.



Rockfire Resources PLC - Australia-focused gold and base metal exploration company - Completes GBP850,000 placing to fund maiden drilling at Copper Dome and Copperhead projects and ongoing work at Plateau gold deposit. "The Copper Dome and Copperhead porphyry projects have not been drilled for almost 50 years. When drilled in 1972, significant copper (and gold) was encountered in each drill hole," Chief Executive David Price says.



Anglo Pacific Group PLC - London-based natural resources royalty and streaming - Royalty related revenue in first quarter falls 44% to GBP6.4 million from GBP11.4 million a year earlier. Total portfolio contribution down 45% to GBP6.8 million from GBP12.3 million. "The first quarter of 2021 has started satisfactorily for Anglo Pacific with the completion of the transformational acquisition of the Voisey's Bay cobalt stream and the resumption of activity at McClean Lake returning the group's portfolio of producing assets to full operation," Chief Executive Officer Julian Treger says.



Bahamas Petroleum Co PLC - Caribbean and Atlantic margin focused oil and gas company - Says rig mobilisation to the Saffron 2 well in Trinidad & Tobago will commence on Sunday and is targeting commencement of drilling on or around May 23. Says a further five to nine production wells are currently planned to be drilled in the second half of 2021 as part of an overall field development of up to 30 wells.



Chesterfield Resources PLC - copper explorer focused on Cyprus - Says "good progress" being made on percussion drilling and geophysical work. Also spots "compelling large new anomaly", which company has named Olive. Olive now "confirmed as a high-priority drill target".



Savannah Resources PLC - resource development company with operations in Portugal, Mozambique and Oman - Develops new corporate environmental & social management system to help deliver on corporate sustainability policy. Aimed at supporting company's ESG credentials. "The ESMS will provide the framework within which all ESG aspects of the company's activities are systematically identified, managed, evaluated, reviewed and continuously improved. It aims to support the delivery of the CSP in a consistent way across all the company's subsidiaries," Savannah says.



Alien Metals Ltd - iron ore and silver projects in Australia and Mexico - Says drilling campaign of 53 holes at Hamersley iron project completed. Says three "main target areas drilled, including Sirius Extension". "We are really pleased with the success thus far from our maiden drilling program and are delighted to now be looking towards next stage work and planning," CEO Bill Good says.



Mast Energy Developments PLC - developer of reserve power generations plants - Says on target to deliver on targets outlined in prospectus. CEO Paul Venter hails progress company has made since initial public offering.



Predator Oil & Gas Holdings PLC - Jersey-based oil & gas company with operations in Trinidad, Morocco and Ireland - Says on schedule to begin MOU-1 well drilling in June. "This is an exciting and exceptionally busy time operationally for the company dominated by making preparations on the ground in Morocco for the imminent drilling of the MOU-1 well," CEO Paul Griffiths said.



Power Metal Resources PLC - metal exploration and development company - Signs option agreement to buy two gold-nickel licences on Tati Greenstone Belt, Botswana. If company exercises option, it will pay initial GBP25,000 through issue of 833,333 shares at 3.0p each. Will pay further GBP50,000 in shares should Power Metal go ahead with exploration spend programme. Says may pay further GBP100,000, again in shares, should performance targets be met. Also notes restructuring of Molopo Farms Complex project progressing. "The decision to create a new UK plc to hold the remaining 60% interest in the MFC project is an important step. We believe the planned UK listing will enable fuller recognition of the MFC project's value, particularly given the notable exploration success already achieved and the level of interest being shown in the project," CEO Paul Johnson says.



Taseko Mines Ltd - Vancouver, Canada-headquartered mid-tier copper producer - First quarter copper output down 10% to 22.2 million pounds from 32.4 million pounds in year prior. Revenue rises 40% to CAD86.7 million, about GBP51.2 million, from CAD62.1 million.



Clontarf Energy PLC - Ghana and Bolivia-focused oil and gas explorer - Proposes placing to raise GBP500,000. Will place 153.8 million shares at 0.325p each. "The net proceeds of the placing will fund any costs associated with the ongoing negotiations regarding the company's Bolivian lithium and Ghanaian assets and will also provide the company with additional working capital, as the company's board continues to assess new projects," Clontarf adds.



Panther Metals PLC - company focused on mineral exploration in Canada and Australia - Completes airborne geophysical programmes at Annaburroo and Marrakai gold projects, Australia. "The completion of these airborne geophysical programmes marks an important point in the development of our Australian portfolio," CEO Darren Hazelwood says.



SulNOx Group PLC - London-based hydrocarbon fuel emulsification specialist - Says RemNOx Ltd has agreed to become independent sales organisation for SulNOx. "They have now agreed to exclusively promote and deploy SulNOx technologies throughout multiple industries, including transportation and retail sectors, around the globe," company says.



Bilby PLC - London-headquartered gas heating, electrical and building services firm - Expects to report "solid" performance for year ended March 31, despite seeing "often significant no access rates and delays". Expects revenue of GBP60 million for year, down 8.3% from GBP65.4 million, and adjusted earnings before interest, tax, depreciation and amortisation of GBP3 million, down 36% from GBP4.7 million. Meanwhile, investor Western Selection PLC says it has bought 270,000 Bilby shares at 37p eacg. Now owns 12% stake in Bilby.



Accsys Technologies PLC - wood building products manufacturer - Raises EUR33 million from placing and EUR4 million from open offer. "Today's successful equity fundraise represents further progress on our strategy and will allow us to increase the production of our high-performance and sustainable products for which demand continues to exceed supply," CEO Rob Harris says.



Costain Group PLC - infrastructure company - Says current trading is in line with the board's expectations and remains confident in delivering profit growth in 2021.



Jardine Matheson Holdings Ltd - Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships - Says continuing to face challenges from Covid-19. Says Jardine Pacific "delivered a good overall performance" in first quarter of 2021. "Jardine Motors saw its earnings in the first quarter increase across all markets compared with the same period last year," company adds. "Hongkong Land's office portfolio continued to demonstrate resilience in the period, underpinned by its high-quality tenant base and active lease management."



Quixant PLC - Cambridge-based technology outsourcer for gaming industry - Says continued to see "healthy demand" for products. "Order intake remains strong, providing us with further improved order coverage for our internal full year budget. The global shortage of semiconductors is impacting many industries, including our own, and remains a risk we are continuing to manage," Chair Michael Peagram says. "With the global gaming market seeing a restoration in demand and new opportunities in the near term, Quixant is in a stronger position than ever to resume its record of profitable growth."



Blue Star Capital PLC - esports, payments and technology focused investor - Updates on investees, including newly-listed Guild Esports PLC. Says Guild has "already achieved a number of important milestones". Dynasty eSports Pts has signed "number of other SaaS agreements for the provision of its platform", Blue Star says.



Standard Life Investments Property Income Trust PLC - property investor - Says net asset value per share up 4.0% quarter-on-quarter to 85.3p on March 31. Portfolio value up 2.5% on like-for-like basis, compared to 0.9% hike from MSCI Monthly Index. Quarterly dividend upped 25% to 0.8925p.



Clear Leisure PLC - AIM listed investment company - Says shareholders back name change to Quantum Blockchain Technologies PLC. To begin trading under new name on Friday.



Watchstone Group PLC - cash shell with remaining assets comprising litigation and contingent assets - Says 2020 pretax loss widens to GBP1.2 million from GBP3.3 million in 2019. Administrative expenses down 62% to GBP1.4 million from GBP3.6 million. Will seek shareholder approval at June 29 annual general meeting to cancel AIM listing. "As the board was keen to provide shareholders with the services of a regulated market and a trading facility while it pursues its litigation assets and its strategy unfolds, the company applied for and had its ordinary shares admitted to trading on the Access segment of the AQSE Growth Market operated by the Aquis Stock Exchange on April 30, 2021," Watchstone adds.



Logistics Development Group PLC - AIM-listed cash shell - Snaps up economic interest in PIK loan facility, by picking up stake in Alpha Persei Ltd. DBAY Advisors Ltd back in December 2019 provided company with chance to get stake of up to 49% in loan. "Following the successful LDG fund raise in December 2020, the Company decided to exercise its rights to acquire a portion of the PIK Loan and accordingly has acquired six million ordinary shares in Alpha for consideration of GBP6 million, giving it a 10.9% legal and beneficial interest in Alpha," LDG says.



Hansard Global PLC - Isle of Man-based specialist long-term savings provider - Says new business up strongly in the third quarter to March 31, rising 23% annually to GBP47.3 million. Assets under administration rises quarter-on-quarter to GBP1.18 billion from GBP1.17 billion. "Our new business performance for our third quarter was very positive. It is encouraging to see an improving environment for the distribution of our products as restrictions are gradually relaxed and investment confidence returns," CEO Gordon Marr says.



GetBusy PLC - document management and productivity software - Says recurring revenue in four months to April 30 up 12% annually at constant currency. Total revenue improves 10% at constant currency. "SmartVault has led the recurring revenue growth, with a 44% increase in the value of new business over the period. Encouragingly, the average selling price of new business has been over 40% higher per customer than the same period in 2020, reflecting early success in the Board's strategy to broaden SmartVault's appeal to larger clients," GetBusy says.



Location Sciences Group PLC - London-based location verification company - Says broker option of fundraise "significantly oversubscribed" but only partially exercises option. Raises GBP3.5 million. "In tandem with this, Location Sciences granted the broker option, which has now closed, to Turner Pope to provide the opportunity for existing Shareholders to participate in the fundraise undertaken by the company," Location Sciences says.



Shearwater Group PLC - London-based cybersecurity services provider - Says unit Brookcourt Solutions Ltd secures five-year renewal of agreement with London-based, "leading British multinational investment bank and financial services company". "The framework extension provides for the continued supply of leading-edge cyber security, networking services and solutions to the client, to whom Brookcourt has been a key partner for more than 15 years," Shearwater says.



Vitec Group PLC - Richmond, West London-based photography and video products maker - Says trading performance has improved faster than previously anticipated. It now expects adjusted pretax profit for 2021 to be materially above current market expectations of GBP30.7 million.



Gateley Holdings PLC - Birmingham-based legal and professional services group - Says financial 2021 revenue is expected to be materially ahead of consensus market expectations of GBP111.7 million. Gateley also confirms it intends to recommence dividend payments and declares interim dividend of 2.5p.



MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Shares on Australian Securities Exchange suspended effective Thursday at company's request pending announcement of further findings on ArtemiC.



DeepVerge PLC - York-based life science company - Expands Rinocloud data and technology division into Moorepark Technology Centre in Fermoy, Cork, Ireland. "The facility, expected to be ready in Q3, includes laboratory and engineering production units that will establish a European centre of excellence for real-time detection of multiple dangerous pathogens, including SARS-CoV-2, in water and wastewater systems," DeepVerge.



Allergy Therapeutics PLC - Sussex-based biotechnology firm focused on allergy vaccines - Completes treatment phase of field study to evaluate Grass MATA MPL, a potential treatment for grass pollen allergy. "Completion of the treatment phase of the study has been achieved despite the challenges caused by the continuing Covid-19 pandemic. The group has executed the dosing phase of the study in such a way that high patient retention has been achieved (97%) without any delay to the scheduled read-out of the data," Allergy says.



Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan and Nigeria - Says shares to begin trading in Egypt on May 20.



Glanbia PLC - Kilkenny, Ireland-based nutrition company - Says first quarter wholly-owned revenue up 11% annually at constant currency, 2.0% on reported basis. "I would like to thank our colleagues and partners around the world for their continued resilience in managing the challenges of Covid-19, keeping supply chains going, delivering essential nutrition and helping Glanbia to deliver a strong start to 2021," Group Managing Director Siobhan Talbot says. Expects 2021 adjusted earnings per share growth to be in upper range of 6% to 12% range at constant currency.



Emis Group PLC - healthcare software - Says year-to-date trading in line with board expectations. "The group continues to have leading positions in specialist markets, benefits from high levels of recurring revenue and remains in a strong financial position," Emis says.



By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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