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Pin to quick picksPrimorus Inv. Share News (PRIM)

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TRADING UPDATES: Nightcap toasts sales jump after May reopening

Tue, 08th Jun 2021 13:11

(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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Nightcap PLC - London-based bar operator - Like-for-like revenue in three weeks since UK indoor hospitality reopened on May 17 rises 53% compared to equivalent weeks in 2019. Performance is significantly ahead of company's expectations given requirement for social distancing in bars. Company is looking for new properties around the UK.

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Amino Technologies PLC - Cambridge-based broadcasting technology provider - Revenue in six months ended May 31 expected to rise 19% year-on-year to USD45.3 million from USD38.0 million, company says in trading update.

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PCI Pal PLC - London-based call centre software provider - Revenue for year ending June 30 expected to be at least 5% higher than market consensus of GBP6.7 million. As a result of strong trading, the company will repay its GBP1.7 million outstanding debt before June 30.

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Water Intelligence PLC - Palm Springs, California-based water leak detection company - Revenue rises to USD37.9 million in 2020 from USD32.4 million in 2019. Pretax profit rises to USD4.2 million in 2020 from USD2.4 million in 2019. Company does not propose a dividend, unchanged from the year prior. "We plan to do more of the same in executing our core business offerings only more aggressively given our traction," company says.

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Trans-Siberian Gold PLC - gold producer with assets in Russia - Revenue rises 28% to USD81.0 million in 2020 from USD63.1 million in 2019. Pretax profit more than doubles to USD28.0 million from USD12.6 million. Celebrates record year of gold production and continues to recommend takeover offer from Horvik Ltd. "In 2020, Trans-Siberian Gold continued to return capital to shareholders by paying an interim dividend of USD7 million. Due to the takeover offer...the board is unable to recommend a final dividend for FY 2020," says company.

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RiverFort Global Opportunities PLC - natural resources investment company - Total operating income jumps to GBP2.4 million in 2020 from GBP947,944 in 2019. Pretax profit more than doubles to GBP1.5 million from GBP623,690. Net asset value 1.36 pence per share, up 17% in 2020. Sees increasing number of pre-initial public offering investment opportunities. "The current year has started well and we look forward to a very positive 2021," company says. Company paid an interim dividend of 0.02p per share and expects to pay a final dividend of 0.04p per share, which would bring the full-year total to 0.06p per share. This was the first year the company paid dividends.

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Primorus Investments PLC - natural resources investment company - Income rises to GBP5.7 million in 2020 from GBP190,000 in 2019. Swings to pretax profit of GBP4.6 million from loss of GBP401,000. After reducing costs and reviewing portfolio under a new board in 2020, the company expects to grow and establish special purpose acquisition companies.

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Palace Capital PLC - UK commercial property investor - Net rental income falls to GBP14.9 million in year ended March 31, from GBP18.8 million in previous year. Pretax loss narrows to GBP5.6 million from GBP9.1 million. Net asset value per share falls to 343p from 361p in year. Increases quarterly dividend to 3.0p per share from 2.5p per share, saying it is making positive progress with disposals programme enabling it to invest in attractive opportunites.

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Cornerstone FS PLC - London-based payments provider - Revenue rises to GBP1.7 million in 2020 from GBP1.2 million in 2019. Pretax loss widens to GBP2.2 million from GBP81,179. Trading volumes and customer numbers have increased in 2021, providing a strong base on which to build, company says.

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Driver Group PLC - Lancashire-based engineering services provider - Revenue falls to GBP25.0 million in six months ended March 31 from GBP28.0 million in previous year. Pretax profit falls to GBP855,000 from GBP1.3 million. Results hit by lockdowns and the loss of staff to a competitor in the Asia Pacific region. Five-year strategy started in December positions company for growth, and markets are expected to improve as restrictions are lifted. Company reinstates its interim dividend of 0.75p per share.

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Intercede Group PLC - Leicestershire-based identity management software company - Revenue rises to GBP11.0 million in year ended March 31 from GBP10.4 million in previous year. Pretax profit jumps to GBP1.1 million from GBP574,000. Pandemic affected sales in Europe and the Middle East, but the company won a major contract in the US. Expects to benefit from shift to remote working, as governments and businesses will try to improve their security. Company has no plans to start paying dividends as it invests for growth.

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Feedback PLC - Cambridge-based medical imaging software company - Revenue expected to fall to GBP280,000 for year ended May 31 from GBP450,000 in previous year, company says in a trading update. That stems from the anticipated decline in TexRAD sales, as the company switches its focus to the new Bleepa product. The move to Bleepa has started generating sales with a higher average contract value and better margins than TexRAD. Balance sheet is "strong" with net cash of GBP2.2 million, up from GBP700,000 a year ago.

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Aberdeen Japan Investment Trust PLC - investor in listed Japanese companies - Net return before tax jumps to GBP27.6 million in year ended March 31 from GBP2.7 million in previous year. Net asset value return 34%, outperforming the Topix benchmark's 25%. Declares final dividend of 9p per share, bringing total payout for year to 15p per share.

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Oncimmune Holdings PLC - Nottingham-based diagnostic equipment company - Revenue jumps to GBP5.6 million in year ended May 31, from GBP700,000 in previous year, company says in a trading update, after signing contracts with Roche Holding AG and the NHS. The outlook for the 2022 financial year is strong as company expects service contracts to be converted into strategic commercial partnerships.

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Alina Holdings PLC - retail property investment trust - Rental income falls to GBP598,000 in 15 months ended December 2020, from GBP764,000 in year ended September 2019. Pretax loss narrows to GBP465,000 from GBP1.9 million. Net asset value per share falls in period to 28.76p from 30.81p. Company took a flexible approach to rent collection after leisure and hospitality tenants, many of whom are sole traders, were hit by the pandemic. Plans to buy stakes in European leisure and hospitality businesses in less developed places, which offer the best value. Company will not pay a dividend, in line with its policy.

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Vp PLC - Yorkshire-based industrial equipment rental provider - Revenue falls to GBP308.0 million in year ended March 31 from GBP362.9 million in previous year. Swings to pretax loss GBP2.3 million from profit of GBP28.4 million. Lifts final dividend to 25p per share from 22p per share. Results are ahead of Vp's expectations after pandemic hit, and company exited the year at "nearly pre-Covid levels". Company has made a strong start to the current year and is confident for its prospects.

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BP Marsh & Partners PLC - London-based investor in financial services companies - Pretax profit rises to GBP13.7 million in year ended January 31 from GBP12.2 million in previous year. Net asset value per share rises to 416.4p from 380.1p. Lifts final dividend to 2.44p from 2.22p. Company made one new investment in year, buying a 30% stake in Sage Program Underwriters Inc.

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Itaconix PLC - Flintshire-based polymers maker - Revenue increases 39% year-on-year in first five months of 2021. Sales at the odour control unit grew strongly, while detergents sales grew and personal care declined slightly.

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Filta Group Holdings PLC - West Midlands-based commercial kitchen services company - Reports increasing demand as the US leisure and hospitality industry reopens sooner than expected. Franchisees made USD4.6 million network revenue in April up from USD3.1 million in January.

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By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
14 Jul 2023 18:54

IN BRIEF: Bushveld and Primorus revise terms of loan note agreement

Bushveld Minerals Ltd - Iron ore and tin exploration and development company with operations in South Africa - Agrees with London-based investment firm Primorus Investments PLC to alter the terms of the Bushveld convertible loan note, first announced on January 19 2022.

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16 Jun 2023 16:06

IN BRIEF: Primorus 2022 loss widens as assets see fall in value

Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - Reports pretax loss for 2022 of GBP1.5 million, widening from GBP41,000 a year ago. Says net assets are GBP7.5 million, down 16% from GBP8.9 million a year ago. "The board believes the company to be significantly undervalued given its current share price and resultant market capitalisation," the firm says. Basic loss per share was GBP1.06, swinging from earnings per share of 0.08 pence.

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13 Sep 2022 17:39

IN BRIEF: Primorus Investments invests GBP250,000 into Interpac

Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - Invests GBP250,000 into Interpac Ltd, a company founded to create a new corrugation process for cardboard manufacturing.

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2 Sep 2022 15:48

IN BRIEF: Primorus Investments loss widens in tough market conditions

Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - For the first half of 2022, operating loss widens to GBP847,000 from GBP115,000 the same period a year before, due to a total loss of GBP748,000 on financial investments, compared to a gain of GBP134,000.

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4 Jul 2022 05:51

Community-owned shopping platform WeShop launches, with IPO in sight

(Alliance News) - British tech firm WeShop is launching itself as the world's first community-owned social e-commerce platform, offering shoppers shares in the group every time they make a purchase.

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1 Jul 2022 20:05

TRADING UPDATES: Capital wins contracts; 4D pharma pauses enrolment

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

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23 Jun 2022 16:02

UK shareholder meetings calendar - next 7 days

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Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
10 Jun 2022 15:25

IN BRIEF: Primorus Investments swings to loss; notes pleasing progress

Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - Swings to a pretax loss of GBP41,000 in 2021 from a profit of GBP4.6 million. Net assets at December 31 rise to GBP8.9 million from GBP8.8 million at the same time the previous year. Notes "pleasing" progress by several of its investee companies in the face of Covid-related challenges. Says it did not need to raise any capital in 2021 and sees no immediate to do so, though it does not rule out the possibility.

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6 Jun 2022 14:40

IN BRIEF: Primorus Investments extends Alteration Earth listing date

Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - Extends the time for investee Alteration Earth PLC to obtain its listing on the Standard Segment of the Main Market of the London Stock Exchange. The date has been extended from June 6 to July 1 this year.

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6 May 2022 19:11

TRADING UPDATES: Enwell pleased with SV-31; SDX Energy ties in well

(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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5 Apr 2022 20:45

TRADING UPDATES: Rambler ups production; SRT Marine anticipates loss

(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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4 Mar 2022 20:53

TRADING UPDATES: IOG to cut Gazprom ties; wholesale changes at Donegal

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

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16 Feb 2022 14:23

Primorus puts £1m into Clean Power Hydrogen IPO

(Sharecast News) - Primorus Investments has invested £1m in the initial public offering of Clean Power Hydrogen (CPH2), it announced on Wednesday.

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16 Feb 2022 11:22

Clean Power Hydrogen debuts on AIM market trading up 30%

(Alliance News) - Shares in Clean Power Hydrogen PLC rose more than 30% as they started trading on London's AIM market on Wednesday, following an initial public offering that raised less than first hoped.

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3 Feb 2022 22:32

TRADING UPDATES: Cadence, Rambler Metals raise funds to help projects

TRADING UPDATES: Cadence, Rambler Metals raise funds to help projects

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