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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.

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