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TRADING UPDATES: Abingdon Health swings to loss; MetalNRG in dispute

Thu, 18th Nov 2021 20:53

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

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Abingdon Health PLC - developer and manufacturer of rapid tests - For year ended June 30, posts revenue of GBP11.6 million, more than double GBP5.2 million last year but swings to pretax loss of GBP7.0 million from GBP3.4 million profit year before. Abingdon Health will not pay dividend for year. "Whilst the Covid-19 market environment remains uncertain, the group is well placed to support our global customers, having expanded the range of Covid-19 rapid tests under manufacture," says Chief Executive Officer Chris Yates.

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Zambeef Products PLC - agribusinesses in Zambia, Nigeria and Ghana - Says basic earnings per share for the financial year ended September 30, is expected to be ZMD55.89, about USD0.15, swinging from loss per share of ZMD34.0 last year.

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Tertiary Minerals PLC - mining projects in Zambia, Europe and the US state of Nevada - Says 96%-owned Zambian subsidiary, Luangwa Minerals Ltd, to exercise option with Mwashia Resources Ltd to buy up to 90% joint venture interest in the four additional large exploration licences held by Mwashia. "We have had enough time to consider and examine the prospectivity and strategic value of the additional four licences in the original agreement. We believe our timing is good," says Managing Director Patrick Cullen.

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Atalaya Mining PLC - Cyprus-based copper ore company - For three months to September 30, revenue rises to EUR107.2 million from EUR65.8 million in third-quarter last year and profit after tax comes in at EUR38.2 million from EUR12.2 million. Highlights that higher revenue was the result of increased realised copper prices and slightly larger volumes of concentrate sold. Is confident will achieve increased 2021 copper production guidance of between 54,000 to 56,000 tonnes.

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PetroTal Corp - Texas, US-based oil & gas development and production company - For three months to September 30, achieves production of 9,508 barrels of oil per day, within 2% of guidance and 8% above second quarter production of 8,839 bopd. Looking ahead, says fourth quarter production guidance is now revised to 12,500 bopd due to a drilling delay for 9H that required a sidetrack resulting from recalibration and optimization of the new synthetic mud system.

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SDX Energy PLC - London-based oil and gas exploration, production, and development company - For three months to September 30, net revenue rises to USD12.9 million from USD11.7 million in third quarter last year but swings to loss of USD2.0 million form USD1.7 million profit. Looking ahead, says is well-placed to weather current macroeconomic uncertainties and continues to examine several business development opportunities.

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Wynnstay Properties PLC - London-based property investor - For six months to September 29, rental income up 2.7% to GBP1.08 million from GBP1.05 million last year and pretax profit jumps 21% to GBP650,000 from GBP538,000. Declares an interim dividend of 8.5 pence, up 6.3% from 8.0p last year.

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Enteq Technologies PLC - Buckinghamshire-based energy services technology and equipment supplier - For six months to September 30, revenue falls to GBP2.3 million from GBP2.6 million last year and pretax loss widens to GBP1.2 million from GBP759,000. Says its Saber system is progressing to North American field-trials in early 2022, where there is strong customer and partner interest and good market potential. Expected successful development of Saber will greatly expand Enteq's addressable market. Revenue for financial year to date - April 1 to October 31 - of USD3.2 million and current order book of USD2.0 million provides confidence in board's expectations for the full year.

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British Smaller Cos VCT PLC - venture capital trust - Net asset value per share as at September 30, 90.9p per share, up 20% from 75.8p on March 31. Total Return increased by 17.1p to 250.3p per share.

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British Smaller Companies VCT2 PLC - venture capital trust - Net asset value per share as at September 30, 66.7p, up 5.0% from 63.5p at June 30.

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Immupharma PLC - London-based drug discovery and development company - Says lupus treatment Lupuzor is on track to deliver pharmacokinetic study results in the first quarter and to move into phase 3 thereafter. Notes it has developed a way of synthesising the treatment giving it more substantial intellectual property protection and providing a cost-effective production method.

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Bivictrix Therapeutics PLC - Macclesfield, England-based drug development company specialising in cancer treatments - Announces collaboration to manufacture antibody-drug conjugates with Abzena Ltd. Says collaboration will allow BiVictriX to cost-effectively manufacture its anti-cancer ADCs for use in pre-clinical models without the need for extensive manufacturing facilities of its own.

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Edge Performance VCT PLC - London-based venture capital trust - Says it has realised 90% of its holding in Unity Software Inc for GBP10.9 million in cash at an average price per share of GBP144. Company has retained 10% of its holding as at August 31 in Unity.

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Octopus Renewables Infrastructure Trust PLC - UK-based closed-ended investor in renewable energy assets - Says construction at Cumberhead wind farm in South Lanarkshire, Scotland has started. It will consist of 12 Nordex SE N133 turbines and have an initial expected operating life of 25 years. The total consideration of the project and subsequent construction costs is expected to be up to GBP75 million.

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MetalNRG PLC - London-based investor in natural resources and energy - Says dispute has arisen with former director, Pierpaolo Rocco. Says concerns had come to attention to MetalNRG board around the time of Rocco's departure announcement that his interests in BritEnergy Holdings LLP, partner in BritNRG joint venture with MetalNRG, had potentially been, or had become, significant.

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Pharos Energy PLC - oil & gas company with assets in Egypt, Vietnam and Israel - Says the first phase of the infill development drilling programme in TGT in Vietnam has finished, with all four wells testing at rates in line with or ahead of pre-drill expectations. The campaign was completed ahead of schedule and under budget. Notes the fourth well in the programme came on stream at an initial rate of 2,200 bopd.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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PetroTal confident in making up first-quarter production shortfall

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PetroTal receives final approval to list on Toronto Stock Exchange

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IN BRIEF: PetroTal eyes 2023 output hike; earnings over USD200 million

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