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(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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Alpha Financial Markets Consulting PLC - London-based consultancy for asset and wealth management industry - Reports continued strong momentum in first half, with revenue jumping 44% to GBP68.4 million. However, pretax profit dips to GBP4.2 million from GBP4.5 million as finance expenses rise to GBP1.2 million from GBP568,000. Adjusted earnings before interest, tax, depreciation and amortisation, which excludes finance expenses, increases to GBP15.4 million from GBP10.1 million. Declares interim dividend of 2.90p per share, up from 2.10p a year ago. Following strong half, now expects full-year results ahead of market expectations. "The group enters the second half in robust shape, and we are delighted to upgrade our full-year expectations. We look forward to the second half with confidence," says Chief Executive Euan Fraser.
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Gateley Holdings PLC - Birmingham-based legal and professional services group - Is "delighted" with strong performance in six months to October 31, with revenue up 23% and expected to be not less than GBP62.0 million. "Gateley continues to benefit from lower-than-normal levels of discretionary expenditure which is expected to last at least through the remainder of the financial year," company says. Underlying adjusted pretax profit to be at least GBP8.1 million for period, up from GPB7.5 million year-on-year. Looks forward to second half with confidence.
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Arrow Exploration Corp - Calgary, Canada-based oil and gas company with projects in Columbia and Canada - Total natural gas and crude oil revenue, net of royalties, rises to USD1.7 million in three months to September 30 from USD207,934 year-on-year. Net loss narrows to USD21,781 from USD1.4 million. Says third quarter average corporate production was 575 barrels oil equivalent per day, up 74% on the second quarter. "The increase in production quarter-over-quarter was largely attributable to a full quarter of production following the re-start of the company's Oso Pardo field in late-Q2 2021, and its share of increased production from Ombu (Capella), both located in Colombia, as well as an increase in its share of natural gas production from certain Canadian assets," it explains.
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AEX Gold Inc - exploration licences in Greenland, including Nalunaq gold mine - Net loss for three months to September 30 CAD7.0 million, widened from CAD4.6 million a year ago. This is driven by exploration & evaluation expenses rising to CAD4.2 million from CAD2.9 million, and general & administrative expenses growing to CAD3.0 million from CAD1.1 million. Says it had "strong cash balance" at period end of CAD37.9 million as at September 30 - though this is down from CAD61.9 million at end of 2020.
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Templeton Emerging Markets Investment Trust PLC - emerging markets investor - Net asset value total return for half-year to September 30 is minus 7.5%, underperforming the MSCI Emerging Markets Index which declines 1.0% over same period. Says period was "challenging". "While it is naturally disappointing to report underperformance over the half year, in the most recent annual report I noted that at the March 2021 year-end our Investment Manager had outperformed the benchmark index for a fifth consecutive year and over the longer term returns remain strong," company explains. NAV per share stands at 200.3p at September 30, down from 219.4p at end of March but up from 189.3p a year ago. Maintains interim dividend at 1.00p.
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MyHealthChecked PLC - Cardiff-based healthcare company and fertility tracking firm - Launches two home testing services for travellers entering and departing the UK. Will start selling rapid antigen test and verification service for arrivals into England on Wednesday, followed by a Fit to Fly rapid test for travellers leaving the UK launching next week.
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Block Energy PLC - oil and gas developer and producer in Georgia - Says gas sales from well KRT-39, in Block XIB, have commenced. Gas sales start after installation of two gas separators and the construction of a 4.2 kilometre pipeline to the company's early production facility. Adds that preparatory operations for JKT-01 sidetrack making good progress, well to be spud early next month.
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PetroTal Corp - Texas, US-based oil & gas development and production company - Says "community social disruption" hitting operations in Bretana oil field. "The social unrest situation evolved quickly near the barge loading area of the field. The oil field remains safe and producing; however, protestors are currently blocking access to the dock, preventing the company from loading oil barges. The civil unrest is being conducted by a group seeking assistance from the government of Peru," company explains. Firm will curtail production to manage oil tank storage capacity but if situation persists, full field shut down may be needed within a few days.
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Oriole Resources PLC - exploration company operating in west Africa - Says four diamond holes completed for 401 metres at Madina Bafe to test the main north-east trending corridor. Is pleased that IAMGOLD has shifted focus for remainder of its year 4 budget towards further exploration at Fare, and has recently completed a 2,160 metre reverse circulation drill programme in 18 holes. "We believe the results seen to date at Fare indicate that it offers ample space and grade for the development of a robust resource and we look forward to seeing the progress on this additional drill programme," says Oriole Chief Executive Tim Livesey.
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Gama Aviation PLC - Farnborough, England-based aviation services company - Agrees sale of its 20% stake in China Aircraft Services Ltd, a provider of services to commercial airlines at Hong Kong Airport, to Hutchison CCF Investments Ltd. Consideration for stake is USD2.0 million, and proceeds will be used to support ongoing strategic investments in its core businesses. Notes purchaser is an associate of Gama's largest shareholder, Hutchison Capital Holdings Ltd.
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Windar Photonics PLC - Copenhagen, Denmark-based light detection and ranging optimization systems developer - Receives first volume order under global distribution agreement with Vestas Wind Systems AS. Order is for 110 WindEye systems for a wind site located in North America, with delivery expected to commence during the first quarter of 2022. Windar says that over the last year, it has been focused on optimising the performance of its solution for the power improvement of V82 and NM82 wind turbine models.
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MGC Pharmaceuticals Ltd - Perth, Australia-based bio-pharmaceutical company - Completes production of EUR650,000 order of ArtemiC from European nutraceuticals distributor, Swiss PharmaCan AG. The full order value will be received by the company by early December, which would place it on track to deliver its best quarter and half yearly revenue result as at December 31.
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Southern Energy Corp - North American gas-weighted producer focused on growth - Raises USD10.1 million through offering of 254.3 million shares. Proceeds to be used to drill up to three horizontal Selma Chalk wells in the Gwinville field, anticipated to begin in the fourth quarter. Adds it has completed a series of low-cost well recompletions and workovers during the third and fourth quarters. Work programme had overall cost of USD800,000 and added around 208 barrels of oil equivalent per day of production.
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United Oil & Gas PLC - producer and explorer in the Mediterranean, Caribbean and Latin America - Says request for a two-year extension for the Walton Morant Licence, Jamaica, has been granted by the Jamaican Cabinet. Licence to now run to end of January, 2024. "The extension allows us to continue the farm-out campaign with confidence as we look for a strategic partner(s) to unlock the vast potential in this region," says Chief Executive Brian Larkin.
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By Lucy Heming; lucyheming@alliancenews.com
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