(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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Knights Group Holdings PLC - Newcastle-under-Lyme-based legal and professional services - Expects revenue for financial year ended April 30 of around GBP125.5 million, up 22% on GBP103.2 million the year before. Underlying pretax profit seen at "minimum" of GBP18.1 million, down from GBP18.4 million the year before. Also on Thursday says it has agreed to buy Coffin Mew LLP, an independent law firm in the south east of England, for GBP11.5 million.
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Gym Group PLC - Croydon-based low-cost gym chain - Sets out targets for 2025 at Capital Markets Day. Expects adjusted earnings before interest, tax, depreciation and amortisation, less normalised rent, between GBP95 million and GBP105 million and pretax profit between GBP40 million and GBP50 million. Adjusted Ebitda less normalised rent in 2021 amounted to GBP5.7 million in 2021 and pretax loss amounted to GBP44.2 million, though this was trimmed from GBP47.2 million in 2020. In addition, company eyes having over 300 sites under 2025 aim, up from 206 at the moment.
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Young & Co's Brewery PLC - Wandsworth, south London-based pub chain - For the year ended March 28, swings to pretax profit of GBP42.1 million from a loss of GBP44.5 million the year before, on revenue which hikes to GBP309.0 million from GBP88.0 million, driven by a sharp rise in sales despite storms and the Omicron variant affecting the company's restricted trading. Recommends final dividend of 10.26 pence per share, brining total payout to 18.81p, compared to none the prior year. Looking ahead, for the first 13 weeks of the current financial year revenue grows 17% against pre pandemic levels of 2019.
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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Signs revenue sharing pact with Milwaukee County Zoo, Wisconsin for installation of 40-seat virtual reality site. "Milwaukee County Zoo boasts an annual footfall of 1.3 million visitors, with peak summer days seeing over 10,000 visitors," Immotion says. "Work will commence immediately with a target opening date of the second half of July 2022 and the contract will continue until 31 December 2026." Company adds trading continues in line with expectation, with revenue of GBP870,000 in Location Based Entertainment arm in April, bringing total revenue for first four months of year at unit to GBP2.7 million.
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Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company focused on the treatment of cancer and fibrotic disease - Raises GBP34.3 million from placing of 58.1 million shares at 59 pence each. Proceeds from the placing will go towards funding the progression of its clinical development and research stage programmes to important value inflection points through 2023, including the Porcupine and Porcupine 2 clinical trials, as well as a clinical trial with RXC007.
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Belluscura PLC - London-based medical device developer - Says three additional US patents have recently issued, lifting number of issued and pending patent applications to 30. New patents cover technology in extracorporeal membrane oxygenation, continuous positive airway pressure and consumer replaceable molecular sieve technology.
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Valereum PLC - Gibraltar-based company, focused on linking US dollar and sterling into the world of crypto currencies - Says work to secure 90% stake in Gibraltar Stock Exchange continuing. "Currently Valereum holds a fixed charge over shares totalling 50% of the GSX and is working closely with GSX management to plan the transition. Our lawyers, Hassans, are working with the Gibraltar Financial Services Commission to complete the regulatory aspects," company adds.
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Braemar Shipping Services PLC - shipbroker and shipping investment advice company - Wins seven-year contract with UK Ministry of Defence. Braemar to provide shipbroking services across all commercial maritime sectors. "Under the contract, Braemar will provide the MOD with access to its market-leading and highly regarded S&P, chartering and research departments across Braemar's 14 global offices. The seven-year contract encompasses all aspects of S&P, as well as spot and period chartering for routine and emergency response requirements globally," Braemar adds.
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Wishbone Gold PLC - precious metals trading and exploration company with assets in Australia - Completes heritage survey at Red Setter copper and gold project in Australia. Survey did not find any heritage sites at Red Setter. "The additional surveys have increased access to peripheral targets beyond those already cleared, where drilling will start in the next few weeks," Wishbone says.
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Chariot Ltd - Devon, England-based Africa-focused transitional energy company - Raises GBP20.4 million through placing and subscription of 113.3 million shares at 18 pence each. Proposes to also raise GBP3.2 million in open offer, at ratio of 47 shares to every one existing share held.
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Horizonte Minerals PLC - nickel company focused on Brazil - Commences construction at Araguaia nickel project in Brazil. Horizonte adds: "This key milestone marks the transition of the project from development to the construction phase. This Tier 1 project has a 24-month construction timeframe with Stage 1 (first line) target production of 14,500 tonnes per annum of nickel. Araguaia will be a large high-grade, scalable, low-cost producer, with a long mine life and will be a low-carbon source of ferronickel."
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Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Sunrise notes it holds 20 mining claims, surrounding two batches of historic Myrtle gold and silver mine in Nevada, US. Sunrise says reconnaissance field mapping and sampling carried out at both set of claims. Executive Chair Patrick Cheetham says: "The assay results from reconnaissance sampling of the Myrtle Project are very promising with different styles of mineralisation developed around what appears to be an intrusive related gold system."
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Botswana Diamonds PLC - exploration & project development company focused on Botswana and South Africa - Reports promising results from geophysics survey at Sekaka Diamonds Pty Ltd licenses in Botswana. Chair John Teeling comments: "These results strongly support our view that other kimberlites remain to be found in the vicinity of our 100% owned KX36 diamond discovery. If these anomalies prove to be diamondiferous kimberlites it will enhance the commercial prospects of the existing KX36 discovery. We will now do follow up work to target drill sites."
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Great Western Mining Corp PLC - gold, silver and copper project developer focused in Nevada, US - Announces start of its 2022 drilling campaign. Has contracted a reverse circulation rig for a drill programme of around 3,350 metres, which has now commenced at the Southern Alteration Zone in the Rock House group of prospects. "We have a busy drilling season now under way on several of our prospects and will keep shareholders informed as we make progress," says Chair Brian Hall.
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Victoria Oil & Gas PLC - London-based oil and gas company - Says first quarter average daily gross gas sales rate was 5.5 million standard cubic feet per say, up from 5.3 million scf per day in fourth quarter. Gross volumes amounted to 4,691 barrels, down quarter-on-quarter from 5,585. Chief Executive Roy Kelly says: "Despite the post-period arbitral award, and the suspension of trading in VOG shares whilst the company is in a position of financial uncertainty, it remains very much business as usual at the operational level whilst we continue to earnestly seek a post-award settlement. Our Russian asset is of course not immune from global events and the international sanctions on the country, though we continue to receive encouraging interest in the sale process."
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Bluejay Mining PLC - mineral exploration and development in Greenland and Finland - For 2021, pretax loss widens to GBP2.7 million from GBP2.5 million, as a result of higher administrative costs. During the year, final permits were in place to start production at the Dundas Ilmenite project in Greenland, and the first field season was completed for the Thunderstone project.
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Ondine Biomedical Inc - Vancouver, Canada-based life sciences company focused on photodisinfection-based therapies - For 2021, net loss widens to CAD50.1 million from CAD16.3 million the year before, due mainly to a CAD31.6 million loss on a debt settlement, despite revenue rising to CAD2.6 million from CAD1.8 million, due to growth in the enterprise sector as the company implements its nasal photodisinfection for preventing the spread of Covid-19 in workplace situations.
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By Eric Cunha; ericcunha@alliancenews.com
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