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Pin to quick picksResidential Sec Share News (RESI)

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Share Price: 94.40
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Residential Secure Income REIT is an Investment Trust

To provide shareholders with an attractive level of income and capital growth from investing in residential asset classes that comprise the stock of registered UK social housing providers, Housing Associations and Local Authorities.

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TRADING UPDATES: IGas and Tasty post full-year revenue declines

Wed, 7th Apr 2021 12:31

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



Tasty PLC - London-based casual dining restaurant operator - For the year ended December 27, pretax loss widens to GBP12.6 million from GBP266,000, as revenue falls 46% to GBP24.2 million from GBP44.6 million the year before, due to Covid-19 related restrictions on trading. Looking ahead, trading outside of lockdown has been "encouraging".



IGas Energy PLC - oil & gas producer onshore in UK - For 2020, revenue is down 47% to GBP21.6 million from GBP40.9 million, though pretax loss narrows to GBP44.1 million from GBP59.1 million, due to a much lower exploration asset write off compared to the year before, despite an impairment charge of GBP38.5 million on goodwill. For the year, net production averaged 1,907 barrels of oil equivalent per day, down from 2,325 barrels per day the year before, but in line with guidance. For 2021, expects net production to be between 2,150-2,350 boepd.



AdEPT Technology Group PLC - information technology provider based in London - Following a strong performance in the fourth quarter, expects earnings before interest, tax, depreciation and amortisation for the year ended March 31 to be in line with market expectations, alongside revenue. Also signs enlarged banking facility with NatWest and Bank of Ireland, providing GBP70 million in senior debt for three years, expanded from the GBP40 million credit facility.



Wynnstay Group PLC - London-based property investor - As at March 25, total fair value of properties stands at GBP34.0 million, up 5.8% from the same date the year before. Also signs construction contract for development adjacent to existing property at Bedford Road, Petersfield. Development to comprise terrace of three trade counter units totalling 12,750 square feet.



Gooch & Housego PLC - Ilminster, Somerset-based maker of optical components - As at March 31, order book stands at GBP92.8 million, up 1.3% from GBP91.7 million the same date the year before. For six month period, reports recovery in the industrial laser sector, with strong demand for fibre optics and couplers, as well as Defence markets remaining robust.



Helical PLC - London-based property investor - During second half of financial year ended March 31, reports collection of 82.8% of final quarter rents due, and expects to collect between 91% and 95% by the end of June.



Iomart Group PLC - Glasgow-based operator of data centres - For the year ended March 31, expects Ebitda down 4.6% at GBP41.5 million from GBP43.5 million the year before, on revenue of GBP112 million, a dip from GBP112.6 million, due to second half recovery being hindered by the third UK national lockdown.



Intercede Group PLC - cybersecurity software firm with offices in US state of Virginia and Leicestershire, England - For the year ended March 31, expects revenue to be around GBP11.0 million, in line with market expectations and up 5.8% from GBP10.4 million the year before. Growth reflects a strong performance in the US, due to follow-on orders and new contract wins.



finnCap Group PLC - London-based stockbroker - For the year ended March 31, total income is set to be GBP47.3 million, up 83% from GBP25.9 million the year before, driven by more than doubled transactions, and a sharp rise in Institutional Stockbroking and M&A advisory.



Vp PLC - Harrogate-based equipment rental firm - Since interim results were published on December, trades in line with management expectations despite constrained economy activity, with revenue recovering to 95% of pre-Covid levels during the period ended March 31. For the year, net debt has fallen by 22% to GBP124 million as at the end of March from GBP160 million at April 1, 2020.



Argo Blockchain PLC - London-based cryptocurrency miner - In the month of March, mines 165 bitcoin, compared to 129 in February, bringing the total amount for the first quarter of 2021 to 387 bitcoin. As a result, revenue for March rises to GBP6.6 million from GBP4.3 million, bringing its total revenue for the quarter to a record GBP13.4 million.



Block Energy PLC - oil and gas development and production in Georgia - For 2021 as a whole, sets target to drill two wells, each targeting initial production of 600 barrels of oil equivalent per day, and also plans to spud a third well. For the first quarter, produces 44,394 barrels, leading to the sale of 26.3 million barrels of oil for USD1.4 million, and 38.4 million cubic feet of gas for USD125,000.



CyanConnode Holdings PLC - Cambridge, England-based narrowband radio frequency smart mesh networks firm - For the year ended March 31, revenue expected to be 2.5 times the size of GBP2.5 million, which was reported for the 15 months ended March 31, 2020. Ships 481,000 modules to customers during the year, more than doubled from 115,000 the prior period.



Woodbois Ltd - African focused sustainable forestry and timber trading - For the first quarter of 2021, revenue rises 44% quarter-on-quarter to USD4.6 million, due to a 44% rise in veneer output to 822 cubed metres, and an 83% increase in sawn timber production to 3,700 cubed metres. Mentions that Mozambique business is unaffected by militant events in the north of the country, and should not impact 2021 performance. Expects 2020 revenue to be down 22% year-on-year at USD15.3 million, while gross profit more than halves to USD1.2 million from USD2.8 million in 2019.



PetroTal Corp - Peru-focused oil and gas development and production firm - Commences 2021 drilling programme by spudding the first well 7D on March 29, and expects completion in the first week of May. For the first quarter of 2021, production averages 7,300 barrels of oil per day. Looking ahead, once 7D drilling is complete, the second water disposal well 3WD on the western flank of the structure.



Residential Secure Income PLC - investor in affordable shared ownership, retirement and local authority housing - Due to improved earnings position and operational improvements, expects to reach full dividend coverage in July. As at March 31, Shared ownership portfolio comprises 549 homes, generating annual rent roll of GBP2.2 million. Retirement portfolio consists of 2,222 homes, with a net annual rent roll of GBP6.3 million.



By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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