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Pin to quick picksRed Rock Resources Share News (RRR)

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TRADING UPDATES: Numis expects interim revenue rise; Dods profit swing

Tue, 30th Mar 2021 20:33

(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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Numis Corp PLC - London-headquartered stockbroker - For the six months ending March 31, expects to report revenue of GBP100 million, up from GBP63.1 million the same period the year before, as Investment Banking benefits from favourable market conditions, supporting an increase in IPOs and M&A activity, when compared to the prior period which was hurt by the pandemic. Equities also expected to deliver revenue growth on rises in execution commissions. Looks to second half with confidence.

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Dods Group PLC - business intelligence, media and technology resourcing - For the year ending March 31, adjusted earnings before interest, taxes, depreciation and amortisation is set to be at least GBP1.8 million, compared to loss of GBP200,000 in the first half. Dods Technology achieves double digit net income growth in second half compared to the first, due to increased spend from existing clients and new project wins. Also plans to seek approval for name change to Merit Group PLC, as well as simplify its share capital structure through a reorganisation.

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Good Energy Group PLC - Chippenham, England-based renewable electricity supplier and energy services provider - Maintains cash balance as at December 31 at GBP18.1 million, compared to GBP18.2 million as at June 30, while customer numbers remain stable since September.

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Pressure Technologies PLC - Sheffield, England-based specialist engineering for pressure containment and control - Trading for first half to date remains in line with management expectations, with the Chesterfield Special Cylinders prospering on a strong and diverse order book, while Precision Machined Components is pressured by a weak oil & gas market due to pandemic. However, order intake for March is set to reach highest levels since July 2020.

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Bank of Cyprus Holdings PLC - Cypriot banking firm - For 2020, pretax loss narrows to EUR166.9 million from EUR180.6 million the year before due to smaller interest expenses and staff costs, despite revenue declining to EUR765.1 million from EUR910.6 million, through drops in interest and fee & commission income. Gross loans on a proforma basis totalled EUR10.91 billion from EUR12.82 billion, while customer deposits dipped to EUR16.63 billion from EUR16.69 billion. Common equity tier 1 ratio stands at 15.2% from 14.8%.

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ADES International Holding PLC - MENA-focused drilling oil and gas wells company - For 2020, pretax profit drops to USD31.0 million from USD40.9 million the year before, on revenue which declined 5.4% year-on-year to USD452.1 million from USD477.8 million, driven by lower utilisation rates at 89% for 2020 from 97% in 2019. Meanwhile, net profit is down 30% at USD22.0 million from USD31.5 million. Enters 2021 with cautious optimism due to recovering oil prices, and early signs of recovery buoyed by the global vaccination campaign.

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Pantheon Resources PLC - AIM-quoted oil & gas exploration company - For the six months ended December 31, pretax loss widens to USD4.1 million from USD1.8 million the year before, due to higher administrative expenses and a one-off share option charge of USD1.6 million. During the period, completed a fundraising of USD30.1 million, and one January announced the spudding of Talitha A well, which has been drilled to a target depth of 10,456 feet. Looking ahead, Alaska has been refocused as the primary asset while East Texas has been formally discontinued.

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Silence Therapeutics PLC - novel RNA therapeutics developer with offices in London and Berlin - For 2020, pretax loss widens to GBP35.8 million from GBP22.7 million the prior year, as R&D costs rose to GBP20.2 million from GBP13.3 million in relation to company's SLN360 and SLN124 proprietary programmes. This was in spite of revenue jumping to GBP5.5 million from GBP244,000, driven by the partial recognition of milestone payments and recharges relating to the collaboration of Mallinckrodt, AstraZeneca PLC and Takeda Pharmaceutical Co Ltd, as well as royalty income from Alnylam Pharmaceuticals.

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Aura Energy Ltd - Australia-based minerals company -For the six months tended December 31, pretax loss widened to AUD1.7 million from AUD1.2 million the year before, due to higher expenses and a reduction in revenue to AUD30,452 from AUD256,542, due to a lack of activity from the Tiris project in Mauritania and the Haggan battery metals project in Sweden.

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Red Rock Resources PLC - gold explorer in Kenya and Australia, copper-cobalt in DRC - For six months ended December 31, posts loss of GBP430,000 compared to profit of GBP337,000, as administrative expenses rose to GBP472,000 from GBP282,000, as well as project development costs of GBP111,000, related to Zlata Bana and the Vector project in Congo.

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Logistics Development Group PLC - AIM-listed cash shell - For the year ended November 30, pretax loss narrows sharply to GBP7.9 million from GBP134.5 million the year before, due to exceptional costs of GBP128.8 million following an impairment of investments in subsidiaries and intercompany receivables.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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