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TRADING UPDATES: Distil expects solid annual growth, revenue up 48%

Wed, 14th Apr 2021 19:23

(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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Distil PLC - London-based owner of premium spirit brands - Says its unaudited full-year volumes and revenues for the year ended March 31 showed significant year-on-year growth. Says volumes increased 30% year-on-year, revenue increased 48% while investment in brand marketing and new product development increased 60%. "The outlook for the coming year is positive as restrictions are eased, consumer confidence grows, and social activity is restored. Against this backdrop we will confidently continue to drive growth and invest in new products which offer shareholder value," says Distil.

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JKX Oil & Gas PLC - UK-based hydrocarbon exploration and production company - First quarter 2021 total production falls 17% year-on-year to 9,177 barrels of oil per day. Says decrease is due to no drilling activity taking place in Ukraine operations.

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Inland Homes PLC - Beaconsfield, Buckinghamshire-based house builder and brownfield developer - Says sale of 105 bed hotel in Bournemouth completed for GBP13.3 million. Says planning permission granted for 514 homes in Hillingdon. Says it has planning application for 1,629 homes and 28,772 square foot of commercial space to local authority in Hounslow.

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Schroder British Opportunities Trust PLC - established to invest in a portfolio of public and private equity investments consisting predominantly of UK companies - Says it has deployed around 80% of the fund received from its IPO on December 1 last year. As at 31 March 2021, the portfolio comprised of 30 companies and had a strong near term pipeline of additional private equity investments. Reports net asset value per share at March 31 of 102.16 pence, up 4.2% since IPO.

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Atalaya Mining PLC - Cyprus-based copper producer - says copper production in the first quarter of this year was 5.7% higher year-on-year at 13,979 tonnes, but slightly lower than the quarter prior "due to lower copper grades and recoveries". Says its plant processed a record 4.0 million tonnes of ore despite seven days of planned maintenance stoppage during February, which were offset by a new monthly performance record in March when 1.5 million tonnes were processed.

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MJ Hudson Group PLC - asset management consultancy headquartered in London - Enters into five-year financing agreement with Santander UK PLC, comprising of a facility up to GBP17.5 million due back in 2026. Says the facility will be used to finance the group's mergers & acquisitions pipeline, regulatory capital requirements and general corporate needs. Says that in the short term, the funds will also replace existing loans which total approximately GBP3 million.

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Iconic Labs PLC - UK-based media and technology business - Says it sent a pre-action letter to Greencastle Acquisition Ltd, Greencastle MM LLP, Greencastle Capital Ltd, Linton Capital LLP and ex-chair David Sefton, outlining a number of serious wrongdoings, including breaches of duty. "Should the company not receive a satisfactory response, the company intends to issue proceedings in the Commercial Court in London," says Iconic Labs. This follows from Iconic receiving a statutory demand from Greencastle Acquisition for GBP58,668 as well as a demand from Sefton claiming an amount of GBP256,676 "comprising certain unpaid invoices". "Such claims, which the Company believes are wholly without merit, will be vigorously defended by the company in their entirety," says Iconic Labs.

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Palace Capital PLC - investment company with portfolio of UK commercial real estate located outside of London - Says rent collection continues to be "very strong", despite the backdrop, with 92% of rents received for the December quarter and 94% collected for the financial year to 31 March. Says 82% of March quarter rents have been received. Pays quarterly dividend of 2.5 pence per share, unchanged since July quarter last year.

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Orosur Mining Inc - South American gold exploration and development company - Posts third quarter ended March 31 net loss of USD1.2 million, widening from USD344,000 year-on-year. Says it is examining new business opportunities in South America.

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Vianet Group PLC - Stockton-on-Tees, England based internet-of-things monitoring platform - Expects adjusted operating loss for year ended March 31 of around GBP700,000, and GBP1.1 million of operational cash generation. Says second half was slightly better than the first. "We believe there are significant growth opportunities for the group as the UK emerges from lockdown and Covid-19 restrictions are lifted," says Vianet.

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Strategic Minerals PLC - London-based mineral company with operations in the UK, the US and Australia - Says annual Cobre, which is in New Mexico, US, magnetite sales continue to exceed USD3 million, with revenue growing 12% year-on-year. " Sales remained robust and the positive annual growth highlights both the strong underlying demand and the Southern Minerals Group team's ability to maintain "contactless" operations, therein protecting both our personnel and clients," says Strategic Minerals. SMG is a wholly-owned subsidiary.

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Phoenix Copper Ltd - North American focused base and precious metals producer - Announces the addition of 58 unpatented lode claims and 56 unpatented mill site claims to the Empire mine in Idaho, US. Addition increases land holdings by 1,160-acres.

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Ceiba Investments Ltd - investment firm dedicated to investing in Cuba, with interests in the commercial and tourism real estate sectors - Announces listing of EUR25 million 10% senior unsecured convertible bonds due 2026.

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Resolute Mining Ltd - Australian gold miner - Says mining lease for Bibiani gold mine in Ghana restored following its termination in late March by the Ghanaian Minister of Lands & Natural Resources Samuel Jinapor.

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Watkin Jones PLC - residential property developer - Says adjusted earnings before interest and tax for the first half ended March 31 are expected to be in line with its expectations, but slightly below the prior year. "We anticipate our profit for the first half of the year to be in line with our expectations and slightly below last year, which was before the onset of the disruption caused by the pandemic. The fundamentals supporting the markets for high quality build to rent and student accommodation assets remain strong and with the continued progress we have made in the first half of the year, gives us confidence in our future trading," says CEO Richard Simpson.

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By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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