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TRADING UPDATES: Keystone Law and Checkit post annual revenue growth

Thu, 29th Apr 2021 17:33

(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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Checkit PLC - Cambridge-based workflow management firm - For the year ended January 31, pretax loss narrows to GBP5.3 million from GBP9.1 million the year before, as revenue grows year-on-year to GBP13.2 million from GBP9.8 million, driven by 46% growth in the annual recurring revenue run rate at GBP5.7 million from GBP3.9 million, due to new business and the conversion of healthcare contracts. Looking ahead, Checkit has made a strong start to the current financial year.

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Keystone Law Group PLC - London-headquartered law firm - For the year ended January 31, pretax profit rises 3.4% to GBP5.4 million from GBP5.2 million the year before, driven by an 11% year-on-year increase in revenue to GBP55.0 million from GBP49.6 million. Declares final dividend of 10.6 pence per share, bringing total ordinary payout to 17.2p, a sharp rise from 3.2p the prior year. Looking ahead, notes strong start to financial year with solid activity levels from existing lawyers.

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HSS Hire Group PLC - Manchester-based equipment rental firm - For the year ended December 26, pretax loss widens to GBP23.6 million from GBP5.8 million the year before, as revenue declined 18% year-on-year to GBP269.9 million from GBP328.0 million, driven by a 21% drop by the Rental segment due to the pandemic. Looking ahead, HSS makes strong start to new financial year, with first quarter earnings before interest, tax, depreciation and amortisation ahead of the same period the year before.

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Immupharma PLC - London-based pharmaceutical company - For 2020, pretax loss widens to GBP7.2 million from GBP6.7 million, due to an increase in finance costs, more than offsetting revenue growth to GBP126,667 from GBP77,925 the prior year.

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Xeros Technology Group PLC - Rotherham, UK-based developer and licensor of technologies which reduce the environmental impact and cost of clothing and fabrics - For 2020, pretax loss narrows to GBP7.6 million from GBP18.5 million, due to a halving in administrative costs through the reduction of staffing and legal expenses. However revenue plunged 79% year-on-year to GBP385,000 from GBP1.8 million, reflecting the full year effect of the disposal of direct operations and a transition to a licensing model.

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Shield Therapeutics PLC - commercial stage pharmaceutical company - For 2020, pretax loss narrows to GBP1.9 million from GBP9.1 million the year before, driven by a sharp rise in revenue to GBP10.4 million from GBP719,000, driven by an upfront payment of USD11.4 million received from ASK Pharm on the signing of the Chinese licence agreement.

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Proactis Holdings PLC - Wetherby, England-based cash management software company - For the six months ended January 31, pretax loss widens to GBP3.0 million from GBP2.2 million, as revenue declined 2.9% year-on-year to GBP23.8 million from GBP24.5 million, driven by net customer losses in prior years and the effect of Covid-19 on the group's implementation services and volumes-based contracts, which are expected to normalise as the pandemic ends. Total contract value for the period drops to GBP6.7 million from GBP7.5 million.

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Dillistone Group PLC - recruitment software supplier - For 2020, pretax loss narrows to GBP914,000 from GBP1.2 million the year before, driven by a fall in administrative costs, more than offsetting a 21% fall year-on-year in revenue to GBP6.3 million from GBP8.0 million, attributed to a sharp hit from the Covid-19 pandemic. Looking ahead, reports better than expected income orders in the first quarter of 2021.

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Woodbois Ltd - African focused sustainable forestry and timber trading - For 2020, pretax loss widens to USD4.2 million from USD1.9 million the year before, driven by a drop in revenue to USD15.3 million from USD19.5 million amid challenging market conditions. Expects to report record year in 2021, as the Primultini sawmill line is due to become operational in a few weeks. Also on Thursday, announces acquisition of two new veneer lines for its Gabon operations from CEMA Bois De L'Atlas for EUR800,000.

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AEX Gold Inc - Greenland-focused gold miner - For 2020, net loss widens to CAD12.3 million from CAD5.1 million the year before, driven by a doubling in exploration and evaluation expenses, linked to the Nalunaq property. Looking ahead, finds potential for significant expansion and derisking of Nalunaq project through a 20,000 to 30,000m drilling campaign in 2021.

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Intelligent Ultrasound Group PLC - Cardiff, Wales-based artificial intelligence ultrasound software firm - For 2020, operating loss narrows to GBP4.5 million from GBP4.6 million the year before on lower costs, in spite of a 13% decline in revenue to GBP5.2 million from GBP5.9 million. Revenue decline is driven by a 13% drop from the Simulation division, as Covid-19 made its effect on the group's reseller network in Europe and Asia.

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Immotion Group PLC - Manchester, England-based entertainment company - For 2020, pretax loss narrows to GBP4.8 million from GBP5.5 million the year before on lower administrative costs, despite a decline in revenue to GBP2.8 million from GBP3.6 million, driven by the lockdowns enacted in response to the Covid-19 pandemic. Looking ahead, despite tough January and February, the group's revenue in March was GBP440,000 and is set to grow further in coming months.

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C4X Discovery Holdings PLC - Manchester-based developer of drug discovery engine - For the six months ended January 31, pretax loss narrows to GBP4.5 million from GBP4.9 million the year before, due to lower R&D and administrative costs, while generating no revenue for the period, or the prior year.

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RTW Venture Fund Ltd - investment company focused on the life sciences sector - As at December 31, net asset value per share at USD1.9595, up 54% from USD1.2733 the same date the year before. As at the end of 2020, company holds 22 core portfolio companies, compared to seven the prior year.

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Troy Income & Growth Trust PLC - invests predominantly in UK equities - For the six months ended March 31, net asset value total return at 2.6%, compared to 18.5% total return from FTSE All-Share Index. As at March 31, net asset value per share at 72.68 pence, up from 68.62p the same date the year before. Share price was 71.60p, reflecting a 1.5% discount to net asset value.

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Panther Metals PLC - company focused on mineral exploration in Canada and Australia - For 2020, pretax loss narrows to GBP668,198 from GBP749,948, due to a reduction in IPO costs, in spite of generating no revenue for the year. During the period, acquired additional ground on Big Bear project following positive field work results.

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Donegal Investment Group PLC - Donegal, Ireland-based agricultural firm - For the six months ended February 28, pretax profit rises to EUR2.7 million from EUR1.6 million the year before, due to a fall in administrative costs, and in spite of 11% to GBP26.4 million from GBP29.6 million. This was due to Covid-19 restrictions hurting demand for its dairy business while seed potato prices dipped marginally.

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Aberdeen Standard European Logistics Income PLC - investment firm - As at December 30, net asset value per share rose 8.1% year-on-year to EUR1.20 from EUR1.11, driven by a rise in portfolio value to EUR425.2 million from EUR348.5 million. Declares dividend of 5.64 euro cents per share, down from 5.75 cents the prior year.

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Aberdeen New Thai Investment Trust PLC - investment firm - For the year ended February 28, net asset value total return at 1.2%, compared to Stock Exchange of Thailand, which returned 10.1%. As at the end of February, net asset value per share was 506.17 pence, down 2.7% from 520.22p the same date the prior year. Dividend per share remains in line at 19.0p.

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VPC Specialty Lending Investments PLC - provides asset-backed lending to businesses with aim of long-term, sustainable income generation - As at December 30, net asset value per share was 95.72 pence, up from 93.33p the same date the year before.

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Resolute Mining Ltd - operator of Syama gold mine, Mali - For the three months ended March 31, gold production declines to 85,668 ounces from 110,763 ounces the same period the year before, as do sales to 83,400 ounces from 102,008 ounces. In addition, average realised price rose substantially to USD1,729 per ounce from USD1,407 the prior year.

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Castillo Copper Ltd - base metal explorer focused on Australia and Zambia - Assay results for Mt Oxide project confirm major copper discovery at Big One deposit, with two 40 to 44 metre-wide intercepts from surface with a grade of up to 16.7% copper.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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