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(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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Datalex PLC - Dublin-based software company in digital commerce for travel retail - Strikes three-year deal renewal with Air China Ltd, bolstering firm's position in Asia Pacific region. "As part of the renewal, Air China will migrate to the latest version of Datalex's China shopping and pricing product, which brings greater efficiencies to the airline such as improved speed to market of new features and releases. As well as achieving ongoing cost and time savings from operational efficiencies, this future-proofed product provides Air China with greater tactical flexibility and a faster market reaction time, and more choice for the airline's customers," Datalex says.
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SpaceandPeople PLC - retail, promotional and brand experience specialist - Extends commercialisation agreement with Network Rail Ltd. Deal is for supply of exhibitions, events and distribution activity until September 30. "This will mean that our relationship with Network Rail will continue during the anticipated tender process for a new agreement," SpaceandPeople adds. "The agreement continues to cover Network Rail's portfolio of major London and regional railway stations as well as Victoria Place Shopping Centre in London, providing access to many of the highest footfall venues in the United Kingdom."
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LendInvest PLC - London-based non-bank mortgage lender - Expects results for year ended March 31 in line with expectations. Says platform assets under management rise 21% on-year to GBP2.59 billion at March 31, up 6.4% from half-year. Funds under management up 45% yearly to GBP3.61 billion, up 4.8% from half-year level. "We have continued to deliver on the commitments we laid out at our IPO. We are growing and optimising our FuM accessing strong demand from some of the world's largest and most sophisticated financial institutions. We are expanding our Platform AuM and we are continuing to invest in our technology platform to further strengthen our competitive advantage as a technology-driven lending and funding platform for mortgages," Chief Executive Officer Rod Lockhart says.
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Avation PLC - aircraft leasing firm - Sells 10-year old ATR 72-600 aircraft at a price above book value. Reduces firm's off-lease aircraft inventory to just one aircraft. "This aircraft has been off-lease since its redelivery from Virgin Australia in 2020. Avation's technical team has managed the storage and now major maintenance checks required to deliver the aircraft into commercial operation," aviation says.
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Vp PLC - equipment rental company - Hails "good progress" in core markets of housebuilding, construction, infrastructure and energy. Expects results for full-year ended March in line with board expectations. "The UK division has continued to make good progress and has seen the benefit of a stronger civil engineering and infrastructure market. Whilst general construction sector demand shows some level of volatility it is stable overall, though the group has seen some regional market weakness in the South East of England in recent months. Whilst our housebuilding customer base has, as anticipated, reduced volumes since the start of the new calendar year, the position is stable for Vp and the group remains busy in that sector," Vp adds. Says in UK arm, it has "successfully negotiated price increases" with customers to fight inflationary pressure.
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Literacy Capital PLC - investment trust focused on opportunities to invest for the long-term in growing private UK businesses - Acquires minority stake in Cadro Technologies Ltd, a wealth and investment management company. "Headquartered in London, Cadro combines wealth and investment management services with powerful new technology, providing private clients and institutions with a more modern experience and better outcomes," Literacy Capital adds. "Literacy Capital is investing to support and accelerate the growth of the business. Many wealth and investment managers are highly traditional and have not adapted to cater to the needs of modern high-net-worth individuals and institutions. The Cadro team has a proven track record of managing these types of clients and their investments, and a strong awareness of the evolving needs of the industry."
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Angle PLC - medical diagnostics company - Signs pharma services pact with Crescendo Biologics Ltd, a new customer. Crescendo is a clinical stage immuno-oncology company. It will use Angle's Portrait Flex assay in an ongoing Phase 1 clinical trial.
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Synergia Energy Ltd - developer of natural gas assets in India - Jet pump artificial lift equipment for the C-77H well in Cambay on schedule to be delivered in late May to early June. "The jet pump equipment will have sufficient capacity to lift not only the fluids from the two currently producing re-frac zones, but also the fluids associated with the original four fracked zones that are currently isolated with a bridge plug. Consequently the Company plans to remove the bridge plug and re-connect the four original zones when the well is re-completed with the jet pump artificial lift system," Synergia says. Says two producing C-77H re-frac zone producing on plateau at 150,000 standard cubic feet per day. "The company anticipates that production from these two zones will be enhanced by the jet pump installation and this enhanced production will be further increased by the contribution of the re-connected original four zones in the C-77H well," it adds. Says farm-out talks for Cambay ongoing, unaffected by lift implementation.
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Savannah Energy PLC - energy company, with projects in Cameroon, Chad, Niger and Nigeria- Revenue in first quarter grows 26% on-year to USD147.6 million. "This morning's update clearly demonstrates the strength and potential of our business and the positive impact we are making in our host countries," CEO Andrew Knott says.
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Castillo Copper Ltd - base metal explorer primarily focused on copper across Australia and Zambia - Appoints Australian Nuclear Science & Technology Organisation to perform metallurgical test-work on six samples taken from BHA project. "This is an important step towards advancing the viability of the BHA project's east zone rare earth elements potential and securing interest from prospective development partners," Castillo says.
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By Eric Cunha, Alliance News news editor
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