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Share Price: 1.60
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TRADING UPDATES: UK housing market boosts Belvoir; IOG spuds Blythe

Tue, 03rd Aug 2021 12:03

(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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Belvoir Group PLC - Lincolnshire, England-based property franchise group - Says revenue rises 41% annually in six months to June 30 and up 53% from pre-virus levels. Management service fees from residential sales, its core franchise revenue stream, more than doubles as housing transactions in UK soar. Management service fees from lettings rise 13% year-on-year. In financial services arm, revenue rises 51% as unit "clearly benefitted from the demand for mortgages to fund house purchases". Belvoir adds: "Given the group's growth in the first half over both 2019 and 2020, its earnings enhancing investments to expand both the property and the financial services divisions, and the current market conditions reflecting a sustained underlying demand for homes and mortgages, the board is confident of achieving a strong trading performance for the full financial year."

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IOG PLC - gas production in UK southern North Sea - Announces spudding of Blythe development well in UK North Sea. "Following Elgood, Blythe is the second development well in IOG's Phase 1 project and is expected to take under three months to drill and complete, after which the rig will move on to Southwark," IOG says. Chief Executive Andrew Hockey labels it "another important step" for IOG.

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Pure Gold Mining Inc - operates mine in Red Lake, Ontario, Canada - Commercial production achieved at PureGold Mine, effective August 1. "Commercial production is a significant milestone and marks the beginning of a very exciting growth phase for the company," Chief Executive Darin Labrenz says.

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Rockhopper Exploration PLC - oil & gas company with interests in the North Falkland Basin and Greater Mediterranean regions - Updates on arbitration process at Ombrina Mare field. Says yet to receive outcome from work done by tribunal. Rockhopper is seeking damages from Italy. "Rockhopper continues to believe it has strong prospects of recovering very significant monetary damages - on the basis of lost profits - as a result of the Republic of Italy's breaches of the Energy Charter Treaty," Rockhopper adds.

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Flowtech Fluidpower PLC - supplier of technical fluid power products - Says interim revenue streams recover but not quite by enough to reach pre-virus levels. Says revenue in six months to June 30 rises 19% annually to GBP55.3 million from GBP46.5 million. This is down 7.2% from GBP59.6 million in first half of 2019. Flowtech explains: "We have implemented price increases across our businesses to reflect both uplifts levied by certain of our suppliers and higher carriage costs following Brexit. We have also invested in the plans underway to bring our Flowtech business to market under one brand; our e-business/digital agenda as well as a refreshed focus on improving the efficiency of our logistic centres and supply chain management operations."

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Henry Boot PLC - Sheffield, England-based construction and property development business - Says property development business HBD, alongside Barings, has acquired a 20-acre industrial development site in Rainham, London as part of joint-venture. Henry Boot holds 20% stake in JV, as Barings holds remaining 80%. "The circa GBP100 million GDV redevelopment project has outline planning for employment use, where the JV plans to develop out approximately 368,000 square feet. The site also benefits from excellent transport links via the A13, which provides access into central London and the M25," Henry Boot says. "HBD is due to begin work on site next year, with a target completion date of 2023."

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Brandshield Systems PLC - London-based cybersecurity - Completes contract with unnamed client in financial services sector. "The client is a multi-billion dollar valued investment and wealth management company operating globally," Brandshield adds. Company will provide suite of services including protection against phishing, fraud and impersonation.

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Cornerstone FS PLC - London-based payments provider - Establishes Asia-focused team based in London. "This is a growing market and these appointments also support Cornerstone's stated strategy of increasing its direct business by acquisition and team hires," Cornerstone says. New team joins from international payment services firm Vorto Trading Ltd. Cornerstone tips the hires to "deliver a substantial increase in the group's revenue and will be profit enhancing". "This also represents the first step since our IPO towards executing on our strategy to expand our business. This team has previously driven transactions through our platform on a partner basis and will now be doing so directly, thereby generating higher margins," CEO Julian Wheatland says.

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PCF Group PLC - parent of PCF Bank Ltd, serving individuals and small businesses - Updates on accounts for year ended September 30, 2020 and six months to March 31. Completing work and probes required to file results. "The PCF Group would like to thank all shareholders for their patience and support during this time, and will provide further updates in due course," PCF says. In June, PCF said audit issues related to intercompany transfers and balances as well as issues related to funding provided by PCF Bank to unit Azule Ltd. It asked for shares to be suspended back in May to allow a "further review" of its "financial controls and reporting processes".

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Seed Innovations Ltd - Guernsey-based investor in health, wellness and medical cannabis investor - Participates in latest funding round by Yooma Wellness Inc. Cannabis-focused wellness firm Yooma in July said it raised USD9.7 million in financing as it applies for admission to the UK's AQSE Growth Market. Seed on Tuesday says it invested GBP220,000.

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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Agrees to install new 16-seat theatre style installation at SEA LIFE Orlando, Florida. Seating to be installed "over the coming weeks" and contract is for initial three years. "SEA LIFE Orlando will be the group's third larger theatre-style installation, following the successful installations at Shark Reef Aquarium, Las Vegas, and Clearwater Marine Aquarium, Florida which are both trading strongly," Immotion says.

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Argo Blockchain PLC - London-based cryptocurrency mining - Mines 225 bitcoin or bitcoin equivalent in July, up from 167 in June. Year-to-date, has mined 1,108. Monthly revenue amounts to GBP5.6 million, up 28% from GBP4.4 million in June.

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Cambridge Cognition Holdings PLC - Cambridge, England-based digital neuroscience company - Says first half performance was "strong". Sales order rise 74% yearly to GBP8.6 million, revenue up 50% to GBP4.5 million and swings to adjusted earnings before interest, tax, depreciation and amortisation of GBP200,000, from GBP300,000 loss. "The outlook remains positive and the company remains on track to be profitable in 2021," Cambridge Cognition says.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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17 Sep 2024 13:48

UK shareholder meetings calendar - next 7 days

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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7 Aug 2024 18:43

TRADING UPDATES: Savannah Energy's Petronas deal falls through

(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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19 Jun 2024 16:15

IN BRIEF: Seed Innovations loss narrows while NAV decreases

Seed Innovations Ltd - investor focused on early-stage health, wellness and medical cannabis firms - In the financial year to March 31, comprehensive loss narrows to GBP2.1 million from GBP4.5 million a year prior. Basic and diluted loss per share is 1.01 pence compared with 2.10p. No dividend was declared, unchanged from a year prior. Net assets per share totals GBP6.73 compared with GBP7.54. Remains "frustrated that the market does not understand the value and quality of our net asset value," company says. Says it is focused on utilising strategic initiatives to enhance investor perception and communicate its "intrinsic value proposition" to the market. Remains optimistic about Seed's current investment portfolio.

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18 Apr 2024 14:12

UK dividends calendar - next 7 days

Friday 19 April 
Chelverton UK Dividend Trust PLCdividend payment date
Empiric Student Property PLCdividend payment date
FW Thorpe PLCdividend payment date
Heavitree Brewery PLCdividend payment date
Heavitree Brewery PLC A dividend payment date
JPMorgan Global Emerging Markets Income Trust PLCdividend payment date
Palace Capital PLCdividend payment date
STS Global Income & Growth Trust PLCdividend payment date
Monday 22 April 
no events scheduled 
Tuesday 23 April 
Crest Nicholson Holdings PLCdividend payment date
Invesco Asia Trust PLCdividend payment date
Pantheon Infrastructure PLCdividend payment date
Pembroke VCT PLC Bdividend payment date
Pinewood Technologies Group PLCex-dividend payment date
Wednesday 24 April 
Conduit Holdings Ltddividend payment date
Thursday 25 April 
abrdn Asian Income Fund Ltdex-dividend payment date
AVI Japan Opportunity Trust PLCex-dividend payment date
Bakkavor Group PLCex-dividend payment date
Bankers Investment Trust PLCex-dividend payment date
Bodycote PLCex-dividend payment date
Cairn Homes PLCex-dividend payment date
Central Asia Metals PLCex-dividend payment date
City of London Investment Trust PLCex-dividend payment date
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Harworth Group PLCex-dividend payment date
Henderson Far East Income Ltdex-dividend payment date
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Invesco Select Trust PLC Global Equity Income ex-dividend payment date
Invesco Select Trust PLC UK Equity ex-dividend payment date
JPMorgan Claverhouse IT PLCex-dividend payment date
Legal & General Group PLCex-dividend payment date
ME Group International PLCex-dividend payment date
Morgan Advanced Materials PLCex-dividend payment date
Morgan Sindall Group PLCex-dividend payment date
Mortgage Advice Bureau Holdings PLCex-dividend payment date
MP Evans Group PLCex-dividend payment date
Murray International Trust PLCex-dividend payment date
Portmeirion Group PLCex-dividend payment date
Public Policy Holding Cos Incex-dividend payment date
Rightmove PLCex-dividend payment date
Sabre Insurance Group PLCex-dividend payment date
Schroder Oriental Income Fund Ltdex-dividend payment date
Secure Trust Bank PLCex-dividend payment date
Seed Innovations Ltdex-dividend payment date
Seplat Energy PLCex-dividend payment date
Shaftesbury Capital PLCex-dividend payment date
Spirax-Sarco Engineering PLCex-dividend payment date
St James's Place PLCex-dividend payment date
Stelrad Group PLCex-dividend payment date
Team Internet Group PLCex-dividend payment date
Tufton Oceanic Assets Ltdex-dividend payment date
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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
17 Apr 2024 21:55

EARNINGS AND TRADING: Chill Brands shareholder seeks board ejections

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

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16 Apr 2024 11:14

Seed Innovations shares boosted by special dividend

(Alliance News) - Seed Innovations Ltd shares shot up on Tuesday, after it said it will pay out a special dividend to shareholders.

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16 Apr 2024 10:45

AIM WINNERS & LOSERS: Seed Innovations leaps on special dividend

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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15 Apr 2024 10:08

Seed Innovations rises; receives GBP2.4 million from Leap Gaming sale

(Alliance News) - Seed Innovations Ltd shares rose on Monday, after it said it has received the remaining GBP2.4 million from the sale of its portfolio company Fralis LLC, trading as Leap Gaming.

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15 Apr 2024 10:06

Seed Innovations gets £2.4m balance from Leap Gaming sale

(Sharecast News) - Health, wellness and medical cannabis investor Seed Innovations announced the receipt of £2.4m (€2.76m) from the final instalment of the sale proceeds of its portfolio company Fralison Monday, which operated as Leap Gaming.

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9 Apr 2024 16:04

TRADING UPDATES: Beowulf consolidates Vardar; GIF outpaces benchmark

(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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26 Mar 2024 11:29

Seed Innovations investee bags funding for palm oil alternative

(Alliance News) - Seed Innovations Ltd announced on Tuesday that its investee company, Clean Food Group Ltd, had successfully raised GBP2.5 million.

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29 Feb 2024 18:06

TRADING UPDATES: United Oil adds Jamaica expert; Vaalco makes buy

(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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20 Feb 2024 20:13

TRADING UPDATES: Franchise Brands sets targets, Cindrigo agrees loan

(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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24 Jan 2024 20:16

EARNINGS AND TRADING: Nanoco receives proceeds from Samsung litigation

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

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23 Jan 2024 17:27

IN BRIEF: Seed Innovations notes investment by portfolio firm Avextra

Seed Innovations Ltd - investment firm focused on early-stage health, wellness and medical cannabis companies - Notes announcement by portfolio company Avextra AG, a German medical cannabis company, in which Seed holds a 3% stake.

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