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Pin to quick picksSan Leon Share News (SLE)

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TRADING UPDATES: MJ Hudson and Tandem see results ahead of views

Mon, 31st Jan 2022 22:07

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

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KRM22 PLC - London-based technology and software investment company - Expects widened adjusted earnings before interest, tax, depreciation loss of GBP0.8 million loss from GBP300,000 in 2020. Says cost base increased in 2021 compared to the prior year due to the reinstatement of salaries in order to ensure retention of key staff, expand the global risk platform and the extension of the company's risk management products. This all resulted in lower revenue recognised and an increase in adjusted Ebitda loss compared to 2020 and overall results slightly lower than current market expectations, it says.

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Xpediator PLC - Braintree, Essex-based freight management services - Says trading for 2021 continued strongly across all three divisions. For 2021, expects revenue in excess of GBP300 million, up from GBP221 million in 2020 and adjusted pretax profit "well in excess" of GBP8.5 million, up from GBP7.2 million in 2020, in line with the upgraded guidance given in June.

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FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - Expects 2021 sales of GBP42.8 million, up from GBP39.9 million in 2020 and underlying pretax loss GBP3.8 million, narrowed from GBP5.7 million. FireAngel says seeing an easing of supply chain challenges but may persist in first quarter.

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Tribal Group PLC - Bristol, England education software and services - Says following a good performance, it anticipates 2021 results to be in line with market expectations.

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Rosslyn Data Technologies PLC - Portsmouth, England cloud based enterprise data analytics platform - For six months to October 31, posts revenue of GBP3.1 million from GBP3.6 million last year and pretax loss GBP2.1 million, widened from GBP883,000 loss. "Rosslyn now finds itself with a new leadership team of experienced professionals from the software industry, who are charged with our next phase of execution. The combination of bringing together the customer and product as the central nervous system of our execution, and the relaunching of a new brand into the market we expect to give us a springboard into 2022 and beyond. We look to the future with increasing confidence," it says.

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Amala Foods PLC - Jersey-based food technology company - For six months to September 30, pretax loss narrows to GBP185,703 from GBP426,162. No dividends have been paid during the half-year.

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MJ Hudson Group PLC - London-based asset management consultancy - Says trading in the first quarter of financial 2022 has been strong, continuing momentum from the six months prior. For six months to December 31 says it has continued to perform well, winning multiple new clients, many of which are accessing multiple services. As a result of this strong performance, underlying revenue for the full year ending June 30 is now expected to be ahead of market expectations.

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Journeo PLC - Leicestershire-based transport information systems and technical services - Says strategy of developing technologies, IP and information services centred around customers in public and freight transport applications, led to a increase in order intake during 2021. Says revenue increased by 15% in 2021 to GBP15.6 million from GBP13.6 million in 2020. Due to the type of work completed and the varying margins involved, profit for the full year is anticipated to be in line with market expectations, it adds.

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Engage XR Holdings PLC - Waterford City, Ireland-based virtual communications solutions - Expects 2021 revenue of EUR2.4 million, up 68% on the prior year's EUR1.4 million. Also says Non-Executive Director Frank Poore resigned from board with immediate effect to focus on other business interests.

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STM Group PLC - Isle of Man-based pensions and insurance administrator - Says trading results for 2021 will be materially in line with previous guidance and expectations for 2022 also remain in line with existing guidance.

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BATM Advanced Communications Ltd - Israel-based networking technology and medical lab systems - Has invested an additional USD10 million in Ador Diagnostics.

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Tandem Group PLC - sports equipment distributor based in West Midlands - Says Christmas trading period saw continued robust performance from the group's toys, sports & leisure business. Notes the rate of growth achieved in the second half of 2021 did not match the levels seen in first half, turnover was still over 7% ahead of the same period in the prior year, despite the ongoing logistics impacts. As a result, expects to report 2021 revenue of GBP40.9 million, with pretax profit expected to be well ahead of the prior year and slightly ahead of the current market expectations. Says 2022 has begun more slowly, with some customers delaying orders into future months. However, it remains confident that we have secured the strongest wheeled toy licences and have some exciting developments planned for the year.

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Scancell Holdings PLC - Nottingham, England-based cancer immunotherapies developer - Says first patient dosed with second COVIDITY vaccine candidate and preclinical studies demonstrate strong immunity against Omicron.

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Inland ZDP PLC - wholly-owned subsidiary of housing plot developer Inland Homes PLC - Reports asset value per ZDP share 176.86 pence at September 30, up from 167.30p a year ago.

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Quantum Exponential Group PLC - quantum technology investment firm - Says it has held discussions with a number of potential investee companies, several of which are being actively pursued. Quantum Exponential says Chief Operating Office Steven Metcalfe to become CEO.

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San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Says two of its subsidiaries have successfully concluded ongoing legal proceedings with TAQA Offshore BV in relation to San Leon's legacy interests in two royalties on Block Q13A. Says it has now received payments of more than EUR5.7 million, including an interim payment in respect of legal costs.

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Gunsynd PLC - UK-based investment company - Sells 600,000 shares in Charger Metals Ltd for 82 Australian cents for proceeds of AUD493,000 - around GBP260,000. Following this disposal, Gunsynd continues to hold 3 million shares in Charger representing approximately 6%.

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Hummingbird Resources PLC - gold miner with projects in Mali, Liberia and Guinea - Reports 18,181 ounces of gold poured at Yanfolila mine in Mali. Says 2021 production of 87,558 ounces, in line with the revised guidance range of 84,000 to 89,000 punces. Looking ahead, guides for 2022 production guidance of 87,000 to 97,000 ounces of gold, with an AISC of USD1,300 to 1,450 per ounce of gold. First quarter forecast to be a lower production quarter versus the remaining quarters of 2022 driven primarily by an additional five excavators becoming increasingly operational.

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MGC Pharmaceuticals Ltd - European based company specialising in the production and development of phytomedicine - Sees strongest quarterly sales in three months to December 31, with product sales totalling USD1.8 million, including continued strong sales growth from the phytocannabinoid medicine line of products.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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TRADING UPDATES: Quiz sales fall, names new CEO; Byotrol eyes AIM exit

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IN BRIEF: San Leon Energy closes in on new financing agreement

San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Confirms receipt of acceptable commercial terms from two prospective funders which are in the final stages of negotiation. Hopes to sign full documentation with one of these funders in the relatively short-term.

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San Leon Energy receives up to USD187 million investment from Tri Ri

(Alliance News) - San Leon Energy PLC on Tuesday hailed an investment it has received that will enable it to become a majority shareholder in Energy Link Infrastructure Malta Ltd, which San Leon said was part of its long-term strategy.

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9 Oct 2023 17:54

IN BRIEF: San Leon scraps existing Midwestern deal, mulls alternative

San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Announces the termination of its proposed transactions with Midwestern Oil & Gas Co Ltd and the further conditional investments in Energy Link Infrastructure (Malta) Ltd. Notes these were initially announced on July 8, 2022. Remains in early-stage discussions with Midwestern regarding a revised transaction in relation to Midwestern Leon Petroleum Ltd and Midwestern's indirect shareholding in ELI.

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9 Oct 2023 13:31

IN BRIEF: San Leon Energy notes "very advanced" talks on loan facility

San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Says it is in a "very advanced stage" relating to securing an alternative loan facility. It says that in order for to enable discussions to conclude, Toscafund Asset Management LLP provided San Leon with a redemption and release letter that includes a standstill provision. Toscafund agrees not to make any demand for repayment of the loan or enforce security before Friday. "The board of San Leon believes that a conclusion on an alternative loan facility will be reached in the very near term and will provide an update to shareholders and creditors at that time," San Leon says.

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2 Oct 2023 14:32

EARNINGS AND TRADING: Alternative Income REIT raises dividend

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

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IN BRIEF: Beazley Director Robert Stuchbery buys GBP50,357 shares

Beazley PLC - insurance business operating in Europe, North America, Latin America and Asia - Director Robert Stuchbery buys 9,505 shares at 529.79 pence each worth GBP50,356.77.

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8 Sep 2023 19:30

IN BRIEF: San Leon in talks regarding new loan, extends existing loan

San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Continues discussions with a third party in relation to securing an alternative loan facility of USD50.0 million, which once concluded is anticipated to be used towards, amongst other purposes: the repayment of the USD5 million loan taken out in August. Proceeds of the new loan would also be used to make further investments in ELI and satisfy outstanding obligations to its creditors. Given talks continue, the original loan has been extended to September 30.

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1 Sep 2023 18:29

IN BRIEF: San Leon Energy extends longstop date for two transactions

San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Announces further extension to the longstop dates for the proposed transactions with Midwestern Oil & Gas Co Ltd and the company's further conditional investments in Energy Link Infrastructure (Malta) Ltd. All longstop dates have now been extended to September 30. In discussions with Midwestern on whether a potential revision to the transaction can be agreed to allow completion to occur whilst the new eroton debt facilities and the Sahara OML 18 acquisition continue to be delayed for reasons outside of the company's control. There can be no guarantee that any such revised terms will be agreed. Further, remains in talks with a third party in relation to securing an alternative loan facility of USD50.0 million. In addition, remains in talks with ELI regarding making further potential investments of up to USD37.0 million, in ELI, which would be conditional, on completing the alternative loan facility of USD50.0 million.

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8 Aug 2023 13:50

IN BRIEF: San Leon Energy invests in Energy Link Infrastructure

San Leon Energy PLC - oil and gas production, development and exploration company focused on Nigeria - Announces a further investment of USD5.0 million in Energy Link Infrastructure (Malta) Ltd, which owns the new pipeline and the floating storage and offloading vessel for the OML 18 oil and gas field in Nigeria. The further investment in ELI is being funded by the company taking a USD5.0 million loan from funds managed by Toscafund Asset Management LLP.

Read more

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