(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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PetroTal Corp - Calgary, Canada-based, Peru-focused oil and gas development and production company - Achieves average production of 12,193 barrels of oil per day in the first quarter of 2023, up 17% from the fourth quarter of 2022. Average sales is 12,618 bopd, up 21%. Achieves a Brazilian export route sales record in March of approximately 606,521 barrels, or 19,565 bopd. When combined with sales to the Iquitos refinery, the company delivered record total sales of approximately 666,515 barrels in March, or 21,500 bopd. Chief Executive Officer Manuel Pablo Zuniga-Pflucker says: "We hope to carry this momentum throughout the remainder of the year, having already recovered 97% of the constrained Q1 2023 volumes in April 2023, and meet current 2023 full year expectations. Our commitment is to look for other export routes, including the [northern Peruvian pipeline], with the aim of reaching our previous production record of 26,000 bopd in the near term."
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Smoove PLC - Thame, England-based provider of online services for conveyancing and financial intermediary markets - Reports talks with a third party that would not have led to a bid for the firm have ended. Discussions related to an alternative potential transaction and are not related to the bid approach from PEXA Group Ltd.
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NAHL Group PLC - Northamptonshire, England-based insurance claims management - Announces the sale of Homeward Legal Ltd. The subsidiary is considered non-core and its sale will allow the group to further focus on its key growth areas. Notes the consideration is to be the equivalent of the net asset value of Homeward Legal on completion, around GBP150,000. Adds sale proceeds will be used for general corporate purposes. Further, notes the sale will strengthen the balance sheet and have a positive impact on the gross margin.
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Deltex Medical Group PLC - Chichester, England-based cardiac monitoring system maker - Intends to launch its new monitor product in June 2023, after conducting a "detailed review of the small number of outstanding items that need to be addressed in order to complete the new monitor's regulatory technical file". Signs GBP250,000 bridging loan with Chair Nigel Keen in order to capitalise on market interest and anticipated demand. Chief Executive Andy Mears says: "Now we have a launch date for the new monitor we need to make sure we have sufficient units being built to satisfy expected demand. Initial interest in the new monitor has been good and we look forward to following up this interest with a timely supply of the new product."
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ActiveOps PLC - Reading, England-based management process automation software provider for back-office operations - Expects revenue for the year that ended March 31 to be around GBP25 million, up 11% from GBP22.9 million a year earlier. Expects to deliver above market expectations in the range of GBP24.6 million to GBP25.1 million and above market estimates of GBP500,000 in adjusted loss before interest, tax, depreciation and amortisation towards a positive earnings before interest, tax, depreciation and amortisation. Chief Executive Officer Richard Jeffery says: "ActiveOps has gone from strength to strength in the past year, delivering ahead of the targets we set ourselves at the time of our [initial public offering], securing a strong revenue performance and achieving a positive Ebitda run rate as we entered the final quarter of the year. We have continued to expand the usage of our offerings across our growing roster of blue-chip customers, demonstrating the appeal of our solutions and the clear return on investment they deliver our clients within these tough macro-economic times. With a cutting-edge product set that helps clients solve real-time issues, high levels of recurring revenues, a clear pathway to profitability, increasing cash position and a resilient and diverse customer base, we are well placed to continue to deliver against our growth plans."
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SigmaRoc PLC - quarried materials company - Says underlying Ebitda in the first quarter of 2023 ahead of prior year and slightly ahead of its expectations. Expects first quarter revenue of GBP137.1 million, with volumes 1% ahead of budget. Chief Executive Officer Max Vermorken says: "The group delivered performance ahead of expectations in Q1, despite variable market conditions, leveraging its ability to focus activity on growth segments and achieve further margin gains through operational efficiency and active cost management. The group also made significant progress on its acquisition pipeline, with three important development projects initiated within the quarter." Says it is "very confident" of "significant progress" in current year and beyond. Executive Chair David Barrett buys 115,000 shares at 58p each in early March for total GBP66,700.
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Strategic Minerals PLC - London-based miner - Revenue in the first quarter of 2023 is USD415,000, down 37% from USD663,000 a year earlier. Says this reflected the anticipated reduced demand from some customers, associated with the dip in US economic activity. First quarter tonnage is 4,734 tonnes, down 55% from 10,609 tonnes a year earlier.
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By Greg Rosenvinge, Alliance News reporter
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