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(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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Wincanton PLC - Wiltshire, England-based logistics firm - Is trading in line with current market expectations despite economic headwinds. Revenue in first quarter of financial year rises 11% year-on-year, and increases 9% when stripping out acquisitions. "Pleasingly, growth has continued across all four sectors with each also building an attractive pipeline of opportunities," firm says. The eFulfilment sector increases revenue by 17% due to boost from Cygnia acquisition and, when stripping Cygnia out, revenue rises just 1%. "While it is mindful of the macroeconomic environment, the board remains confident that the combination of a robust business model, new contract wins, disciplined pricing and a strong balance sheet, means the group is on track to deliver full year results in line with current market expectations," it says.
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Steppe Cement Ltd - Kazakhstan-focused construction materials firm - Sells 837,063 tonnes of cement for KZT19.58 billion - around GBP34.8 million - in first half of 2022, versus 840,661 tonnes of cement for KZT16.66 billion a year before. "The volume was maintained but the turnover increased by 18%," company says, explaining that the average price for the half was KZT23,391 per tonne, jumping from KZT19,814 per tonne year-on-year.
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Central Asia Metals PLC - London-based copper, zinc and lead explorer operating in Kazakhstan and North Macedonia - Says half-year Sasa zinc in concentrate production is 10,465 tonnes, with Sasa lead in concentrate production 13,827 tonnes. The Sasa zinc-lead mine is in North Macedonia. Kounrad copper production, from plant in Kazakhstan, is 6,617 tonnes. "Production was strong for all three of our base metals. We are on track to achieve our 2022 guidance for copper, zinc and lead and we expect to be towards the top end of our copper target range," says Chief Executive Nigel Robinson.
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System1 Group PLC - London-based marketing and brand consultancy - Releases annual results and also a trading update for the first quarter of its new financial year. For financial year ended March 31, revenue rises 6% to GBP24.1 million from GBP22.8 million the year before. Calls this growth "respectable but unspectacular" amid an unexpected fourth-quarter reduction in its US bespoke research business. Pretax profit falls to GBP945,000 from GBP2.1 million. Notes headwinds looking ahead. "There are of course, two known headwinds for us to face and overcome: the exposure of a few of our large customers to the loss of their Russian market, which has already led to reduced marketing budgets; and the looming threat and impact of a recession on our customers' marketing investment," it says. Declares no dividend for year, but plans to return up to GBP1.5 million of excess cash to shareholders via tender offer at "earlier opportunity".
Turning to new financial year, revenue in the three months to June 30 falls 20% year-on-year to GBP5.2 million. "Although lower than the comparable period last year, revenue and profitability were broadly in line with the board's expectations and reflected inflationary pressures, tighter marketing budgets for some customers and continued softness in bespoke consultancy revenues, particularly in the USA where we have only recently filled a number of vacancies in the sales team," it says.
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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Says Ming Mine averaged ore production of 994 dry metric tonnes per day in June, down from 1,041 tonnes in May. However, total combined ore and waste moved during the month was 53,870 tonnes compared to 50,388 tonnes in May 2022. Nugget Pond copper and gold milling facility achieved throughput of 33,173 dry metric tonnes at a feed grade of 2.02% copper in June. Recovery of copper metal to concentrate was 96.7% for June, up from 95.8% in May. "June as a month and Q2 2022 as a quarter have set new records for the Ming Mine in terms of copper production," says President & Chief Executive Toby Bradbury.
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Sanderson Design Group PLC - Buckinghamshire-based interior furnishings company - Says trading in financial year to date broadly in line with a year before, and profit is tracking board's full-year expectations. "The key growth trends outlined in our full year results on 28 April 2022 - including manufacturing, the Morris & Co brand and the US - have continued strongly in the weeks following the results announcement. Licensing has also continued to perform well," says Chair Dianne Thompson at Tuesday's annual general meeting. Has strong net cash position but remains "vigilant" over global economic backdrop.
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By Lucy Heming; lucyheming@alliancenews.com
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