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(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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Steppe Cement Ltd - Kazakhstan-focused construction materials firm - For 2021, pretax profit rises 63% to USD21.4 million from USD13.1 million the year before, on revenue which grows 13% year-on-year to USD84.6 million from USD74.8 million, due to 3% growth in cement sales to 1.69 million tonnes from 1.65 million tonnes. Looking ahead, company says the Kazakh cement market increased 23% in 2021 and expects 2022 to be at a similar level. Steppe Cement "wishes" to recommend the distribution of a 5 pence dividend for 2021, but new tax regulations in Malaysia create uncertainty on the tax treatment of foreign sourced dividend income for Malaysian corporates.
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Somero Enterprises Inc - Fort Myers, Florida-based laser-guided machinery concrete levelling - For the five months ended May 31, trading tracks well with the non-residential construction market, which has remained healthy. As a result, revenue, profitability and cash generation is expected to be in line with management expectations.
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Shanta Gold Ltd - Guernsey-based east Africa-focused gold producer, developer and explorer - Signs binding agreement with Stanbic Bank Tanzania Ltd for a four-term USD20 million loan facility, which will go towards accelerating portfolio growth, mainly the ongoing construction of the Singida gold project. For the second quarter of June, expects gold production to be 45% higher from the first quarter, underpinning confidence in its annual production guidance of 68,000 to 72,000 ounces.
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EKF Diagnostics Holdings PLC - Cardiff-based diagnostics and central laboratory assay maker - Receives cash payment of USD5.5 million in relation to inventory increase associated with Covid-related contract manufacturing services in the US. Accounting effect of payment will reflect an enhancement to revenue and adjusted earnings before interest, tax, depreciation and amortisation for 2022, however exact effect is unknown.
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ThomasLloyd Energy Impact Trust PLC - Asia-focused renewable energy investment trust - As at May 31, net asset value per share reaches USD1.009, up from USD0.921 at the end of March. At the end of May, holds gross assets of USD117.4 million, driven by the fair value of the seed assets in the Philippines benefiting from strong power prices and a currency gain on proceeds received from the IPO.
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Valeura Energy Inc - Canada-based company engaged in the exploration, development and production of petroleum and natural gas in Turkey - Following acquisition of Gulf of Thailand assets, reserves and resources report showed proved reserves of 2.75 million barrels of oil, proved and probable reserves of 6.46 million barrels, giving an estimated future net revenue of USD59.3 million. Best estimate for unrisked contingent resources stands at 4.70 million barrels for the Rossukon oil field.
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MiLOC Group Ltd - Hong Kong-based pharmaceutical and beauty products - Intends to restructure its business by officially closing the Traditional Chinese Medicine Centre, and shift its resources towards the sale and distribution of designer products with its partner CRUSHMETRIC Ltd, namely the SwitchPen. Company will propose a resolution to shareholders "in due course".
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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