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EARNINGS UPDATES: Colefax profit surges; MJ Hudson plans maiden payout

Thu, 12th Aug 2021 17:21

(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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Colefax Group PLC - London-based luxury furnishing fabrics and wallpapers distributor - Says sales decreased by 1% in the financial year to April 30 to GBP77.9 million, but on a constant currency basis, sales increased by 2%. Pretax profit jumped to GBP5.4 million from GBP2.2 million year-on-year, mainly driven by a strong recovery in core Fabric division sales, and also lower new product investment. The company is not proposing a final dividend but intends to restart dividends in the new financial year.

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MJ Hudson Group PLC - Jersey-based asset management consultancy - Says underlying revenue grew over 25% in the twelve months ended June 30. This includes maiden contributions from recent acquisitions, PERACS and Bridge. The company says it continued to invest in technology aimed at improving infrastructure, creating long term cost efficiencies and launching new software-driven products. The company expects to announce its maiden dividend with its preliminary results.

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Riverstone Credit Opportunities Income PLC - closed-ended investment company - Declares quarterly dividend of 1.8 US cents per share. The company reports net asset value per share as at June 30 of 103.49 cents, down from 104.35 cents posted the year earlier. The company reports a pretax profit of USD2.6 million for the six months to June 30, up from USD2.5 million reported the year ago, as a result of income received from the investment portfolio and changes in the portfolio's valuations.

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Sativa Wellness Group Inc - Vancouver, Canada-based therapeutic life science company - Reports its first quarterly profit in 2021. Revenue in the three months to June 30 jumped to GBP3.5 million year-on-year, up by GBP3.1 million versus the equivalent period the previous year. The half-year revenue was up to GBP4.9 million, GBP4.1 million higher than a year earlier. Sativa also recorded first net profit of GBP46,000 compared to GBP1.4 million loss a year ago.

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STM Group PLC - Isle of Man-based life insurer - Continues to trade in line with management's expectations for 2021. The company says the focus for the second half of 2021, and going into 2022, is the acceleration of new business revenue. The second half of 2021 has already seen progress being made in relation to additional distribution through partnership collaborations and the relaunch of STM's short-term annuity product, both of which will contribute to new business revenue for 2021, the company says.

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Ocean Wilsons Holdings Ltd - Pembroke Parish, Bermuda-based - Reports a swing to pretax profit of USD66.2 million in the six months to June 30 from USD1.8 million loss a year ago. Revenue, meanwhile, rises to USD188.9 million from USD174.2 million year-on-year. Revenues were up for all lines of business compared to the first half of the prior year. Dividends paid to shareholders in the period total USD24.8 million, up from USD10.6 million a year ago.

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Tribal Group PLC - Bristol, England-based education software and services firm - Reports revenue for the three months to June 30 of GBP39.3 million versus GBP38.2 million posted a year earlier. Tribal pretax profit jumps 17% year-on-year to GBP4.4 million. The company notes continued strong sales performance, adding four new SIS customers across Tribal's range of software offerings in the first six months of the year. Looking ahead, the company says it expects to beat market expectations for full year.

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Checkit PLC - Cambridge, England-based cloud-based workflow, monitoring and analytics services provider - Says revenue for the six months to the end of July grew by 13% to GBP4.3 million and recurring revenue by 31% to GBP1.5 million compared to a prior year. Cash as at July 31 was GBP8.5 million versus GBP11.5 million on January 31.

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Caledonia Mining Corp PLC - Saint Helier, Jersey-based gold producer - Reports revenue of USD30.0 million for the three months to June 30, a 31%increase on the USD22.9 million achieved in the second quarter of 2020. Gross profit rises by 51% year-on-year to USD13.9 million. Total dividend paid in the quarter were 12 cents per share, a further dividend at the increased rate of 13 cents per share was paid in July. Turning to operations, the company says 16,710 ounces of gold produced in the quarter, 24% higher than the 13,499 ounces produced a year earlier and a new production record for a second quarter. Production in July was 5,995 ounces, which is a further increase in average monthly production, the company notes.

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Vaalco Energy Inc - Texas, US-based hydrocarbon exploration company - Reports strong second quarter of 2021 net income of USD5.9 million and adjusted net income of USD8.4 million. Vaalco sells 642,000 barrels of oil in the three months to June 30, an increase of 4% over the first quarter of 2021 and above the high end of second-quarter guidance. The company says second quarter results reflect the positive impact for a full quarter of the acquisition of the Sasol interest at Etame that closed in February.

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Arrow Global Group PLC - Manchester, England-based firm purchasing debt from banks, credit card companies and telecommunications businesses - Says pretax profit before takeover costs for the six months to June 30 was GBP22.9 million, a swing from a loss of GBP135.9 million a year ago. Arrow shareholders voted in favour of the recommended all cash offer by TDR Capital at the court and general meetings on May 21. Completion, subject to regulatory approvals, expected by the end of the third quarter of 2021. Arrow Global reports resilient third-party income growth, up 13% to GBP44.8 million in the half year.

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Clean Invest Africa PLC - investor in energy firms - Looks forward to the next period with significant optimism due to the substantial and strong pipeline and in addition a developing opportunity to expand beyond coal into higher value natural resources and potentially into the battery market. "We have a very strong pipeline of commercial initiative and a good management team that has proven to be very resilient navigating the huge and lengthy challenges posed by the Covid-19 pandemic," says Chief Executive Filippo Fantechi.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
4 Apr 2024 12:25

IN BRIEF: STM updates on takeover and Pathlines buy of SIPPS firms

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Announces that the UK Financial Conduct Authority has approved the regulatory change of control applications made by Pathlines Holdings Ltd over the latter's acquisition of self-invested personal pension companies. Says the acquisition remains subject to the satisfaction or waiver of other conditions, including regulatory conditions. Also notes Jambo SRC Ltd has submitted regulatory change of control applications to the Gibraltar Financial Services Commission and the Malta Financial Services Authority over its acquisition of STM. Says these applications continue to progress. In December, STM shareholders voted in favour of the takeover, with the company expecting it would become effective in the second quarter of 2024.

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23 Feb 2024 14:27

IN BRIEF: STM annual revenue rises amid interest income boost

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Says revenue for 2023 is GBP28.0 million, ahead of market expectations, as a result of higher than forecasted interest income. This is a 6.7% increase from GBP24.1 million a year ago. Adds that it incurred costs related to the acquistion of by Jambo SRC, as well as an additional GBP700,000 of exceptional costs. "These exceptional costs relate to the write down of certain non-cash items relating to the disposals of the companies and trust services subsidiaries in 2021," STM explains.

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23 Feb 2024 09:05

STM FY revenues seen ahead of market expectations

(Sharecast News) - Financial services provider STM Group said on Friday that full-year revenues were £28.0m, ahead of market expectations, driven by higher than forecasted interest income.

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6 Dec 2023 14:29

IN BRIEF: STM shareholders approve takeover by Jambo

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Says the majority of shareholders vote in favour of takeover by Jambo SRC Ltd. Says it will become effective in the second quarter of 2024.

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29 Nov 2023 15:46

UK shareholder meetings calendar - next 7 days

Thursday 30 November 
Amur Minerals CorpAGM
Atlantic Lithium LtdAGM
Cordel Group PLCAGM
CQS New City High Yield Fund LtdAGM
DXS International PLCAGM
Europa Metals LtdAGM
Gabelli Merger Plus+ Trust PLCAGM
Kingswood Holdings LtdAGM
MC Mining LtdAGM
MGC Pharmaceuticals LtdAGM
NCC Group PLCAGM
Ovoca Bio PLCAGM
Revolution Bars Group PLCAGM
Roebuck Food Group PLCEGM re fundraising
Ruffer Investment Co LtdAGM
Friday 1 December 
Croma Security Solutions Group PLCAGM
HeiQ PLCGM re annual report approval
James Halstead PLCAGM
More Acquisitions PLCGM re capital raise
Myanmar Investments International LtdGM re cancellation to trading on AIM
Plaza Centers NVAGM
ScS Group PLCAGM
Monday 4 DecemberGM re additional listing on the NYSE
Diversified Energy Co PLCGM re purchase of 15% of the company's own shares
Palace Capital PLCAGM
PRS REIT PLC 
Tuesday 5 DecemberAGM
450 PLC 
Wednesday 6 December 
Alternative Liquidity Fund LtdAGM
Bowleven PLCAGM
Gattaca PLCAGM
STM Group PLCcourt meeting and EGM re takeover by Pension SuperFund Capital
VinaCapital Vietnam Opportunity Fund LtdAGM
Virgin Wines UK PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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10 Oct 2023 14:28

IN BRIEF: STM agrees to GBP40 million takeover by Pension SuperFund

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Agrees to takeover offer from Pension SuperFund Capital. The offer includes 60 pence per share in immediate cash and 7p in deferred consideration. The combined 67p matches the price at which STM previously had received undertakings from some shareholders to accept an offer. In total, 36% of STM shareholders have accepted the offer already. It values STM at up to GBP39.8 million. London-based Pension SuperFund helps UK companies to fund their defined-benefit pension schemes, offering pension risk transfers. STM offers workplace pensions and self-invested personal pension schemes. The acquisition will be conducted as a court-sanctioned scheme of arrangement, which is expected to become effective in the first half of 2024.

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28 Sep 2023 17:27

EARNINGS: Ukrproduct outlook uncertain amid war; Microlise revenue up

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

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25 Sep 2023 14:13

IN BRIEF: STM Group not ready to relinquish interim CFO Neish

STM Group PLC - London-based cross border financial services provider - Extends interim Chief Financial Officer Therese Neish's contract until December 31. Neish rejoined STM as interim CFO on a 12-month contract in early October 2022, replacing former CFO Nicole Cole. She previously served as CFO from January 2014 until October 2021. STM had announced in early May that the process to find Neish's successor was underway and that she was expected to resign from the board on or around July 1. Company gives no reason for the extension.

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15 Sep 2023 19:56

IN BRIEF: STM Group updates on offer from Pension SuperFund Capital

STM Group PLC - London-based cross-border financial services provider - Receives irrevocable undertakings to vote in favour of the revised offer from Pension SuperFund Capital in respect of 29% of its share capital, subject to an offer of no less than 67 pence in cash being made by September 27. Also receives letter of intent to vote in favour of the offer in respect of 3.4% of its share capital on the same condition.

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8 Sep 2023 12:38

IN BRIEF: STM notes extended deadline for offer from Pension SuperFund

STM Group PLC - London-based cross border financial services provider - Notes UK Takeover Panel has extended the deadline for a 'put-up-or-shut-up' takeover offer from Pension SuperFund Capital GP II Ltd as general partner of Pension SuperFund Capital Reserve LP. Says the deadline has now been extended to September 27 from Friday for Pension SuperFund Capital to either announce a firm intention to make an offer or that it does not intend to make an offer. Says Pension SuperFund Capital is in the late stages of securing credit committee approval from its lending bank for a new credit facility, which would enable both parties to complete the further work required for Pension SuperFund Capital to make an offer. STM also says it is in the process of discussing irrevocable undertakings to vote in favour of the offer from certain shareholders. This would be on the basis that credit committee approval is received from Pension SuperFund's lending banker.

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5 Sep 2023 20:09

IN BRIEF: STM reaches agreement to sell all equity to PSF Capital

STM Group PLC - London-based cross border financial services provider - Reaches agreement in principle with PSF Capital GP II Ltd as general partner of PSF Capital Reserve LP over a possible offer for all company shares at a price of 70 pence each. PSF provides pension savings and pension risk transfers. Says offer conditional on disposal of certain parts of the group that are "non-core" to the strategy of PSF. This was after reaching the deadline for an announcement of a potential intention of a takeover offer.

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22 Aug 2023 10:36

AIM WINNERS & LOSERS: Plexus surges as contract value rises

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

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22 Aug 2023 10:05

STM pushes back takeover deadline for second time

(Sharecast News) - Shares in AIM-listed STM Group dropped on Tuesday morning after the financial services company once again extended its deadline to agree terms on a takeover by Pension SuperFund (PSF) Capital.

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22 Aug 2023 09:44

STM shares fall as extends deadline for intention announcement by PSF

(Alliance News) - STM Group PLC on Tuesday again extended the deadline for an announcement of a potential intention of a takeover offer by PSF Capital GP II Ltd, as general partner of PSF Capital Reserve LP.

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15 Aug 2023 15:45

UK shareholder meetings calendar - next 7 days

Wednesday 16 August 
Cadence Minerals PLCAGM
Calnex Solutions PLCAGM
NextEnergy Solar Fund LtdAGM
NFT Investments PLCAGM
StreaksAI PLCAGM
VSA Capital Group PLCAGM
Thursday 17 August 
Harvest Minerals LtdAGM
Quantum Exponential Group PLCAGM
Windward LtdAGM
Yourgene Health PLCGM and court meeting re takeover by Novacyt
Friday 18 August 
Adams PLCAGM
ME Group International PLCGM re proposed share buyback
Oxford BioDynamics PLCGM re placing
Pathfinder Minerals PLCGM re disposal of the subsidiary
Monday 21 August 
Calculus VCT PLCAGM
Home REIT PLCGM re changes to the investment policy
Tuesday 22 August 
Cake Box Holdings PLCAGM
ReNeuron Group PLCAGM
RUA Life Sciences PLCAGM
Smoove PLCAGM
STM Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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