(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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N Brown Group PLC - UK fashion retailer - For the six months ended August 19, revenue fell by 18% year-on-year, with 22% drop in first quarter moderating to 13% in second. Product revenue down 21% in half, having been down 29% in first quarter and 12% in second. Says apparel sales recovering and demand for Home & Gift increasing, supported by the launch of Home Essentials brand on April 1. Going in the wrong direction is Financial Services revenue, down 12% in the half, with an 8.3% decline in the first quarter accelerating to 16% in the second. Regulatory changes and a smaller debtor book led to lower revenue from Financial Services. N Brown's net debt is GBP411.1 million on August 29, down from GBP497.0 million on February 29. Gross debtor book stable at GBP632.1 million at the end of August from GBP656.9 million at the end of February.
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Topps Tiles PLC - Leicester-based tile retailer - For year ended September 26, expects revenue down 12% at GBP192 million from GBP219 million the year before, while retail like-for-like revenue will be down 13%. Expects to generate a modest level of adjusted pretax profit. For fourth quarter of financial year, retail like-for-like sales grew by 17%.
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Studio Retail Group PLC - Accrington, Lancashire-based online shopping - Expects adjusted pretax profit from continuing operations for 2021 financial year to be ahead of group expectations. Product sales for first 26 weeks of current financial year grew by 39%, as active customer base rises by 15%, standing at 2.1 million customers. Anticipates peak trading period of third quarter which covers Black Friday and Christmas.
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Altitude Group PLC - personalised products marketplace operator - Delays results for 15 months to end of March to end of October, due to pandemic's effect on audit process. Revenue expected to be no less than GBP8.0 million. Cash position as at August 31 was GBP1.6 million. For the June quarter, market transactional volume was down 44%, and was down 26% in August.
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AdEPT Technology Group PLC - information technology services - Cash collection improving since start of April, demonstrating that in the six months to end of September the company is "weathering the storm". Despite expecting encouraging interim results, does not anticipate declaring an interim dividend.
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AFH Financial Group PLC - financial investment management firm - For the year to the end of October, expects earnings before interest, tax, depreciation and amortisation and revenue to be ahead of GBP17.2 million and GBP74.3 million respectively from the year before. However, Ebitda is set to be slightly below management expectations.
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Barkby Group PLC - Abingdon-headquartered company with businesses in real estate, consumer & hospitality and life sciences - Agrees with Turf to Table Ltd to amendment of deferred payment for pub acquisitions agreed to in 2018. Barkby will pay GBP115,000 in lieu of balance of existing consideration of GBP150,000. GBP60,000 of the outstanding GBP115,000 to be satisfied by issue of 260,869 shares at a price of 23p each.
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Pressure Technologies PLC - Sheffield-based specialist engineering - Chesterfield Special Cylinders division secures a GBP3 million contract to supply nitrogen storage services to EDF Energy for several UK nuclear power plants. However, in relation to contract signed with FTSE 100-listed BAE Systems PLC back in June for the supply of cylinders to the UK's Dreadnought class submarine programme, delayed order placement and compressed delivery schedule set to result to deferral of revenue and profit from contract to first quarter of 2021 financial year. Pressure Technologies expects to report loss-making performance for current financial year.
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Tertiary Minerals PLC - Nevada-focused mineral exploration and development company - Completes trenching programme at Peg Leg Copper-silver-lead-zinc project. Completes drone photogrammetric survey at Paymaster zinc-silver project. Commissions soil sampling programme for Pyramid gold project and Mount Tobin silver project. However, at MB Flourspar project, metallurgical test work was unsuccessful, leading to termination of lease agreement following project review.
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Orosur Mining Inc - South American gold explorer and developer - Notes that Newmont Corp has signed joint venture agreement with Canadian gold miner Agnico Eagle Mines Ltd, in which both firms will advance Newmont's rights for the Anza project in Colombia, with Agnico as operator. Monte Aguila to provide initial funding of USD700,000 to restart exploration program.
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Chaarat Gold Holdings Ltd - London-based gold miner focused on Armenia and Kyrgyz Republic - Notes increased violence in Armenia with military action between it and Azerbaijan, though the impact on company's operations has been minimal to date.
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Bahamas Petroleum Co PLC - Caribbean and Atlantic margin focused oil and gas company - Expects Perseverance 1 well in the Bahamas to spud before Christmas and is targeting prospective resources of 0.7 to 1.4 billion barrels of oil.
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SolGold PLC - Australian gold and copper mining company - Had expected fast delivery of pre-feasibility study on the Alpala project in Ecuador for completion at the end of the third quarter of 2020; however due to Covid-19 restricting the access to the site, critical geotechnical data was not available on time, leading to the study being delayed. Geotechnical numerical modelling, mine design and metallurgy appraisal is being finalised.
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Katoro Gold PLC - Tanzania-focused gold and nickel explorer - Potential funders have started extensive due diligence on Blyvoor gold tailings project. Resource update and upgrade for project is expected to be completed by the end of October.
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By Dayo Laniyan; dayolaniyan@alliancenews.com"all the
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