(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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IQGeo Group PLC - Cambridge-based geospatial productivity and collaboration software company focused on the telecoms and utility industries - Expects to reported 2021 results marginally ahead of expectations, with growth across all key metrics. Revenue seen up 48% to no less than GBP13.7 million from GBP9.2 million in 2019. "The group has a strategic focus on becoming a high recurring revenue business and expects to report that approximately 43% of the group's total revenues are now recurring," company says. Expects earnings before interest, tax, depreciation and amortisation loss of no more than GBP1.0 million, improved from GBP2.5 million in 2020. c
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Equals Group PLC - London-based payments services for small and medium enterprises - Says 2021 revenue is up 52% year-on-year to GBP44.1 million. In the fourth quarter of 2021, revenue increases 96% year-on-year to GBP15.3 million, and is up 28% from the quarter before. Says early trading in 2022 has continued strong trend. Says 2021 earnings are in line with management expectations.
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InnovaDerma PLC - London-based developer and marketer of beauty and personal care products under brands such as Roots and Nuthing - Says its six months to end-December performance is markedly improved compared to the first half of 2020. Company says this is thanks to its new strategy of driving increased profitable sales through gross margin improvement, radical simplification of business operations, rigorous cost control and the prioritisation of our Skinny Tan brand. Skinny Tan is the company's largest - at 84% of revenue - and highest priority future growth driver. Revenue falls to around GBP3.7 million from GBP4.1 million, "primarily driven by ceasing loss-making sales promotions and reducing marketing investment in lower priority brands such as Nuthing".
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Frontier IP Group PLC - London-based intellectual property commercialisation company - Says it enjoyed a strong first half to the financial year in particular due to the IPO on the Nasdaq Global Select Market of portfolio company Exscientia PLC. Exscientia reported a strong set of quarterly results post admission and announced a strategic research collaboration with Sanofi that will entitle Exscientia to an upfront cash payment of USD100 million with the potential for USD5.2 billion in total milestones plus tiered royalties. The uplift in book value of this holding is expected to make a strong contribution to the performance of the copmany in in the first half of 2022. "While it is clear there are many challenges facing markets and industry, we anticipate reporting a set of results for H1 2022 ahead of management expectations and continuing to build on progress in the balance of the financial year. We remain confident on the group's prospects for the remainder of the financial year and beyond," company says.
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Bradda Head Lithium Ltd - North America-focused lithium development - Announces positive results from its preliminary metallurgical test-work programme that it has completed on samples from its 100%-owned Burro Creek East lithium deposit. Says the results have shown that it is possible to upgrade the lithium content using an extraction process from a low temperature acid approach. "Following on from our consistently reported exploration results we are now delighted to highlight encouraging test-work results from our new look metallurgical test work programme with core from our 2021 Burro Creek East drill programme. These results demonstrate the potential for a simple low-temperature sulphuric acid leach approach at atmospheric pressure, utilising standard extraction equipment," says CEO Charles FitzRoy.
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Marshall Motor Holdings PLC - Cambridge-based auto retailer - Says subsidiary of Constellation Automotive Holdings Lt has bought 65% of its shares, as part of a cash offer announced in November.
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ECO Animal Health Group PLC - Surrey-based pet and livestock pharmaceuticals - Updates on its operations in China. Notes that pork price in China has increased from less than RMB12 per kilogramme in early October 2021 to over RMB18 per kg in early December 2021 before settling between RMB15 per kg and RMB16 per kg in early January 2022. "Whilst the improvement in the pork price has resulted in improved trading conditions for pork producers, the commodity price continues to be volatile and producers remain cautious. Consequently, sales of Aivlosin during the first three quarters of our financial year are subdued compared to the same period last year," company says. Adds that revenue generated elsewhere in the Group continues in line with the prior year and, overall, the Board expects to report full year revenue in line with current market expectations.
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AB Dynamics PLC - Bradford On Avon, Wiltshire-based testing systems and measurement products for automotive market - Reports that trading during the first four months of financial 2022 remains consistent with its expectations. "Whilst the current operating environment still presents challenges in relation to supply chain disruption, inflation and labour availability, underlying demand conditions in our key international markets and customer activity levels both remain positive. The group continues to make good progress in the execution of its strategy and the Board's expectations for the year are unchanged," company says. Additionally announces that its ABD Solutions arm has been awarded its first development contract, by an industrial equipment supplier in Japan, for a driverless retrofit solution for mining vehicles. Contract is worth GBP1.1 million over 18 months. "While not financially significant... [the contract] will provide the opportunity to validate the technology for this application".
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CyanConnode Holdings PLC - Cambridge, England-based wireless communication technology provider - In nine months to end-December, turnover doubles to GBP6.8 million from GBP3.4 million year prior. Around GBP5.9 million cash received from customers, up from GBP2.9 million. "We have continued to make solid progress during the financial year with successful deployments which have led to record turnover and cash collection. I am also pleased to confirm that the Company expects to meet market forecasts for the current financial year," Chair John Cronin says.
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Hostelworld Group PLC - Dublin-based online booking platform - 2021 bookings totalled 1.5 million, which is only 21% of 2019's bookings. "2021 started with a strong recovery in Central America and domestic demand in the US and Australia. In May-June, several southern European destinations opened their borders with strong growth over the summer months. During H2 Central America bookings surpassed 2019 levels, with southern European destination's bookings growing to 60-80% of 2019 levels until the latter part of the year where the Omicron variant saw a resumption of travel restrictions in many destinations," company says. Says monthly operating cash outflow continuing to reduce throughout the year versus 2020 levels. "Finally, our liquidity position remains strong, driven by our relentless focus on cost control coupled with the successful term loan facility transaction in February 2021," CEO Gary Morrison says.
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Phoenix Copper Ltd - British Virgin Islands-based base and precious metals production and exploration company - Announces assay results from additional drilling at the Red Star silver - lead deposit, adjacent to the Empire mine open pit project in Idaho, US. Seven exploratory holes were drilled with all encountering further mineralisation. Silver and lead grades encountered in the drilling are consistent with, or exceed, those reported in the Red Star maiden resource; copper, gold and zinc are also encountered in significant quantities.
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Schroder UK Public Private Trust PLC - formerly Woodford Patient Capital Trust, invests in both listed and private UK companies - Makes EUR12.0 million investment in enewed electronics marketplace Back Market, which is incorporated as Jung SAS, as part of its USD510 million series E funding round.
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Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - Announces launch of ThreatScan-AS1, an integrated portable X-Ray system for bomb squads and security professionals. "Private demonstrations have already been carried out, and the system will be shown to the wider security community for the first time at the upcoming Intersec exhibition in Dubai,"company says.
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Mpac Group PLC - Coventry, England-based packaging company - Says financial 2021 trading performance in line with market expectations and encouraging outlook for financial 2022. Expects to report revenue, underlying profit before tax, and closing cash in line with market expectations for 2021. Closes 2021 with order book of around GBP77.0 million, up from GBP55.5 million at end-December 2020. "This, along with a healthy prospect pipeline, means the Group has an encouraging outlook for FY22," company says. Results for 2021 will be announced in the week starting March 14.
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Hemogenyx Pharmaceuticals PLC - London-based developer of drugs for blood diseases - Announces progress in the development of its CDX programme. Inks a service agreement with Selexis SA to develop the cell line for the company's CDX bispecific antibody for the treatment of acute myeloid leukemia. Company will leverage Selexis' proprietary "SUREtechnology" platform, a suite of cell line development tools and technologies that significantly reduces the time, effort, and costs associated with developing high-performance mammalian cell lines.
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PYX Resources Ltd - zircon producer focused on Indonesia - Begins sales activity of natural rutile from its Mandiri deposit as a by-product, having maximised its production capacity at its mineral separation plant to 24,000 tonnes per annum in November. Notes robust market fundamentals for rutile, an unrefined high-grade titanium dioxide feedstock, where demand is expected to exceed global supply. Says production and sales of additional by-products - ilmenite and leucoxene - to follow in 2022.
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Great Western Mining Corp PLC - gold, silver and copper explorer and developer in US state of Nevada - Says drilling contract signed for spring start-up at Olympic Gold and Rock House. Adds that road upgrade will open up Mineral Jackpot for both drilling and spoil heap recovery. Survey results at Eastside mine "reveal exciting copper potential". "We anticipate a busy and productive year for Great Western on all fronts at an exciting time in the Company's development. We have a broad range of excellent prospects for both precious and base metals, a first-class team in place to follow through on them and the funding to go to the next stage. At the time of writing our prospects are under deep snow during a severe winter but, in the spring, field operations will recommence in earnest and we will be ready for that," Chair Brian Hall says.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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