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(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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React Group PLC - South Derbyshire, England-based cleaning, hygiene and decontamination firm - For the financial year that ended September 30, expects to report revenue of around GBP13.6 million, almost double the GBP7.1 million the year before. The guidance is in line with market consensus. Adjusted earnings before interest, tax, depreciation and amortisation are expected to be around GBP1.0 million, undershooting consensus estimates of GBP1.3 million, but improving from GBP790,000 the year before. Says trading in the final quarter and into the new year was 'especially strong' across all divisions. Updating on the deferred consideration for the Fidelis acquisition, React now expects a maximum amount of GBP300,000 due to the vendors. This is based on Fidelis's financial performance thus far. "We remain confident that the high-quality services the group provides will continue to be very much in demand and that we will meet our growth expectations for the current year," says Chief Executive Officer Shaun Doak.
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Novacyt SA - Surrey-based biotechnology group focused on clinical diagnostics - Says its genesig Real-Time PCR SARS-CoV-2 Winterplex 3G assay panel is approved in the UK under the Coronavirus Test Device Approvals regulations. The company now has six PCR tests on the CTDA register of approved Covid-19 diagnostics products. "This approval comes in advance of the winter virus season in the northern hemisphere and means the company can now sell Winterplex 3G in the UK," it explains. Winterplex 3G can detect influenza A, influenza B, respiratory syncytial virus, and SARS-CoV-2.
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Sovereign Metals Ltd - Perth, Scotland-based rutile exploration and development company focused in Malawi - Says results from its targeted deep air-core drilling programme extend "substantial zones of high-grade rutile mineralisation" to a depth beneath the initial planned open pit shells. Highlights include results such as 28 metres a 1.07% including 5 metres at 1.52% rutile. "We're really pleased with the continued success from the deep air-core program which is confirming the potential for several pit expansions at depth. It remains a very busy time for the company as we continue to receive drilling results and our [pre-feasibility study] is approaching a peak level of activity," Managing Director Julian Stephens comments.
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Omega Diagnostics PLC - Alva, Scotland-based specialist medical diagnostics company - Ahead of its annual general meeting on Wednesday, says its full-year expectations remain unchanged, but reaffirms that it expects revenue in the first half ended September 30 to be 18% lower year-on-year at GBP3.4 million. Omega confirms it has submitted comments to the World Health Organisation on the draft performance evaluation report for Visitect CD4 Advanced Disease Rapid test clinical study in Kenya. Says the submission was "comfortably ahead" of deadline, and it expects WHO to publish to pre-qualification report "shortly". It remains confident of receiving full GBP4.0 million deferred consideration in the near term. Also the notes the dispute with UK Department of Health & Social Care over a GBP2.5 million payment is ongoing. "The board has agreed in principle to mediation with DHSC, although the timing for mediation is not yet confirmed," Omega says.
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By Elizabeth Winter; elizabethwinter@alliancenews.com
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