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TRADING UPDATES: Virgin Wines loses fizz; M&C revenue improves

Thu, 28th Jul 2022 20:54

(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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Virgin Wines UK PLC - direct-to-consumer online wine retailer - Revenue in year ended June 30 declines 6.3% to GBP69 million from GBP73.6 million. However, revenue is up 63% from pre-Covid times, "highlighting that the business has retained much of the substantial growth achieved during the Covid-19 lockdowns, despite the lifting of restrictions and opening up of hospitality". Says earnings before interest, tax, depreciation and amortisation fall to GBP6.3 million from GBP7 million. Virgin Money adds that 105,000 new customers were acquired across all schemes in the year, 5% ahead of expectations. "The group's focus has been on customer acquisition, as well as mitigating the pressures of rising costs and supply chain challenges. It has managed these successfully as a result of its resilient business model, its flexible open-source wine-buying, increased levels of UK bottling and its ability to manage margins through the bespoke pre-mixing of cases," Virgin Wines says.

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M&C Saatchi PLC - London-based advertising agency - Says net revenue in first half of 2022 rises 10% year-on-year, due to a "strong performance in our high growth specialisms and in the UK, Americas and Asia, and is further evidence of the successful growth strategy launched at the start of 2021". Headline pretax profit for whole of 2022 predicted to hit GBP31 million, up from GBP27.3 million.

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Hotel Chocolat Group PLC - Royston, Hertfordshire-based chocolatier - Says Hotel Chocolat KK joint-venture in Japan gains court approval for civil rehabilitation restructuring proceedings. Company had loaned the JV GBP23 million over the period 2018 to 2022 for working capital purposes. In addition, it entered into guarantee arrangements of up to GBP5.8 million for loans made to JV by Japanese leasing companies. Hotel Chocolat has 20% stake in the JV.

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Empresaria Group PLC - Crawley, England-based specialist staffing company - Says net fee income rises 15% yearly in first half of 2022 to GBP32.6 million. "We delivered very strong year-on-year growth in offshore services which has continued to go from strength to strength and now employs over 2,700 people. We also had good growth in our professional and IT operations in APAC. As expected, net fee income from healthcare reduced after a very strong 2021 where we benefitted from significant demand from Covid-19 vaccination programmes," company says. Expects 2022 results in line with market expectations.

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Fintel PLC - Huddersfield, England-based technology and support for retail financial services sector - Says total revenue climbs 1.6% to GBP32.2 million in first half of 2022, from GBP31.7 million a year earlier. Adjusted Ebitda improves 4.8% to GBP8.7 million from GBP8.3 million. "In the first six months of 2022 the business has continued to trade well with strong core revenue growth in line with the board's expectations and outpacing the revenue impact of strategic disposals," Fintel says.

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Headlam Group PLC - Birmingham-based floor coverings distributor - Hails "pleasing" first half of 2022, shaking off "economic environment and inflationary impact on consumer spending". Headlam says: "Underlying profitability improved year-on-year. Revenue was only marginally below the prior year period, and commissioned specialist research indicates the company improved its market share in the period." Revenue declines 1.8% annually to GBP323.8 million from GBP329.9 million. Revenue rises 5.1% in continental Europe but declines 2.9% in UK. Says on track to meet market expectations.

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Epwin Group PLC - Solihull, England-based building products manufacturer - Says revenue in first-half of 2022 13% ahead of "strong 2021 comparative period at GBP178.0 million". Says revenue hike driven by pricing, as Epwin bods to recover input costs. "Raw material costs continued to increase in the first half, with PVC resin hitting an all-time high in April, although this has subsequently plateaued. Despite disruption to the supply chains in the wider market, the group has been able to secure sufficient raw materials to meet demand and expects to be able to continue to do so. The group continues to work with its customers to pass-on heightened costs in an equitable manner through price increases and surcharges," Epwin says. "Whilst trading conditions have moderated slightly in June and July, and although also mindful of the wider macro-economic conditions, the board remains confident of achieving expectations in 2022."

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Dekel Agri-Vision PLC - West Africa-based agriculture company - Says colour sorter for large-scale cashew processing plant at Tiebissou, Ivory Coast has been installed. Commissioning has begun, leading to "significant increase in daily production in the coming weeks". Shelling machines have arrived at Abidjan port, roughly 280 kilometres from town of Tiebissou. "Once installed and commissioned we have the capacity to reach our goal of processing 10,000 tonnes of raw cashew nuts in 2023," Dekel adds. "The cashew operation is running smoothly and is well-positioned to deliver positive operating cash flow from Q4 2022 onwards."

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Sylvania Platinum Ltd - South Africa-focused platinum miner - Says Sylvania Dump Operations output increases to 18,837 4E platinum group metals ounces in fourth quarter, up 19% from 15,840 ounces in third quarter. Operations achieve USD34.9 million net revenue for quarter, down from USD47.9 million in third quarter as PGM basket price declines 22%. Group earnings before interest, tax, depreciation and amortisation decrease to USD16.8 million from USD30.0 million.

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Atome Energy PLC - Leeds, England-based producer and marketer of green hydrogen and ammonia - Has entered into its first front-end engineering design contract in relation to its first phase 60 megawatt Villeta project facility. The contract has been signed with Concret-Mix, a local Paraguayan company with extensive experience in this type of engineering work, it says. "The entry into the FEED contract is the next step in what will in due course culminate in an aggregate of 400MW of green hydrogen and ammonia production in Paraguay, the first phase of which at Villeta is expected to commence production by first quarter 2025," says Chief Executive Olivier Mussat.

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Kazera Global PLC - diamonds and rare earths explorer in South Africa and Namibia - Says Department of Mining and Mineral Resources in South Africa dismisses a third-party appeal against the grant of mining permit for Kazera's 60%-owned Whale Head Minerals. "WHM now expects to shortly receive final documentation allowing it to commence production operations of heavy mineral sands at the Walviskop mine in South Africa," Kazera added.

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Thor Mining PLC - Australia-focused exploration and development company - Says drilling in Northern Territory assets finds 46 metre intersection of magnetite skarn and weakly disseminated tungsten-molybdenum-copper mineralisation. "Exploring for this style of mineralisation is difficult without the presence of significant amounts of magnetite that can be easily defined in magnetic surveys. Other magnetic targets along strike show the potential for further mineralisation at Molyhil," Managing Director Nicole Galloway Warland says. However, company notes assay results "were lower than visible grade estimates". Samples have been "resubmitted for analysis using two different analytical techniques".

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Cambridge Cognition Holdings PLC - Cambridge-based assessment software provider - Signs two new pacts in field of post-traumatic stress disorder. Strikes research pact with United States Department of Defense, having earlier secured a deal with a "top 10 pharmaceutical company".

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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says has nine Bricklive events currently happening throughout UK, USA, Canada, Germany and Northern Ireland.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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15 Nov 2023 11:41

IN BRIEF: Thor Energy shares surge on "significant" uranium find

Thor Energy PLC - US and Australia-focused mineral exploration company - Says drilling has revealed significant uranium mineralisation at its Wedding Bell and Radium Mountain projects in southwest Colorado. Reports up to 3,186 parts per million or 0.32% uranium at the Rim Rock mine along a strike of historic mined-out areas. Says 16 drillholes now complete at the Rim Rock and Section 23 prospects, with uranium mineralisation intercepted in all of them. Drilling will continue at Rim Rock before commencing at the Groundhog prospect. Thor Energy expects the drilling programme to conclude later this month.

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8 Nov 2023 14:12

IN BRIEF: Thor Energy says Investigator Resources starts Molyhil drill

Thor Energy PLC - London-based, US and Australia-focused mineral exploration company - Says Investigator Resources Ltd starts drilling at Molyhil tungsten project in northern Australia. Thor holds 100% stake in Molyhil. Last year, it executed an AUD8 million, or GBP4.2 million, farm-in and funding agreement with IVR to accelerate exploration at Molyhil.

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7 Nov 2023 18:11

TRADING UPDATES: Actual Experience appoints administrators

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

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3 Nov 2023 14:48

Thor Energy ups stake in Alford East project to 80pc

(Sharecast News) - Thor Energy increased its stake in the Alford East Copper Oxide Project to 80% on Friday, following the completion of the stage two expenditure obligations.

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3 Nov 2023 10:45

IN BRIEF: Thor Energy increases stake in Alford East project to 80%

Thor Energy PLC - London-based, US and Australia-focused mineral exploration company - Increases Alford East copper oxide project interest to 80% from after acquiring a further 29% interest from Spencer Metals Pty Ltd. Says Spencer received consideration of AUD250,000, or GBP131,854, in the form of around 9.3 million fully paid Thor shares issued on Friday at AUD0.027 per share. Managing Director Nicole Gallaway says: "As exploration accelerates at our Alford East Copper-REE project in collaboration with Fleet Space Technology, Thor is excited to have completed its stage 2 earn-in resulting in an 80% interest in this highly prospective project. This demonstrates our confidence in the Alford East project and the value we believe it can bring to the company."

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18 Oct 2023 13:30

IN BRIEF: Thor Energy starts uranium drilling at Colorado projects

Thor Energy PLC - London-based, US and Australia-focused mineral exploration company - Announces commencement of drilling at its 100%-owned Wedding Bell and Radium Mountain projects. Both are located in the Uravan mineral belt in southwest Colorado. Thor says the 4,000 metre drilling programme will target uranium mineralisation along strike of the Rim Rock and Groundhog mines and focus on testing for airborne anomalies. Company will conduct downhole gamma surveys throughout the programme. Drilling is expected to take four to six weeks with completion in late November, with sample analysis results expected in December or January. Says current uranium spot price is USD73 per pound.

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3 Oct 2023 09:59

Thor Energy surveying underway at Alford East using Fleet Space tech

(Alliance News) - Thor Energy PLC on Tuesday said its mineral exploration partnership with Fleet Space Technologies Pty Ltd has started at the Alford East copper project in South Australia with surveying underway.

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29 Sep 2023 14:35

EARNINGS: Supply@Me loss narrows; notes strong pipeline

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

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20 Sep 2023 19:15

TRADING UPDATES: Thor Energy fundraise to support drilling activities

(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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18 Sep 2023 11:38

IN BRIEF: Thor Energy halts Sydney trades due to planned capital raise

Thor Energy PLC - London-based uranium and vanadium explorer - Says trading of its shares on the Australian Securities Exchange in Sydney has been halted, effective Monday. This is in accordance with ASX listing rules due to its plans to raise capital towards funding its exploration activities, particularly towards its "priority" uranium assets. Says the trading of shares on AIM in London is unaffected. The ASX trading halt will remain in place until the earlier of Wednesday or a further release by the company, Thor Energy says.

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13 Sep 2023 18:54

Thor Energy hails government approval for testing at copper project

(Alliance News) - Thor Energy PLC on Wednesday celebrated after the South Australian government approved the first stage of in-groundwork at Kapunda, the firm's in-situ recovery project.

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4 Sep 2023 11:55

Thor Energy partners with Fleet Space for mineral exploration

(Alliance News) - Thor Energy PLC on Monday said it will collaborate with Fleet Space Technologies Pty Ltd to carry out ambient noise tomography surveys at the Alford East Copper-REE project in southern Australia.

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17 Aug 2023 16:19

Thor gets needed approvals for new drilling programme

(Sharecast News) - Thor Energy announced on Thursday that it has secured all the necessary approvals for its upcoming drilling operations in the Wedding Bell and Radium Mountain projects.

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17 Aug 2023 10:37

AIM WINNERS & LOSERS: Tremor cuts guidance after soft first half

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

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17 Aug 2023 09:22

Thor Energy gets all approvals needed for Colorado projects drilling

(Alliance News) - Thor Energy PLC on Thursday said it has received all approvals necessary for drilling at its 100%-owned Wedding Bell and Radium Mountain projects in Colorado, US.

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