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(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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Taseko Mines Ltd - Vancouver-based mining company mainly focused in North America - In the three months ended March 31, mines 20.3 million tonnes. This represents a 12% drop from the previous year's figure of 32.0 million tonnes mined. Explains this was due to longer dual distances. Tonnes milled fall slightly by 0.2% to 7.0 million tonnes from 7.2 million tonnes. Production drops 0.8% to 21.4 million pounds of copper from 22.2 million pounds though sales rise by 5.4% to 27.4 million pounds from 22.0 million pounds. Says production impacted by lower grades and recoveries from ore mined in the upper benches of its Gibraltar pit. Swings to net profit of CAD5.10 million, around USD4 million, from a loss of USD11.2 million the previous year. Revenue climbs 36% to USD118.3 million from USD86.7 million. Chief Executive Stuart McDonald says: "Copper markets continue to be robust and Taseko's realized copper price of USD4.59 per pound and sales volumes of 27 million pounds drove strong financial results in the first quarter." McDonald also notes inflationary pressures on input costs, notably diesel prices.
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Goldplat PLC - gold recovery operations in South Africa and Ghana - For the nine months to March 31, reports operating profit for operating entities of GBP6.0 million, up 43% from GBP4.2 in the same period the previous year. Total operating profit for the quarter ended March 31 totals GBP2.3 million, nearly double the previous year's figure of GBP1.2 million. Says strong figure was supported by an increased operating performance in South Africa which totalled GBP1.6 million, up from GBP575,000 the previous year.
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East Imperial PLC - London-based premium mixers maker - Pretax loss in 2021 widens to GBP5.4 million from GBP972,000 the previous year. Revenue rises 62% to GBP2.8 million from GBP1.7 million in 2020. Says it has made a strong start to 2022, in line with its expansion plans. Sales rise 62% over the year, driven by the lifting of Covid-19 restrictions in the second half across key markets as well as growth in off-trade and direct-to-consumer, East Imperial explains. Founder & Chief Executive Tony Burt said: "We have been encouraged by trading so far this year and the progress we are making against our strategy. Like every company in our industry, we are having to manage supply chain headwinds which are impacting costs. However, we do expect to mitigate this impact through greater operational efficiency this year."
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Clarify Pharma PLC - London-based investor in psychedelics companies - Posts a pretax loss of GBP1.3 million in the year ended November 30. The previous year it did not post a profit or loss. Total assets at November 30 stood at GBP2.6 million. Company completed its IPO on June 11. Says deal flow of potential investments remains strong looking forward. Adds it is well positioned to take advantage of the growing psychedelics market.
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Directa Plus PLC - London-based graphene nanoplatelets supplier - Narrows pretax loss to EUR3.4 million in 2021 from a loss of EUR4.7 million the previous year. Revenue rises 34% to EUR8.6 million from EUR6.4 million. Says these figures exceeded market expectations. Explains revenue increase was mainly driven by growth in its environmental remediation services. Current year trading in line with 2021, expects an acceleration through the second quarter and into the second half of the year. Supports current consensus revenue forecasts for 2022. Adds it is waiting on the final decision regarding the award of a significant tender in Romania for its environmental remediation services.
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Home REIT PLC - London-based homeless accommodation investor - Income in the six months to February 28 totals GBP17.5 million. This is up significantly from the GBP3.1 million recorded in the period from August 19, 2020 to February 28, 2021. Pretax profit surges to GBP38.3 million from GBP11.4 in the same periods. Company acquires 847 investment properties within the period. Portfolio valued at GBP713.4 million at February 28 with an average net initial purchase yield of 5.9%. Says its performance was strong in the half, exceeding its expectations at IPO. Company targeting a dividend of 5.5 pence per share for the year ending August 31.
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Pebble Beach Systems Group PLC - Weybridge, England-based firm provides content management software for broadcasters and video streaming services - Pretax profit in 2021 rises 37% to GBP1.5 million from GBP1.1 million the previous year. Revenue climbs 27% to GBP10.6 million from GBP8.4 million. Recurring revenue from support contracts, representing 43% of the company's total revenue, rises 15% against the previous year. Order intake up 75% against 2020. Adds when adjusting for Covid-related delays, order intake was still up 17% against 2020. Current year started in line with expectations, company says. Net asset value per share at February 28 stands at 111.16 pence, up from 102.75p at the same time the previous year.
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Newbury Racecourse PLC - Newbury, England-based racing, entertainment and events company - Swings to a pretax profit of GBP179,000 in 2021 from a loss of GBP2.3 million the previous year. Revenue rises 75% to GBP14.8 million from GBP8.5 million. Says company continued to be "severely" impacted by the pandemic during the year, hindering its ability to operate normally. Says the lifting of lockdown restriction has allowed company to forward plan. Declares special interim dividend of 89.6 pence per share. Chair Dominic Burke says: "Despite this positive development, the impact of the financial operating losses from 2020 and the first half of 2021 were substantial and has set the business back from its original strategic investment plan, so we have needed to adapt the business accordingly. The fact that we are able to report a pretax profit for the year is of significant importance."
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Arix Bioscience PLC - London-based venture capital investor in biotech firms - Swings to a pretax loss of GBP61.1 million in 2021 from a profit of GBP126.3 million the previous year. Revenue falls 29% to GBP340,000 from GBP477,000. Net assets at December 31 falls 22% to GBP255.4 million from GBP328.2 million. Net asset value per share falls to 198.0 pence from 242p. Gross portfolio value falls to GBP118.2 million from GBP152.0 million. Company says: "We enter a new year with conviction in our portfolio companies as we focus on progress in their clinical programmes, with the potential for multiple value enhancing inflexion points in 2022."
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By Heather Rydings; heatherrydings@alliancenews.com
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