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Share Price: 185.00
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UK EARNINGS SUMMARY: InfraStrata Targets Breakeven At Titanic Shipyard

Fri, 01st May 2020 11:18

(Alliance News) - The following is a round-up of quarterly, interim or full-year reports by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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InfraStrata PLC - natural gas storage and infrastructure - Pretax loss in six months to January 31 widens to GBP2.9 million from GBP394,627 amid sharp rise in management and administrative expenses to GBP2.8 million. Generates revenue of GBP515,230, versus none last year. Targets break-even at Harland & Wolff Belfast shipyard inside next 12 months.

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Flowtech Fluidpower PLC - fluid power components and services - Revenue in 2019 edges 0.3% higher to GBP112.4 million from GBP112.1 million, but pretax profit falls by 32% to GBP4.7 million from GBP6.9 million. Reports GBP1.7 million in depreciation of right-of-use assets, while administrative expenses rise 12% to GBP26.2 million. Decides against final dividend, means full-year payout down 65% to 2.13 pence per share from 6.07p.

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Block Energy PLC - exploration and production - Posts a widened pretax loss in 18 months to December 31. Previously changed its year-end date from June 30. Loss totalled USD6.1 million versus USD2.0 million. Generated revenue of USD314,000 versus USD179,000.

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Aminex PLC - oil & gas producer - Pretax loss in 2019 narrowed to USD15.2 million from USD48.5 million. Reported exploration impairments of USD10.9 million, down 75%. Revenue fell 42% to USD357,000 from USD617,000.

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Emmerson PLC - potash developer - Pretax loss in 2019 narrowed to GBP1.1 million from GBP1.8 million, amid absence of GBP698,000 in reverse acquisition expenses. Has moved to cut down on expenditure amid Covid-19.

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Taseko Mines Ltd - copper producer - Says revenue in three months to March 31 down 12% year-on-year to CAD62.1 million, about GBP35.2 million. Copper production up 30% to 32.4 million pounds from 24.9 million pounds.

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Panther Metals PLC - minerals explorer - Pretax loss in 2019 widened to GBP749,948 from GBP519,134 due to initial public offering costs of GBP305,134. Says outlook positive amid promising gold market.

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Shefa Gems Ltd - exploration and development - Swings to loss of NIS7.9 million, about GBP1.8 million, from NIS6.0 million. Aiming to continue mine planning procedures with the Israeli Lands Authority.

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Africa Opportunity Fund Ltd - investor - Net asset value per share at December 31 year-end down 4.9% to USD0.638 from USD0.671. Says performance lagged that of the Lusaka Stock Exchange in 2019.

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Marwyn Value Investors Ltd - investor - Reports share price total return of negative 17% compared to FTSE All-Share which gained 19%. Net assets down 29% to GBP105.0 million from GBP147.1 million.

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Papillon Holdings PLC - investment vehicle - Pretax loss in 2019 widens to GBP582,000 from GBP397,000. Administrative expenses up 20% to GBP443,000. Says acquisition of 50% stake in Pace Cloud Ltd progressing well.

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Golden Rock Global PLC - investment vehicle - Pretax loss in 2019 stretched to GBP393,871 from GBP227,983. Professional fees more than doubled to GBP272,308 during year where it came close to sealing acquisition before target company pulled out.

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New Century AIM VCT2 PLC - venture capital trust - 2019 NAV per share inches 2.4% higher to 49.53p from 48.38p, but axes dividend after 3.40p payout in 2018. Says UK general election result boosted certainty but notes volatility from Covid-19.

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Conygar Investment Co PLC - investor - Net asset value per share down 0.2% to 177.8 pence in six months to March 31 from 178.2p in September. NAV hurt by GBP1.3 million writedown at Cross Hands retail park in Carmarthenshire, Wales, due to Covid-19.

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Pires Investments PLC - investor - Net asset value in year ended October 31 climbs sharply to GBP2.6 million from GBP949,617 in year before. Pretax profit more than doubles to GBP865,510 from GBP322,069.

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Cardiff Property PLC - property investor - Ups dividend for six months to March 31 by 4.3% to 4.8 pence per share from 4.6p and NAV per share up 5.4% to 23.03p from 21.84p. Reports property market has uncertain picture due to Covid-19 but says Thames Valley area it operates in has been historically resilient.

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Weiss Korea Opportunity Fund Ltd - real estate investment - NAV per share rises 3.7% in 2019 to GBP1.5559 from GBP1.4993. Raises annual dividend by 21% to 4.1195p per share from 3.4155p. Noted that it outperformed the MSCI South Korea Index in 2019.

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Sigma Capital Group PLC - residential development - Revenue in 2019 rises 11% to GBP13.9 million from GBP12.5 million, with pretax profit climbing 17% to GBP13.0 million from GBP12.2 million. Holds total payout at 2.0p per share. Says Covid-19 impact difficult to predict. Will change year-end date to September 30 to better reflect season trading patterns.

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Highcroft Investments PLC - property investor - Net asset value per share falls 2.7% in 2019 to 1,175p from 1,205p. Slices final dividend by 20% to 27p per share from 33.75p, total payout down 8.6% to 48p from 52.50p. Net property income up 16% to GBP5.7 million and 12% rise in property valuation to GBP86.7 million from GBP77.7 million.

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Hemogenyx Pharmaceuticals PLC - cancer therapies - Pretax loss narrows to GBP1.5 million in 2019 from GBP1.6 million. Administrative expenses down 2.5% to GBP1.6 million and company reports other income of GBP213,126, more than double the amount from 2018.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
17 Jan 2024 08:39

Taseko Mines inks USD50 million sale of 2% royalty to Taurus Mining

(Alliance News) - Taseko Mines Ltd on Tuesday said that its latest royalty agreement will support construction activities at the Florence copper project, which it claims could be a "major" supplier for the US copper cathode market.

Read more
10 Jan 2024 14:13

IN BRIEF: Taseko hikes copper production in "strong finish" to year

Taseko Mines Ltd - North America-focused mining company - Says its Gibraltar mine produced 34 million pounds of copper and 369,000 pounds of molybdenum in the fourth quarter of 2023. Copper sales volumes reached 36 million pounds. Company says production was supported by strong 0.27% copper grades. Mill throughput averaged 83,000 tonnes per day and was affected by extra downtime needed for maintenance and monitoring. Taseko adds that for 2023, the mine produced 123 million pounds of copper, a 26% increase on production for 2022 and "well above previous guidance".

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20 Nov 2023 14:30

IN BRIEF: Taseko Mines promotes Operations vice president to COO

Taseko Mines Ltd - North America-focused mining company - Appoints Richard Tremblay as chief operating officer. Tremblay joined Taseko in 2014 as general manager of its Gibraltar copper-molybdenum mine in British Columbia, Canada. He was later promoted to senior vice president of Operations. Taseko says Tremblay "will continue to have responsibility for all of Taseko's operations and project development activities", and "has been instrumental in the development of the Florence Copper project". Company also hires Terry Morris as vice president of Operations.

Read more
6 Nov 2023 14:31

IN BRIEF: Taseko investors gain approval for extra Florence funding

Taseko Mines Ltd - North America-focused mining company - Says proceeds from project-level financings will in due course be available to its Florence Copper project in Arizona. Taurus Mining Royalty Fund LP has obtained investment committee approval for a USD50 million royalty, for 1.95% of gross revenue from all copper sales. Meanwhile Societe Generale SA has credit approval to provide Taseko with a USD50 million secured debt facility, which also contains a USD25 million uncommitted accordion feature, should Taseko need to increase it. News follows previously announced commitments from Mitsui & Co Ltd and Bank of America Corp.

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2 Nov 2023 14:34

EARNINGS AND TRADING: Kanabo inks CBD deal, Taseko boosts production

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

Read more
4 Oct 2023 17:18

IN BRIEF: Taseko Mines sees jump in quarterly production at Gibraltar

Taseko Mines Ltd - North America-focused mining company - Produces 35 million pounds of copper and 369,000 pounds of molybdenum at the Gibraltar mine in the third quarter of 2023. Says the 25% quarter-on-quarter increase in copper production was a result of high grades, improved recoveries and increased mill throughput. Says the 60% quarter-on-quarter increase in molybdenum production was also due to higher grades, as well as mining progressing deeper into the Gibraltar pit. Explains that a port workers strike in July results in shipping delays and a build-up of copper concentrate inventory, resulting in third-quarter sales volumes lagging production by three million pounds. Notes this excess inventory is expected to be shipped and sold in the fourth quarter.

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14 Jul 2023 11:11

Taseko Mines increases revolving credit facility to USD80 million

(Alliance News) - Taseko Mines Ltd on Friday said it has increased its revolving credit facility to USD80 million, from USD50 million.

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30 May 2023 14:29

DIRECTOR DEALINGS: Hill & Smith chair buys GBP630,000 in shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and not separately reported by Alliance News:

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19 Apr 2023 14:01

DIRECTOR DEALINGS: 888 Non-Exec Ori Shaked buys 260,000 shares

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

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24 Feb 2023 11:34

Taseko Mines revenue suffers due to copper price drop in 2022

(Alliance News) - Taseko Mines Ltd on Wednesday said revenue was down, as copper prices and rising fuel costs impacted earnings.

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3 Feb 2023 15:36

IN BRIEF: Taseko Mines director sells 49,700 shares worth CAD117,789

Taseko Mines Ltd - Vancouver-based mining company mainly focused in North America - Says Director Russell Hallbauer sells 49,700 shares at CAD2.37 each on January 31, worth around GBP1.45 each, at a total value of GBP72,065. Also announces that it is in discussions with Sojitz Corp to buy a 12.5% stake in Gibraltar Mine.

Read more
26 Jan 2023 17:08

Director dealings: Taseko Mines director sells options

(Sharecast News) - A director of Taseko Mining sold options in shares of the copper mining outfit.

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13 Jan 2023 19:32

TRADING UPDATES: Premier Miton assets grow; Taseko Mines gets funds

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

Read more
13 Jan 2023 19:32

TRADING UPDATES: Premier Miton assets grow; Taseko Mines gets funds

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

Read more
21 Dec 2022 07:42

IN BRIEF: Mitsui agrees copper cathode offtake from Taseko's Florence

Mitsui & Co - Tokyo-based conglomerate - Subsidiary Mitsui USA enters into agreements with Florence Copper LLC for copper cathode offtake and an equity conversion right. Says Florence plans to produce low-carbon copper cathode in Arizona, and Mitsui will pay USD50 million to cover part of the development costs. Says Florence plans to produce copper using the in-situ recovery for extracting the metal from underground deposits. This method will "enable mining operation with carbon emissions approximately 80% lower compared with conventional copper mining, and also a low environmental burden, since no shovels, trucks, or other heavy machinery are used to extract copper". Expects construction to take 18 months, and then production will start.

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