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TRADING UPDATES: TClarke And Epwin Expect Double Digit Revenue Fall

Thu, 28th Jan 2021 12:11

(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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TClarke PLC - building services firm - For 2020, expects underlying earnings before interest and tax at GBP6 million, and revenue to be around GBP232 million, following encouraging trading in the second half. For 2019, revenue was GBP334.6 million, meaning 2020 figure reflects a 31% drop. Looking ahead, TClarke notes encouraging level of new projects in order book, renewing confidence for future performance.

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Epwin Group PLC - Solihull, England-based building products manufacturer - For 2020, revenue is expected to be around GBP240 million, down 15% from GBP282.1 million in 2019, while adjusted pretax profit is set to be in line with market expectations. Expects to recommend final dividend for 2020. Trading in 2021 to date has started "briskly" with no significant effects from Brexit or the third UK national lockdown. Also announced the acquisition of plastic building products distributor SBS Cumbria Ltd for GBP3.8 million on cash and debt free basis.

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Resolute Mining Ltd - operator of Syama gold mine, Mali - For three months ended December 31, produces 89,888 ounces of gold, down 15% from 105,293 ounces the same period year before, however gold sales increased by 1.0% to 91,607 ounces from 90,731 ounces, and average realised price rose to USD1,719 per ounce from USD1,421.

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Hansard Global PLC - financial services business operating out of the Isle of Man - New business for the second quarter ended December was GBP42.1 million in Present value of New Business Premiums, down 5.0% from GBP44.3 million the same quarter the prior year. New business for the six month period is GBP76.3 million, down 4.7% from GBP80.1 million the year before. As at December 31, assets under administration is GBP1.17 billion, up 6.1% from GBP1.10 billion at the end of September.

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PCI-PAL PLC - secure payment solutions provider - For the six months ended December 31, revenue grows 56% to GBP3.2 million from GBP2.0 million the prior year, as total annual contract value rises 59% year-on-year to GBP8.3 million from GBP5.2 million. During the period, PCI-PAL signed 93 customer contracts, compared to 51 the year before, with a recurring annual contract value of GBP1.7 million, 40% higher from GBP1.2 million the prior year.

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Belvoir Group PLC - Lincolnshire, England-based property franchise group - For 2020, revenue up 12% at GBP21.6 million from GBP19.3 million the year before, giving confidence that pretax profit for the year will be ahead of management expectations. In addition to 2.0 pence per share catch-up dividend paid for suspended 2019 final dividend, Belvoir will pay a further catch-up dividend of 1.3p, bringing total reinstated 2019 dividend to 3.3p per share.

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Dillistone Group PLC - recruitment software supplier - For 2020, expects pretax loss to be in-line with, of narrowed from GBP1.2 million reported in 2019, due to extensive restructuring done in 2019 leading to a more efficient operating structure, despite pandemic disruption affecting 2020's revenue. In addition, Dillistone appoints Steven Hammond as chief engineering officer with immediate effect, and has launched Talentis TalentGraph, which is for tracking information on executives as well as the organisations they work for.

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Parity Group PLC - London-based recruitment and professional services firm - For 2020, expects adjusted pretax profit to be in line with 2019's figure of GBP115,000, following profitable trading in the second half of 2020 despite the pandemic. "Recent new business performance and the benefits of a lower cost base as a result of the successful transformation programme, should allow us to grow both net revenue and profit before tax in the coming year, despite the ongoing UK lockdown. We continue to benefit from a stable customer base, which remains weighted towards the public sector," says Non-Executive Chair John Conoley.

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Biome Technologies PLC - bioplastics and radio frequency technology - For 2020, revenue to be in line with market expectations at GBP5.7 million, but down 17% from GBP6.9 million the year before. In addition, expects to post loss before interest, tax, depreciation and amortisation for year. "Whilst the longer-term outlook for the Stanelco RF Technologies division is slightly more encouraging than in 2020, the board expects that headwinds will continue in the short term," the group stated.

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Fonix Mobile PLC - UK-focused mobile payments and messaging company - For the six months ended December, revenue and profit continued to grow since admission to trading on AIM in mid-October. For the period, gross profit to rise by 21% to GBP5.8 million. Expects to pay maiden interim dividend in March.

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Empresaria Group PLC - West Sussex-based staffing firm - For 2020, adjusted pretax profit expected to be above top end of market guidance, as net fee income reaches 2020, down 28% from GBP74.5 million the year before, as the pandemic hit the company's second and third quarters the hardest. "The group experienced positive momentum through the second half of 2020, particularly through the fourth quarter, delivering profits ahead of the guidance we issued at the start of December. We have made good progress, although we are cautious on the immediate outlook given the increase in national lockdowns and local restrictions across our markets at the start of 2021," said Chief Executive Officer Rhona Driggs.

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Gresham House PLC - specialist alternative asset manager - As at December 31, assets under management at GBP3.9 billion, up 42% from GBP2.8 billion the same date the year before, driven by strong performance from the Real Assets and Strategic Equity divisions. Expects adjusted operating profit to be ahead of market expectations.

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Accesso Technology Group PLC - technology services provide to leisure and entertainment markets - For 2020, expects revenue to be at least USD55.0 million, in line with management expectations but down % from USD117.2 million the year before. "Despite longer-term optimism resulting from the overall progress of vaccination programmes now underway, the group is of the view that trading will likely continue to be impacted by lower venue attendance over the first half of 2021," the group stated.

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RBG Holdings PLC - London-based law firm - Expects revenue and earnings before interest, tax, depreciation and amortisation for 2020 to beat market expectations. Intends to pay dividend of 3.0 pence per share for the year. Looking ahead, expects an increase in M&A activity in 2021, driven by economic conditions and possible changes to the Capital Gains Tax regime.

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M&C Saatchi PLC - London-based advertising agency - Trading in fourth quarter of 2020 was ahead of expectations. Expects results for the year as a whole to be ahead of expectation set out in interim results, which guided for headline pretax profit to be at least GBP4 million. From 2020 to 2025, has set targets for operating profit to rise by at least 25% at a compound annual growth rate, and net revenue growth of 6% CAGR.

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Haydale Graphene Industries PLC - Ammanford, Wales-based nanomaterial producer - For six months ended December 31, performance has remained resilient despite pandemic causing a general industrial slowdown and reduced demand in the aerospace sector, leading to lower sales of Silicon Carbide whiskers and ceramics. For the current financial year, expected narrowed adjusted operating loss from GBP2.5 million the year before. Signs two-year sales agreement with Qinhuangdao ENO High-Tech Material Development Co Ltd, under which ENO will buy a minimum of USD300,000 of product from Haydale in year one, increasing to USD500,000 in the second year.

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Tribal Group PLC - Bristol-based education services firm - For 2020, annual recurring revenue grows 12% to GBP47.5 million from GBP42.4 million the year before. Expects adjusted earnings before interest, tax, depreciation and amortisation at GBP14.9 million, down from GBP15.4 million, on revenue of GBP73.0 million, down from GBP78.2 million. "Our Tribal:Cloud and Tribal Edge products provide significant opportunities with our existing and new customers as they focus increasingly on standardisation and efficiency. We expect to see further sales across 2021. The growth of our annual recurring revenue provides us with a strong platform as we enter 2021 and the board is confident in the outlook for the year ahead," said Chief Executive Officer Mark Pickett.

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Victoria Oil & Gas PLC - natural gas producing utility operating in Cameroon - For the fourth quarter of 2020, average daily gross gas sales rate reached 5.1 million standard cubic feet per day, up from 4.7 million cubic feet, with 3,109 barrels of condensate sold to industrial customers, up from 2,438 barrels.

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Tlou Energy Ltd - Botswana and southern Africa focused exploration firm - For the three months ended December 31, continue to seek funding for development of Lesedi power project. Discussions with Botswana-based institutions are ongoing, and company expects approval to be granted towards the later end of the first quarter of 2021. Gas continues to flow at production well Lesedi 4P, with the rate steadily increasing over time.

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Residential Secure Income PLC - Investor in affordable shared ownership, retirement and local authority housing - As at December 31, net asset value per share at 105.0 pence, in line with September 30, on total portfolio value of GBP304.6 million, up 0.6% on a like-foe-like fair value basis. For the year ending September 30, 2021, earnings per share on track to reach 4.0 pence, up from 1.9p the year before. Continues to target annual dividend of 5.0p per share.

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Woodbois Ltd - African timber producer - For January to date, average daily sawn timber output reached 60 cubed metres, more than doubled from the same period in 2020. Average daily veneer production at 18cubed metres, up 16% from the prior year.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Tlou Energy income rises in first half; loss narrows

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - In the first half of the year ending June 30, interest income rises to AUD11,383, or GBP5,894 from AUD6,351 the year before. Pretax loss narrows to AUD1.8 million from AUD2.2 million a year ago. Managing Director Tony Gilby says: "The company has made excellent progress over recent months, and we are getting very close to first revenue. Having direct access to the power grid opens up our gas field to a huge market. It has taken hard work and significant investment over many years to get to this point, and we look forward to delivering power and earning first revenue for the company as soon as possible."

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IN BRIEF: Tlou Energy makes progress on Lesedi power generation site

Tlou Energy Ltd on Friday - Botswana and Southern Africa-focused energy company - Says the Lesedi 4P and 6P production wells in Lesedi, South Africa, are continuing to flow gas. Says gas flow rates will be measured once the wells stabilise and stop surging. "Tlou is confident that with the in-house knowledge gained from recent drilling efforts, extracting more and more gas out of the coal reservoir will become progressively simpler and more cost effective due to economies of scale", it says. Adds that The 66 kilovolt electricity transmission line connecting its Lesedi power generation site to the power grid has been constructed and the line has been connected to the Serowe substation. Minor finishing works and the addition of switchgear at the Serowe substation will be done before the line is energised. Says this will happen as soon as the substation at Lesedi is complete, which is expected halfway through 2024. "The transmission line is a vital element of the Lesedi project. With the completion of the transmission line, the Lesedi project is no longer isolated from Botswana's electricity market and is now connected to the broader Southern African Power Pool", Tlou says.

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IN BRIEF: Tlou Energy pushes AUD13.3 million fundraise to January 31

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Announces extension of closing date for entitlement offer to January 31 from January 12. In December, Tlou announced its intention to raise AUD13.3 million, around GBP7.0 million, through the offer of four new ordinary shares for every eleven ordinary shares held by ASX and BSE shareholders at a price of AUD0.035 each. Tlou says that the funds would be used to develop its Lesedi power project in Botswana and provide the company with working capital. Adds that the extension will allow "extra time for eligible shareholders to take up their entitlements".

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IN BRIEF: Tlou Energy in entitlement offer to raise AUD13.3 million

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Announces entitlement offer for four new ordinary shares for every eleven ordinary shares held, at a price of AUD0.035 each to raise AUD13.3 million. Explains the offer is open to ASX and BSE shareholders only. Says certain directors are participating in the entitlement offer with commitments in place for a minimum of AUD613,308. Funds raised and existing capital will go towards development of Tlou's Lesedi power project and working capital.

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