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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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Norcros PLC - Wilmslow, England-based bathroom and kitchen product supplier - Continues to trade "robustly". Expects underlying profit to be at a record level and ahead of expectations in the year ended March 31. Revenue is expected to be in the region of GBP396 million, up 22% from GBP324.2 million the previous year. Says it is in a strong financial position despite supply chain challenges. Agrees a new GBP130 million revolving credit facility for an initial three year and seven month term.
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Porvair PLC - Fareham, England-based filtration, laboratory and environmental technology company - In the four months to March 31, revenue growth was 14%. Growth supported by the timing of the Kbio acquisition in February. Without acquisitions, revenue growth was around 10%. Says it has avoided problems from inflationary pressures thus far. Adds order books remain "healthy" on an underlying basis.
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Sound Energy PLC - London-based energy transition company - Proceeds with phase one mLNG development at the Tendrara production concession. Over the next six months, will complete site access road improvements, wellhead inspection and serving and commence flowline and equipment procurement. Receives non-binding terms sheets for the capital provision of the proposed Tendrara phase two development. Adds its wholly-owned subsidiary, Sound Energy Sustainables Ltd, is in discussions with Moroccan farmers to evaluate the provision of 4.3 megawatt solar powered electricity.
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Totally PLC - healthcare service provider - Expects to report performance ahead of market expectations for the year ended March 31, based on its draft unaudited numbers. Says it recently experienced a busy period.
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Renold PLC - Derby, England-based supplier of industrial chains and power transmission products - Says strong momentum in order intake and turnover continued the second half of the year ending March 31, delivering full-year revenue of GBP195.0 million. This represents a 18% increase on the previous year. Notes sales to Russia and Ukraine during the year were "insignificant" at 0.5% of turnover. Order intake of GBP223.7 million, representing a 32% increase on the previous year. Expects underlying trading profit ahead of expectations.
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HeiQ PLC - Zurich-based textile developer - Expects revenue of USD57.9 million for 2021, representing a 15% increase on the previous year and is ahead of market guidance. Sees strong sales in the final quarter of the year, which it says reflects increasing demand for its products and technologies. Defers the recognition of some revenue related to the milestone achievements of The Lycra Co into 2022, resulting in a deferral of USD1 million in operating profit. Expects operating profit of USD3.4 million at a result. Continues to see strong demand for its products and anticipates 20% revenue growth in 2022.
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Voyager Life PLC - Perth, Scotland-based cannabidiol product supplier - Says company has grown "substantially" from the start of the year, pointing to an increased number of employees and products. In anticipation of supply shortages, rising prices and expansion plans, the company increased its inventory at the end of 2021. Revenue for 16-months to March 31 totals GBP178,000. Expects to see further improvements moving forward.
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RiverFort Global Opportunities PLC - High Wycombe, England-based capital market company - Debt and equity linked portfolio performing well and comprises of over 20 investment positions. Notes "good progress" on the listing of investee Smarttech247, the detection and response company. Chair Philip Haydn-Slater says: "We are very pleased with the progress of our investment portfolio with significant positive developments being achieved at a number of our larger investments."
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APQ Global Ltd - Guernsey-based emerging markets income company - Says its exposure in the first quarter of 2022 has remained largely unchanged from the previous year, explaining the bulk of its liquid market exposure is in "Covid recovery stocks". Book value per share at March 31 USD0.2851, compared to USD0.29 at December 31. At the end of March, company holds majority stake in five businesses.
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By Heather Rydings; heatherrydings@alliancenews.com
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