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TRADING UPDATES: Northcoders to expand; Pennant expects revenue growth

Tue, 31st Aug 2021 11:39

(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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Northcoders Group PLC - provider of training programmes for software coding - Delivers strong performance for the first eight months of its financial year ending August 31, with contracted revenue making up 90% of the annual revenue target. Looking ahead, aims to launch new technology products in the first quarter of 2022, which is expected to diversify apprenticeship revenue streams from its core coding and software focused programmes.

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Pennant International Group PLC - London-based provider of aerospace training software - For the first half of 2021, expects to report revenue at GBP7.4 million, up 17% from GBP6.3 million the year before, leading to a narrowed loss before interest, tax and amortisation of GBP1.0 million, compared to GBP2.5 million. Looking ahead, expects a significantly improved performance in the second half of 2021, leading to an Ebita profit for the period. As a result, company expects annual performance to meet market expectations.

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RUA Life Sciences PLC - Glasgow-based medical devices using polymer technology and formerly known as AorTech International - Reports good progress across all business areas despite supply chain disruption de to Brexit related-customs issues and staff shortages at suppliers due to Covid. In RUA Medical, order intake for major customer in US has returned to pre-Covid levels, while there is confidence in securing a manufacturing contract for medical textile components. Will purchase an industrial unit in Irvine, as the current unit will be exhausted upon the ramp up of graft production.

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Home REIT PLC - London-based real estate investment trust - As at July 31, net asset value per share is 104.6 pence, up 6.8% from the figure at its IPO on October 12, 2020, with property portfolio valued at GBP328 million. From June 3 to date, has acquired ten portfolios comprising 108 properties across England for GBP33.2 million in aggregate. Also announces intent to raise GBP262 million through placing, intermediaries offer and subscription for new shares worth 109 pence each, which will go towards further acquisitions.

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Lamprell PLC - Sharjah, United Arab Emirates-based engineer for the energy industry - Remains in discussions with three regional banks on USD90 million of Export Credit Agency-backed facilities for the completion of two IMI rigs. The facilities are expected to be made up of two equal tranches and be agreed on in the third and fourth quarter of 2021 respectively. Company itself also expects to raise at least USD30 million through equity in the fourth quarter.

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Supply@Me Capital PLC - London-based inventory monetisation platform - For the first half of 2021, Investment Advisory revenue up 28% year-on-year at GBP272,000 from GBP212,000 the year before, while the Captive: Inventory Monetisation platform generated revenue of GBP271,000 compared to none the prior year.

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Jersey Oil & Gas PLC - oil & gas company ‎focused on UK - Continues progress on Greater Buchan Area development project, with pre-Front-End Engineering & Design work programme completed, and the FEED entry, along with the previously advised Final Investment Decision and first oil dates to be rephased one near-term studies on electrification have progressed far enough. The farmout process is ongoing.

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Schroder BSC Social Impact Trust PLC - investment firm focused on positive social impact as well as long-term capital growth and income - Reports process of completeing a co-investment secured loan, which when signed will mark the full commitment of net proceeds from the company's IPO. In light of this, Schroder BSC is consulting with investors for a potential equity raise.

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Union Jack Oil PLC - Bath, England-based production, development, exploration and investment firm - and Reabold Resources PLC - London-based investor in natural resources - Report progress on the ongoing testing of the West Newton B-1Z well, located in the Southern Permian Basin, onshore UK. Union Jack Oil holds about 17% economic interest in PEDL183, while Reabold has about 17% direct stake and holds 59% shareholding in Rathlin, which, in turn, has a about 67% interest in PEDL183. The companies say testing of the B-1Z well to date has led to the recovery of gas and liquid hydrocarbons to surface. Despite the positive results the Kirkham Abbey reservoir has appeared sensitive to the drilling and completion fluids, due to signs of damage in near wellbore areas. As a result, B-1Z well will be suspended, and testing to take pplace at the A-2 well.

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Cornish Metals Inc - miner with assets in Cornwall - Drilling in Unitted Downs copper-tin project in Cornwall, UK has intersected high grade copper-tin mineralisation through five of the six drill holes, traced over a 200 metre-strike length and remains open along the strike. Results reported reflects a totla of 3,042 metres of drilling, with a further 5,000 to 6,000 metres planned.

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Castillo Copper Ltd - metals explorer in Australia and Zambia - Through the completion of eight induced polatisation survery lines at the Luanshya project in Zambia's copper-belt, multiple high chargeability targets have been identified within three lines which indicate the presence of sulphides. As a result, Castillo expects to start work on a drilling campaign in the fourth quarter of 2021, while the IP surveys will finish up at Luanshya then progress to the Mkushi project. In addition second drilling campaign at the Big One deposit has concluded.

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Thor Mining PLC - exploration and development company in Australia and the US - Reports significant copper and gold intercepts from the recently completed initial diamond drilling programms at the Alford East copper-gold project in the US. Results include the drill hole 21AED005, which reported 72.7 metres at 1.0% copper and 0.19 grams per tonne of gold from 6.3 metres. "The newly discovered broad zone of high copper and gold grades from near surface in 21AED005, combined with the significant intercepts in 21AED001 and 21AED002 takes this oxide mineralised system to a new level, reporting values well above the Mineral Resource Estimate grades," said Managing Director Nicole Warland.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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