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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Harbour Energy PLC - North Sea-focused oil and gas company - Returns to pretax profit of USD120.2 million in six month ended June 30 from USD224.3 million loss year prior. Revenue jumps to USD1.4 billion from USD1.2 billion. Other income increases to USD119.3 million from USD13.6 million. Says it will update its dividend policy early December. Reiterates production guidance of 170,000 to 180,000 barrels of oil equivalent per day for financial 2021. Expects higher production in second half of financial year. "The extended maintenance programmes which impacted our production have completed, drilling activity has returned to pre-Covid-19 levels and the merger integration is progressing well, all underpinning strong future cash flow generation," company adds.
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Fonix Mobile PLC - London-based mobile payments and messaging provider - Pretax profit rises to GBP7.4 million in 12 months to June 30 from GBP7.2 million a year earlier. Revenue increases to GBP47.7 million from GBP40.1 million. Cost of sale rise to GBP36.3 million from GBP30.1 million. Recommends final dividend of 3.53p per share. Sees positive start to financial 2022, with trading in line with expectations. Declared maiden interim dividend of 1.7p in February. "With a strong entry run-rate, along with new client wins, a key new technology partnership and new market connectivity, the Board continues to be confident in the business's growth potential and increasing profitability," company says.
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Allergy Therapeutics PLC - Sussex-based biotechnology firm focused on allergy vaccines - Sees pretax profit for financial year to June 30 sink to GBP3.7 million from GBP8.1 million last year. Revenue rises to GBP84.3 million from GBP78.2 million. Administrative expenses rise to GBP33.6 million from GBP25.5 million, while cost of sales increase to GBP22.1 million from GBP20.2 million. "The coming year will see further investment in the group's infrastructure as the business matures as a well-established and growing European business. The group also continues to invest in its pipeline of next generation allergy immunotherapeutics. Upcoming results from the Grass MATA MPL exploratory field study, the pre-investigational new drug application meeting with the US Food & Drug Administration for VLP Peanut, followed by the commencement of the Phase 1 trial in the US are all promising and exciting developments and set the course for the future of the business," company says.
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Arecor Therapeutics PLC - Cambridge, England-based biotechnology company - Reports widened pretax loss of GBP3.5 million in six months to end June from GBP1.3 million last year. Revenue sinks to GBP460,021 from GBP817,043. Company says: "We have made tremendous progress across the business during the first six months of the year with key highlights including our successful IPO on AIM and, earlier this week, positive results from the Phase I clinical trial for our ultra-concentrated ultra-rapid acting insulin, AT278, the second product in our diabetes franchise...With the GBP20 million raised, we are now well-placed to rapidly advance our proprietary pipeline with further clinical trials for our lead products planned in the coming year."
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Distribution Finance Capital Holdings PLC - Manchester-based bank providing personal savings products - Pretax loss narrows to GBP2.3 million in six months to June 30 from GBP7.2 million. Net income rises to GBP5.3 million from GBP2.0 million. Loan book rises to GBP166.8 million from GBP165.9 million. "Despite the widely publicised impact of the pandemic on manufacturers and supply chains, the current pipeline of product scheduled to be delivered to dealers over the coming months underpins the board's expectation that the group will achieve run-rate profitability on a monthly basis during the fourth quarter of 2021," company says. Continues to evaluate both organic and inorganic opportunities, as well as partnerships.
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Venture Life Group PLC - Bracknell, England-based maker and distributor of self-care products - Swings to pretax loss in six months to June 30 of GBP40,000 from GBP2.1 million profit year-on-year. Revenue falls to GBP13.9 million from GBP16.9 million. Does not pay dividends. "The first half of 2021 was a challenging trading environment for the group, as another extended Covid lockdown affected customers and suppliers in many countries. Despite this, the group saw growth in its core business revenues...with the current order book ahead of the same time last year on an actual and like for like basis, and two immediately earnings acquisitions (one post period end). These acquisitions are expected to add materially to the revenues and profitability for 2021 and the future, as well as providing new therapy areas and products for the group to expand and develop further," company says. Buys diabetes management company BBI Healthcare Ltd for around GBP36 million in June.
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Cornish Metals Inc - miner with assets in Cornwall - Posts widened loss for six months to July 31 of CAD1.1 million, about GBP635,000, from CAD789,476 a year prior. Expenses rise to CAD455,393 from CAD344,336. "The past six months has been a busy period for the company after the successful listing on AIM [in February]. The company's capital structure has been simplified through the conversion of the Osisko loan note into royalties and the restructuring of the deferred consideration payable in respect of the acquisition of the Cornwall mineral properties into fixed payments linked to project related milestones," company says. "We are assessing various financing options to progress South Crofty which remains a key strategic asset for the company. South Crofty could potentially play a pivotal role in securing a domestic and sustainable source of battery metals as the UK transitions to a low carbon economy," company adds.
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Attraqt Group PLC - London-based software for online shopping - Loss before tax in six months to June 30 widens to GBP1.8 million from GBP1.3 million. Revenue rises to GBP11.1 million from GBP10.2 million. Cost of sales increases to GBP3.0 million from GBP2.7 million. "We are continuing to implement our strategy to address the mid-market growth opportunity with deep integrations to ecommerce platforms. Revenue is trading in line with expectations for the full year on a constant currency basis and we are confident we have the right strategy and the right technology to drive the business forward," company says. Adds that it will focus on paying dividends in future.
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Ormonde Mining PLC - gold explorer in Spain - Swings to pretax loss of EUR630,000 in six months ended June 30 from EUR1.2 million profit a year ago. Administrative expenses increase to EUR617,000 from EUR436,000. Company is not revenue generating. Says investigation permits for Salamanca and Zamora gold projects are in the process of being renewed. Plans to sell La Zarza asset.
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Ebiquity PLC - London-based marketing and media consultancy - Pretax loss in six months to end June narrows to GBP1.1 million from GBP1.7 million last year. Revenue increases to GBP32.0 million from GBP26.8 million. Says progress expected to continue in the second half of the year, although macro-environment remains uncertain. Does not declare interim dividend, unchanged from last year. Adds that digital media unit is continuing to grow its client base and revenue. Expects full year underlying operating profit to be slightly above previous expectations.
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Velocys PLC - Oxford-based fuels technology company - Pretax loss in six months to June 30 narrows to GBP2.2 million from GBP2.7 million last year. Revenue increases to GBP8.2 million from GBP180,000. Cost of sales rises to GBP4.9 million from GBP106,000, while operating expenses increase to GBP5.4 million from GBP2.8 million. "The final stage of preparing the US Bayou Fuels project for its FEED fund raise is underway to take advantage of increased investor appetite for advanced fuel decarbonisation technologies in the US alongside achieving the best possible technical readiness to commence FEED. Velocys is targeting completion of fuel offtake agreements for the project ahead of completion of substantial third-party FEED project funding which is currently expected in the first half of 2022."
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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