(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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Young & Co's Brewery PLC - London-based pub operator - Sinks to pretax loss of GBP45.2 million in year to March 29 compared to GBP29.1 million profit the year before. Revenue plunges to GBP90.6 million from GBP311.6 million. "The results for the year and the actions taken to maintain the group's historically strong financial position reflect the significant impact of Covid-19 restrictions that were in place for the majority of the year and the closure of our pubs and hotels for almost nine months," company explains. Does not declare final dividend, but plans to return to shareholder payouts "as soon as is appropriate". Notes outdoor trading in 144 pubs that were able to open on April 12 has been "encouraging", achieving 85% of normal trade over a 5-week period.
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Wincanton PLC - Wiltshire-based logistics firm - Pretax profit in year to March 31 up 11% to GBP48.4 million from GBP43.8 million the year before. Revenue grows 1.7% year-on-year to GBP1.22 billion from GBP1.20 billion. Annual dividend up sharply to 10.35 pence from 3.90 the year before, after declaring 7.5p final dividend compared to zero. CEO James Wroath says: "Looking ahead, we remain confident that we are well-placed to make further progress, though we are mindful of the competitive environment and short term uncertainties as the country moves out of lockdown. We have in place the right strategy and the right people and believe our wide range of supply chain services and capabilities will continue to enable growth across a broad set of sectors."
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N Brown Group PLC - Manchester-based online clothing retailer - Pretax profit in year to February 27 down sharply to GBP9.9 million from GBP35.7 million the year before. Revenue falls 13% year-on-year to GBP728.8 million from GBP837.5 million, with product revenue down 14%. CEO Steve Johnson says: "Our capital raise has enabled us to strengthen our balance sheet and allows us to accelerate our investment into strategic initiatives, particularly our digital platform and brand websites. Whilst wider consumer dynamics remain uncertain as we emerge from lockdown, we have significantly transformed the shape of the business from where it was at the start of the pandemic." Guides for financial 2022 product revenue growth between 3% and 7%.
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Anglo Asian Mining PLC - gold, copper and silver producer operating in Azerbaijan - Pretax profit in 2020 grows to USD35.7 million from USD30.1 million in 2019. Revenue grows to USD102.1 million from USD92.1 million. Annual dividend up to USD0.095 from USD0.08. Gold production down to 56,864 ounces from 70,098 ounces, with sales down to 48,650 ounces from 53,992 ounces. But gold price rises to USD1,777 per ounce from USD1,410 ounces. For 2021, guides for production of 64,000 to 72,000 gold equivalent ounces compared to 67,249 in 2020. Chair Khosrow Zamani says: "I am very pleased to report that the company demonstrated its resilience by ending this exceptionally difficult year financially stronger and better positioned for growth than at the beginning."
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Amigo Holdings PLC - Bournemouth-based guarantor loans provider - Applies to lift temporary share suspension, which company asked for on Tuesday. "The company is not aware of any inside information which has not been updated to the market and the company can confirm that no decision has been made in relation to the Court Sanction hearing held yesterday to consider the company's proposed Scheme of Arrangement. Furthermore, the company is not able to confirm when the decision on the Scheme of Arrangement will be delivered by the court or when and how it will be announced," Amigo adds.
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Securities Trust of Scotland PLC - investment trust managed by Troy Asset Management that aims for income and capital growth from global equities - March 31 net asset value per share 202.68 pence versus 162.72p at same point year before. NAV total return 28.5%, behind Lipper Global-Global Equity Income return of 29.9%. Chair John Evans says: "Following significant changes to both the management and portfolio of Securities Trust in the financial year your board anticipates a more settled background in 2021. Our new managers have constructed a high quality portfolio reflecting Troy's philosophy of delivering an above average long term return with below average levels of volatility. We look forward to enjoying the returns and dividend growth that the successful implementation of the strategy will deliver." Declares annual dividend of 5.70p.
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Nexus Infrastructure PLC - Braintree, Essex-based gas, electricity, water, fibre networks and electrical vehicle charging infrastructure - Pretax profit in six months to March 31 halves to GBP1.3 million from GBP3.4 million a year before. Interim revenue plunges year-on-year to GBP63.7 million from GBP84.2 million. Reinstates dividend, paying interim dividend of 0.6 pence. March 31 order book GBP301.6 million compared to GBP299.5 million at same point year before. CEO Mike Morris says: "The fundamental growth drivers are positive for Nexus, underpinned by electric vehicle charging and smart grid solutions, which are at the heart of the energy transition. This is reinforced by government support for new housing and the 10 Point Plan for a Green Industrial Revolution. Trading in TriConnex and eSmart Networks is very strong with continued growth and innovation in both divisions. In Tamdown improvement is ongoing, and we expect the division to rebuild to proven levels of growth over the medium term."
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ReNeuron Group PLC - Bridgend, Wales-headquartered cell-based therapeutics - Appoints Stefano Pluchino as chief scientific officer with immediate effect. CEO Olav Hellebo says: "We are delighted to welcome Pluchino to ReNeuron. His extensive experience of cell and gene therapy as well as deep knowledge in the exosomes field will be invaluable to us in what is an incredibly exciting and progressive time. Pluchino's work is widely recognised, and we look forward to working alongside him, as ReNeuron continues to grow and develop its pipeline."
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Tungsten Corp PLC - digital financial management products and software solutions provider - Makes Interim Chief Financial Officer Ian Kelly the permanent finance chief. Chair Tony Bromovsky says: "The board of Tungsten are pleased to welcome Ian to the role of chief financial officer on a permanent basis. Ian has made a very positive contribution since joining Tungsten and stepping up to the Interim role. We look forward to his continued leadership over the coming years."
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Alien Metals Ltd - iron ore and silver projects in Australia and Mexico - Pretax loss in 2020 widens to USD1.2 million from USD1.0 million in 2019. Administrative expenses grows to USD1.2 million from USD1.0 million. Does not generate revenue in 2020 or 2019. CEO Bill Good says: "2020 marked a year of growth as the company, headed by a high-quality geological team, focused on its strategy to advance its assets up the value curve; with new prospects in Western Australia added to our diversified portfolio, they lay the groundwork for a busy and productive year." He adds: "We look forward to sharing further results from our exploration work at our various sites following the completion of our 2 placings in Q3 and Q4 2020 that were extremely successful and have provided the company with an excellent funding for advancing all the exploration projects as well as looking at further acquisitions in 2021." In addition, Alien strikes deal to raise stake in Hamersley iron ore project to 90% from 51%. Alien pays GBP60,000 in cash plus 200.0 million shares at 1.1p each and 50.0 million warrants exercisable at 1.65p each.
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Sound Energy PLC - Moroccan-focused upstream gas company - Pretax loss in 2020 widens to GBP18.8 million from GBP16.4 million in 2019. Records impairment of development assets and exploration costs of GBP9.8 million from GBP6.6 million in 2019. Does not generate revenue in 2020 or 2019. Executive Chair Graham Lyon says: "2020 was a year of transition and stabilisation for the company. Transition to a development led strategy, monetising our discovered resource and stabilisation in rationalising the company's cost base. Our gas development and monetisation strategy is advancing towards realising our objective of generating cash flow from Tendrara's significant 377bcf discovered resource. As part of the Phase 1 micro LNG development, we are delighted to have been able to attract a market leading partner like Afriquia Gaz in Morocco and Italfluid as our facility provider. Concluding arrangements with each will enable the Micro LNG project to come into being."
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By Paul McGowan; paulmcgowan@alliancenews.com;
Copyright 2021 Alliance News Limited. All Rights Reserved.
Sound Energy (SOU)
Sts Global Inc (STS)
Nexus Infrastr. (NEXS)
Anglo Asian (AAZ)
Brown Group (BWNG)
Reneuron (RENE)
Young & Co's Brewery (YNGA)
Amigo (AMGO)
Alien Metals (UFO)