We are delighted to welcome Longboat Energy CEO Helge Hammer and BD Director Nick Ingrassia #LBE to Tuesday’s live webinar. They join Atlantic Lithium CEO Vincent Mascolo #ALL #IRR, Cora Gold CEO Bert Monro #CORA and Valirx CEO Suzanne Dilly #VAL. Please register here

Less Ads, More Data, More Tools Register for FREE

TRADING UPDATES: Cake Box, Argentex see record first half performance

Mon, 8th Nov 2021 14:54

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:



Argentex Group PLC - London-based foreign exchange advisory and execution services provider - Pretax profit in six months to September 30 grows 24% to GBP4.2 million from GBP3.4 million year before. First half revenue rises 33% to GBP15.7 million from GBP11.8 million. Gross foreign exchange turnover up 67% year on year to GBP8.3 billion from GBP5.0 billion. Declares interim dividend of 0.75 pence versus zero year before. Chief Executive Harry Adams says: "We're delighted to be reporting a record set of first half results with strong revenue and profit growth driven by a continued surge in client trading activity and increasing demand for our services. As confidence returns in the aftermath of the pandemic, we're delivering across all of our key performance metrics, enabled by our robust model and tireless approach to risk management. Our investment in high-quality people and evolving technology is integral to our market-leading service as evidenced by our growing client base in all trading environments. We remain confident in our future and long-term strategy to deliver on our ambitious growth plans, and we are well placed to capitalise on the significant opportunities that lie ahead."



CyanConnode Holdings PLC - Cambridge, England-based wireless communication technology provider - Pretax loss in six months to September 30 narrows to GBP1.3 million from GBP1.7 million year before. Revenue surges to GBP4.1 million from GBP1.5 million. Cash received from customers jumps to GBP3.8 million from GBP1.6 million. Executive Chair John Cronin says: "I am pleased with the continued successful deployment of projects, which has resulted in a significant increase of revenue for the first half of the financial year ending March 31, 2022." Adds: "As with many companies, there have been challenges which impacted our business during the period. The year started with further Covid-19 lockdowns and ongoing component shortages, which resulted in higher costs and longer lead times. Nevertheless, we have been able to continue manufacturing and shipping our products to meet customer requirements on time."



DX Group PLC - Slough, England-based parcel freight, secure courier and logistics - Improves to pretax profit in 53 weeks to July 3 of GBP10.6 million versus GBP1.3 million loss in 52 weeks to June 27, 2020. Revenue grows 16% to GBP382.1 million from GBP329.3 million. Chief Executive Lloyd Dunn says: "Results are significantly ahead of our original expectations, and we have achieved a key milestone of full year statutory pre-tax profits, in line with our turnaround plans set in 2018. DX Freight fuelled this excellent performance while DX Express was significantly impacted by coronavirus restrictions, which affected our Legal and High-street activities in particular, although the division's Parcels operations grew significantly." Remains "confident" despite driver shortages and global supply chain disruptions.



Cake Box Holdings PLC - Wembley, London-based fresh cream and egg-free cake retailer - Pretax profit in six months to September 30 more than doubles to GBP3.7 million from GBP1.7 million year before. Revenue in first half doubles to GBP16.5 million from GBP8.6 million. Notes in four months to end of September, after store reopening, increased 50% year on year to GBP11.2 million. Ends first half with 174 franchise stores, up from 139 at same point year before. Declares interim dividend of 2.50 pence, up from 1.85p year before. Chief Executive Sukh Chamdal says: "I'm delighted to report another strong performance over the last six months, demonstrating the continued appeal of Cake Box's unique offering. Our fantastic franchisees, supported by their dedicated team members, have helped us deliver record first half store openings, revenues, profits and dividends, while making further significant strategic progress that gives us momentum into the second half." Says current trading remains strong with franchisee like for like sales at 14% in October and online sales up 47%.



Angling Direct PLC - Norwich, Norfolk-based fishing tackle and equipment retailer - Currently managing a cyber security incident after detecting unauthorised activity on its network late on Friday. "This unauthorised activity shut down the company's websites and these remain inactive," company says. Adds: "Some of the company's social media accounts have also been compromised. The board has appointed external cyber security specialists whose investigations are underway to establish what happened. Work continues round the clock to bring the websites back online while our 39 retail stores across the UK have remained open and continue to trade." Notifies relevant regulators and law enforcement agencies, including the Information Commissioner's Office in the UK. Does not expect "detrimental impact" on underlying trading.



Inland Homes PLC - Beaconsfield, England-based housebuilder - Sells final phase of its Carters Quay development in Poole to Bournemouth, Christchurch & Poole Council. The last phase of the development will provide 161 new homes and 8,000 square feet of commercial space, company notes. Receives a deposit, together with an advanced payment of GBP8.3 million. The contract is for a total consideration of GBP43.5 million over the next 36 months or so, with monthly stage payments being made to company as the project progresses. Inland Partnerships will construct the new homes on BCP's behalf and transfer the land and buildings and recognise the income from this phase when the project is complete, which should be by end of 2024.



Yu Group PLC - supplier of gas, electricity and water to the UK business market - Says it has been selected by UK's Ofgem as supplier of last resort for collapsed energy business Ampoweruk. Company says: "Ampower supplied 8,158 predominantly electricity business sites, increasing the group's meter portfolio by 38%. Group revenues are forecasted to immediately increase by over GBP7.5 million per month. Earnings will be enhanced immediately." Confident in its ability to retain a significant proportion of the Ampower business customer book, leading to "substantial increase" in forward contracted revenue.



Ascent Resources PLC - onshore Caribbean, Hispanic American and European focused energy and natural resources company - Signs binding damages-based agreement with specialist arbitration and litigation legal firm Enyo Law LLP to pursue proceedings against Slovenia. "The firm - which will also be advancing the disbursements which are expected to be incurred in the pursuit of the claim - will only be paid out of the proceeds of the arbitration in the event of a successful damages award or execution of a binding settlement agreement," company says. Executive Chair James Parsons adds: "This agreement represents an important milestone for Ascent and its shareholders as it seeks to pursue its claim against Slovenia. Ascent has secured for itself a non-equity dilutive and, subject to completion, a fully funded non-recourse position through this damages-based arrangement which gives its shareholders no financial risk and potentially highly material reward."



Kodal Minerals PLC- southern Mali and Ivory Coast-focused miner - Says it has been granted a mining licence for its flagship Bougouni lithium project in Mali. The project is now fully permitted for development with the previous approval of the Environmental & Social Impact Assessment in November 2019 it adds. Chief Executive Bernard Aylward says: "The granting of the mining licence for Bougouni has come at a great time for Kodal with the increasing global focus on battery metals and the recognition of potential supply deficits highlighting the value of our fully permitted Bougouni lithium project."



Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Completes 5,000 metres from results for its Kalahari Copper Belt project in Botswana. Says drilling at two of the licenses that Galileo did not sell to Sandfire Resources Ltd did not intersect copper mineralisation. One of the holes returned disseminated pyrite which might represent a system lateral to a copper occurrence. Drilling on the Sandfire agreement licences intersected visible copper mineralisation at 242.7 metres in core hole BDDD004 on PL366/2018 in the form of vein-hosted chalcopyrite.



Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Says Torrente Cigno concession in Italy sees new record in terms of profitability. Produces total of about 920 megawatt hours. "Electricity prices during the month of October 2021 averaged approximately EUR214 per MWh, resulting in net revenues of approximately EUR181,500 per month. The current net production costs remain fixed at approximately EUR35,000 per month," company says. Chief Financial Officer Luca Benedetto adds: "We continue to be extremely pleased with the increasing revenue generation and associated profitability of our Italian operations, which have now acquired material significance."



By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Related Shares

More News

TRADING UPDATES: SRT Marine Systems and ULS Technology losses widen

TRADING UPDATES: SRT Marine Systems and ULS Technology losses widen

2 Dec 21 22:01

Inland Homes cuts Cheshunt Lakeside funding costs through refinancing

(Sharecast News) - Housebuilder and brownfield developer Inland Homes announced the refinancing of facilities at Cheshunt Lakeside on Thursday, through its joint venture Cheshunt Lakeside Developments (CLDL).

2 Dec 21 11:59

TRADING UPDATES: Halfords and Springfield to raise funds for new deals

TRADING UPDATES: Halfords and Springfield to raise funds for new deals

1 Dec 21 22:04

TRADING UPDATES: Seplat Energy eyes Exxon asset; Zenith inks contract

TRADING UPDATES: Seplat Energy eyes Exxon asset; Zenith inks contract

29 Nov 21 21:59

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.