(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
Camellia PLC - Kent-based agriculture and engineering services firm - Revenue for 2020 broadly steady at GBP291.2 million from GBP291.5 million in 2019, though pretax profit drops to GBP7.8 million from GBP22.3 million. Reports GBP8.2 million net charge resulting from legal and other expenses relating to the settlement of claims concerning its East African operations and largely pandemic-related impairment charges offset in part by gain on sale of Horizon farm property. Mainstains dividend at 144p. "While the UK is returning to normality to the benefit of some of our UK based businesses, we have concerns about further waves of the pandemic across India, Bangladesh and East Africa. We do not believe that normal trading conditions will emerge until 2022, and some businesses will continue to feel the effect of the pandemic for some time thereafter," Chair Malcolm Perkins says.
Microsaic Systems PLC - micro-engineering, miniaturised chip-based mass spectrometry developer - Revenue for 2020 falls to GBP198,258 from GBP872,125, but pretax loss narrows to GBP2.6 million from GBP3.1 million. Total operating expenses fall to GBP2.7 million from GBP3.4 million. Says that while business is still affected by pandemic, first quarter of 2021 starts well with revenue of GBP145,000 versus just GBP52,000 the same period a year ago. "2020 was a difficult year for Microsaic, its employees and shareholders. Progress in the year to date shows us turning a corner, with Q1 revenues significantly above the same period last year, and with decent prospects indicating a sustained recovery," says Chief Executive Glenn Tracey. Separately on Tuesday, says it has signed non-binding heads of terms with a Chinese partner. The HoT describe the in-principle agreement for the parties to collaborate to supply and market Microsaic's micro-engineered MS technology for use within a point of care medical device monitoring system for hospital diagnostics in the Chinese market.
Cardiff Property PLC - focuses in property investment and development in Thames Valley - Reports net asset value per share of GBP24.45 at March 31, up from GBP23.03 a year ago. Pretax profit falls to GBP365,000 from GBP387,000. Says Thames Valley property market continues to be affected by "strict" Covid-19 lockdown measures. "Working from home and the closure of many retail outlets has led to a marked reduction in letting and investment activity. Office rental levels within the Thames Valley experienced a decline as Landlords preferred to retain occupation of buildings. New lettings inevitably included incentives with shorter lease terms reflecting current uncertainty as to future occupation and trading," says Chair Richard Wollenberg.
Frenkel Topping Group PLC - Manchester-based financial adviser and asset protection services - Revenue for 2020 rises to GBP10.1 million from GBP8.6 million in 2019, while pretax profit rises to GBP1.5 million from GBP1.2 million. Says 2020 was "another positive year" for the firm with results in line with board's expectations. Adds that first three months of 2020 have been strong. "The group has shown resilience against the continuing Covid-19 pandemic and alongside its 99% retention rates has a solid pipeline of new business opportunities that capitalise on the potential brought into the group by recent M&A activity," firm says, adding that it continues to trade in line with management expectations. Total dividend for 2020 is 1.36 pence, up 1% on 2019.
BSF Enterprise PLC - UK-based company seeking acquisition target within the innovation marketing and technology sector - Reports operating loss of GBP31,858 for half-year to March 31, a touch narrower than GBP33,885 loss posted for year before. This is a direct result of administrative expenses slimming. Cash balance at year-end GBP407,050.
Ethernity Networks Ltd - Israel-based networking and security solutions provider - Reports total funding inflows of over USD5.4 million since the beginning of December 2020 to date. "The significant boost to the company's cash reserves has supported the planned expansion of its R&D resources in order to meet the development requirements and to achieve the anticipated revenues for 2021," it says. Adds that 2021 revenue estimates remain in line with expectations, subject to product revenues recognition being dependent on the timely supply of FPGA components, cards and appliances. Notes there is currently a temporary worldwide component shortage that is affecting industry-wide customer deliverables, which Ethernity is overcoming through purchasing from parallel sources until supply levels recover from the original manufactures of the components.
MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Receives wholesale purchase order of EUR640,000 from European nutraceuticals producer and distributor, Swiss PharmaCan AG, for ArtemiC Rescue. This is the second wholesale purchase order received under the agreement with Swiss PharmaCan, with the original purchase order received in February. "Our team in Slovenia has been working tirelessly to ramp up production to ensure rapid deployment of this order, and any subsequent orders that may be received," says Roby Zomer, co-founder and managing director of MGC Pharma.
Nightcap PLC - bar operator in the UK - Agrees to buy the Adventure Bar Group including +Venture Battersea Ltd, Adventure Bars Mid Ltd and Adventure Bars Luna Digbeth Ltd for a maximum of GBP2.5 million. The bars being acquired are seven established themed bars located in London locations, a large outdoor bar, food and entertainment venue in Birmingham, a bar site opening in Birmingham on May 17 and a 50% interest in a central London roof-top bar. The nine target bars include all of the bars branded 'Tonight Josephine', 'Bar Elba', 'Luna Springs' and 'Blame Gloria'. Proposes placing to raise around GBP4 million to partially repay debt which it will assume with deal, and to fund the UK roll out of the 'Tonight Josephine', 'Luna Springs' and 'Bar Elba' brands. Adds the five London Cocktail Club bars which opened on April 12 have traded well, and the remaining five scheduled to reopen on May 17 have seen encouraging levels of bookings.
By Lucy Heming;Â firstname.lastname@example.org
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