TRADING UPDATES: DP Poland sales improve; Braveheart swings to profit

Fri, 18th Jun 2021 13:23

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

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DP Poland PLC - franchise in Poland for Domino's Pizza - Revenue increased by 7% to GBP15.0 million in 2020, with system sales up 5% year-on-year to GBP17.4 million. Like-for-like growth in system sales also was 5%. DP Poland says pretax loss widened to GBP5.8 million, primarily as a result of a significant increase in non-cash and non-recurring items, which totalled GBP2.3 million versus just GBP200,000 in 2019. The company says it had 69 stores at the end of 2020, with no new stores opened during the year. BP Poland notes that Covid-19 had no impact on its operations, as food delivery was not restricted in Poland and the delivery channel experienced "significant" growth. Going forward, the company says in the five months to May 31 its delivery sales increased 14% compared to the prior year and 28% compared to the same period of 2019. Takeaway sales also continue to perform strongly, up 6% year-on-year. System sales for the first five months of 2021 are flat year-on-year and down 5% when compared to 2019.

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Braveheart Investment Group PLC - Barnsley, England-based investment firm - Continues the review of its cost base and to reduce central costs. Revenue from the company's operations comprises investment management fees, with total revenue for the financial year to March 31 being GBP60,000, unchanged year-on-year. Revenue derived from strategic subsidiary undertakings has decreased to GBP205,000 from GBP386,000. Despite that, the company swings to pretax profit of GBP14.2 million from GBP575,000 loss the year before, as it had secured a GBP7.7 million profit on disposal of investments and GBP8.9 million profit on sale of subsidiary. No such profits were recorded the year prior.

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Montanaro European Smaller Cos Trust PLC - Lancing, England-based investment company - Reports net asset value per share as at March 31 of 1,589.0 pence, up from 956.9p the year prior. The company's share price at the end of its most recent financial year stood at 1,610.0p, representing a 1.3% premium to NAV. The trust declares a dividend of 9.25p, unchanged year-on-year. "It is notable that a large number of companies in the portfolio are today worth many times their original cost. We believe this demonstrates that the long term success the company has enjoyed is primarily due to good stock picking rather than shorter term style or economic cycles," says Chair Richard Curling.

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B90 Holdings PLC - Isle of Man-based online sportsbook and casino operator - Reports narrowed pretax loss in 2020 to EUR2.4 million from EUR4.4 million the year before, as total administrative expenses reduce to EUR3.1 million from EUR5.4 million year-on-year. Revenue, however, was lower, at EUR813,011 in 2020 versus EUR1.1 million in 2019. "The operational results were highly impacted as a result of the global Covid-19 pandemic, which caused a cancellation of the vast majority of sporting events globally from mid-March 2020," says Executive Chair Paul Duffen.

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Gresham House Renewable Energy VCT 1 PLC - investment firm - Reports NAV per ordinary share of 92.5p as at March 31 compared to 105.2p posted the year before and 106.7p reported at the end of September 2020. The company says overall performance in the six months to the end of March has been below expectations due to lower than forecast irradiation and legacy technical issues with the older ground-mounted solar assets. As at March 31, the venture capital trust held a portfolio of 16 investments, which were valued at GPB28.0 million.

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Gresham House Renewable Energy VCT 2 PLC - investment firm - Reports NAV per share as at March 31 of 91.6p, down from 104.1p a year prior and down from 105.5p as at the end of September 2020. The company says the overall value of its portfolio has fallen by 7.5% during the six months to the end of March, mainly as a result of changes in taxation that are scheduled to be introduced from 2023. As at March 31, the VCT held a portfolio of 16 investments, which were valued at GBP28.3 million.

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Utilico Emerging Markets Trust PLC - Epsom, England-based infrastructure investor - Reports NAV per share as at March 31 of 228.54p, up 26% year-on-year. Dividends per share for the financial year to March 31 total 7.775p, an increase of 2.6% on the year earlier. The company delivers a NAV total return of 30% for the year, outperforming the MSCI Emerging Markets Utilities Index which was only up by 17% during the twelve months. "Coupled with strong government and central bank support the board does not today see a significant risk from Covid-19 outside of market volatility in valuations," says Chair John Rennocks.

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Challenger Energy Group PLC - Caribbean and Atlantic focused oil and gas company - reports progress on the Saffron-2 appraisal well, targeting the upper, middle and lower cruse reservoirs with an expectation of production rates in the range of 200 - 300 barrels of oil per day. Initial third-party petrophysical analysis of logs from the secondary reservoir targets of the upper and middle cruse sections of the well indicate 165 feet of net-oil bearing reservoir sands, it says. Challenger Energy says drilling continues towards the primary lower cruse reservoir targets, with the well currently drilling at 3,850 feet against a target depth of 4,557 feet. The well remains on-track for completion around Wednesday next week.

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Zinnwald Lithium PLC - High Wycombe, England-based mineral exploration and development company - Says its 50%-owned subsidiary Deutsche Lithium GmbH has been granted a five-year exploration licence covering 225 hectares in the Erzgebirge or Ore Mountains region of Saxony, Germany. The Sadisdorf licence has the potential to provide additional resource upside to the company's Zinnwald lithium project.

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Zephyr Energy PLC - Newbury, England-based exploration & production company - Says due to commence a drilling programme on the Paradox project in US state of Utah in July. The planned appraisal well, the state 16-2LN-CC, will target the company's first production on the Paradox project.

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Angle PLC - Guildford, England-based liquid biopsy company - Reports results of a new study, by team of professors led by Evi Lianidou, undertaken in non-small cell lung cancer, which demonstrates the benefit of analysing circulating tumour cells, in addition to circulating tumour DNA, to inform treatment decisions. The aim of the study was to detect epithelial growth factor receptor mutations in circulating tumour DNA and matched circulating tumour cells from a single blood sample. The study used the Parsortix system to harvest circulating tumour cells in blood samples from 48 metastatic non-small cell lung cancer patients, with known epithelial growth factor receptor mutations, before treatment with a targeted therapy and again at disease progression. "Critically, this study supports the view that circulating tumour cells, rather than circulating tumour DNA, are key to gaining an insight into the future development of a patient's cancer," says Angle Founder & Chief Executive Andrew Newland.

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Yourgene Health PLC - Manchester, England-based diagnostic products developer - Secures contract to supply its Elucigene DPYD testing kits to NHS Wales. The UK contract award is for two years and is estimated to be worth GBP232,000.

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Sportech PLC - London-based betting technology company - Confirms the completion of three transactions: the sale of the global Tote business to BetMakers Technology, the sale of Bump 50:50 to Canadian Banknote, and the sale of a freehold property in New Haven, Connecticut. The net cash from all of these three transactions totals GBP36.1 million. Sportech says it intends to return the majority of proceeds to its shareholders when opportune to do so.

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Victoria Oil & Gas PLC - energy supplier in Africa - Says its subsidiary Gaz du Cameroun SA has agreed with Meridian Capital HK Ltd to raise a maximum of USD7.5 million through the issue of unsecured loan notes. The proceeds will be utilised for general working capital purposes, including long lead Items for the proposed well on the Matanda licence, offshore Cameroon.

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Gulf Keystone Petroleum Ltd - Bermuda-based oil & gas exploration and production company - Says it will consult with its shareholders after resolutions 2 and 6 were passed at the annual general meeting on Friday, but did not attain the support of 80% of shareholders who voted. The resolutions relate to re-apointment of Jaap Huijskes as director of the company.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com