TRADING UPDATES: Eden Research, Abingdon guide for weaker results

(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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Eden Research PLC - Cirencester-based agricultural chemicals producer - For 2021, expects pretax loss to widen to GBP3.4 million from GBP2.2 million the year before, as revenue remains flat at GBP1.4 million, due to product sales remaining flat on adverse foreign exchange rates, and a delay on a number of product authorisations.

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Abingdon Health PLC - York-based lateral flow test maker - For the six months ended December 31, revenue plunges to GBP1.7 million from GBP7.7 million, due to falling Covid-19 related sales and no Department of Health & Social Care revenue being recognised, due to the lack of use of the AbC-19 Rapid Test. Looking ahead, company is looking to focus more on new product development, launching an e-commerce site and continue offering its contract services as Covid strategies across the world start to change.

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Safestay PLC - London-based operator of city centre hostels across Europe - Concludes strategic review, and has ended formal sale process, due to not enough shareholders expressing support for a potential sale of the company. Will continue to explore all avenues for stronger trading, with revenue for the first quarter of 2021 to date being ahead of management expectations.

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Eneraqua Technologies PLC - London-based energy and water efficiency services - For the year ended January 31, expects to report adjusted earnings before interest, tax, depreciation and amortisation in line with management expectations, driven by new contracts.

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Byotrol PLC - Chester-based developer of antimicrobial technologies and products - For the year ending March 31, expects product sales to be GBP5.2 million, down from the year before. Results are largely dependent on what IP agreements are closed in the next four weeks. If none are closed, company expects to report positive underlying Ebitda, and revenue to be no less than GBP6 million.

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Eurasia Mining PLC - Russia-focused mining and mineral exploration company - At a board meeting, company reiterates that the fundamentals of the company developed over the years have not changed, and that none of its team members have sold any shares in the firm. Eurasia says it is monitoring the current sanctions on Russia and that none of the targets are associated with the company in any way, or that Eurasia's M&A strategy will be affected.

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Asiamet Resources Ltd - White Rock, Canada-based exploration and development company - Due diligence with PT Delta Dunia Makmur Tbk is well advanced, with further expert input required in some technical areas. In addition, appointment process for tier one bank to lead debt financing is also well advanced. Due diligence completion would see Delta contribute USD50 million towards the development of the BKM copper project, in return for a 51% stake in Asiamet subsidiary Indokal Ltd.

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Raven Property Group Ltd - Russia-focused commercial property investment - Holds uncertainty over its ability to access the funds of its Russian subsidiaries, and if those funds can be converted to the correct currency. Raven will take a conservative financial approach, and dies not expect to pay ordinary shareholder distributions for 2021 or the preference share coupon for the first quarter of 2022 as a result of sanctions against Russia.

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Amala Foods PLC - Jersey-based food technology firm formerly known as BigDish - Discussions with Terra Rara UK Ltd continue and it has executed an updated term sheet upon which a definitive agreement will be based. Amala Foods terms with Terra Rara will provide shareholders 30% of enlarged company.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

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