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TRADING UPDATES: Fletcher King sees materially higher full-year sales

Fri, 03rd May 2024 16:48

(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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Prospex Energy PLC - Europe-focused gas and power project investor - Provides update from the Selva Malvezzi production concession in Italy following the publication by Po Valley Energy Ltd of its first quarter 2024 activity report. PVE is the operator of the Selva Malvezzi production concession, in which Prospex has a 37% working interest. PVE says the Podere Maiar-1 well at Selva continues to perform consistently during the first quarter. Average daily production for the quarter was around 80,000 standard cubic meters per day. Gross quarterly production was 6.4 million scm of gas and gross revenue for the quarter was EUR1.9 million, with EUR705,549 net to Prospex.

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Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in the UK and Europe - Announces a follow-on investment of GBP4.0 million into its existing capital partner, BPVA Ireland Ltd. Explains this will enable BPVA to complete its latest acquisition as well as reorganise the shareholder base through the buyout of certain minority investors. BPVA is an investment holding company established in 2018 to execute a buy and build strategy of synergistic companies within the Irish/UK staffing and resourcing sector. Its current holdings include Brightwater Selection (Ireland) Ltd, PharmEng Ltd and Vantage Resources Ltd. Duke retains a 30% interest.

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Ceps PLC - Bath, England-based investment company focussed on industrial sector - In 2023, pretax profit rises to GBP1.8 million from GBP1.3 million a year prior. Basic and diluted earnings per share increases to 2.65 pence from 2.19p. Revenue grows to GBP29.7 million from GBP26.4 million. Says: "Going forward in 2024 we are very hopeful that the continued anticipated decline in inflation will lead to a steady, but regular, decline in interest rates in the second half of the calendar year. Historically, that sort of environment has been very positive for small company share prices."

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Fletcher King PLC - London-based chartered surveyors firm - Provides trading update for year to April 30. Reports "strong" second half business performance. Expects full-year revenue to be "materially higher" than management expectations, with a corresponding increase in profitability. Predicts pretax profit will be "two to three times higher" than the GBP192,000 reported in the year to April 2023.

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Keystone Positive Change IT PLC - invests in companies which make positive social or environmental impact and is managed by Baillie Gifford - Net asset value at March 31 is 262.3 pence, up from 237.2p at the end of September.

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Pollen Street Group Ltd - London-based asset manager - Issues trading update for quarter ending March. Says fundraising is progressing well across Private Credit and Private Equity. Reports total assets under management rise to GBP4.4 billion March 31 from GBP4.2 billion at the end of 2023. Says the investment company is performing in line with guidance.

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Argo Blockchain PLC - London-based cryptocurrency miner - Provides operational update for April. Says mined 99 Bitcoin, or 3.3 Bitcoin per day compared to 103 Bitcoin in March. Says production remained similar to March despite the Bitcoin halving occurring on April 19. This is primarily due to a temporary but significant spike in transaction fees in the days immediately following the halving. Mining revenue in April amounted to USD6.6 million, down 6% from March. As of April 30, Argo held digital assets worth the equivalent of 12 Bitcoin.

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Warpaint London PLC - Buckinghamshire-based supplier of cosmetics and owner of the W7 and Technic brands - Shore Capital Stockbrokers Ltd confirms sale of 7 million shares in Warpaint at 450 pence each. The placing was conducted through an accelerated bookbuild to institutional investors. The placing was substantially oversubscribed and was very strongly supported by both existing and a large number of new institutional investors. Accordingly, the sellers agreed to upsize the placing from 6 million ordinary shares to 7 million ordinary shares. Shares placed represent 9.1% of Warpaint's share capital.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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