(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Caspian Sunrise PLC - Kazakhstan-focused oil and gas exploration and production company - Says wells 141. 142 and 145 at MJF shallow wells structure "currently not contributing to the current production". Caspian says work at the wells is planned for later in the year to bring them back into production. In addition, says coil tubing work programme at deep well 802 is underway and will conclude by end of September. "The plan at deep well 802 is to clear the drilling fluids blocking the well using coil tubing equipment and then to complete the well ready for testing," it explains. Caspian Sunrise also plans a host of other worth at BNG contract area during the remainder of the year. It hopes production by the end of the year will be "significantly ahead of the current level".
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Ingenta PLC - Oxford, England-based provider of software and services to the publishing industry - Gets "continued growth in revenue and profit" in first half of 2023. Expects to report revenue of GBP5.7 million, growing 3.6% from GBP5.5 million a year earlier. Ingenta expects adjusted earnings before interest, tax, depreciation, and amortisation of around GBP1.6 million, rising roughly 23% from GBP1.3 million. It notes the "normal trading seasonality" it experiences and is confident of meeting market expectations for 2023.
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Epwin Group PLC - Solihull, England-based building products manufacturer - Warns trading "moderating" in second quarter of 2023, after "robust" start to year. "Macroeconomic factors and fiscal tightening impacted demand, however trading in the group's core markets remains resilient," Epwin adds. "The inflationary pressures that have significantly impacted raw material costs over the last two years have continued to ease, although PVC resin prices remain at elevated levels. Labour, power and other inflationary cost pressures continue to be managed through pricing." Epwin says first half was in line with expectations, predicting revenue of GBP180 million, up 1.1% from GBP178.0 million a year earlier. It continues to expect underlying operating profit for 2023 in line with the market consensus of GBP24.0 million, which would be up 12% from GBP21.5 million. "The medium and long-term drivers of the market remain positive for the group, with a shortage of new and affordable housing, an ageing and poorly maintained housing stock and increasing concern about the quality of social housing all helping to bolster future demand. Additionally, the group's products have inherently strong environmental credentials and a clear role to play in the decarbonisation of the UK housing stock which will be required to meet net zero ambitions," Epwin says.
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Glantus Holdings PLC - Dublin-based provider of accounts payable automation and analytics services - Reports trading in 2023 has been "ahead of management's expectations". Revenue between January and April amounted to EUR4.6 million. In May alone, it was "ahead of budget at EUR 1.1 million". Glantus adds: "The company is pleased confirm that these trends continued for the whole half year period and trading has remained strong. Given the company has continued to trade ahead of budget, the board expects that the company will report half year results ahead of its expectations." Glantus in July confirmed that it is in discussions over its possible takeover. It has been in talks with private equity firm Accel-KKR LLC.
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By Eric Cunha, Alliance News news editor
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Caspian Sunrise (CASP)
Ingenta (ING)
Epwin Grp (EPWN)