TRADING UPDATES: M&C Saatchi lifts guidance on new client wins

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

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M&C Saatchi PLC - London-based advertising agency - For the first four months of 2021, trading has been stronger than expected, leading to board anticipating that company results for the year to be ahead of expectations. This is due to new business, with new clients including the first digital UK Census campaign, Tinder and Australian energy firm Origin.

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Coral Products PLC - Manchester-based plastic products supplier - For the year ended April 30, expects sales from continuing operations to be no lower than GBP10.7 million, up from GBP8.7 million the year before. In addition, expects swing to pretax profit of GBP3.0 million, from loss of GBP800,000, due to gains from disposals of Coral Mouldings and Interpack. Proposes final dividend of 0.5p per share.

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Churchill China PLC - Stoke-on-Trent-based ceramic products maker - At annual general meeting, company notes recovery in hospitality activity and sales as pandemic restrictions start to relax, following a quiet first quarter of 2021. Improved trading experienced in the UK, with stronger trading in Europe and other export markets. Currently trading in line with management expectations.

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Ingenta PLC - Oxford-based publishing software developer - For 2020, swings to profit of GBP264,000 from loss of GBP1.3 million, due to impairment charges of GBP1.7 million in 2019. However, revenue dips 6.4% to GBP10.2 million from GBP10.9 million, as a result of a business refocus towards its core software offering, and reduced reliance on the sales consultancy services. Proposes dividend of 1.5p per share, in line with year before.

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DeepMatter Group PLC - Bristol-based company focused on digitising chemistry - For 2020, pretax loss narrows to GBP2.7 million from GBP3.4 million the year before. Revenue rises 10% year-on-year to GBP1.3 million from GBP1.2 million, due to sales and paid trails from DigitalGlassware. Looking ahead, has started expansion into US via co-distribution agreement with Elemental Machines.

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Actual Experience PLC - AIM-listed analytics-as-a-service company - For the six months ended March 31, pretax loss narrows to GBP2.2 million from GBP3.0 million on reduced costs following the decrease in company's headcount, despite revenue dipping 8.5% to GBP889,467 from GBP971,516, due to the cancellation of small legacy accounts.

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OTAQ PLC - Lancaster-based marine aquaculture technology company - For the year ended March 31, expects results to be in line with market expectations, as in-house development and strategic acquisitions are made to address challenges brought forward by the disruption to travel.

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National World PLC - investment business focused on news publishing - For the first quarter of 2021, revenue fell 18% year-on-year due mostly to decline in Print. Company expects 18% growth for April and May collectively. For the 21 weeks ended May 29, company expects an 8% year-on-year drop in revenue to GBP34.2 million. Expects to double its online audience by the second half of 2022.

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Argos Resources PLC - Falkland Islands-based exploration firm - For 2020, posts narrowed loss of USD299,000 from USD401,000 the year before, as well as lower cash reserves at December 31 of USD438,000 from USD768,000. Continues to seek partners to participate in drilling on its licence in the North Falklands Basin, and is engaged with several interested counterparties.

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CIP Merchant Capital Ltd - AIM-listed closed-ended investment company incorporated in Guernsey - As at December 31, net asset value per share stands at 77.80 pence, down 7.5% in the year from 84.09p. At the end of 2020, had a portfolio of 11 investee companies, however to date has a portfolio of 14 companies. Looking ahead, with cash position of GBP9.5 million, company remains well placed to take advantage of additional investment opportunities.

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Springfield Properties PLC - housebuilder in Scotland - Notes strong build and sales activity in the first half of the year ended May 31 had continued into the second half, with high demand across the business. With "excellent" sales in the group's private housing, for the year as a whole, revenue and profit are set to come in significantly ahead of market expectations.

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Gooch & Housego PLC - Ilminster, Somerset-based maker of optical components - For the six months ended March 31, statutory pretax profit down 61% at GBP670,000 from GBP1.7 million the year before, driven by one-off restructuring costs. On an adjusted basis, pretax profit was up 84% at GBP4.9 million from GBP2.7 million. This was on revenue which grew 1.8% year-on-year to GBP58.5 million from GBP57.5 million. Resumes interim dividend at 4.5p per share. Looking ahead, annual expectations remain unchanged.

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PetroTal Corp - oil and gas development and production company focused on the development of oil assets in Peru - For the first quarter of 2021, production averages 7,331 barrels of oil per day, remaining materially on budget. Swings to net income of USD30.9 million from loss of USD31.4 million due to higher commodity prices. Looking ahead, reaffirms its 2021 average production guidance of 11,500 bopd.

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Tekmar Group PLC - provider of technology and services for offshore energy markets - For the 12 months ended March 31, swings to pretax loss of GBP2.5 million from profit of GBP2.0 million the year before, on revenue which declined 29% year-on-year to GBP29.1 million from GBP40.9 million. Looking ahead, Tekmar expects to achieve a stable financial performance in the remainder of the extended financial period ending September 31. Following strategic review, Tekmar is targeting a doubling of revenue within five years from FY 2020's run-rate of GBP40 million, as well as deliver a mid-to high teen Ebitda margin.

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Scholium Group PLC - rare books, arts and collectibles firm - Posts loss for second half of year, albeit marginally narrowed from the first half, due to severe disruption in trading with Covid-19 restrictions, in particular the closure of its Mayfair retail premises for most of the year ended March 31. As a result, Scholium does not expect to trade profitably in the first half ending September 30.

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Mila Resources PLC - natural resources company - For six months ended December 31, net loss widens to GBP122,037 from GBP50,504 on rising administrative costs. during period, identified potential reverse takeover candidate as New Generation Minerals Ltd. Deal has been simplified to the acquisition of NGM's interest in Kathleen Valley Gold project in Western Australia.

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Immotion Group PLC - Manchester, England-based entertainment company - Reports recovery in revenue in Location-based Entertainment locations following the relaxation of restrictions in most of its US and UK locations. April's revenue in partner business was GBP402,000, up 35% from March's figure. Looking ahead, company is set for a profitable summer should lockdown easing remain on course.

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CentralNic Group PLC - London-based domain name registry and registrar services firm - For the first quarter of 2021, swings to pretax loss of USD1.4 million, from profit of GBP700,000 the same period a year before, due to higher acquisition and integration costs. However, adjusted Ebitda rose 23% to GBP10.1 million from GBP8.2 million, on revenue growing 48% year-on-year to USD84.4 million from USD56.9 million on solid organic growth from all segments.

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Zaim Credit Systems PLC - London-based fintech lender serving Russia - For the three months ended March 31, the company reported profitable trading in the quarter, as the total loans issued nearly doubled year-on-year to GBP5.1 million from GBP2.5 million the same period a year prior, driven by a strong performance in the online segment, which comprises 84% of Zaim's total business. Looking ahead, group is well placed to gain further market share.

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Pharos Energy PLC - oil & gas exploration and production company - For the four months ended April 30, working interest production reached net 9,360 barrels of oil equivalent per day, with revenue for the period reaching around USD40 million. Looking ahead, Vietnam TGT infill well drilling campaign is due to start in third quarter of 2021, while working interest output guidance for 2021 remains unchanged, with Egypt between 4,000 to 4,400 bopd, and Vietnam between 5,200 and 6,200 boepd.

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Victoria PLC - Worcestershire-headquartered flooring firm - Reports continued strong trading across all regions and product groups, with double-digit increases over figures from company's 2019 financial year. Looking ahead, leading indicators such as housing transaction, savings rates and consumer confidence suggests a sustained high level of consumer demand for Victoria's products for the future.

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i3 Energy - Aberdeen-based oil and gas producer - Reports GBP13.0 million revenue in 2020 after making no revenue in 2019. Swings to a pretax profit of GBP10.6 million after a loss of GBP10.9 million the previous year. Plans to pay up to 30% of free cash flow in dividends in 2021. Acquires an additional 50% stake and operatorship of the South Simonette oil property for USD4.2 million, bringing total stake to 99%.

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Rockfire Resources - London-based gold and copper explorer with assets in Queensland, Australia - Pretax loss widens 13% in 2020 to GBP719,987 from GBP635,542 in 2019. A "sustained and highly successful" drilling programme at the Plateau gold desposit in 2020 provides momentum for an extended programme. Company aims to complete an updated scoping study towards the end of 2021.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

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