(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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McBride PLC - Manchester-based manufacturing company - Remains focused on its volume, revenue and cost optimisation plans. Says new business wins and improved customer service levels have driven better volumes. Now expects full year pretax loss to be between GBP5 million and GBP10 million ahead of current market expectations of GBP27.3 million in year ending June 30, 2023. Markets expect revenue of GBP874 million. In financial 2022, McBride posted a pretax loss of GBP35.3 million and revenue of GBP678.3 million. Results are scheduled to be announced on September 19.
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First Property Group PLC - London-based property fund manager and investor - Leases further 241 metre squared, or 2%, of its office building in Gdynia, Poland to Sonniger Polska SA, a heating devices manufacturer. Building is now 28% leased, and net operating loss from the building should narrow to around EUR70,000 on an annualised basis. A further 10,388 metre squared of office space in the building remains to be leased. When fully let it is anticipated that the building should generate net operating income of some EUR2.1 million per annum, First Property says.
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Bluejay Mining PLC - London-based mineral exploration and development company focused on Greenland and Finland - Agrees to end equity subscription with Towards Net Zero LLC, a US-based institutional investor. Under the terms of the subscription, in February, TNZ made a lump sum cash prepayment of USD2 million to the company for the acquisition of new shares. Bluejay must now repay the lump sum. The funds raised from the subscription were to be used to fund a maiden drilling programme at Kangerluarsuk in 2023. The company still expects to commence the drilling campaign at Kangerluarsuk in the summer, and is in discussions regarding progressing alternative financing plans. "Whilst the parties have determined that the subscription need not complete as originally envisaged, the board expresses its gratitude to TNZ for TNZ's flexibility in agreeing to amend the terms of the subscription to release both parties from their subscription obligations. No breach of the terms of the subscription has occurred," Bluejay says.
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Amte Power PLC - Developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist applications - Issues second tranche for GBP1.0 million drawdown of convertible bond facility. The facility was signed in November, the maximum proceeds of the facility are expected to amount to roughly GBP3.9 million.
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Cap-XX Ltd - Sydney-based maker of supercapacitors and energy management systems - Says its full line of "high-performance supercaps" are now available from global authorized distributor Digi-Key. Includes surface-mountable ultra-thin prismatics ranging from 0.035 to 2.4 farad, board-mountable small cylindricals ranging from 1 to 100 farad, screw terminal and weldable large cylindricals ranging from 650 to 5000 farad, and hybrid supercaps. Says Digi-Key has annual sales of over USD5 billion and is a "key resource for design engineers", offering a range of 15 million products. Jeff Colton, EVP at CAP-XX, says "Supercaps are often used to deliver the burst power needed for high-power functions such as data capture and data transmission."
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Coro Energy PLC - Leeds, England-based energy company with a natural gas and clean energy portfolio - Says it has re-submitted its application for the Philippines Department of Energy's Wind Energy Service contract in respect of the onshore Oslob wind power project in Oslob, Cebu. The project covers a 4,617 hectare area.
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Spectra Systems Corp - Rhode Island, US-based authentication technology provider - Receives an amendment to an existing contract for the currently in-use sensors with a "central bank" to provide end of life support for existing sensors as they are replaced by new sensors. The amendment will result in USD885,000 of additional revenue over the period of replacement with most of this expected from 2025 to 2027. Chief Executive Officer Nabil Lawandy says: "We are pleased to provide our valued central bank customer additional services to effectively support their needs. Response to customer needs is a practice we passionately undertake as it builds trust with our customer and supports long-term relationships."
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FireAngel Safety Technology Group - Developer and supplier of home safety products - Trading in the year to date is in line with the board's expectations with two particular exceptions which will not be recovered this year. "The well publicised global supply chain issues of 2022 affected the company by causing lower production than planned, leading to restricted or intermittent supply to its end customers. This especially affected products destined for the UK Trade market and involved the company's higher function higher margin products. This has led to a loss of momentum which the board is working hard to restore, but it might take the rest of 2023 to achieve," the company says. Also says it now expects earnings before interest, tax, depreciation and amortisation for financial 2023 be materially below market expectations, due to a delayed signing of contract. Expects to announce its final results for the year ended December 31 2022 by early May 2023.
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By Sophie Rose, Alliance News reporter
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Spectra (unres) (SPSY)
Coro Energy (CORO)
Cap-xx (CPX)
First Property (FPO)
Mcbride (MCB)
Bluejay (JAY)