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TRADING UPDATES: Proteome set for profit rise; Kromek expects loss

Mon, 16th May 2022 16:20

(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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Proteome Sciences PLC - Drug development services provider - For 2021, records adjusted earnings before interest, tax, depreciation and amortisation of GBP1.4 million, nearly doubling from GBP720,000, driven by gaining a record number of contracts including an order in excess of GBP1 million. Due to strong order book and cash position, company's board has increased confidence in 2022 profit growth.

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Kromek Group PLC - Sedgefield, England-based detection technology supplier - For the year ended April 30, expects revenue to grow 16% at GBP12.1 million from GBP10.4 million, however, due to supply chain issues preventing the completion of certain orders, the company expects to post an adjusted loss before interest, tax, depreciation and amortisation of GBP1.2 million. Looking further ahead, company expects revenue growth for the year ending April 30, 2023.

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Cora Gold Ltd - West Africa-focused gold explorer - For 2021, pretax loss narrows to USD1.8 million from USD727,000 the year before, as a result of higher overhead costs and an impairment charge of USD466,000 on intangible assets. "Cora is well placed to continue to discover and define economic gold and add shareholder value as we near the completion of the Sanankoro DFS. I would like to thank Cora's shareholders for their continued strong support during this exciting period, as demonstrated by their participation in the company's two fundraises in 2021," says Chief Executive Officer Bert Monro.

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Metals Exploration PLC - mineral resource exploration and development company with assets in the Philippines - For 2021, pretax profit rises 20% to USD11.3 million from USD9.4 million the year before, on revenue which grows 6.3% to USD129.8 million from USD122.1 million. In the year, gold output rises 8.4% year-on-year to 73,206 ounces from 67,552 ounces, and average fold recovery improves to 84.5% from 72.2%. Looking ahead, proposes capital reorganisation, which includes sub-division of each existing share into one new and one deferred, and a capital reduction as deferred shares are cancelled and share premium account.

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Horizonte Minerals PLC - nickel company focused on Brazil - For the first quarter of 2022, swings to pretax profit of USD4.5 million from loss of USD1.4 million, mostly through a gain on foreign exchange. Expects first revenue in 2024, and project development work in ongoing, with a significant ramp-up in activity expected over the coming months amid move into dry season.

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Ocean Wilsons Holdings Ltd - Bermudian investment company, operating through Wilson Sons Ltd - For the first quarter of 2022, Wilson Sons reports Ebitda at USD45.9 million, up 9.5% from USD41.9 million, on revenue which grows 9.6% year-on-year to USD101.4 million from USD92.5 million, as a result of strong towage revenue, benefiting from an improved mix and resilient volumes. Total containers moved however drop 15% at 161,500 TEUs from 189,300 TEUs.

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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - For 2021, Lbitda widens further to USD8.5 million from USD3.6 million, due to a loss in the fair value of Gold Stream and a foreign exchange loss, more than offsetting 16% growth in revenue to USD28.2 million from USD24.3 million. Looking ahead, for 2022 Rambler is targeting to delivery of 7,000 tonnes of saleable copper, and to complete up to 17,000 metres of in-fill drilling.

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JPMorgan Multi-Asset Growth & Income PLC - investment firm - For the year ended February 28, achieves total return of 8.1%, beating the 6.0% return from the company's reference index. Reference index comprises the Libor one-month sterling rate of 0.3% plus 4.5% per annum. As at February 28, net asset value per share increases 4.0% to 106.7 pence from 102.5p the same date a year prior.

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Genflow Biosciences PLC - London-based biotechnology company - As at May 13, has net cash of GBP3.6 million, granting company 2.5 years of working capital. In addition, gains non-dilutive research award from Wallonia, Belgium allowing for further extension of cash runway to support commercialisation activities.

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By Dayo Laniyan; dayolaniyan@alliancenews.com