(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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Serinus Energy PLC- oil producer with operations in Romania and Tunisia - Revenue slips 1.4% to USD24.0 million in 2020 from USD24.4 million in 2019. Pretax loss widens to USD8.5 million from USD288,000. Output in 2020 rises 68% to average of 2,340 barrels of oil equivalent per day, from 1,389 boed. "2020 was a transformational year for the company. Despite the disruptions caused by a global pandemic and the concurrent commodity price crashes, Serinus demonstrated the resilience of our cash flows, the drive and determination of our operating teams and the ability to maintain positive cash flows through the bottom of the commodity cycle," company says.
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Amiad Water Systems Ltd - Israel-based water treatment and filtration systems - Revenue in 2020 climbs 9.5% to USD104.6 million from USD115.6 million. Pretax profit surges to USD4.1 million from USD79,000. Selling and marketing costs down 18% to USD23.3 million. "Looking ahead, we entered 2021 with a significantly higher backlog than at the same point of the prior year and there has been a strong increase in sales activity, reflecting improved conditions in all of our markets," Chief Executive Officer Dori Ivzori says. Proposes adding Ronit Fein and Avital Refaely to board. Fein was formerly chief economist of manufacturer Keter Group. Refaely was former CEO of chocolate restaurant and brand Max Brenner.
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Corcel PLC - natural resources explorer and developer focused on battery metals - Generates no revenue in six months ended December 31, like in year prior. Pretax loss narrows to GBP526,000 from GBP620,000. Posts just GBP29,000 in finance expenses, down from GBP222,000. "During the second half of 2020, and despite a highly challenging period driven by the global pandemic, Corcel has continued to progress its balanced portfolio of mineral exploration projects, coupled with UK based energy generation and storage," Corcel says.
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Global Petroleum Ltd - oil and gas, upstream exploration company presently focused on Africa and the Mediterranean - Says no revenue in six months ended December 31, like in year prior. Pretax loss widens year-on-year to USD3.1 million from USD748,541. Posts USD2.4 million pretax loss in Africa arm, after breakeven in year prior.
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Touchstone Exploration Inc - onshore projects in Trinidad & Tobago - Petroleum sales fall 49% to USD19.6 million in 2020 from USD38.7 million. Net loss widens to USD11.0 million from USD5.6 million. Annual crude oil sales fall 24% to 1,392 barrels per day from 1,825 bopd. "As expected and consistent with 2019, our crude oil production has reduced due to the ongoing impact of natural declines, reflecting a strategic focus on our Ortoire exploration program which has limited development capital investment," Touchstone says.
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Bidstack Group PLC - London-headquartered in-video game advertising firm - Revenue in 2020 tops market expectations, rising to GBP1.7 million from GBP140,391. Pretax loss widens to GBP7.0 million from GBP5.4 million. Administrative expenses rise by third to GBP7.2 million from GBP5.4 million. "In 2021 Bidstack intends to continue building its technology to unlock the potential of gaming for advertisers by focusing on raising awareness with global agency holding groups and advertisers, showing evidence of return on investment with ad measurement and through increasing the ease of purchase with premium inventory," company says.
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India Capital Growth Fund Ltd - invests directly, or indirectly, in companies based in India - Says net asset value per share climbs 10% to 97.70 pence at December 31 year-end, from 88.50p a year earlier. "In 2020 as a whole, NAV rose 10%, underperforming the benchmark, the BSE Midcap TR Index, which was up 14%," India Capital says. "In the second half of the year, after the changes to the investment process and investment team came into effect, performance significantly improved. NAV increased 39%, outperforming the benchmark by 10% over the six months."
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BMO Private Equity Trust PLC - UK-based investor in unlisted companies, launched in 1999 - Net asset value per share at December 31 year-end rises 18% annually to 486.17 pence from 411.51p. NAV total return was 23% during 2020, beating FTSE All-Share Index's negative 9.8%. BMO declares 16.13p worth of dividends for 2020, up 5.2% from 15.33p.
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By Eric Cunha; ericcunha@alliancenews.com
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India Cap (IGC)
Global Petroleum (GBP)
Touchstone Exploration (TXP)
Corcel (CRCL)
Serinus Energy (SENX)