TRADING UPDATES: Simec Atlantis Energy revenue jumps on turbine sales

Wed, 30th Jun 2021 16:25

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

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Simec Atlantis Energy Ltd - Edinburgh-based tidal power developer - Revenue jumps to GBP12.2 million in 2020 from GBP4.9 million in 2019. Pretax loss narrows to GBP19.4 million from GBP36.2 million, thanks to revenue from the turbine and engineering services division and the acquisition of GHR in 2019.

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Cadence Minerals PLC - London-based investor in mineral resource projects - Revenue rises to GBP10.3 million in 2020 from GBP149,000 in 2019. Swings to pretax profit of GBP7.8 million from a loss of GBP1.9 million. Company benefited from higher commodity prices.

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Verditek PLC - London-based solar panel maker - Reports GBP21,521 revenue in 2020, after making first commercial sales in the fourth quarter. Pretax loss widens to GBP2.4 million from GBP1.9 million. Project pipeline was delayed, but activity has increased in recent weeks, and Verditek has received commitments for a number of smaller orders.

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Marwyn Value Investors Ltd - investor in mid-cap companies - Net asset value per share increases 1.6% in 2020 to 163.1 pence from 160.5p, outperforming the FTSE All-Share, which declined 9.8%. Loss narrows to GBP1.2 million from GBP27.0 million.

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Catenae Innovation PLC - London-based data management services provider - Revenue falls 85% to GBP14,948 in year ended September 30, from GBP102,549 in previous year. Pretax loss narrows to GBP769,186 from GBP971,096. Catenae also releases results for the six months ended March 31, showing revenue of GBP12,308, up from GBP4,521 year-on-year. Pretax loss widens to GBP586,798 from GBP379,384. Company is evaluating prospects in the regulated critical infrastructure industries, local government, policing and social care.

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Secure Property Development & Investment PLC - Nicosia, Cyprus-based commercial property investor - Revenue increases 74% to EUR795,700 in 2020 from EUR457,450 in 2019. Pretax loss narrows to EUR1.4 million from EUR2.3 million. Net asset value per share falls 22% in 2020 to EUR0.18 from EUR0.23, after pandemic hit value of properties. Company continues to transfer remaining portfolio to Arcona Property Fund NV.

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Zanaga Iron Ore Co Ltd - iron explorer with project in Republic of Congo - Pretax loss narrows to USD1.8 million in 2020 from USD1.9 million in 2019. Zanaga says despite significant challenges in 2020, it has progressed numerous workstreams which add value to the project.

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Zoltav Resources Inc - oil and gas explorer with assets in Russia - Revenue increases 1.6% to RUB1.24 billion, about GBP12.3 million, from RUB1.22 billion. Pretax loss narrows to RUB1.04 billion from RUB3.1 billion, after a significant impairment in 2019. Average net daily gas production increases to 26.8 million cubic feet from 24.5 million cubic feet, while average net daily oil production falls to 204 barrels from 246 barrels.

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Cobra Resources PLC - gold explorer with project in South Australia - Pretax loss widens to GBP1.0 million in 2020 from GBP668,900 in 2019. Cobra says it is set for "period of significant activity" after drilling and testing in 2020.

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UK SPAC PLC - cash shell formerly known as Mountfield Group - Revenue fell to GBP12.5 million in the 15 months ended March 31, from GBP21 million in 2019. Pretax loss widened to GBP416,180 from GBP270,726 in 2020. Company became a cash shell in March after selling its two trading subsidiaries. Company is looking to make an acquisition, which it must do by September 3 under AIM rules.

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Cake Box Holdings PLC - London-based cake maker - Revenue increases 17% to GBP21.9 million in year ended March 31, from GBP18.7 million in previous year. Pretax profit increases 11% to GBP4.2 million to GBP3.8 million. Declares 3.7p per share final dividend, bringing full-year total to 5.5p per share. Trading has remained strong in financial 2022, and Cake Box is confident of meeting its target for 18 to 24 franchise store openings in the year. Company hires Alison green as non-executive director.

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Carclo PLC - Yorkshire-based medical products maker - Revenue falls 2.7% to GBP107,564 in year ended March 31, from GBP110,506 in previous year. Swings to pretax profit of GBP6.7 million from loss of GBP545,000. After a "challenging period" in which Carclo exited LED business, company says it performed strongly and ended the year on an improving trend.

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Victoria Oil & Gas PLC - oil and gas explorer in Cameroon - Reports USD13.2 million revenue for 2020, down 35% from USD20.8 million in 2019. Revenue in first five months of 2021 was USD6.2 million, up 15% year-on-year from USD5.4 million. Company will release full 2020 results by September 30 after being granted a three-month extension.

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Shefa Gems Ltd - precious stones explorer in Israel - Loss narrows to ILS4.0 million in 2020, about GBP885,000, from ILS7.9 million in 2019. Because of the complexity and costs of exploration, Shefa Gems will change its purpose to a cash shell seeking an acquisition in the internet and software industry.

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By Ivan Edwards; ivanedwards@alliancenews.com