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UK TRADING UPDATE SUMMARY: Naked Wines New Sales Drive Progress

Thu, 6th Aug 2020 22:08

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

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Naked Wines PLC - wine subscription company with customers in US, UK, and Australia - Chair John Walden steps down following annual general meeting, Ian Harding to succeed until his retirement in Summer 2021. July total sales expected to be up 73% year-on-year, taking sales growth in first four months of 2020 up 76% due to new customers sales in particular. Manages approximately 3 percentage point improvement in repeat contribution margin. Should the company "see the heightened levels of new customers and repeat purchase frequency reduce over summer, entering peak trading with an increased customer base and more normalised trading patterns for each customer" then annual sales growth its expected to be approximately 40%. Repeat customer contribution would be between GBP65 million and GBP70 million. Investment in new customers would come to between GBP35 million and GBP40 million with lower year-on-year margins due to the weighting of first orders to smaller cases. Focused costs forecast GBP32 million to GP34 million plus marketing research & development spend GBP3 million.

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Verditek PLC - clean technology company with headquarters in London - Receives "further substantially larger follow-on order" following completion of first Pakistan project. Follow-on order, from SAF Group, is for six containerised ultra-lightweight solar Power Matt worth USD2.2 million. SAF is an international engineering, construction, fabrication, project management company and operated in the oil refining, oil and gas, power generation, and chemical process industries and s collaboration with the regional government of SInd, Pakistan, to supple clean energy to the province. At least one of the units ordered will be used for this purpose, possibly allowing Verditek to move "beyond the initial entry point in the oil and gas industry" and into this new market.

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SDCL Energy Efficiency Income Trust PLC - London-headquartered energy efficiency sector investor with head - Inks deal with Electric Vehicle Network Ltd to acquire 112 electric vehicle charging stations across the UK for up to GBP50 million. Charging sites to be contracted through 20-year fixed price agreements to charge point operators, usually utility companies. On top of the 112 sites, Electric Vehicle Network is planning to develop another possible 380 such sites, requiring another approximately GBPP150 million in the next 36 months, with SDCL having first right of negotiation.

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Caspian Sunrise PLC - Kazakhstan-focused oil and gas company - Raises GBP1 million though a 36.4 million share placing at a 2.75 pence per share issue price, representing a 16% discount to closing price on Tuesday. Funds to be used after switch to export status and measures to combat Covid-19 hurt short-term cashflows and meant "an abnormal build-up of trade creditors". Similar funding not expected to be needed for financial year, "probably not at all". Brent oil price strengthens and while Atyrau refinery domestic price "extremely low by historic standards" it is still paying amounts owed to local traders. Placing arranged by WH Ireland.

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Vast Resources PLC - AIM-listed mining company with operations in Zimbabwe and Romania - Says drill programme targeting area below 18 level on Antonio skarn at Baita Plai molymetallic mine "has returned highly encouraging results" that line up with its expectations. Assays from the first 15 of 20 total drill holes have been received so far. Drilling from 18 level intercepted mineralise zone at depths up to 50 metres below 18 level. "The results are able to be correlated with historic underground mining assays and a zonation of high grade copper – gold - silver mineralisation versus more polymetallic copper – lead – zinc mineralisation can be discerned," notes Vast. Sample BP180282 returns gold assay value 9.15 grams of gold per tonne of ore in hole BP18-019 at a depth of 8.4 metres to 9.0 metres down the hole. Underground operations continue.

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Tern PLC - investment company specialising in the internet of things - Notes portfolio company Device Authority's new approximately GBP200,000 contract with "one of the largest global automotive component and safety technology manufacturers". The name of this manufacturer was not disclosed.

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Triple Point Social Housing REIT - real estate investment trust investing in UK social housing assets - Acquires another 16 properties for GP9.6 million aggregate consideration excluding costs. Has received all rent due for June plus 97% of July rent and balance expected in next two weeks. Now has look-through dividend cover exceeding 100% on EPRA earnings run-rate basis.

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Kropz PLC - phosphate mining and exploration company with projects on the West Coast of Africa - Appoints engineering and construction firm Hatch to conduct focused assessment on the export logistics capacity at Pointe-Noire. This is Kropz's proposed port site and is located 50 kilometres from its Hinda phosphate project in the Republic of the Congo. "The results of the study will confirm the achievable capacity through the proposed port site in Pointe-Noire and highlight any major drivers influencing throughput, from truck receiving to vessel loading," explains Kropz. This will let the company determine capacity for the first phase of mining at Hinda.

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RiverFort Global Opportunities PLC - AIM-listed investment company with headquarters in High Wycombe - Exercises warrants in Eqtec PLC in Q2, then sells them at 93% above exercise price, generating an additional return of more than GBP90,000. July 31 warrant portfolio contains 23 different companies, including in Tanzanian Gold Corp as part of recent transaction.

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Altus Strategies PLC - London and Toronto listed mining royalty company - Reports high grade aircore drilling results at Tabakorole gold project in southern Mali, extending strike length of FT prospect by 600 metres. Results includes aircore drill intercept of 6.2 grams of gold per tonne of ore over 6 metres from 14 metres depth.

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Fulham Shore PLC - owner of UK chain restaurants Franco Manca and The Real Greek - Says most Franco Manca restaurants, 49 out of 51, have reopened, along with 14 of its 18 The Real Greek restaurants. Group sales rising week-on-week since July 4 when dine-in recommences. Estimates re-opened restaurants able to operate at 60% to 70% of prior dine-in capacity due to social distancing, though hits is somewhat compensated by higher delivery and takeaway sales. Achieves rent reductions, deferrals, waivers with many landlords and in talks with others. New Franco Manca Waterloo Station set to open September. Enters new GBP10.8 million debt facility, agrees new terms for existing GBP15 million banking facilities. Conducts equity fundraise targeting and raising gross proceeds of GBP2.3 million via placing and subscription at 6.25 pence per share. Directors to subscribe for around GBP600,000 of subscription shares. Expects to post annual results for financial year ended March in late September.

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eEnergy Group PLC - energy efficiency-as-a-service business in UK and Ireland - Signs "major agreement" with new project funding partner SUSI Parters AG. SUSI providing EUR15 million maximum dedicated funding facility. Terms provide for SUS to buy future recievables arising from new light-as-a-service projects in Republic of Ireland. Payments by client funded through customer energy savings. Facility covers new projects installs for next three nears or when facility fully used. "Given the opportunities perceived in the Irish and UK markets, the group is working with SUSI to develop this agreement into a longer-term funding partnership, beyond the current committed facility size and with the potential to fund LaaS projects in the UK," says eEnergy.

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Ediston Property Investment Co PLC - London-based real estate investment trust - Declares 0.3333 pence per share interim dividend payment for July. Says quarterly rent collection in line with prior forecast, rent payers still meeting commitments. As of Wednesday, Ediston will have collected 81% of rent due by August 1 and will have collected 90% of rent due for quarter ending September if tenants who have paid monthly in July and August make September payments.

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Immotion Group PLC - immersive entertainment company headquartered in Manchester - Launches UV anti-bacterial cleaning cabinets under Uvisan brand. Product originally designed only to clean VR headsets for partner locations but "has received numerous external commercial enquiries" and decided to sell its cabinets to third parties under Uvisan. In the last week, it has sold ten cabinets, including four to Chichester University. Cabinets available in variety of sizes ranging in price from GBP2,399 to GBP3,199.

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Maestrano Group PLC - cloud-based platform for master data management and business analytics business based in London - Notes recent announcement revealing appointment of US distributor and progression to phase 3 of its Meitetsu project. Aware of no further information behind recent share price rise. Shares up 85% since July 31.

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Alien Metals Ltd - minerals exploration and development company with assets in Australia and Mexico - Announces details of maiden exploration drill programme at Donovan 2 copper-gold-volcanic massive sulphide project in Mexico. Identifies three targets, two geophysical targets. Plans to drill six holes for 1,000 metres total drilling and begin work " as soon as possible".

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By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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