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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Cordiant Digital Infrastructure Ltd - Guernsey-based investor in core digital infrastructure, with a portfolio focused on data centres, telecommunications towers and fibre networks in the UK, EEA and US - Notes portfolio company CRA signs five-year agreement with AMC Networks International, a global provider of content such as Film+ and Sport1. Cordiant says the deal ‘underscores the new ways in which broadcast is being used in modern digital networks to improve efficiency, increase access and support sustainability initiatives.’ Malnay Levente, Chief Executive Officer of AMC Networks International says: ‘The Czech market is key for us in the Central European region and therefore securing wider distribution for our station to an increased number of households is a strategic step. CRA has been a great partner in this effort of ours, who will make it possible for us to take the next step and open a new window in the sphere of lifestyle entertainment television.’
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Plant Health Care PLC - North Carolina, US-based provider of proprietary agricultural biological products and technology solutions focused on improving crop performance - Announces its biofungicide PHC279 receives approval from US Environmental Protection Agency. ‘Derived from natural proteins, PHC279 is the first product from the company’s PREtec technology platform (vaccines for plants) that will be available to US farmers,’ Plant Health Care says. Company expects Wilbur-Ellis Agribusiness, a US retailer of agricultural products, to start selling PHC279 under the brand Obrona in 2023.
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Poolbeg Pharma PLC - London-based infectious disease-focused biopharmaceutical company - Announces positive data from POLB 001 LPS human challenge trial. POLB 001 is a bacterial lipopolysaccharide treatment being developed for severe influenza. Poolbeg says the treatment was shown to be safe, well tolerated and potent against systemic and localised inflammation. The results show POLB 001’s potential as a ‘blockbuster treatment’ for severe influenza, the firm says. Derek Gilroy, professor of Immunology at University College London, says: ‘POLB 001 has shown substantial promise in dampening the key players of harmful inflammation in both blood and tissues, acting where the immune system can do harm. These exciting data, and safety profile, support a role for POLB 001 beyond infectious diseases into treating a range of acute, aggressive immune responses.’
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Totally PLC - Derby, England-based healthcare provider - For financial year 2023 ending March 31, expects earnings before interest, tax, depreciation and amortisation to be around £6.3 million, slightly above £6.2 million a year prior, but below market consensus. ‘The company has...been impacted by the combined impact of high inflation, national strikes, which increase pressure on services and scheduling, and clinical workforce shortages which increase reliance on agency staff for the delivery of urgent care services,’ Totally explains. Expects revenue to be in line with market consensus, and remains confident in its prospects.
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Touchstone Exploration Inc - upstream oil and gas company focused on Trinidad & Tobago - Completes drilling Royston-1X exploration well in Trinidad. Reaches total depth of 11,316 feet, finding ‘substantial sands’ in the well in which it has an 80% operating working interest. Adds that well is being cased and prepared for production testing. CEO Paul Baay says the company is encouraged by the hydrocarbon indications interpreted from openhole wireline logs, saying: ‘We are encouraged by the Royston-1X drilling results yet remain cautiously optimistic until production testing is completed. Not only is this the deepest well we have drilled to date but it also is the deepest well drilled onshore Trinidad in the last 15 years. The fact that the well was drilled ahead of schedule and within our budget can be attributed to the best-in-class industry standards that Touchstone is driving within Trinidad, both through the introduction of new equipment, as well as additional expertise that we have added to our technical team.’
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Vertu Motors PLC - Gateshead, England-based car dealership - Says trading in the five months to January 31 is in line with management expectations. Expects net debt as at February 28 to be between £80 million and £85 million, compared to a previous guidance of £100 million to £110 million. This compares to net cash of £16.2 million as at February 28, 2022. The company cites ‘strong operating cashflow and working capital management.’ Vertu Motors says 5-month like-for-like revenue is up 9.4% from a year prior, despite new retail vehicles volumes being down 5.4%. New fleet cars volumes are up 13%. CEO Robert Forrester says: ‘Used car margins have normalised back towards historical levels as we had expected and there are tentative signs of improving new car supply. The performance of our service and repair business has been strong.’ Vertu will release its annual results for the year that ended February 28 on May 10.
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