Source - Alliance News

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

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Central Asia Metals PLC - copper, zinc and lead explorer operating in Kazakhstan and North Macedonia - For 2021, pretax profit rises 83% to a record of $109.3 million from $59.8 million the year before, on record net revenue which increases 40% to $223.4 million from $160.1 million. Produces 14,041 tonnes of copper, 22,167 tonnes of zinc and 27,202 tonnes of lead. Declares final dividend of 12 pence per share, bringing the total payout to 20p, up 43% from 14p in 2020. Looking ahead, expects Kounrad copper output for 2022 between 12,500 tonnes and 13,500 tonnes, while Sasa is set to produce between 20,000 to 22,000 tonnes in zinc, and 27,000 to 29,000 tonnes in lead.

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Ten Entertainment Group PLC - Bedford, England-based ten pin bowling and family entertainment centres operator - For the year ended December 26, swings to pretax profit of £4.4 million, from a loss of £21.7 million the year before, on revenue which jumps 86% to £67.5 million from £36.8 million, but remained 20% short of pre-virus levels. Looking ahead, for the 2022 financial year, sales growth for the first 12 weeks have increased 42% from the same period in 2019. In addition, annual profit is set to be ahead of market expectations, and is looking to pay a dividend for the 2022 financial year.

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Northamber PLC - London-based distributor of AV & IT equipment - For the six months ended December 31, sinks to pretax loss of £116,000 from a profit of £223,000 a year prior, on higher distribution and administrative costs from the company’s investment in developing its team, in spite of 8.8% revenue growth to £32.3 million from £29.7 million. Declares interim dividend of 0.3 pence per share, in line with a year prior.

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Condor Gold PLC - mine developer in Nicaragua - For 2021, pretax loss widens to £2.3 million from £1.3 million, driven by higher expenses and a lack of gain on the disposal of a project in 2020. During the year, had completed a preliminary economic assessment on the La India project in September, and an infill drilling program on La India’s high grade starter pits. Looking ahead, company notes robust results from infill drilling, which will contribute towards a future feasibility study.

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James Latham PLC - timber and panel products distributor - Revenue for the year ending March 31 is expected to beat the £370 million mark, compared to £250 million the year before, attributed to increasing cost prices, more than offsetting slowing volume growth.

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Westmount Energy Ltd - Jersey-headquartered investor in oil and gas industries - For the six months ended December 31, pretax loss widens to £7.0 million from £1.2 million a year prior, driven by a wider loss on financial assets held at fair value. During the year, Westmount has continued laying the groundwork for the next drilling campaigns on the Kaieteur and Canje block, while the environmental permitting process is ongoing at the Guyanese EPA.

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Genedrive PLC - Manchester-based molecular diagnostics company - For the six months ended December 31, swings to pretax loss of £2.8 million from profit of £621,000, as revenue plunged to £2,000 from £355,000, due to a delay in product development of two new point of care products.

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Orchard Funding Group PLC - Luton, England-based professional fee funding and insurance premium funding - For the six months ended January 31, pretax profit hikes 64% to £997,000 from £605,000 a year prior, on a 31% rise from net interest income to £2.1 million from £1.6 million. Lending volumes grows 27% to £38.2 million from £30.0 million, on growing demand in the direct insurance market. Declares dividend of 1.0 pence per share, in line with year before.

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Highcroft Investments PLC - real estate investment trust - For 2021, swings to profit of £12.2 million from a loss of £1.1 million, due to a wider gain on investment property at £9.9 million from £2.5 million. This more than offsets a 3.8% drop in net property income to £5.3 million from £5.5 million. As at December 31, net asset value per share rises 16% year-on-year to 1,275 pence from 1,104p, as Highcroft’s portfolio value increases 6.7% to £87.6 million from £82.1 million. Declares final dividend of 33 pence per share, bringing the total payout to 55p, down 3.5% from 57p.

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Regional REIT Ltd - London-based real estate investment trust - For 2021, swings to pretax profit of £28.8 million from loss of £31.2 million the year before, due to a narrowed loss in the fair value of investment properties, and a 4.3% increase in net rental and property income to £55.8 million from £53.3 million. Rent roll rises 12% to £72.1 million from £64.2 million, while as at December 31, net asset value per share dips to 97.4 pence from 97.5p, in spite of a 24% rise in portfolio value to £906.1 million from £732.4 million. Declares dividend of 6.50 pence per share, up from 6.40p in 2020.

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CPPGroup PLC - Leeds-based products and services for financial services and insurance sectors - For 2021, pretax profit hikes to £4.2 million from £892,000 the year before, on revenue which grows 5% to £143.6 million from £136.5 million in 2020. Revenue increases 11% on a constant currency basis. Revenue growth was fostered by a strong performance in India, CPP’s largest business. However, the group declared a dividend of 12.5 pence per share, down 50% from 25.0p the year before, following the resetting of CPP’s earnings expectations in January.

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Animalcare Group PLC - York-based veterinary sales and marketing - For 2021, pretax profit hikes to £945,000 from £199,000 the year before, on revenue which grows 5.0% annually to £74.0 million from £70.5 million, driven by exceptional veterinary demand in the first quarter, while markets return to more normal levels. Proposes final dividend of 2.4 pence per share, up 20% from 2.0p in 2020. Looking ahead, expects attractive fundamentals in 2021 to drive sales growth in 2022.

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Schiehallion Fund Ltd - makes minority investments in later stage private businesses which have potential to become publicly-traded - As at January 31, net asset value per share rises to 158.20 cents from 146.99 cents the year before, while pretax profit falls to $30.3 million from $208.3 million, due to a plunge from the gains on investments. Notes that it has no direct exposure to Russia or Ukraine.

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Digitalbox PLC - Bath, England-based mobile-first digital media business - For 2021, swings to pretax profit of £627,000 from a loss of £143,000 the year before, on revenue which grows 68% year-on-year to £3.7 million from £2.2 million, driven by an 82% rise in its user base. Trading for 2022 to date has remained strong and in-line with market expectations.

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One Heritage Group PLC - residential property developer in north-west England - For the six months ended December 31, pretax loss widens to £525,307 from £226,986 a year prior, as revenue declines % to £148,946 from £187,605. Looking ahead, remains cautious on market volatility caused by pressure on material prices, labour and energy prices, but hopes that overseas demand and strong pre-sales will offer some protection.

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IQE PLC - Cardiff, Wales-based semiconductor wafer products - For 2021, swings to pretax loss of £19.3 million from profit of £2.7 million, on revenue which drops 13% to £154.1 million from £178.0 million. On a constant currency basis, revenue fell 7%. This is due to a reduction in demand from GaN wafers used in 5G infrastructure, and a fall in Photonics revenue as a result of delays experienced in certain aerospace and security orders. Looking ahead, expects revenue growth in 2022 at low single digits at a constant currency basis.

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Bioventix PLC - London-based biotechnology company - For the six months ended December 31, pretax profit drops to £3.6 million from £3.7 million a year before, on revenue which declines 8% to £4.7 million from £5.2 million as the Covid pandemic affects activity within diagnostic pathways in hospitals and clinics.In addition, sales associated with assay formats fell due to price erosion in downstream markets. IN spite of this, declared interim dividend of 52 pence per share, up 20% from 43p.

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