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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Hornby PLC - Margate-based manufacturer of model and hobby products - Says sales for fourth quarter ended March 31 were ‘very encouraging and ahead of the same period last year’. Expects annual sales and margins to be in line with budget and ahead of prior year. ‘The group will report a profit for the year having first returned to a position of profitability in the prior year,’ Hornby adds. ‘Managing supply chains continues to be challenging with extended shipping times from our partner factories and disruptions in UK deliveries into our warehouse due to a lack of drivers and fuel. Electronic components availability and lead times have also impacted our ability to increase sales further during the financial year ending 31 March 2022.’
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Victoria PLC - Worcestershire, England-based flooring manufacturer - Says revenues and underlying profit for year ended April 2 to be ahead of market expectations. Expects revenue in excess of £970 million, up from £662.3 million and underlying earnings before interest, tax, depreciation and amortisation above £155 million, up from £127.4 million. Says demand is strong, inflation is being managed and supply chains are secure. Company adds: ‘Shareholders may recall that Victoria invested heavily in raw materials and continuity of operations last year to ensure production schedules and normal product availability were maintained, despite the global supply chain disruptions. This established Victoria as a reliable partner to our customers, when many alternative suppliers had extended delivery periods (or even no delivery at all), and this reputational enhancement has led to continued market share gains. Management believes that the group’s reliability will continue to drive long-term organic growth.’
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Brave Bison Group PLC - London-based media and marketing company - Appointed by Le Mans Endurance Management to help management of content, channels, rights and monetisation. Le Mans Endurance is a car endurance racing organisation. Brave Bison adds: ‘Le Mans Endurance Management’s four YouTube properties: Le Mans Cup, European Le Mans Series, Asian Le Mans Series and FIAWEC will join the already established community of leading sports organisations that Brave Bison manages across YouTube, including Australian Open, US Open, Ryder Cup, DP World Tour & PGA TOUR.’
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Mode Global Holdings PLC - bitcoin banking app based in London - Teams with global payroll platform Lano to enable its clients to pay UK employees a portion of their salary in bitcoin.
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Argentex Group PLC - London-based foreign exchange advisory and execution services provider - Says revenue in 12 months to March 31 rises 23% to £34.5 million from £28.1 million. Expects underlying operating profit margin ‘broadly in line’ with prior year’s 30.9%. Notes ‘continued strong client demand’ with 528 newly traded corporates, taking total number of corporates trading for the year to 1,624.
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Caledonia Mining Corp PLC - Jersey, UK-based gold producer with operations in Zimbabwe - Says first quarter output amounts to 18,515 ounces, ‘a record for any first quarter’ and up 40% annually. Backs guidance for 73,000 to 80,000 ounces output in 2022.
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Oriole Resources PLC - London-based gold exploration company focused in Cameroon and Senegal - Receives UK research and development rebate totalling £403,000. Claims relate to ‘geoscientific advances sought by the company’ and are in respect to 2021. Oriole adds: ‘The successful claim demonstrates that the company qualified for the R&D tax relief by performing research work on potential areas of mineralisation in order to build the geological data necessary to assess the economic feasibility of future mining operations in those areas.’
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Altus Strategies PLC - Oxfordshire, England-based mining royalty company - Says Morocco issues 10-year mining licence for Agdz copper and silver project. Altus notes Morocco portfolio is held by unit Aterian Resources Ltd. Aterian is subject to a potential vend-in and royalty generation deal with Eastinco Mining & Exploration PLC.
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Landore Resources Ltd - BAM gold project at Junior Lake in Ontario, Canada - Plans to recommence exploration at ‘highly prospective northern zone’ of Junior Lake asset in Canada in light of ‘significant increase in the demand for battery metals’. Elsewhere, says delay to start of drilling at Felix Lake amid ‘extreme winter conditions’. Operations now expected to begin in early July.
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Mosman Oil & Gas Ltd - Sydney-based oil and gas company - Reports increased output from Winters-2 well in East Texas. Mosman has a 23% working interest in Winters-2. Says five-day output between April 6 and 10 was 180 barrels of oil equivalent per day, up 31% from production rate reported on March 14.
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e-Therapeutics PLC - Oxford, England-based computational drug discovery - Reaches ‘key milestone’ in pact with biotechnology firm Galapagos NV. ‘This key milestone results in a cash payment to e-therapeutics, following the successful characterisation by the company of the mechanism of action of hit compounds identified earlier in the collaboration. These hits, which were originally identified through e-therapeutics’ proprietary computational discovery platform, have been experimentally validated by Galapagos in relevant assays,’ e-Therapeutics says.
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Feedback PLC - medical imaging software company - Wins two 12-month contracts to provide Bleepa product across two NHS Trusts, for total of £200,000.
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Amte Power PLC - developer and manufacturer of lithium-ion and sodium-ion battery cells - Teams with Sprint Power and Eltrium for development of ‘next-generation battery technologies’ in order to meet needs of electric vehicle market. ‘The collaboration will commence in 2022 and will aid global car makers and start-ups as they ramp up development of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs),’ Amte says.
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