Source - Alliance News

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


UP Global Sourcing Holdings PLC - Oldham, Greater Manchester-based consumer brands owner trading as Ultimate Products - For the six months ended January 31, pretax profit rises 36% to £9.8 million from £7.2 million, on revenue which grows 14% year-on-year to £85.7 million from £75.4 million, driven by strong performances from Supermarkets and its acquisition of homewares brand Salter. Declares interim dividend of 2.3 pence per share, up 36% from 1.69p a year prior. Looking ahead, the company expects its annual performance to be in line with market expectations.


Sylvania Platinum Ltd - Bermuda-based platinum group metals producer - For the third quarter ended March 31, Sylvania Dump operation delivers 15,840 4E PGM ounces, up from 16,605 ounces the previous quarter. As a result, SDO net revenue climbs to $47.9 million from $38.8 million in the second quarter, while group earnings before interest, tax, depreciation and amortisation rises to $30.0 million from $22.3 million. Reaffirms annual production guidance of 66,000 to 68,000 ounces.


Future Metals NL - Perth-based platinum exploration company - In update for the three months ended March 31, says assay results received for Panton PGM project from eight resource definition holes all demonstrate significant mineralisation over broad, shallow intercepts. A review of geophysical and geological data is underway, while an updated mineral resource estimate remains on track for the second quarter.


URA Holdings PLC - strategic minerals exploration in southern and central Africa - For 2021, pretax loss widens to £289,000 from £173,000 the period before, as a result of higher administrative expenses as the company continues to develop its recent acquisition of Malaika Exploration Ltd, which holds two exploration licences in Zambia.


Galantas Gold Corp - Northern Ireland-focused gold producer - Reports no revenue generated in 2021, in line with the year before. Net loss for the year widens to C$5.3 million from C$3.2 million, through higher administrative costs. Also on Friday, announces expansion to its current prospecting licence holding in County Leitrim in Ireland. This will increase the company’s total exploration land package by 47.8 square kilometres to 159.4 square kilometres.


Carclo PLC - West Yorkshire-based plastic parts manufacturer - Expects to report a strong performance for the year ended March 31, with underlying profit on track to be in line with expectations, and revenue growth set to be ahead of expectations. Looking ahead, although demand in key markets remain strong in the current financial year, Carclo notes significant headwinds from the spread of Covid-19 in China and India, and the war in Ukraine. As a result, it is anticipated that trading in the early months of the current financial year will remain challenging.


Curzon Energy PLC - investor and developer in US based natural gas projects - For 2021, pretax loss widens to $860,463 from $617,574 the year before, due to higher administrative expenses and a $125,000 charge for reclamation obligations associated with the Coos Bay project. Currently generates no revenue, and relies on loans to meet its overhead costs. Remains in an exclusivity period with Poseidon Enhanced Technologies for a reverse takeover of Curzon, which on Thursday had the period extended to June.


Altus Strategies PLC - Oxfordshire, England-based mining royalty company - For 2021, pretax loss widens to £5.7 million from £2.1 million the year before, as administrative and exploration costs rise and revenue declines 12% to £318,496 from £361,425. During the year, the company acquired a 0.418% net smelter return royalty on the Caserones copper mine in Chile for $34.1 million.


Ferro-Alloy Resources Ltd - vanadium miner with operations in Kazakhstan - Revenue rises 96% to $4.7 million in 2021 from $2.3 million the year before, allowing pretax loss to narrow to $2.8 million from $3.9 million. Vanadium output for the year increases 9.4% to 260 tonnes, and achieves first sales of ferro-molybdenium. Looking ahead, outlook for 2022 has improved with an increased capacity for the third roasting oven, and expectations of higher revenue from the nickel recovery project.


TruFin PLC - financial technology firm - For 2021, pretax loss narrows to £8.4 million from £8.9 million, on lower expenses including staff costs, more than offsetting a 12% year-on-year decline in gross revenue to £13.1 million from £14.8 million, as a result of lower interest and publishing income. For the first quarter of 2022, revenue will be no less than £2.5 million, in line with the same period a year prior.


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