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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Cindrigo Holdings Ltd - Guernsey-based energy producer - Widens loss in 2021 to £2.0 million from £325,000 loss in 2020. Says the biggest cost driver was £204,000 in accrued interest and finance costs for its outstanding convertible notes and administrative expenses of £324,000. Total assets at December 31 stands at £2.4 million, up sharply from £12,000 at the same time a year prior.
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Town Centre Securities PLC - Leeds, England-based property investment and car parking operator - Reports 99.5% of rent was collected from March 24 to April 1. Car park revenue returns to 89% of pre-Covid-19 levels and ibis Styles hotel occupancy levels remain at a ‘significantly’ better level than during the Covid period. Adds that the hotel is on course to make its highest contribution to profit since 2017. Company also announces the sale of its equity investment in YourParkingSpace Ltd to Flowbird AS for up to £20.7 million. At December 31, the book value of the company’s investment in the equity stake was £1.5 million. Town Centre Securities says the sale will be accretive to earnings and says the proceeds will further reduce net borrowings.
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Team17 Group PLC - Nottingham, England-based video game development company - Says trading in the six months ended June 30 have been in line with board expectations. Reports ‘significant’ growth against the first half of 2021, noting a record half-year revenue and adjusted earnings before interest, tax, depreciation and amortisation performance. Says its recent acquisition have settled well into the company and are delivering incremental earnings. Company mindful of ongoing macro-economic uncertainty and inflationary pressures moving forward but says the impact of these remain in line with expectations.
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Arecor Therapeutics PLC - Essex, England-based biopharmaceutical company - Trading in line with expectations as it focusses on advancing its proprietary pipeline and expanding its partnered portfolio. Expects further partnered collaborations in the second half of 2022 and beyond. Notes excellent clinical progress for its diabetes franchise, with data exceeding expectations for its insulin product candidate AT278. Remains on track to report headline data for its other insulin product candidate, AT247, later this year.
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Quixant PLC - Cambridge-based technology outsourcer for gaming industry - For the six months ended June 30, expects revenue to rise 46% to $53.3 million from $36.5 million the previous year, ahead of management expectations. This would be the highest first half revenue performance since 2017, it adds. The Gaming division is anticipated to see 71% revenue growth year-on-year. Warns that supply chain constraint continue to impact the availability of components, however. Expects these issues to persist until the first half of 2023, ‘at least’.
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IQE PLC - Cardiff, Wales-based semiconductor company - Trading in the six months ended June 30 is in line with management expectations, company says. Revenue for the first half is expected at £85 million on a reported basis, this is in line with the prior year’s £79.5 million on a constant currency basis. Full-year guidance of low-single digit revenue growth remains unchanged. Company focussing on a strategy of long-term sustained growth through ‘diversification and value creation’, it explains.
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Helical PLC - London-based property investor - Reports a strong start to its financial year, ending March 31. Notes good progress on letting its vacant space at rents at or above its March 31 estimated rental value. Confident in demand for its new development, the JJ Mack Building. Declares a final dividend for the year ended March 31, 2022 of 8.25 pence.
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