The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:
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Braemar PLC - London-based shipbroker and advisor in shipping investment - Says benefitting from ‘increased scale’ of shipbroking offering during six months to August 31. ‘Trading has been very strong with all sectors of the core Shipbroking business generating higher revenue than in the previous six months,’ company says. Revenue of £69 million expected for half-year, up 475 year-on-year. Underlying operating profit expected to rise 88% to £10.5 million.
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NWF Group PLC - Cheshire, England-based agricultural feed, food and fuel distributor - Says trading in first quarter, typically its most quiet, is ‘strong’. NWF commenced financial year on June 1. ‘All three divisions have traded ahead of the board’s expectations and ahead of the prior year, with the group remaining cash positive,’ NWF says. ‘With the seasonally busier winter months to come, which are the most material to the group’s performance, the board’s outlook for the financial year remains unchanged at this early stage of the year.’
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Coral Products PLC - Manchester-based plastic products maker - Says enjoys ‘strong start’ to financial period. Sales and pretax profit ‘materially’ higher year-on-year. ‘Whilst the short-term macroeconomic outlook remains challenging, the group will continue to seek opportunities to strengthen and develop our business,’ Coral Products. ‘With our strong balance sheet, we are confident of further progress in the current financial period’.
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Ukrproduct Group Ltd - Jersey-based dairy foods and beverages producer and distributor in Ukraine - Trading of shares restored as publishes belated annual results. In 2021, revenue falls to £52.0 million from £55.5 million. Swings to £329,000 pretax profit from £1.2 million loss in 2020. Posts net foreign exchange gain of £599,000, swinging from £1.5 million loss in 2020. In addition, files results for half-year ended June 30. Revenue declines to £18.3 million from £25.5 million a year prior. Swings to £152,000 pretax loss, from £81,000 profit.
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African Pioneer PLC - exploration company with projects in Namibia, Botswana and Zambia - Pretax loss in six months to June 30 widens to £330,906 from £183,649. Posts £119,857 unrealised loss on investments, swinging from £16,942 gain a year earlier. Company on Thursday said Ongombo mining licence was approved. Shallow drilling is also ongoing, in bid to define near-surface copper and gold mineralisation.
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Bluebird Merchant Ventures Ltd - South Korea-focused gold development company - Swings to pretax loss of $853,955 in six months to June 30, from $8.0 million profit a year earlier. Administrative expenses jump to $648,820 from $241,976. Also reports no gain on acquisition of joint ventures, compared to $8.3 million boost in prior year. On Tuesday, company says licence extension request for Batangas gold project has been received. Has been granted ‘25-year mineral production sharing agreements’ at the asset in Philippines. ‘The exploration period will allow for the completion of the remaining exploration and environmental work programmes to increase the resource and rework the plan for the underground mining potential at the high-grade Lobo area of the project,’ Bluebird adds.
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DP Aircraft I Ltd - Guernsey-based aircraft leasing company - Revenue in the six months to June 30 falls to $7.6 million from $12.9 million. Swings to pretax profit of $3.0 million from $24.0 million loss. Says provision on straight lining lease asset falls to $1.1 million from $12.5 million.
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Colefax Group PLC - London-based interior designer - Says trading conditions have remained ‘in line with our expectations’. Fabric division sees constant currency sales growth of 1% in US over 21 weeks to September 23. In UK, they are flat. ‘We have just entered our important autumn selling season and as previously reported we are expecting trading conditions to become more challenging in the second half of the year. This is primarily due to a slowdown in housing transactions in the US and the UK. The Group is well placed to deal with these market conditions,’ Chief Executive David Green says.
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Cornish Metals Inc - Vancouver-based mineral exploration company - Loss in six months to July 31 widens to C$3.3 million from C$1.1 million a year earlier. Foreign exchange loss amounts to C$2.2 million, ballooning from C$203,001.
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Van Elle Holdings PLC - Nottinghamshire-based geotechnical engineering contractor - Says revenue since reporting annual results on August 3 has been ‘ahead of management expectations’. Van Elle adds: ‘However, the challenges associated with the industry-wide supply chain and inflationary cost pressures remain prevalent and are expected to persist into the next calendar year. These challenges are being mitigated as far as possible and the board remains confident in achieving full year profitability in line with market expectations.’ Van Elle’s financial year runs to April 30.
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PetroNeft Resources PLC - Russia-focused oil and gas exploration and production company - Last week reports both interim and annual results. In six months to June 30, revenue rises to $3.7 million from $2.5 million a year earlier. Pretax loss narrows to $1.2 million from $1.8 million. For 2021, revenue rises to $29.9 million, from $16.7 million. Pretax loss narrows to $9.9 million from $11.2 million.
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