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:


Alliance Pharma PLC - Chippenham, England-based distributor of consumer healthcare brands and prescription medicines - For 2022, notes see-through revenue £172.0 million, in line with its trading update from November and up from £169.6 million in 2021. Consumer healthcare revenue increases to £125.2 million in 2022, up from £121.8 million. Anticipates 2022 underlying pretax profit ‘slightly above’ £30 million, compared to £42.2 million in 2021. Chief Financial Officer Andrew Franklin says: ‘We are starting to see the benefits of our investment in innovation and development. Kelocote Kids Gel had a successful launch in China in 2022 and will be introduced in the UK and Germany this year, whilst Canker-X, part of the Aloclair brand franchise, was launched in the US this month and is already being sold through Walgreens [Boots Alliance Inc] and RiteAid [Corp].’


Cooks Coffee Co Ltd - New Zealand-based coffee chain - Records sales growth of 41% in UK during 2022 versus 2021, while sales in Ireland jump 91%. Sites in UK and Ireland as at December 31, 2022 increase to 85, up slightly from 82 a year prior. The company will release its results for the financial year 2023 to March 31 by the end of June. Executive Chair Keith Jackson says: ‘These cafe sales results highlight the resurgence and growth of the business and in this instance surpass those published by other industry leaders.’


Corero Network Security PLC - Amersham, Buckinghamshire-based distributed denial of service cyber defence solutions - Order intake in 2022 rises by 13% to $23.9 million from $21.2 million in 2021. Annualised recurring revenue grows 13% to $14.4 million from $12.8 million. Expects adjusted earnings before interest, tax, depreciation and amortisation to fall to a range of $1.4 million to $1.8 million, from $3.9 million a year prior. Cash as at December 31 falls by 50% to $5.6 million from $11.2 million a year ago. Looking ahead, Chief Executive Lionel Chmilewsky says: ‘Encouragingly, we start 2023 with a solid pipeline of new business opportunities. Our focus for 2023 is to leverage our investment in sales and marketing and capitalise on our market-leading SmartWall solutions and SecureWatch services to drive revenue growth.’


Egdon Resources PLC - Gloucestershire, England-based energy exploration and production company - Announces Wressle cumulative oil production more than 341,100 barrels from August 2022 to January 12. Reports a production rate of approximately 825 to 850 barrels of oil per day at Wressle, up from 700 to 725 bopd reported in November. Says August to December revenue was £3.1 million, up from £2.1 million a year prior. Three microturbines have been delivered to the Wressle site, with installation and commissioning ongoing. Further, notes that 3D seismic reprocessing has been completed at Wressle site, as planning and permitting for Penistone Flags development has begun. Plans drilling of Penistone Flags for the second half of 2023. Europa Oil & Gas Holdings PLC, a UK and Ireland focused oil and gas exploration, development and production, and Union Jack Oil PLC, a Bath, England-based oil and gas company, note Egdon’s announcement.


Genel Energy PLC - Oil company with exploration and production operations in northern Iraq - Reports lower oil production in 2022 as brent oil price jumps. 2022 net production falls to 30,150 barrels of oil per day, from 31,710 in 2021. In 2022, Genel’s brent oil price surges 42% to $101 per barrel from $71 in 2021. 2022 cash proceeds received from the Kurdistan regional government rise by 68% to $473 million, up from $281 million in 2021. Free cash flow jumps to $233 million from $86 million. Expects 2023 production of 27,000 to 29,000 bopd, down from 30,150 in 2022. Expects an expenditure of up to $25 million in Somaliland in 2023. The company anticipates to release its 2022 results on March 22.


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