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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Tasty PLC - London-based casual dining restaurant operator - Says revenue in year ended December 26 amounts to £34.9 million, up 44% from £24.2 million. Revenue reaches 78% of pre-pandemic level of £44.6 million. Expects a swing to adjusted earnings before interest, tax, depreciation and amortisation of £8.0 million, from £2.7 million loss. ‘In addition, there has been a recruitment drive to strengthen the head office team and operational structure. This increase in head count will facilitate a measured expansion plan for a pipeline of five to six new units this year and a refocus on takeaway and delivery which, following the lifting of Covid restrictions, due to employee shortages has once again become secondary to the dine-in trade,’ Tasty adds.
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Synectics PLC - Sheffield, England-based provider of security systems - Awarded ‘substantial long-term contract’ to supply security management software support to National Grid PLC. Total value of contract is confidential but Synectics expects to recognise £600,000 revenue this financial year.
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Blencowe Resources PLC - miner focused on developing the Orom-Cross graphite project in Uganda - Says ‘extensive’ infill drilling programme completed in 2021 to provide updated JORC resource estimate to go towards pre-feasibility study at Orom-Cross. Work is ‘underway’ to delivery the study by the mid-year target date.
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Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Affirms that company and operations in Azerbaijan unaffected by sanctions imposed on Russian state, companies and individuals. ‘The company expects no material impact on its supply chain or operations due to the conflict in Ukraine, but will continue to monitor events on a regular basis,’ Anglo Asian adds.
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Zinnwald Lithium PLC - High Wycombe, England-based mineral exploration and development company - Test work finds production of battery grade lithium hydroxide from zinnwaldite concentrate is economically viable. Test work also confirms Zinnwald lithium project in Germany can produce ‘high-quality by-products’, including potassium sulphate and precipitated calcium carbonate.
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East Star Resources PLC - Kazakhstan-focused gold and copper explorer - Says historical drill results at Eshkilitau II target in Kazakhstan ‘confirm the presence of a high-grade gold system’. Drilling was conducted between 2005 and 2006.
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Harvest Minerals Ltd - Arapua fertiliser project in Brazil - Says accumulated orders for 2022 as of end of February total 30,161 tonnes, up more than eleven-fold compared to internal forecasts. Also represents 20% of 2022 sales target of 150,000. In addition, Harvest says is in ‘well advanced’ stage of planning capacity increase to 200,000.
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NWF Group PLC - Nantwich, England-based agricultural feed, food and fuel distributor - Says strong first half carries over into second half of year ending May 31. Expects annul results to be ‘significantly’ ahead of board expectations. Notes Russia invasion of Ukraine has lifted oil prices. ‘To date, there have been no major supply issues and we continue to meet demand across the country,’ NWF says on its fuels arm. Feed commodity prices have also risen, NWF notes, something that will be ‘more keenly’ felt in summer trading as raw material purchases for winter have already been made.
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Ixico PLC - London-based neuroscience data analytics company - Selected by existing US biotechnology client to provide positron emission tomography, or PET, and magnetic resonance imaging, or MRI, neuroimaging services. Ixico to provide services for a phase I/II dose finding study evaluating a gene-therapy drug candidate in adult subjects with early signs of Huntington’s disease. Pact is worth £800,000 and trial runs for five years.
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Triple Point Social Housing REIT PLC - London-based real estate investment trust - Eyes altering investing policy, following consultation with a number of shareholders, board and investment manager. Also mulling removal of minimum lease term restriction. Proposes change to allow company to take on costs of funding planned maintenance. Triple Point Social would also like to enter into leases which have upward only adjustments, ‘tracking either inflation or central housing benefit policy’. Changes to be proposed at annual general meeting on May 27.
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