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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Atalaya Mining PLC - mining company focused on Spain - Pretax profit in 2021 surges to €159.8 million from €31.7 million in 2020. Revenue rises 60% to €405.7 million from €252.8 million. Sees record copper production at 56,097 tonnes, up from 55,890 tonnes a year before. Pays inaugural dividend of $0.395 per share. Maintains 2022 production guidance of 54,000 to 56,000 tonnes of copper.
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US Solar Fund PLC - owns and operates solar power assets in North America - 2021 pretax profit jumps to $15.0 million from $3.7 million in 2020. Total income rises to $18.8 million from $6.5 million. Declares dividend of 1.50 US cents per share, up from 0.50 cents. Total annual payout rises to 5.5 cents from 2.0 cents. ‘Despite the volatility and inflationary pressures in the broader markets, USF continues to deliver steady cash flows given its long-term power purchase agreements held by the portfolio of high-quality US solar projects. We are also pleased to have continued growing the portfolio, increasing capacity by 100 mega watts over the last year,’ company says.
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Arbuthnot Banking Group PLC - London-based private and commercial lender - Swings to pretax profit of £4.6 million in 2021 from £1.1 million loss a year before. Net interest income rises 10% to £64.1 million from £58.1 million. ‘The group made good progress in 2021, returning to growth and restoring profitability, notwithstanding the ultra-low interest rate environment prevailing in the period,’ Chief Executive & Chair Henry Angest says. Revives final dividend of 22p per share, bringing the total annual payout to 38p per share compared to nothing the year before. The company also declared a special dividend in the year to replace a dividend cancelled in 2019, which was for 16p per share. ‘It appears that given the success of the vaccination programme, the economy is returning to sustained growth. However, in addition to the situation in Ukraine, the macro-economic outlook appears to have several headwinds, the most significant being the rising rate of inflation. This is currently being caused by supply side factors but could migrate to a wage inflation cycle, which may become even more serious. The Bank of England’s response of raising interest rates will have a beneficial impact on the Bank’s revenues in the short to medium term,’ company says.
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Big Technologies PLC - UK-based remote people monitoring technology - Posts pretax profit of £13.7 million in 2021, up 7.9% from £12.7 million in 2020. Revenue jumped 27% to £37.6 million from £29.6 million. Does not declare any dividends for year, unchanged from 2020. ‘The group is well positioned, with adequate financial resources in place to continue supporting our customers with more advanced technologies and solutions and to take advantage of the value-enhancing opportunities that we expect to materialise in the years ahead,’ company says. ‘We expect the growth to continue at a similar level over the next 12 months. As a result of our initial public offering in July 2021, we can now demonstrate to our customers that we have the financial resources to continue to increase our investment in our market-leading technology solutions and grow our footprint both organically and through acquisition,’ CEO Sara Murray says.
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PipeHawk PLC - provider of technology solutions to highways, automotive, rail and aerospace industries - Posts pretax loss of £457,000 in six months to December 31, widened from £336,000 a year prior. Revenue rises 23% to £3.2 million from £2.6 million. General administrative expenses increase 42% to £1.7 million from £1.2 million. ‘This has been an extremely challenging six months following the removal of the UK government furlough support coupled with employee absences as a result of ongoing variants of Covid-19, delays caused by material shortages, much longer supply lead times and increased costs, all of which have caused operational inefficiencies and uncertainty with existing and potential clients such that expected orders have been delayed or deferred,’ company says. Company does not declare any dividend for the half year, unchanged from the year before. Says the level of interest evidenced by its current sales discussions positions the company ‘very well’ for the future.
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Biome Technologies PLC - Southampton-based plastic material and resin manufacturing company - Posts pretax loss of £1.2 million in 2021, narrowed from £1.7 million in 2020. Revenue flat at £5.7 million. Cost of goods sold falls to £3.8 million from £4.0 million. ‘Despite the challenging frustrations of 2021 we believe the Group has good opportunities for growth in the current year,’ company says. Adds that trading in the first quarter of 2022 has been in line with expectations and the outlook for the year remains unchanged.
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Contango Holdings PLC - natural resource development company with operations in Africa - Posts pretax loss of £636,398 in six months to November 30, narrowed from £1.1 million a year prior. This comes as Administrative fees & other expenses narrowed the same amount, as the company does not post any revenue. ‘Contango is now at a real turning point as we make the final preparations on site at Lubu ahead of first production later this month, and as we continue our strategic negotiations with potential investors to support the development of Garalo-Ntiela. With our attention focussed firmly on commercialising these two significant assets, we are delivering on our over-arching objective to deliver cash flow in a short timeframe to support the long-term expansion of the company and its portfolio. 2022 is set to be a pivotal year and I look forward to delivering updates on our progress throughout the year,’ CEO Carl Esprey says.
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Sopheon PLC - enterprise software provider - Reports pretax profit of $1.2 million in 2021, down from $1.7 million a year prior. Revenue rises 15% to $34.4 million from $30.0 million. ‘2021 was a year of new leadership, new processes, new programs, and extensive organizational change, together with solid financial outcomes and an initial acquisition. With the initiation of change behind us and the organizational structure and leadership in place, 2022 is very much focused on accelerating and operationalizing the effectiveness of this change. I believe that the future is bright for Sopheon,’ says Chair Andy Michuda.
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GCP Asset Backed Income Fund Ltd - UK asset backed loan investor - December 31 net asset value per share at 99.29 pence, down 2.8% from 102.18p a year before. Increases its total annual payout to 6.30p from 6.225p. New and follow‑on loans of £135.5 million were advanced by the company during 2021, secured against 35 projects with a further £16.6 million secured against five projects, advanced post year end. Says the year has proved challenging for the company with the default of one of its largest loans. ‘Headwinds in the economic environment could increase operational costs for some assets in the portfolio. However, we also recognise the opportunities presented by an inflationary environment and are working closely with our borrower management teams to identify where we can support them,’ company says. Despite challenges, company says it is well placed for the year ahead.
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Kin & Carta PLC - London-based consultancy company - Posts pretax loss of £3.1 million in six months to January 31, narrowed from £5.9 million a year prior. Revenue falls 35% to £89.3 million from £137.3 million. Administrative expenses almost cut in half to £24.0 million from £42.7 million, while the amortisation of acquired intangibles narrows to £2.9 million from GBp7.5 million. Does not declare an interim dividend, unchanged from the year before. ‘Momentum is continuing with strong organic revenue growth and a record £106 million backlog of orders, setting us up for an even better second half,’ company says.
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Ocean Wilsons Holdings Ltd - Bermudian investment company with subsidiary providing maritime services in Brazil - December 31 implied NAV per share rises 15% to £15.95 from £13.89 a year prior. Pretax profit for 2021 rises 48% to £110.4 million from $74.6 million a year prior. Sales of services increase 12% to $396.4 million from $352.8 million a year prior. Leaves final dividend unchanged at 70 US cents per share. ‘We are ensuring that the funds we invest in are, and remain, compliant with sanctions being imposed on Russia. We continue to be alert and cautious in our approach to minimize overreaction and maintain our disciplined approach to focus on the portfolio’s objective of long-term sustainable capital growth,’ company says.
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