The following is a round-up of trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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CVS Group PLC - Norfolk-based veterinary services firm - Like-for-like sales for financial year to June 30 up 8.0%, compared to 17% the year before against a Covid-19 impacted comparator. Expects adjusted earnings before interest, tax, depreciation and amortisation to be marginally ahead of market expectations, following effective management of costs. Completes three acquisitions in the second half, with ‘an increased pipeline of opportunities,’ it notes. Expects adjusted Ebitda margin to be in line with prior year. ‘Whilst the board is mindful of inflationary pressures and the wider economic backdrop, the group is very well-placed for further growth in FY23,’ CVS says.
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Yellow Cake PLC - Jersey-based investor in uranium - Says estimated net asset value of £4.34 per share at June 30. Delivers 2.97 million pounds of uranium in quarter ended June 30, ‘unaffected by the geopolitical events in Ukraine,’ it notes. Expects worldwide uranium market over July-September to be impacted by global economic factors and any change in Russia-Ukraine geopolitical situation. Says spot market demand remains subdued compared to ‘record-setting’ activity in 2021.
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SolGold PLC - Brisbane, Australia-based developer of copper-gold deposits in Ecuador - Investigates a number of strategic initiatives to provide the firm with funding options for Cascabel project development, including a potential equity raise. Says raised funds would finance the completion of the Cascabel definitive feasibility study, regional exploration and general corporate purposes through to the second half of 2023. Targets net present value uplift of about $1.0 billion to $1.8 billion at Cascabel. Cash amounts to $26 million as at June 30.
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Ceres Power Holdings PLC - Horsham, West Sussex-based solid oxide fuel cell developer - Posts expected revenue and other operating income for six months ended June 30 of £10 million, down from £17.4 million a year earlier, with completion of the China joint venture contracts with Bosch and Weichai and associated licence fees expected to fall in the second half of 2022. Cash amounts to about £221 million as at June 30. Expects high proportion of licence fee revenue recognition to be booked in second half, with associated high gross margin.
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Mortgage Advice Bureau Holdings PLC - Derby, England-based mortgage advice provider - Posts revenue of £95 million for six months ended June 30, up 3% from £92 million a year earlier. Says ‘mortgage completions had been considerably boosted by the stamp duty holiday changes at the end of March and June 2021.’ Expects adjusted pretax profit for 2022 to be in line with market expectations. Expects transaction levels to remain healthy despite slight decrease in consumer demand over coming months.
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