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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Ethernity Networks Ltd - Israel-based supplier of data processing semiconductor technology for networking appliances - Secures supply of components needed to fulfil contracted orders and deliveries as per the contracts signed for the current year. Development follows discussions with field programmable gate arrays supplier. ‘The secured supply of components will enable the company to generate revenues of $3.3 million in the current financial year, which equals almost 80% of the pipeline from these contracts in the current financial year,’ company says. ‘Ethernity plans to continue working with new customers and with the existing customer to secure and deliver beyond this amount for the current financial year.’
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Billington Holdings PLC - Barnsley, England-based company focused on structural steel and engineering - Says 2023 starts ‘positively’, with company trading in line with market expectations. Non-Executive Chair Ian Lawson says: ‘Despite the continuing macroeconomic headwinds, the opportunities the group are seeing in its targeted sectors remain buoyant, providing optimism for the later part of 2023 and into 2024. We have a robust business with significant momentum and I remain confident in the group’s prospects for the medium and long term.’
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Property Franchise Group PLC - Bournemouth, Dorset-based lettings and estate agency franchising - Revenue in first four months of 2023 unchanged year-on-year. ‘Whilst the broader market remains uncertain, the board expects this to present opportunities that the group’s robust balance sheet will allow it to explore. Overall, the board continues to remain confident in achieving expectations for the full financial year,’ Non-Executive Chair Paul Latham says.
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Great Southern Copper PLC - Chile-focused copper-gold exploration company - Begins high-resolution aeromagnetic surveys at Especularita project in Chile. ‘The company plans to complete two magnetic surveys covering each of its Teresita and Victoria prospects where recent exploration has identified outcropping high-grade [copper-gold] mineralisation,’ Great Southern says. ‘The company anticipates that the survey will be completed within three-to-four weeks. Additional processing and interpretation of the data by ExploreGeo of Perth, Australia, is estimated to be completed within a further four-to-six weeks subject to availability of consultants.’ Expects zones of potential mineralisation to be visible in study. Data will be used to ‘support our drill targeting for the scout drilling programmes planned for later in the year’, Chief Executive Officer Sam Garrett says.
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Argo Blockchain PLC - London-based cryptocurrency miner - Reports revenue of $11.4 million in first-quarter of 2023, down 41% from $19.5 million a year prior. Swings to pretax loss of $8.7 million from profit of $1.9 million
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Schroders Capital Global Innovation Trust PLC - focused on a diversified portfolio of global private and public equity companies - Announces a $1.7 million investment in Carmot Therapeutics Inc as part of its series E financing round. Carmot is a US-based clinical stage biopharmaceutical firm focused on disease-modifying therapies for metabolic diseases. Utilising a pioneering drug discovery platform called Chemotype Evolution, Carmot identifies novel drug targets and develops a broad pipeline of experimental therapeutics with the aim of treating patients suffering from metabolic diseases, including obesity and diabetes,‘ Schroder Capital explains.
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Macaulay Capital PLC - investment company - Raises £940,000 to be invested in Kelda Showers Ltd. Kelda is developer of water and energy-saving solution to the shower market.
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