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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Polarean Imaging PLC - London-based medical imaging technology developer - In the first half of 2023, revenue plunges by 83% to $142,384 from $834,087 a year before, as pretax loss widens to $7.4 million from $6.9 million. Chief Executive Officer Christopher von Jako says he is confident of product demand, but withdraws previously stated commercial targets, citing his experience that ‘early sales are often irregular and difficult to forecast’ during the commercialisation process. ‘While I am confident in the demand for our product and its ability to gain commercial traction, we feel it is sensible to withdraw the previously stated commercial targets at this time. We will, however, be providing renewed guidance at a suitable time,’ he says.
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Chill Brands Group PLC - Colorado, US-based CBD products company - Says UK sales operations began in August, with sales to an initial 120 outlets. Notes an increase in e-commerce website traffic, citing the start of online vape sales. Says US pilot stores demonstrating product sell-through, and adds US vapour products range has been expanded to include between 1,500 and 3,000 devices.
Chief Executive Officer Callum Sommerton says: ‘The Chill Zero range of nicotine-free vape products is off to a great start. A successful entry into the UK and positive results from our US pilot stores reaffirm that this is a category with significant growth potential.’
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Jaywing PLC - Sheffield-based data-driven advertising and marketing agency - Says for the year ended March 31, revenue fell by 5.2% to £22.1 million from £23.3 million a year prior, driven by weaker demand in the UK. Notes, however, demand in Australia has continued to grow, though at a slower rate than in financial 2022. Adds loss before tax widened to £12.5 million from £6.7 million the year before. Cites a goodwill impairment of £12.1 million. Looking ahead, expects ‘significant new business wins’ in Australia to provide strong revenue and profit growth.
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Jadestone Energy PLC - Asia-Pacific-focused oil and gas firm progresses repairs at its Montara Venture floating production, storage and offloading vessel - Says production at Montara floating production storage and offloading vessel offshore Australia restarted on September 1. Says initial production averaged around 1,000 barrels per day from one well, while the FPSO’s oil production and gas compression systems were recommissioned. Adds Ballast water tank 4P has returned to service following the completion of inspections. Says it will now use a smaller and lower cost shuttle tanker to provide additional storage for when the FPSO is constrained.
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Touchstar PLC - Glasgow, Scotland-based supplier of mobile data computing solutions and managed services to a variety of industrial sectors - Pretax profit in the six months ended June 30 multiplies to £307,000 from £104,000 the year before, as revenue rises by 19% to £3.7 million from £3.1 million a year prior. Proposes an interim dividend of 1.0 pence from no dividend the year prior. Adds order book and trading momentum underpins 2023 performance, adding its full-year expectations remain unchanged.
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De La Rue PLC - Security products maker - Says operating profit guidance for its full-year ending March 25 remains unchanged in the low £20 million range. Also expects net debt level at full and half year to meet forecast of £100 million.
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CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Says Chile subsidiaries, Atacama Salt Lakes SpA and Laguna Negro Francisco SpA have applied for special lithium operation contracts to advance lithium production in Chile. Says applications are for Laguna Verde and the Francisco Basin projects.
Chief Executive Officer Aldo Boitano says: ‘We are the first company in Chile to apply for the operating contracts since the National Lithium Strategy was announced in April 2023. We believe this marks a major step towards advancing lithium supply from Chile to the global battery manufacturing and electric vehicle market.’
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