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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Smarttech247 Group PLC - Cork, Ireland-based artificial intelligence-enhanced cybersecurity services provider - Secures three-year new contract with ‘global packaging company’. Deal is worth €1 million over the tenure. ‘The agreement, with a new client, utilises both Smarttech247’s VisionX platform as well as NoPhish, underscoring their versatility and advanced capabilities,’ the firm says. VisionX is its ‘AI-enhanced’ managed detection and response platform. It adds: ‘The VisionX MDR platform leverages sophisticated AI and machine learning algorithms to offer real-time threat detection, rapid incident response, and continuous monitoring whilst NoPhish takes proactive measures by automatically removing emails from the user’s inbox which are deemed suspicious or malicious.’
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Beeks Financial Cloud Group PLC - Renfrew, Scotland-based cloud computing and connectivity provider - Says Johannesburg Stock Exchange signs ‘significant contract extension’ for provision of Beeks Financial’s Exchange Cloud offering. Beeks adds: ‘The exchange has signed a significant contract extension to meet stronger than anticipated customer demand for the solution and a significant pipeline. As a result, revenue expectations from the initial term of the contract have materially increased, further supporting the recently upwards revised board expectations for FY25.’
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Mercia Asset Management PLC - asset manager focused on small and medium-sized enterprises - Seals syndicated funding rounds into three existing direct investments, as it says its ‘significant liquidity’ allows it to ‘continue selectively supporting the existing portfolio’s growth ambitions’ without the need for additional syndicated co-investment. The investments include £1.2 million into MIP Discovery Ltd as part of a £7.1 million syndicated funding round, £2.5 million into Locate Bio Ltd as part of a £8.4 million round and £2.0 million in Warwick Acoustics Ltd as part of a £6.9 million round. MIP is a developer of non-biological affinity reagents focused on cell and gene therapies, Locate Bio is an orthobiologics company and Warwick Acoustics designs audio systems.
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Eneraqua Technologies PLC - energy and water efficiency solutions provider - Expects revenue for year ended January 31 of £54 million, down from £55.1 million. Expects adjusted pretax loss of £6.0 million, an outcome that would be in line with consensus, but swinging from profit of £10.1 million. ‘Across the group, we are seeing increasing demand for our energy and water solutions as both central and local government recognise the broader benefits of our solutions and the well documented inflationary impacts on our customers subside,’ it says. Also says Chief Financial Officer Iain Richardson to leave role on May 31. Will be replaced by his ‘deputy’, Financial Controller James Lamb, on an interim basis until permanent successor found. Richardson leaves by ‘mutual agreement’, the firm adds.
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Ceres Power Holdings PLC - clean energy technology developer based in West Sussex - Delays its annual results. They had been scheduled for next week Wednesday, but will instead arrive at a soon-to-be announced revised date. Ceres says its auditor BDO needs more time. Ceres says it will make ‘adjustments that principally relate to the timing of recognition of revenue from long term contracts’. This will mean revenue will get a ‘modest’ lift relative to its prior £21 million to £22 million outlook. It trims revenue from prior years, however.
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Gem Diamonds Ltd - diamond miner which has operations in Lesotho and Botswana - Revenue falls 26% to $140.3 million in 2023 from $188.9 million in 2022. Pretax profit plunges 81% to $5.7 million from $30.4 million. Says tough economic conditions ‘significantly impacted rough and polished diamond prices’. However, it is ‘cautiously optimistic that prices will stabilise’, before seeing some growth towards the end of this year.
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Capital Ltd - mining services firm with contracts with operators including Centamin PLC, Barrick Gold Corp and Anglogold Ashanti PLC - Says revenue in 2023 is below the guidance range of $320 million to $340 million, amid a ‘number of headwinds’. It reports ‘subdued activity’ in Mali and notes operations were suspended in Sudan with Perseus Mining Ltd. Revenue in 2023 rises 9.7% to $318.4 million from $290.3 million. Pretax profit rises 56% to $50.3 million from $32.6 million. Revenue guidance for 2024 rages from $355 million to $375 million. ‘Tendering activity remains robust across the group with a number of high-quality opportunities progressing,’ it adds.
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Abingdon Health PLC - York, England-based lateral flow test contract development and manufacturing company - Revenue in the six months to December 31 rises to £2.4 million from £1.1 million a year prior. Its pretax loss narrows to £1.2 million from £2.4 million. It expects ‘material revenue growth’ for the full-year.
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