The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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ECO Animal Health Group PLC - London-based animal health company with a portfolio of marketed veterinary products - Says its Ecovaxxin vaccine demonstrates a favourable risk profile. Ecovaxxin is a new live vaccine against mycoplasma synoviae in poultry, which can cause respiratory disease in chickens. Says that this is a step closer to approval by the United States Department of Agriculture after internal risk assessments demonstrated that the vaccine does not revert to virulence. Says it is working closely with the USDA to obtain a licence for its vaccine and to gain authorization to import and distribute the product in the US. Targets the launch of Ecovaxxin in the US from late 2025. Chief Executive Officer David Hallas says: ‘Eco is focused on building a robust and long-lasting [research &d development] pipeline, and providing the poultry industry with a safe and effective new vaccine against Mycoplasma synoviae is a key element of this...This risk assessment demonstrates that Eco can meet the robust safety threshold set out by the USDA and shows that we are taking the right steps towards obtaining a critical US licence.’
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XP Factory PLC - Crawley, England-based entertainment company, which operates under the Boom Battle Bar and Escape Hunt brands - Says group turnover in the 15 months to March 31 has doubled to £57.8 million from £22.8 million the year before. Reports strong like-for-like sales in the first quarter of 2024, with its Boom Battle Bar business contributing sales of around £36.5 million. As for Escape Hunt, LFL sales in the quarter were around £17 million. CEO Richard Harpham says: ‘The group’s continued strong performance in the final three months of the financial year culminates a period of exceptional growth and development within the business. Trading in April has continued the positive momentum. Our investments into new sites are generating industry leading returns, setting the business well to generate growth in shareholder value, and providing the blueprint to continue our expansion.’
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HydrogenOne Capital Growth PLC - a fund investing in clean hydrogen companies - Says net asset value per share at March 31 is 103.56 pence, up 0.6% from 102.99p at December 31. Sees continued revenue growth from private portfolio companies, delivering an aggregate £81 million in total revenue in the financial year ended March 31.
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Block Energy PLC - Resource exploration and production company focused on Georgia - Announces a memorandum of understanding with JSC Rustavi Azot, a subsidiary of Indorama Corporation Pte Ltd, to develop the carbon capture and storage opportunity identified within Block’s Patardzeuli-Samgori Middle Eocene reservoir. Says that the MoU is non-exclusive, and has a duration of one year from May 7, 2024. CEO Paul Haywood says: ‘We’re delighted to enter into an MoU with Rustavi Azot, and now look forward to forming technical and commercial teams to progress this highly prospective CCS project.’
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Deltex Medical Group PLC - Chichester, England-based company, which manufactures blood circulation monitoring systems - Ahead of its annual general meeting on Wednesday, Chair Nigel Keen says that the company is making good progress with the launch of its TrueVue monitor in the UK and European Union. Says that the outlook for the rest of the year remains positive.
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Plant Health Care PLC - Maker of biological, agricultural products - Says revenue in 2023 fell to $11.2 million from $11.8 million in 2022. In the first four months of 2024, however, revenue rises 72% to $4.3 million from $2.5 million a year earlier, boosted by sales to US distributors. Revenue outside the US grew by 23% in 2023. Loss before interest, tax, depreciation and amortisation in 2023 narrows to $2.8 million from $3.5 million in 2022, while it expects further improvement during 2024. CEO Jeff Tweedy comments: ‘As we grow the company’s profitable revenue, we are taking appropriate steps to control all discretionary costs and to live within our means, becoming cash positive on the earliest possible timescale.’
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