The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Aura Energy Ltd - clean energy minerals exploration company focused on the development of the Tiris uranium project in Mauritania - Provides update on recently announced restructuring of its offtake agreement with uranium trader Curzon Uranium Ltd. The amendments ‘materially increased the price receivable for planned uranium production’ from the Tiris project. Says the new agreement improves the project’s NPV by $22 million to $388 million, and increases the IRR by 2% to 36%. Curzon Uranium will receive the A$5.4 million or $3.5 million restructuring fee in Aura shares worth 18 Australian cents each. It will also take a $3.5 million placement of Aura shares at the same price.
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Light Science Technologies Holdings - Derbyshire, England-based agricultural lighting and monitoring systems provider - Signs exclusive distribution agreement with agricultural automation provider AgriLogiq Technical Systems (Pty) Ltd, to sell its nurturGROW lights in South Africa. Deal covers an initial five-year period and exclusivity is subject to the meeting of certain performance targets. Company says further distribution deals are in the works ‘in other strategic high-growth geographies’. Notes that ‘there is strong demand for innovative farming solutions’ in South Africa.
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Water Intelligence PLC - London-based leak detection services company - Announces reacquisition of its franchise in Fresno, California for $2.9 million in cash spread over two years, with the first $2.0 million payable immediately. Says the deal ‘reinforces the group’s strategy of establishing regional corporate hubs in the US that fuel growth in adjacent franchise locations’. Also announces sale of a new franchise for Albany and Saratoga, New York. Both are within its American Leak Detection subsidiary. Upfront consideration is around $100,000, and ALD expects to receive royalty income from sales starting in July.
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Eckoh PLC - London-based provider of secure payment and customer contact products - Says it expects to report revenue of around £37.2 million for the year to March 31, ‘slightly behind market expectations’ and down from £38.8 million the year before. This is due to ‘the ongoing transition of client deployments to the cloud, the first contract renewals of several large on-premise US clients...and the elongated sales cycles that delayed the closing of contracts in H1’. Expects however to report adjusted operating profit of about £8.3 million, ‘marginally ahead’ of market consensus and up from £7.7 million. Also, recurring revenue has increased. Says its operating margin and cash generation improved due to ‘the higher proportion of cloud-based SaaS revenues and ongoing cost efficiency’. Total contracted business surged by over 50% to ‘a record level’ of £52.6 million. Eckoh expects to announce results on June 11.
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Frontier Developments PLC - Cambridge, England-based video games developer and publisher - Signs licence with Universal Products & Experiences for a third Jurassic World game, following ‘the major success of Jurassic World Evolution and Jurassic World Evolution 2’ in 2018 and 2021. Says the new game is scheduled for release on July 2 2025. Adds that the first two games rank first and second within its game portfolio in terms of revenue generated in their first two years. Plans to release three new creative management simulation or CMS game over the next three years, with one own-IP game in development for a financial 2025 release and a third unannounced title planned for financial 2027.
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Clarkson PLC - London-based provider of shipping services - Says all resolutions were passed at annual general meeting on Thursday, but that three resolutions had significant minorities voting against. These were to approve the directors’ remuneration report with 57.43% in favour; to approve the re-election of Chair Laurence Hollingworth with 78.27%; and to approve the re-election of Independent Non-Executive Director Tim Miller with 61.95%. Company did not indicate any possible reasons for this, saying: ‘We appreciate the support from most of our shareholders and will continue our engagement over the year ahead.’
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