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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Fuller, Smith & Turner PLC - London-based chain pub operator - Completes purchase of Lovely Pubs, a collection of seven pubs in Warwickshire, six of which are freehold, for £22.5 million. In the last reported financial year, the group being acquired generated earnings before interest, tax, depreciation and amortisation of £3.1 million. Expects the acquisition to be earnings enhancing in the first full year. The deal is to be funded from existing banking facilities.
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Ramsdens Holdings PLC - Middlesbrough, England-based financial services provider and pawnbroker - Issues trading update for financial year to September 30. Good trading momentum continues into the second half of the financial year to date. This positive performance continues to reflect the strengths of diversified income streams, the ongoing and successful investments made in enhancing the customer proposition, and the high gold price driving a better-than-expected performance in the Precious Metals segment. As a result, expects financial 2024 pretax profit to be at least £11 million, ahead of its previous expectations for £10.5 million.
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Engage XR Holdings PLC - Waterford City, Ireland-based spatial computing and metaverse technology - Provides update on trading for the six months ending June 30. Group revenue grows to €2.2 million from €2.1 million a year prior. Pretax loss is €1.8 million, in line with expectations, and compared to a loss of €2.2 million. Gross margin is 89%, down from 93% a year ago. This is driven by one off hardware purchases for a key customer in early 2024 and not a permanent reduction in gross margin.
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Trinity Exploration & Production - Trinidad & Tobago-focused oil exploration and production firm - Recommends shareholders accept bid proposal from Lease Operators. Believes that the Lease Operators acquisition is a material improvement for shareholders over the Touchstone offer.
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Helium One Global Ltd - Tanzanian-focused producer of low-carbon helium - Successfully re-enters and deepens the ITW-1 well a further 168m into the basement and reaches a new total depth of 1129m measured depth. Chief Executive Lorna Blaisse comments: ‘We are pleased that we have been able to re-enter and deepen the ITW-1 well as planned. It has been very encouraging seeing the helium and hydrogen shows continuing whilst drilling this deeper section, and we look forward to evaluating these results further through the EWT.’
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Petards Group PLC - London-based developer of security and surveillance systems - Says was recently awarded a further order worth over £250,000 for artificial intelligence enabled ANPR cameras. This order had been anticipated and is for the supply, installation, and ongoing support of QRO’s ‘all-in-one’ Harrier AI ANPR camera and is expected to be delivered in the second half of 2024. The award followed successful customer trials.
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Oberon Investments Group PLC - investment management, wealth planning and corporate broking firm - Raises £2.5 million via placing at 3.5 pence each. The Placing is ‘considerably oversubscribed’ and supported by new and existing shareholders. Proceeds to support the expansion of key business divisions to accelerate growth as well as for working capital purposes. Further, says revenue in first quarter of financial 2025 is up over 90% to £2.5 million from £1.3 million a year prior. Each division, from Wealth management, Wealth Planning, Corporate Broking and Private Ventures is growing and growth is expected to continue in financial 2025, with target revenue expanding by more than 30% on a like-for-like basis. Company believes ‘we are beginning to see an upturn in the market which will positively impact all divisions.’
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Aterian PLC - Africa-focused exploration and development company - Says maiden Moroccan scout drilling programme is to commence imminently at the 100% owned Agdz copper-silver project. The project, covering 34.5 km square, is located within the eastern Anti-Atlas mountains of Morocco.
‘We anticipate approximately ten scout holes, with depths of 100 to 120m, utilising RC drilling. We are especially excited to advance the status of our projects in Morocco and to begin drilling at Agdz. We are presently in the process of rationalising and prioritising our projects in the country with the aim to advance additional projects to the drilling stage,’ company says.
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