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TRADING UPDATES: Byotrol interim sales flat; Argo loss narrows

14th Nov 2023 14:21

(Alliance News) - 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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Byotrol PLC - Chester, England-based manufacturer of biocidal and antimicrobial cleaning products - Says in the six months to September 30, product sales were flat year-on-year at GBP2 million, due to the impact of discontinued items. Expects an earnings before interest, tax, depreciation and amortisation loss of GBP450,000, widened from a loss of GBP300,000 in the six months to September 30, 2022. Looking ahead, expects to report product sales for the full year ending March 31, 2024 of approximately GBP3.9 million, up 5.4% from GBP3.7 million a year before on a like-for-like basis. Also announces the launch of new Processus instrument decontamination system. Interim Chief Executive Officer David Traynor says: "The launch of Byotrol's new Processus Instrument Decontamination System demonstrates another step forward in our plans to future-proof our portfolio for EU and UK [Business Property Relief] regulatory approvals. It is the third in a series of strategic portfolio updates, which strengthens our offering in both animal health and human health markets."

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First Class Metals PLC - Blackburn, England-based exploration company focused on projects in Ontario, Canada - Says initial channel results from Roy prospect in Canada are "encouraging". Says initial results from Roy include 18.8 grams per tonne of gold. Chief Executive Officer Marc Sale says: "The initial channel results from Roy are encouraging to the extent of justifying the expansion of the Sunbeam property to included inferred structural extensions, emphasising the district scale potential of the area. The mineralised structures identified on the property, historically exploited at Sunbeam, Roy and Pettigrew continue to provide tangible encouragement to develop the property towards drilling."

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Argo Blockchain PLC - London-headquartered cryptocurrency mining company - Says pretax loss in third quarter of the year narrows to USD9.9 million from USD18.0 million a year prior. Says revenue falls 21% to USD10.4 million from USD13.1 million the year before. Operating costs and expenses in the quarter fell 73% to USD3.1 million from USD11.5 million a year ago.

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Corero Network Security PLC - London-based cybersecurity provider - Appoints Carl Herberger as chief executive officer designate with immediate effect. Herberger is the current Principal Security Consultant at Verinext Solutions, and served as chief product officer at CyberSheath Services International LLC for three years prior to that. His appointment comes after CEO Lionel Chmilewsky announced his resignation from the company back in February and officially departed in May. Executive Chair Jens Montanana says: "I am delighted to welcome Carl Herberger to Corero as our new CEO following an extensive search process. Carl's considerable experience within the cybersecurity sector, with directly relevant DDoS experience, and beyond will further enhance Corero's go-to-market strategy as we continue to grow and develop our presence in the US and other key international markets."

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Fintel PLC - Huddersfield, England-based technology and support provider for the retail financial services sector - Completes acquisition of VouchedFor for GBP7.5 million as well as AKG by Defaqto for GBP1.6 million. VouchedFor is a review site for financial advisers, mortgage advisers, solicitors and accountants. AKG is financial information, ratings and fintech provider. Says VouchedFor and AKG mark the third and fourth acquisitions made this year and are in line with Fintel's strategy to improve the retail financial services market. Looking ahead, continues to deliver "resilient earnings in line with board and market expectations." Chief Executive Officer Matt Timmins says: "Our positive trading momentum has continued into the second half, with continued growth in SaaS and Subscriptions revenues, supported by our resilient, diversified revenue base... We continue to deliver growth organically and make progress consolidating the fragmented software market, providing efficiencies for advisers and creating better outcomes for all participants. With a strong M&A pipeline, underpinned by our balance sheet and cash position, we are confident in making further strategic progress."

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Time Out Group PLC - London-based media and hospitality firm - Confirms that Matthew Pritchard has joined as chief financial officer, effective immediately. Says he has over 25 years of experience in retail and fast-moving consumer goods, having served as CFO for Hotel Chocolat PLC for nine years. He will be replacing Patrick Foley, who has been CFO for Time Out since September last year.

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By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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