1st Oct 2024 17:30
(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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Character Group PLC - Surrey-based toy, games and giftware company - Expects adjusted pretax profit for year ended August 31 in line with market expectations. Says this is despite "higher cost of living, the surge in freight costs and shipping delays due to reduced capacity". "Initial sales of products for the Christmas '24 season are showing encouraging signs, especially new introductions. Previews of our 2025 new ranges are also going well," Character adds.
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Iomart Group PLC - cloud computing and IT managed services provider based in Glasgow, Scotland - Expects to report profit decline for first half ended September 30. Adjusted earnings before interest, tax, depreciation, and amortisation expected to decline to GBP17 million from GBP18.6 million a year prior. Adjusted pretax profit of GBP4.5 million is expected, down from GBP7.6 million. Flat revenue of GBP62 million is expected. "Action has been taken to address some of the profitability trends experienced, including cost efficiency and integration programmes which will benefit H2 and onwards. These programmes will now be assessed within the context of the enlarged group following the Atech acquisition, including the opportunity that a captive offshore operation in India provides," Iomart adds. Expects results for year ending March 31 to be "below market expectations". Puts adjusted pretax profit consensus at GBP14.4 million to GBP16.0 million range, and revenue consensus in range of GBP131 million to GBP133.4 million. In addition, Iomart says it has agreed deal to acquire Kookaburra Topco Ltd, the holding company of Atech Support Ltd, for GBP57 million. Last week Wednesday, Iomart said it was in talks for a deal to acquire Atech, which is a Microsoft solutions partner for mid-sized enterprises. The deal is being funded through existing cash and banking facilities.
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Skillcast Group PLC - London-based digital compliance content and technology provider - Launches CoreCompliance offering, a training scheme for small businesses, "particularly those in financial services". "This turnkey portal delivers essential compliance training, assessments and monitoring tools to help businesses ensure that their staff stay compliant with ever-evolving regulations. It replaces the Skillcast Basic Plan and offers more courses, knowledge checks, and other features," Skillcast says.
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SpaceandPeople PLC - Glasgow-based provider of promotional and short-term retail space - Contract with Network Rail, British railway infrastructure manager, has been completed. The five-year pact, until end of September 2029, ensures SpaceandPeople has "exclusive rights for exhibitions, events, promotions and sampling across NR's managed station estate".
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Petro Matad Ltd - petroleum exploration, development and production company, focused on projects in Mongolia - Says Heron-2 well reaches total depth of 2,908 metres, "seven days ahead of schedule". In addition, an oil zone of 18 metres worth of "gross thickness" was encountered. "Oil and gas shows were observed from the top of the formation and an 18m thick interval of sandstone was penetrated in a similar stratigraphic position to the sandstone in Heron-1 that flowed good oil rates on well test," the firm says. Earlier in September, the firm said its pretax loss in six months to June 30 stretched to USSD2.6 million from USD1.9 million a year prior. Revenue amounted to USD102,000, falling from USD141,000.
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i3 Energy PLC - oil and gas company, which has assets in the UK and Canada - Says UK North Sea Transition Authority extends second term of P2358 licence for period of 18 months. Licence now ends on March 31 of 2026. "The third term of the licence is reduced by the same time-period. The area of the licence has been reduced to encompass the Serenity field only," i3 says.
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Panther Metals PLC - developing critical minerals projects in Ontario, Canada - Says now holdings 18.2 million shares in Sydney-listed Panther Metals Ltd, a 7.7% stake. This follows recent fundraise by the Sydney-listed investee and sale of GBP9,954 worth of shares in Panther Metals Ltd by Panther Metals PLC. On Monday, London-listed Panther reported a swing to a pretax loss of GBP967,902 in the six months to June 30, from GBP792,012 a year prior. No revenue was recorded in either period. Earlier last month, the firm announced the termination of a Manitou Lakes option agreement. Panther said the asset was a "potentially highly prospective early-stage gold project" but it would be "unduly isolated" in its portfolio if a deal occurred. Panther Chief Executive Officer Darren Hazelwood had said last month: "Panther's growth strategy is now focused on the critical minerals sector, a sector which attracts growing support at both Canadian federal and provincial level, plus an increasing amount of overseas strategic funding options."
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Caledonia Mining Corp PLC - gold producer with operations in Zimbabwe - Signs deal to sell Zimbabwe subsidiary, Caledonia Mining Services. The unit operates a solar plant that supplies power to the Blanket mine. It will be sold to CrossBoundary Energy Holdings for USD22.4 million in cash. "The power generation of the solar plant will continue to be sold to Blanket Mine by way of a power purchase agreement," Caledonia Mining adds. "Completion of the sale will return capital to Caledonia at a key moment in the company's growth trajectory." In September, Caledonia Mining had reported a "fatal accident" at the Blanket mine. An "employee was hit by a fall of rock while drilling".
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By Eric Cunha, Alliance News news editor
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