20th Mar 2025 10:28
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Costain Group PLC - London-based construction and engineering firm - Has been picked for as a programme delivery partner by Urenco for upgraded infrastructure at a site in Capenhurst, Cheshire. "The framework is expected to see contracts awarded to Costain over a minimum of three years and will see Costain lead and deliver an integrated programme for Urenco's infrastructure investment activities," Costain says. The site provides "uranium enrichment services to produce fuel for civil nuclear power stations".
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Focusrite PLC - High Wycombe, England-based supplier of hardware and software used by professional and amateur musicians - Focusrite's performance in the six months to February 28 is in line with expectations. Six-month revenue of no less than GBP80 million is expected, up at least 4.0% from GBP76.9 million a year prior. "Whilst gross margins have compressed slightly in HY25 due to ongoing elevated freight costs and product mix, planned pricing adjustments and new product introductions are expected to deliver improvements in the remainder of the current period," it says. Focusrite reports that price hikes relating to US tariffs have been communicated to customers, effective May 1. "Overheads have increased in line with expectations, due largely to the resetting of variable remuneration levels as compared to the prior year," it adds. "Against a background of a normalising market in content creation, after an extended period of volatility in the sales channel, Focusrite continues to maintain its leading market position, supported by continuing robust underlying end-user registrations. While broader economic conditions remain fluid, the group has plans in place to navigate potential challenges and the board's expectations for the first twelve months of the current eighteen-month period remain unchanged," Focusrite says. For the 12 months to August 31, it puts market expectations for earnings before interest, tax, depreciation and amortisation between GBP24.5 million and GBP26.0 million. Focusrite announced in Octobeer that its year-end date has changed to February 28 from August 31. For the year ended August 2024, Focusrite achieved an Ebitda of GBP25.1 million and an adjusted Ebitda of GBP25.2 million.
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Argo Blockchain PLC - blockchain technology company focused on cryptocurrency mining with operations in the US and Canada - Amends its hosting arrangement with Merkle Standard LLC. It will host a total of 9,315 S19J Pro miners at Merkle's Memphis, Tennessee location, up from the initial 8,113. A further 4,000 miners are to be hosted in Merkle's Washington State location. In addition, Argo announces an agreement to sell 2,000 of the miners to USD550,000 in cash. On Monday, Argo said it was "no longer in financing discussions" with one party, and added that it continued to work with adviser Stifel while continuing talks with other parties. Earlier in March, Argo said it entered into a non-binding term sheet for up to USD40 million in senior secured convertible loans.
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Oxford Metrics PLC - Oxford, England-based smart sensing and software company that provides services to life sciences, entertainment and engineering markets - Industrial Vision Systems unit wins deals worth a combined GBP1.6 million. The three contracts are with "well-known, global, contact lens manufacturers". "We are pleased to see that two of these contracts are with existing customers expanding their relationship with IVS. The third contract is with a new customer in contact lens manufacturing, as companies within IVS' addressable market recognise the value of IVS' specialised machine vision inspection systems for automated quality control," Oxford Metrics says. In addition, Oxford Metrics announces Simon Gunter as managing director of our smart manufacturing division.
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Poolbeg Pharma PLC - London-based clinical stage biopharmaceutical firm - Korean Intellectual Property Office grants Poolbeg's Immunomodulator II patent application providing protection to POLB 001 for treatment of severe flu. The protection is to December 2038. "POLB 001 holds the potential to address significant unmet needs affecting patients and healthcare systems globally. This patent grant further strengthens Poolbeg's IP portfolio," Poolbeg says.
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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Reports UK and EU commercial launch of SpydrBlade Flex, an endoscopic device. Endoscopy refers to procedures done to examine the inside of the body. Creo says a "leading NHS" endoscopy unit is the first commercial customer of SpydrBlade Flex. "Following extensive pre-launch global clinical activity, this first customer marks the UK & EU commercial launch of SpydrBlade Flex, and is being pioneered in St Mark's Hospital in NW London, one of the UK's leading Endoscopy Units and recognised as a world centre of excellence by the World Endoscopy Organisation," it adds. "St Mark's Hospital is also an established and regular user of Creo's Speedboat UltraSlim." Creo says it eyes "ramping up the full commercial launch" through core sales channels in the UK and the EU as well as other international territories such as the US.
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By Eric Cunha, Alliance News news editor
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CostainFocusriteArgo Blockchai.Oxford MetricsPoolbeg PharmaCreo Medical