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TRADING UPDATES: Kitwave buys Total Foodservice for GBP21 million

28th Mar 2024 14:08

(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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Triple Point Energy Transition PLC - investment trust, which focuses on green-transition infrastructure projects - Completes sale of LED Facility for GBP2.1 million. Chair John Roberts says: "The completion of this sale reduces the number of investments within the group's portfolio from 19 to 18 investments. We will continue to update the market on the orderly realisation process and on our plans for returning capital to shareholders."

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Kitwave Group PLC - North Shields, England-based food wholesaler - Buys Total Foodservice Solutions Ltd, a food wholesaler in the north of England, for GBP21.0 million. "Established over 130 years ago, Total Foodservice delivers wholesale catering supplies of around 4,000 product lines including chilled, frozen and ambient food, non-food and cleaning products. Total Foodservice's depots are located in Clitheroe, Lancashire and Huddersfield, Yorkshire with customers including licensed trade and restaurants, coffee shops and sandwich bars, schools and universities and the care industry across the North of England," Kitwaves says. Total Foodservice reported a turnover of GBP25.4 million and pretax profit of GBP2.0 million in the financial year ended April 30. The board believes that the acquisition will be immediately earnings enhancing after adding back costs relating to the transaction.

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Audioboom Group PLC - Jersey-registered podcast publisher with offices in London and New York - Notes continued expansion of its creator network through new exclusive partnerships with podcasts including Pretty X Unfiltered, BDA with Katherine Schwarzenegger, Soder, Omnibus, Do We Know Them?, and George Conway Explains It All To Sarah Longwell. These shows are expected to contribute more than 4 million downloads per month to the Audioboom Creator Network. Chief Executive Stuart Last comments: "We're bringing new political, comedy, culture and storytelling podcasts to the Audioboom Creator Network, highlighting how our platform and services can power podcasting for a wide variety of creators and influencers. Expansion of our podcast partnerships has been integral to us establishing the fourth biggest podcast network in the US - proof that the best podcasts and most talented creators in the industry understand the value our platform can deliver."

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Kropz PLC - South Africa-focused phosphate producer and developer - Draws down ZAR60 million on loan. On Wednesday Kropz said that Kropz Elandsfontein Pty Ltd and ARC Fund have agreed to a ZAR170 million, or USD9 million, loan facility. ARC Fund is a "major shareholder."

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Journeo PLC - Leicestershire-based transport system services provider - Receives a GBP1.5 million purchase order from Swansea Council. Says the purchase order is for the manufacture, installation and maintenance of a range of the latest Journeo Thin-Film Transistor, Liquid Crystal Display and interactive totem technologies. CEO Russ Singleton says: "We are delighted to see the continued evolution of passenger information estates within Wales, especially Swansea's commitment to delivering information to passengers using low-carbon and no-carbon solutions such as our QR code system."

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Honye Financial Services Ltd - Cayman Islands-based company seeking acquisitions in financial services and financial technology - Enters into a loan agreement with Tang Investment No 1 Ltd. Loan is for GBP275 million. The Loan is unsecured with interest accruing on the principal at the rate of 6.25% per annum. Chair Shaun Carew-Wootton says: "This financial support from Tang Investment No 1 Limited provides us with a clear path to completing the RTO. The Company appreciate this demonstration of confidence in our collective efforts and look forward to announcing completion of the RTO without further significant delay."

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CloudCoCo Group PLC- London-based IT and communications for businesses and public sector - Says annual accounts for financial 2023 will not be finalised ahead of the March 31 deadline. Financial year runs to September 30. "Despite the best efforts of all parties, the Company requires further time to finalise these accounts and for the auditor to complete its procedures with respect thereto. The company expects the accounts to be published before the end of April," CloudCoCo says. Reiterates guidance. In the financial year that ended September 30, eyes earnings before interest, tax, depreciation and amortisation of at least GBP1.9 million, up 19% from GBP1.6 million a year prior. Revenue is set to climb 7.4% to GBP26.0 million from GBP24.2 million.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to [email protected]

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