22nd May 2025 22:51
(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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Poolbeg Pharma PLC - London-based clinical stage biopharmaceutical company targeting diseases - BookBuild offer is significantly oversubscribed and therefore Poolbeg upsizes the offer to GBP150,000 from GBP100,000. Poolbeg has already raised GBP4.7 million via a "significantly oversubscribed" placing, which was upsized due to strong investor demand, and subscription, both at 2.5 pence per share.
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Robinson PLC - Chesterfield, England-based plastic and paperboard packaging manufacturer - sales volumes in the first four months of the year are 1% above a year prior, company says in a trading update. Including the effect of sales price and foreign exchange movements, revenue is 3% above the same period a year ago. UK sales volume in the year to date has been strong as a result of new projects implemented in the previous 12 months, particularly in PET bottles. But this growth has been largely offset by a reduction in volume in Robinson's Denmark operation, "where we have seen significantly lower and more volatile demand from our larger customers and overall conditions remain challenging." Continues to pursue the sale of surplus properties in Chesterfield and expects further sales to be achieved in 2025. Estimates that the current market value of surplus properties is GBP7.4 million. Continues to expect underlying operating profit for the 2025 financial year to be ahead of 2024 and in line with current market expectations. In 2024, Robinson reported underlying operating profit of GBP3.2 million.
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Idox PLC - Woking, Surrey-based information management software and geospatial data solutions company - revenue rises to GBP45.0 million in the half-year to April 30 from GBP43.1 million a year ago, Idox says in a trading statement. Says solid recurring revenue growth of 9% was partially offset, as anticipated, by lower non-recurring revenue. Adjusted Ebitda increases by over 6% to GBP13.9 million from GBP13.1 million a year ago, in line with the board's expectations. Order intake rises 9% in the period to GBP59.0 million from GBP54.1 million with new wins for the Assets division and geospatial data solutions, providing increased levels of recurring revenue visibility across all divisions for the remainder of financial 2025 and into financial 2026. Ends the half-year with net cash of GBP0.2 million compared to a net debt position of GBP9.9 million as at October 31 2024. "We are pleased with our progress and positive momentum and are confident that Idox is well positioned for growth in the remainder of 2025," says David Meaden, chief executive officer.
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Zotefoams PLC - provider of foams, insulation, seals and interior trims for the automotive sector - says trading in the four months that ended April 30 was "strong", keeping up momentum seen in 2024. Sales in the period rose 8%. "The board continues to expect the group to deliver overall growth in 2025, supported by the strong performance in the period, a growing order book and with good opportunities across all geographies," Zotefoams says. "While recent US-led tariff announcements may result in some market disruption and associated incremental costs, this presents a manageable headwind rather than a fundamental shift in our market opportunity. The adoption rate of supercritical foams in athletic footwear, currently at 4-6% of the total market, continues to present significant growth potential despite these developments." The firm adds: "The strong performance in the period provides a solid platform from which to deliver further financial and strategic progress in 2025. While mindful of remaining macroeconomic volatility, the board's full year expectations remain unchanged, and it remains confident about the long-term prospects of the business."
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Thruvision Group PLC - Abingdon, England-based provider of walkthrough people-screening technology - says a Thruvision 81 Series system is installed for the first time in a UK prison this week. "This strategically important deployment will be used to screen inmates for contraband and weapons, to disrupt their movement within the prison and make it a safer place for both inmates and staff," the firm explains. Believes Thruvision 81 Series is "perfectly suited" for use in prisons and custodial facilities. Points out Thruvision has been deployed in prisons in mainland Europe since 2022 and has been successful there in effecting contraband seizures.
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Incanthera PLC - Manchester, England-based developer of technologies in dermatology and oncology - provides commercial update regarding the launch of Skin + CELL, its skin care range. Says it is in the process of finalising the terms of a business agreement with a global direct to customer marketing agency, anticipated to be signed in the next week. The agency will launch Skin + CELL across its platform and be remunerated solely on a success-based royalty model. Incanthera will be responsible for completing sales orders via a dedicated Skin + CELL website. Sales orders will be fulfilled by a third-party logistics company in Switzerland, that will hold the current Skin + CELL stock, receive the sales orders and send direct to the customer. The company currently has 100,000 units of finished product of Skin + CELL in stock ready for sale. It is anticipated that launch will be in the third quarter and that the full 100,000 units will be sold in the current financial year to March 31 2026.
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Ascent Resources PLC - oil and gas explorer and producer - signs agreements to acquire a 49% direct non-operated interest in producing and prospective oil and gas leases in Colorado, owned and operated by Locin Oil Corporation for USD2.5 million and an initial 10% direct non-operated interest in producing and prospective oil and gas leases in Utah, owned and operated by ARB Energy LLC. Further, says intends to appoint US based geologist David Patterson as chief executive following the next AGM. Colorado deal to be satisfied by the issue of USD600,000 worth of shares at 0.5 pence each and a USD1.9 million 3 year term convertible loan note issued to vendor. Ascent pays USD750,000 for the Utah acquisition which is satisfied by the issue of new shares. Ascent says it has raised USD1.4 million via subscriptions and placing with new institutional and strategic investor placees.
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Fusion Antibodies PLC - Belfast-based contract researcher that provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Says the US Patent and Trademark Office issues a notice of allowance in respect of the company's US patent application no. 17/287,441. The application entitled "Antibody Library and Method", concerns the library of antibodies that is currently screened within Fusion's OptiMAL platform, as well as the method for the design of additional libraries. Fusion anticipates that the patent will be granted upon completion of certain administrative requirements, including payment of the patent application, in due course.
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Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion company - Says US patents 12,280,407 for Waste Treatment - Temperature Zones and 12,303,951 for Treatment of Waste - Steam Ratio have been granted. In Europe, patent EP3999258 also granted.
"These patents further support the credibility of Powerhouse's DMG process and allow the company to target additional markets with the necessary IP protection," it says.
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Glenveagh Properties PLC - Maynooth, Ireland-based housebuilder - reiterates financial 2025 guidance, anticipates an earnings per share outturn of 19.5 euro cents. Expects first half to be materially stronger than a year ago, with increased units, revenue and profitability, albeit the weighting of each towards H2 will persist. Has continued confidence in delivering 1,500 homebuilding units and achieving partnerships revenue of approximately EUR400 million in 2025, in addition to completing over EUR100 million in non-core land sales across 2025 and 2026. Total equivalent home deliveries are expected to reach around 2,600 in 2025.
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Velocity Composites PLC - Burnley, England-based supplier of composite material kits to the aerospace industry - expects revenue to fall to GBP10.4 million in the six months to April 30 from GBP10.7 million a year prior. Expects adjusted Ebitda to be GBP0.3 million, being positive for the first time since before the pandemic. Last year, the firm reports adjusted Ebitda loss of GBP0.2 million. Sees improved gross margin, with pricing having now recovered the full impact of prior inflationary pressures and ongoing operational efficiency improvements.
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Sabre Insurance Group PLC - motor insurance underwriter - reports a decline in gross written premiums over the first four months of 2025, amid a "relatively weak pricing environment". Gross written premiums fall 23% to GBP66.1 million in the four months to April 30, from GBP85.7 million a year prior. "I am pleased that Sabre remains on track to deliver target margins and strong profit for the year, despite the relatively weak pricing environment that we have seen in 2025 to date," CEO Geoff Carter says.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Poolbeg PharmaRobinsonIdox GroupZotefoamsThruvision GrpINC.LAscent ResourcesFusion AntibodiesPowerhouse EnerGlenveaghVelocity Comp