15th Oct 2024 15:33
(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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Strix Group PLC - Isle of Man-based kettle safety controls and other devices for water heating and temperature control, steam management, and water filtration - Achieves "major milestone", with more than 3 billion kettle controls manufactured worldwide. "Strix estimates that its controls are used approximately 1.2 billion times per day, in more than 100 countries, by over 10% of the world's population. The company has successfully cultivated a leading market value share of the global kettle control industry and occupies the number one position in the manufacturing of controls," Strix says. "Strix is pleased to announce this milestone in conjunction with its attendance at the Canton Fair, the oldest, largest, and most representative trade fair in China. Strix's team of 25 attending the fair includes members from various functions, consisting of engineering and industrial design, technical support, customer relations, sales and applications, all supported by senior management."
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Quartix Technologies PLC - Cambridge, England-based supplier of subscription-based vehicle tracking systems, software and services - "Confident" in meeting market expectations for profit and free cashflow in full-year. Adjusted earnings before interest, tax, depreciation and amortisation consensus stands at GBP5.8 million. In nine months to September 30, annual recurring revenue climbs by GBP2.7 million, "an increase of more than 60%" on ARR rise of GBP1.7 million over same period a year prior.
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GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Hails "significant progress" on aim to develop borderless neobanking platform. The work is being undertaken through its GS Money banner. Angra Global offering sees "substantial revenue growth over the past six months". "This growth has been closely linked to a significant rise in client volumes, reflecting the group's strategic focus on expanding its operations and sales teams. By increasing headcount in these critical areas, Angra has effectively bolstered its service delivery capabilities, allowing the company to meet heightened demand while maintaining high service standards," GSTechnologies says. In addition, GS20 Exchange is seeing "increasing interest from high-net-worth individuals and corporate clients", boosting account openings. "This positive trend aligns with the GST Board's expectations for the exchange's growth within the crypto asset market. It is expected that 2025 will be a pivotal year for the sector, and the GS20 Exchange is well-positioned to benefit substantially from this favourable market outlook," the firm adds. Elsewhere, Semnet, which it acquired a 67% stake in in February, has "been performing ahead of GST's expectations at the time of the acquisition".
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Tatton Asset Management PLC - Cheshire, England-based firm offering fund management, regulatory, compliance and business consulting services - Assets under management at September 30 half-year end total GBP18.92 billion, a rise of 14% from GBP16.55 billion at start of April. Reports organic net inflows of GBP1.83 billion. Including assets under influence of 8AM Global Ltd, it has a combined assets under management and influence of GBP19.95 billion at end of September. Chief Executive Officer Paul Hogarth says: "As we enter the second half of the year, we are conscious of the wider macroeconomic and geopolitical volatility but more acutely, the impact the UK autumn budget is having on investor sentiment and the UK market generally. However, against this backdrop, we believe we are well positioned to make further progress over the remainder of this financial year."
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Rome Resources PLC - Democratic Republic of Congo-focused tin explorer - Says 1,336 metres of drilling has taken place, as updates on operators at Kalayi and Mont Agoma prospects in Democratic Republic of Congo. "In this current campaign, there are seven completed holes on Kalayi and one on Mont Agoma with three drill rigs currently drilling across the project. A fourth drill rig is currently in the process of being mobilised to Mont Agoma by helicopter from our base at Osokare, 40 kilometres from the project site. This fourth drill rig is expected to commence drilling at Mont Agoma shortly," Rome Resources adds. "In addition to the increased drilling capacity from the fourth drill rig, Rome Resources is expecting the drilling production to increase going forward as drilling starts to target areas below the tropical weathering profile. The arrival of more hard quarry drill rods is anticipated to result in reduced standing time and therefore greater drilling efficiency at Kalayi, where two drill rigs are currently located."
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Great Southern Copper PLC - Chile-focused copper, gold, and lithium explorer - Says new target found at Viuda prospect. "The discovery of additional porphyry style copper-gold-silver alteration and mineralisation at Viuda is very exciting and further emphasises the potential of the Especularita project to host multiple porphyry copper centres," CEO Sam Garrett says. Great Southern says programme of "further detailed mapping and sampling" to begin to elevate prospect to "drill-ready status".
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Mineral & Financial Investments Ltd - natural resources sector-focused investment company - Updates on Lagoa Salgada asset located in the Grandola area in Portugal and some 80 kilometres from nation's capital Lisbon. Asset is being developed by M&F investees Redcorp Empreedimentos Mineros Lda and Ascendant Resources Inc. Redcorp reports completion of phase I of its metallurgical test work optimisation programme at Lagoa Salgada. "The results of the phase I programme have shown substantial improvements in both metal recoveries and concentrate grades, reinforcing the economic potential of the project," M&F says.
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Syncona Ltd - life science investor - Portfolio company Beacon Therapeutics reports "positive" 24-month data from phase 2 probe of AGTC-501 in X-linked retinitis pigmentosa, an eye disease that can cause vision loss. "24-month analysis indicated AGTC-501 was generally well tolerated with no clinically significant safety events associated with treatment," Syncona says. "Data demonstrates the durable efficacy profile of AGTC-501 with the higher dose cohort showing a 57% response rate in the 24-month analysis of retinal sensitivity, the primary endpoint for the trial."
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Inqo Investments Ltd - social impact investment firm - Reports it has invested in Empower Clean Cooking Ltd, as part of Conservation & Rural Enterprise project in Uganda. Empower is to produce biomass pellets for cooking fuel. "The CARE Project aims to use an enterprise approach to tackle environmental and social issues in and around the Budongo Forest in Uganda. Budongo Forest faces several threats including illegal bush meat poaching, deforestation for charcoal production and increasing population pressure around the forest fringes. The CARE project is designed around the belief that social and environmental issues are interrelated and that poverty is a key driver of deforestation in this region," Inqo adds.
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By Eric Cunha, Alliance News news editor
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