11th Nov 2021 22:01
(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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Manolete Partners PLC - London-based insolvency litigation financing company - Posts interim revenue of GBP10.2 million, up 15% from GBP8.9 million six months before but 46% below GBP19.0 million a year earlier. Gross profit sinks 43% annually to GBP5.4 million from GBP9.5 million. The profit decline is mainly attributed to the fall in the number of new case investments which was suppressed due to Covid-19 related lockdowns. Cuts dividend to 0.39 pence per share from 1.17p prior year.
"The interim results for the six months ended 30 September 2021 reflect the operations of the company during a period of time when the UK insolvency market was artificially suppressed by the extraordinary UK government action initiated in June 2020," comments Chief Executive Steven Cooklin.
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British Honey Co PLC - Buckinghamshire-based spirits and honey producer - Confirms business is trading well, ahead of traditionally busy period in trading calendar. Continues to expect the full year outturn to be in line with management expectations and to deliver annual revenue of GBP800,000. "Recent weeks have shown us what a good underlying business with significant growth opportunities and an excellent customer base we have at British Honey," comments Non-Executive Chair Richard Day.
Separately, names former Carluccio's Restaurants Chief Executive Mark Jones as interim CEO. Also names Kerin Williams as new company secretary
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Supply@Me Capital PLC - London-based inventory monetisation services provider - Substantially lowers revenue outlook due to inventory monetisation deal delay. Now expects 2021 revenue between GBP500,000 and GBP800,000, down from previous estimates of between GBP3.8 million and GBP4.9 million.
Supply@ME Chief Executive Alessandro Zamboni comments: "Naturally, we eagerly anticipate the completion of the first inventory monetisation transactions and the revenue associated with this. The completion of our first monetisation and the lessons learned in its achievement will allow for a smoother process for the future as we scale up."
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Empyrean Energy PLC - Australian oil & gas explorer and producer - Confirms drilling contract has been executed for the Jade prospect exploration well offshore China. States drilling rig availability confirmed and all technical, commercial and contractual terms agreed. Also notes "significantly reduced" drilling cost estimate of USD12.3 million against previous estimate of USD18.5 million.
"We have already locked in the drill rig and awarded the well site survey and are making very good progress with other drilling preparation activities, acquiring long lead items and securing the necessary drill permits," says Empyrean Chief Executive Tom Kelly.
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Touchstone Exploration Inc - Calgary, Canada-based upstream oil and gas company - Narrows third quarter net loss to USD51,000 from USD703,000 a year previously. Petroleum sales up 62% year-on-year to USD7.7 million from USD4.7 million. Average production volumes for the quarter up marginally, 2% higher at 1,333 barrels per day.
President & Chief Executive Paul Baay comments: "Our third quarter results reflect the focused work the team has done on maintaining base production with minimal expense while executing a safe capital programme at Ortoire."
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By Will Paige; [email protected]
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