(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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Eden Research PLC - biopesticides and plastic-free formulation technology company - Revenue for 2020 expected to be GBP1.6 million, down from GBP2.0 million in 2019, with a pretax loss and statutory operating loss of around GBP2.6 million versus GBP1.4 million in 2019. "Product sales during the period were affected by the impact of the global pandemic on the hospitality industry which, in turn, affected wine grape production methods and, inevitably, the widespread use of crop protection products. In addition, regulatory processes around the world were impacted by wide-scale disruptions to the working practices of government agencies as a direct consequence of the pandemic," company says.
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Gaming Realms PLC - London-based mobile games developer - Expects 2020 revenue and adjusted earnings before interest, taxes, depreciation and amortisation will be GBP11.2 million and GBP3.1 million respectively, reflecting a record month in December due to the company's content licensing business. This positive momentum has continued into the start of 2021.
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Wheaton Precious Metals Corp - precious metals streaming company - Reports 2020 gold equivalent production of 672,619 ounces, exceeding the midpoint of 655,000 to 685,000 ounces guidance due to stronger than expected production from Penasquito and Antamina, partially offset by weaker production from Salobo, Constancia and Stillwater. For 2021, expects production of 720,000 to 780,000 gold equivalent ounces.
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Checkit PLC - Cambridge-based workflow management software provider - Says business performed ahead of board expectations in the fourth quarter. Reports total revenue of GBP3.4 million for three months to January 31, up 6% on a year ago. Believes that operating results for full-year will be around 15% better than current market estimates.
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Location Sciences Group PLC - London-based location verification company - Says revenue for 2020 expected to be around GBP1.1 million, down 12% on 2019, due to Covid-19's hit to the location-based advertising industry. Loss before interest, taxes, depreciation and amortisation is expected to be around GBP770,000 for full-year, slimmer than GBP1.7 million loss the year before amid a cost reduction programme which resulted in administrative expenses reducing 41% on 2019. "Verify revenues have continued to be adversely impacted by the significantly reduced advertising spend caused by the pandemic. The anticipated uplift in Verify revenues during Q4 2020 did not materialise and there has been no improvement in the first part of 2021 due to the ongoing restrictions being imposed by governments globally," says Location Sciences. Adds it is exploring number of options for the company and its businesses, believing that Verify will continue to face a number of trading challenges, in part as a consequence of the pandemic.
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Igas Energy PLC - oil & gas producer onshore in Britain - Says net production averaged 1,907 barrels of oil equivalent per day in 2020, while operating costs were around USD33 per barrel. Expects net production around 2,150 to 2,350 barrels per day in 2021 and operating costs of USD32 per barrel. "Despite the significant challenges that 2020 presented, we have continued to make good progress in a number of key strategic areas. We delivered production within guidance, commissioned our waterflood projects, which will bring increased production in 2021 and beyond and completed a significant transaction with the acquisition of the geothermal energy developer, GT Energy," says Chief Executive Stephen Bowler.
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S&U PLC - Birmingham-based motor finance firm - Trading remains robust and profitable, despite the current lockdown and "the induced coma into which the government has needed to place the wider UK economy." Demand by customers in both divisions remains strong and collections quality continues to be good, company says. Says its profitability, confidence in future trading and financial strength justifies a second interim dividend this year of 25p per share, which will be paid in March.
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Jersey Oil & Gas PLC - North Sea-focused upstream oil and gas company - Says UK Oil & Gas Authority has confirmed the Merged Licence P2498 awarded to the company in the 32nd Offshore Licensing Round was executed on Wednesday. "I am pleased that the award of part block 20/5e has now been formalised. This represents a further step in delivering on our strategy of acquiring a controlling interest in the acreage that forms the Greater Buchan Area," says Jersey Chief Executive Andrew Benitz.
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HeiQ PLC - textiles technology firm - Signs four year partnership with Girbau, a manufacturer of commercial laundry equipment. The contract is valued at a minimum of USD1.5 million, with the potential to "increase substantially". Girbau will offer its customers HeiQ's Viroblock NPJ03 product as an antiviral and antimicrobial post-treatment for its industrial laundry services.
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Camellia PLC - Kent-based agriculture and engineering services firm - Says underlying profit for 2020 expected "significantly above" market expectations at around GBP15.0 million due to better than expected trading results in Agriculture coupled with lower costs across its operations. Adds that claims based on allegations against two businesses in its African operations, namely Kakuzi in Kenya and EPM in Malawi, have now been resolved at settlements costing up to GBP4.6 million in relation to the Kenyan claims and GBP2.3 million in relation to the Malawian claims.
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Nostra Terra Oil & Gas Co PLC - Texas-focused oil and gas explorer - Says production in second half of 2020 averaged 95 barrels of oil per day net to the company, up 42% on the first half of the year. Revenue from oil sales during the second half was USD591,493, also a 42% increase over the first half. An additional USD192,508 was also received from hedging activity and equipment sales. In December net production was 103 net barrels per day, when the company became cashflow positive. "This is a significant milestone for the company. Since then a new well was brought into production at Pine Mills surpassing management's expectations. The well continues to produce in excess of 100 bopd, still limited by pump capacity and surface equipment with no water cut, showing no decline in flow rate or pressure since announced last month," says Nostra Terra.
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Brandshield Systems PLC - cybersecurity solutions provider - Reports 71% increase in annual recurring revenue in 2020 to USD3.3 million and a 47% increase in revenue to USD2.6 million. Cash at period end USD3.1 million. "The company is focused on ARR growth through the next two years to capitalise on macro trends and views this as a very strong expansion period. The board will outline our growth plans for 2021 and beyond in more detail with the publication of our full year accounts, expected to be announced in May 2021," says Chief Executive Yoav Keren.
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Petards Group PLC - Guildford-based developer of security and surveillance systems - Expects to report revenue of around GBP13 million for 2020, down from GBP15.7 million in 2019, and a "slightly improved result compared with the prior year at the adjusted Ebitda level" compared to a GBP300,000 loss in 2019. After amortisation, depreciation, reorganisation and financing charges, the group expects, subject to audit, to report a loss before tax similar to that of 2019. "Against a background of the difficulties encountered by ourselves and our customers due to the impact and disruption caused by Covid-19, the board consider the results for the year represent a credible performance. However, we believe that the benefits arising from the restructured eyeTrain business and the establishment of the Petards Technology Centre, places the group in much stronger position for 2021 and beyond," Petards says, adding it is "cautiously hopeful" of improved results in 2021.
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Boku Inc - San Francisco, California-headquartered mobile payments platform - Launches new mobile payment method for Microsoft Corp in both South Korea and Saudi Arabia. Customers of South Korea's SK Telecom and Saudi Arabia's Saudi Telecom can now make "seamless and secure" cardless payments in both Microsoft Xbox and Microsoft PC Stores.
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Harvest Minerals Ltd - fertiliser producer and operator of Arapua project in Brazil - Relinquishes its exploration license over, and returned to the National Mining Agency its 100% interest in, the Capela potash project in Brazil, to dedicate its resources and to ensure the continued growth trajectory at its 100%-owned revenue generating Arapua fertiliser project. "The relinquishment of the Capela potash project releases our resources to ensure that we can focus on developing Arapua further through strengthening our sales reach and production efficiency, which we believe should reflect in a healthy year-on-year increase in sales volumes," says Chair Brian McMaster.
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By Lucy Heming; lucyheming@alliancenews.com
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