PANTHER SECURITIES PLC (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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Panther Securities PLC - London-based property investor - Pretax profit in 2022 rises to GBP22.9 million from GBP15.9 million in 2021. Revenue ticks up to GBP13.4 million from GBP13.2 million, while fair value gain on derivative financial liabilities rises to GBP19.7 million from GBP16.8 million. Maintains 12 pence dividend per share, unchanged from a year earlier. Says: "We are experiencing rental growth, some of this being from renting long-term vacant properties and the rest from improved rental terms. Going forward over the next couple of years we foresee the biggest issue being controlling the holding and maintenance costs of our properties. In response to this, we are bringing in further controls and phasing our work programmes [...] We believe there are still many opportunities to unlock value within our portfolio, both in terms of letting more of the vacant properties, through repurposing and some from planning schemes to rebuild."
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Petrofac Ltd - London-headquartered company which designs, builds, manages and maintains energy infrastructure and has its core markets in the Middle East and North Africa region - Earnings before interest and tax, depreciation and amortisation loss for 2022 is USD138 million from USD86 million in 2021. Revenue drops to USD2.59 billion from USD3.04 billion. Says 2022 performance "severely" impacted by legacy E&C portfolio. E&C revenue falls to USD1.3 billion from USD2.0 billion, while Ebit loss widens to USD299 million from USD62 million. Chief Executive Officer Tareq Kawash says: "We are working resolutely to put these challenges behind us, and to rebuild our backlog - such as the recent multi-year, multi-platform framework agreement in support of TenneT’s 2GW offshore wind programme. Meanwhile, IES is performing well and Asset Solutions continues to provide us with attractive growth opportunities."
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Hamak Gold Ltd - exploration and development company operating in Liberia - Pretax loss in 2022 multiplies to USD3.7 million from USD355,000. Executive Chair Amara Kamara says: "Achieving our IPO and becoming the first Liberian majority owned exploration resource company on the LSE is a major achievement [...] Our teams have moved swiftly since our IPO, having already discovered what we believe to be a new and significant gold deposit in the Nimba licence. However, there is a lot more work to do to bring this discovery to account and to pursue additional gold anomalies in our licences. We believe Liberia has vast potential to deliver economic gold mines and want Hamak Gold to be at the forefront of this exploration drive."
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Asiamet Resources Ltd - developing copper-gold deposits in Indonesia, including BKZ deposit in Central Kelimantan - Pretax loss widens to USD7.0 million in 2022 from USD6.1 million in 2021. Posts no revenue, unchanged.
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daVictus PLC - Asia-focused food & beverage sector investor - Pretax profit swings to GBP228,628 in 2022 from a loss of GBP18,111 in 2021. Revenue multiplies to GBP411,358 from GBP162,500. Chair Abd Hadi Bin Abd Majid says: "Our two franchisees in Malaysia and Thailand have been performing well, and we are excited about the potential for further growth in these markets. We have however, adopted a conservative expansion plan and will only start to consider franchisee enquiries from Singapore, Indonesia, Philippines, and Vietnam in the coming years [...] we are optimistic about the company's future and firmly believe that our positive outlook for business expansion, combined with our commitment to operational excellence and best practices, will continue to drive our growth and profitability."
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Codex Acquisitions PLC - Investor in clean and renewable energy - Pretax loss in 2022 is GBP237,122. Compares this to pretax loss in the quarter that ended December 31, 2021 of GBP30,315. Chair James Lawson-Brown says: "We formed Codex to undertake an acquisition of a controlling interest in a company or business within the renewable energy sector. Any acquisition is expected to constitute a reverse takeover transaction and any consideration for the acquisition may be partly or wholly share-based, funded from the company's existing cash resources, or from the raising of additional funds."
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Curtis Banks Group PLC - Appoints Ross Allan as interim chief operating officer from Monday, following Jane Ridgley giving notice of her proposed retirement as COO last June. Chair David Barral says: "I would like to take this opportunity to thank Jane for her dedication, hard work and leadership which have been instrumental in helping us achieve our goals. We are truly grateful for her many years of outstanding service to the group and we wish Jane the very best of luck as she embarks on her retirement".
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Datalex PLC - Dublin-based software company in digital commerce for travel retail - extends partnership with Canadian leisure airline Air Transat for another five years to "drive next generation retailing, an improved booking experience and enhanced digital customer engagement leveraging the Datalex product suite". Datalex Chief Executive Officer Sean Corkery says: "As the digital retail partner for Air Transat, Datalex is committed to growing and strengthening the airline's reach, connectivity, digital bookings as well as the customer experience. We are delighted to announce this renewed partnership, which ensures that we can continue to enhance Air Transat's digital retail offering for its customers, and also to improve their travel experience".
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Trinity Exploration & Production PLC - Trinidad & Tobago-focused independent exploration and production company, with assets onshore and offshore on both the east and west coasts - First quarter of 2023 sales average 2,899 barrels of oil per day, down from 2,961 bopd in the fourth quarter of 2022 and down from 2,929 bopd a year earlier. Says this sales performance, "which is broadly in line with the prior period, comes as a result of ongoing well optimisation, drilling, workovers and recompletion activities". Completes 39 workovers in the first quarter, up from 24 a year earlier. Chief Executive Officer Jeremy Bridglalsingh says: "Trinity is at an inflection point as we prepare to drill the Jacobin well, testing the first of our nine Hummingbird deeper prospects. The rig has mobilised and the well will spud in the coming days. The well is designed to test the extensive deeper onshore play and collect data to calibrate and define future activity across Trinity's existing onshore acreage and the Buenos Ayres block, should the company be successful in the ongoing licence round. The ABM-151 well was successfully returned to production in March and, since this time, has performed consistently above expectations. The well is currently producing at a managed stabilised rate of around 140 bopd, whilst producing encouraging well performance data."
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By Greg Rosenvinge, Alliance News reporter
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