(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
----------
Proton Motor Power Systems PLC - Munich-based producer of hydrogen fuel cells and electric hybrid systems - Loss, before embedded derivatives, in six months to June 30 narrows to GBP1.2 million from GBP10.3 million a year before. Revenue fell to GBP922,000 from GBP1.1 million. Operating loss widens to GBP3.9 million from GBP2.8 million, as administrative expenses rises to GBP4.2 million from GBP3.2 million. Chair Helmut Gierse says: "Proton Motor has made further progress in the first half of this year in developing its strategic partnerships with some large customers and building its sales pipeline." Adds: "Despite the Covid-19 backdrop, a further strengthening of industry and consumer demand for alternative sources of energy continues, supported by various governments' strategies towards the 'hydrogen economy'."
----------
Steppe Cement Ltd - Kazakhstan-focused construction materials firm - Pretax profit in six months to June 30 grows to USD7.7 million from USD4.8 million year before, as revenue improves to USD39.5 million from USD33.8 million. Sales rises 10% to 840,661 tonnes from 764,752 tonnes year before. "Steppe Cement's local market share decreased from 16.5% in 1H2020 to 15% in 1H2021 due to the strong growth in the overall market. We expect to maintain this share for the full year. Exports represented 9% of the volumes in the 1H2021 from 11% last year," company says. Adds: "Overall production of all factories in Kazakhstan has increased by 1 million tonnes to 5.7 million tonnes for the 1H2021 as closures in the smaller factories were balanced by increases in production by Gezhuoba Cement and Alacem." Notes it maintains working capital lines available for the winter.
----------
JP Morgan Mid Cap Investment Trust PLC - invests in FTSE 250 companies - Net asset value per share ends June 30 at 1,450.6 pence, up from 1,001.3p at same point year before. Maintained dividend at 29.5p. Annual NAV total return 48.6%, surpassing benchmark - the FTSE 250 Index, excluding investment trusts - gaining 36.7%. "The healthy margin of outperformance was accounted for by excellent stock selection and the tactical use of gearing by the Investment Managers. Despite this impressive headline return, the year under review was not a straightforward one to navigate. Leadership in the FTSE 250 Index changed regularly as newsflow influenced an often rapidly evolving investment background. In particular, the 'vaccine bounce' in November and December produced a marked change in sentiment towards certain sectors. The Investment Managers maintained their balanced investment approach throughout the year and their key stock selections contributed significantly to the outperformance," company explains. Points to holdings of Future PLC, Pets at Home PLC, Watches of Switzerland PLC and Games Workshop PLC as key performers.
----------
Live Co Group PLC - Lego brick-based events and entertainment firm based in Surrey, England - Pretax loss in six months to June 30 narrows to GBP2.1 million from GBP5.4 million year before. Revenue drops to GBP622,000 from GBP968,000. Administrative expenses drops to GBP1.4 million from GBP1.5 million. Loss narrows on account of GBP4.0 million exceptional item charge year before that was not repeated. Chair David Ciclitira says: "I am delighted that the green shoots of recovery are starting to come through, with 28 BRICKLIVE events confirmed for 2021, a year when we and our clients were unable to operate for the first six months; and with the confirmation of the Formula E Cape Town race by the FIA and Formula E for February 2022, we are well-placed to benefit from that recovery."
----------
Accsys Technologies PLC - London-based chemical technology company - Says sales "strong" in first five months of financial 2022, from April 1 to August 31. Attributes performance to continued strong demand for both Accoya wood and Tricoya wood elements. Accoya revenue up 31% to about EUR40 million, which is up 22% from two years ago, which includes 10% growth from Tricoya. Chief Executive Rob Harris says: "This reflects continued strong customer demand, our price increases, product mix, and lapping the initial more severe effects of Covid-19 last year. During the last five months we have continued to make good progress with the construction of a fourth reactor in Arnhem, advanced our US JV with Eastman and whilst we experienced some previously communicated challenges with the construction of our Hull Tricoya facility, we are working through these and expect to have the plant commercially operational by July 2022."
----------
Goldstone Resources Ltd - gold explorer in Ghana, Senegal and Gabon - Says progress is yet to begin production at the Akrokeri-Homase gold project in Ghana. Goldstone says the Minerals Commission of Ghana has not approved the company to use a loaded carbon facility where it plans to elute gold. Goldstone is accelerating plans to complete its own elution facility as a result. Chief Executive Emma Priestley says: "Whilst we are obviously disappointed that we have not been able to commence gold production, we are pleased with the continued progress on the Homase Mine and the rate at which this is now operating following some initial operational hurdles. We look forward to providing further updates on the completion of our own elution facility on site and the timing for first gold production in due course."
----------
Infrastrata PLC - London-based strategic infrastructure projects company - Harland & Wolff Group subsidiary wins first major in-service support contract in Belfast to support Virgin cruise vessel. In Appledore, north Devon, currently awaiting MT Entsha towards the third week of October. "This project effectively reactivates the fabrication halls of Appledore and demonstrates its readiness to take on larger and more complex works programmes," company says. Chief Executive John Woods adds: "It is fantastic to see multiple contracts being awarded to Harland & Wolff across Belfast and Appledore. These range from minor 'bread & butter' type of works to major contracts that have the capacity to grow in value over time. We are now being recognised as a shipyard business that is professional, cost effective and customer attentive."
----------
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
