TRADING UPDATES: Cloudcoco's 'transformative' year; CEPS pays debt
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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Cloudcoco Group PLC - Sheffield-based e-commerce and IT procurement group - Says the year ended September 30 was a ‘transformative period’ for the firm. Revenue from continuing operations is expected to fall to £8.0 million from £8.7 million. Trading earnings before interest, tax, depreciation and amortisation of £80,000 is expected, up from £63,000. ‘The group is expected to report a net profit for FY25 of approximately £2.5 million, primarily reflecting the gain on disposal of subsidiaries,’ it adds. ‘CloudCoCo entered FY26 with a clear strategic focus. The board’s objective is to scale annual revenues towards its initial £10 million target at a sustainable margin, after which it expects to generate consistent positive monthly cash flow at PLC level.’
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CEPS PLC - buys majority stakes in ‘profitable and steadily growing entrepreneurial UK companies’ - Repays in full the £3.0 million loan provided by Chelverton Asset Management Ltd and the £2.0 million loan provided by a third party. It now has no external debt.
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Bezant Resources PLC - copper and gold exploration and development company with projects in Namibia, the Philippines and Botswana - Mining licence ML185, which covers the Namib Lead & Zinc Mining Pty Ltd mine and processing plant, has been renewed. ‘The renewed licence ML185 is valid for a period of 10 years to 24 February 2036,’ Bezant adds.
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Kendrick Resources PLC - mineral exploration and development company with rare earth project in Namibia - Kendrick begins phase 2 drilling on the Teufelskuppe and Keishohe rare earth carbonatites at the Bonya project in Namibia. ‘The decision to progress to resource definition drilling has been prompted by the consistently high-grade rare earth elements assay results generated by all types of historic exploration for both TK and KH,’ Kendrick adds.
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Dekel Agri-Vision PLC - West Africa-focused agricultural company - Crude palm oil output in February ‘improved significantly’ compared to a month prior, though it was lower on-year. Fresh fruit bunches processed declines 16% on-year to 13,632 tonnes. Crude palm oil output falls 17% to 2,939 tonnes. Sales fall 31% to 2,188 tonnes, with the average price per tonne up 2.4% to €973. ‘Importantly, the CPO high season has now clearly commenced, with a notable uplift in production observed towards the end of February. This momentum has continued into March, where a material increase in monthly production volumes is expected,’ Dekel adds.
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Sunda Energy PLC - Southeast Asia-focused exploration and appraisal company - Its subsidiary operating the TL-SO-19-16 production sharing contract in offshore Democratic Republic of Timor-Leste has been awarded an environmental licence for the drilling of the Chuditch-2 appraisal well. ‘Award of the environmental licence for Chuditch-2 is a major milestone in our drilling preparations, and the fruit of considerable survey works, studies, reviews and planning,’ Chief Executive Officer Andy Butler says.
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Nuformix PLC - London-based developer of treatments for fibrosis and oncology - The US Food & Drug Administration grants orphan drug designation to its tranilast lysate candidate for the treatment of idiopathic pulmonary fibrosis. Nuformix says the designation provides regulatory incentives, including potential market exclusivity in the US.
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