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(Alliance News) - The following is a round-up of earnings reports by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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abrdn Asian Income Fund Ltd - closed-end fund concentrated on Asian equities - Reports NAV total return of 2.5% for 2023, compared to the 1.6% delivered by the benchmark MSCI AC Asia Pacific ex Japan Index. Improves on the minus 6.8% total return the company delivered for 2022. NAV per share was 238.59 pence at December 31, down 2.0% from 243.44p one year prior. Says it has responded to a difficult macroeconomic landscape by reducing fees due to its investment manager abrdn, and that its portfolio managers are "optimising" investments with a focus on higher-yielding stocks. Dividends for the year total 11.75p per share, up 18% from 10.0p the prior year. Chair Ian Cadby says: "After a difficult year, the road ahead for Asian equities is one of cautious optimism."
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BWA Group PLC - mineral exploration company with licences in Canada and Cameroon - Reports GBP67,270 pretax loss for the six months to December 31, compared with the prior year's GBP125,736 loss. Administrative expenses decreased to GBP213,114 from GBP265,729, while other operating income was unchanged at GBP160,000. Company says it has continued to invest in the rutile sands project in Cameroon, while activity in Canada "has been limited to initial update field visits to Isoukustouc, a visit to PDAC, and filing reports to maintain the licences in the two remaining claim areas". Says it will continue exploration activities in both Canada and Cameroon "as funds permit".
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Asia Wealth Group Holdings Ltd - Bangkok-headquartered investment holding company seeking to acquire companies in Asia and European companies that have the potential to expand into Asia - Pretax loss for the half year ended on August 31 is USD93,790 following the prior year's USD182,657 loss. Revenue decreases to USD523,250 from USD843,863. Commission expenses fall to USD198,043 from USD438,297 and professional fees decrease to USD121,412 from USD127,054; "other expenses" however surge to USD21,260 from USD5,494. Cash balance remains stable at USD1.0 million on August 31, down from USD1.2 million one year prior. Says it "has taken and is continuing to forge new revenue generating relationships, as well as expanding revenue creating opportunities, in both new avenues and existing."
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One Heritage Group PLC - residential developer focused on the north of England - Reports GBP1.9 million pretax loss for the six months to December 31, following the previous year's GBP1.6 million loss. Revenue increases to GBP9.2 million from GBP5.8 million, mainly due to "a significant growth in sales along with construction services". Completed sales cause reduction in inventory to GBP14.3 million from GBP16.6 million. Company says it is on track to deliver strong revenue for the current financial year, thanks to its "robust pipeline of property sales". Adds that it is "cautiously exploring several promising options" for city centre apartments and new-build housing projects in "high-demand areas".
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By Emma Curzon, Alliance News reporter
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