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UK EARNINGS SUMMARY: Schroder AsiaPacific Outperforms Benchmark

Mon, 14th Dec 2020 17:47

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and Monday and not separately reported by Alliance News:

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Schroder AsiaPacific Fund PLC - investment firm focused on capital growth through investment primarily in equities of companies located in the continent of Asia excluding the Middle East and Japan - Says net asset value per share ends September at 567.16 pence compared to 490.94p at the same point the year before. Net assets grows to GBP946.1 million from GBP822.2 million over 12-month period. Declares final dividend of 8.0p, down from 9.7p the year before. NAV total return 17.7% versus benchmark adding 12.3%. "After a very hard year for financial markets, the company is in good shape and is ready to take advantage of the opportunities in the region over the coming years. You, as shareholders, are participating in a region with outstanding prospects and with a team that is second to none," Chair Nicholas Smith says.

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Agronomics Ltd - Isle of Man-based investor in cellular agriculture with a focus on cultivated meat and alternative proteins - Improves to pretax profit of GBP611,731 in year to June 30, from GBP288,919 loss year before. Income improves to GBP656,377 versus GBP75,995 loss year before. Records net gain on investments of GBP656,377 versus GBP63,439 loss year before. "Our current investment portfolio shows considerable promise for future growth given the scale of opportunity to invest in the nascent alternative foods sector, and the board will continue to seek new opportunities in line with its investing policy," Chair Richard Reed says.

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Jupiter Green Investment Trust PLC - investment firm focused on companies which have a significant focus on environmental solutions - Says undiluted net asset value per share ends September at 221.22 pence versus 173.31p at the end of March. During the six-month period, NAV total return was 27.6% compared to benchmark, the MSCI World Small Cap Index, adding 27.7%. "Over the last six months, Covid-19 has understandably dominated investor concerns as it has plunged the global economy into the steepest contraction in decades. What is becoming clear, however, is that clean energy and other sustainable solutions will be at the heart of recovery plans and key to a reinvigorated post-Covid economy," Chair Michael Naylor says.

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Miton UK MicroCap Trust PLC - investment firm focused on company's with market cap of less than GBP150 million - Says net asset value per share ends October 31 at 62.32 pence versus 51.33p at April 30. Net assets slips to GBP69.3 million from GBP71.0 million. Shares in issue ends first half at 111.3 million from 138.3 million six months earlier. Notes it is unlikely to offer final dividend. NAV total return of 22% in first half as FTSE All-Share loses 2.0%.

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Equatorial Palm Oil PLC - AIM-listed cash shell - Loss in year to September 30 narrows to USD6.2 million from USD15.1 million year before. Revenue drops to USD11,000 from USD167,000. Administrative expenses slips to USD543,000 from USD717,000. Loss narrows due to USD15.1 million loss in year before from disposal of interest in Liberian Palm Developments.

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Tungsten Corp PLC - digital financial management products and software solutions provider - Pretax loss in the six months to October 31 jumps to GBP30.5 million from GBP2.4 million the year before. Revenue falls slightly year on year to GBP18.0 million from GBP18.2 million. Records GBP26.2 million impairment in period from 2013 OB10 acquisition. Transaction volumes falls to 9.0 million from 9.6 million, but new sales billings rise to GBP2.1 million from GBP1.7 million. Chief Executive Andrew Lemonofides says: "Tungsten has faced a challenging and unpredictable market in 2020 due in part as a result of Covid-19. In spite of this, we have continued to grow the pipeline and win new customer relationships and we expect to deliver broadly similar revenues to financial 2020. We continue to invest in our sales and product capabilities, whilst maintaining financial rigour in relation to our cost base, in order that we continue to improve efficiency and are well placed to convert the sales pipeline."

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Blackrock Frontiers Investment Trust PLC - investment firm focused on long term capital growth by investing in companies in "less developed countries" - Says Friday net assets value ends September at 126.85 US cents versus 166.54 cents at the same point the year before. Net assets slips to USD306.0 million from USD400.8 million. NAV total return negative 20% compared to benchmark - the MSCI Emerging Markets Index ex Selected Countries and the MSCI Frontier Markets Index and the MSCI Saudi Arabia Index - losing 15.6%.

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Atlantis Japan Growth Fund Ltd - investment firm focused on long term capital growth from listed Japanese equities - Says Friday net asset value per share ends October at GBP2.93 compared to GBP2.34 at April 31. Net assets improve to GBP122.5 million from GBP97.9 million six months earlier. NAV total return in the first half was 27.3%, compared with benchmark, the TOPIX Total Return index in sterling terms, adding 7.3%.

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Anglesey Mining PLC - Wales, Sweden and Canada-focused miner - Says Friday pretax loss in six months to September 30 broadly flat year on year at GBP152,882 versus GBP156,600 year before. Expenses slip to GBP68,439 versus GBP71,493 and finance costs lower at GBP84,460 from GBP85,190. Did not generate revenue in either period. Chair John Kearney says: "The period since our annual report in September has been very encouraging for the minerals industry in general and for Anglesey Mining in particular. We have made good advances on a number of fronts and the prices of all the main metals in which we are interested have advanced significantly. Two of our projects have moved forward through the commissioning of development studies and the results of both these should be available in the coming weeks."

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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