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Pin to quick picksAssetco Share News (ASTO)

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TRADING UPDATES: Croma gains from demand for security guards

Mon, 28th Jun 2021 13:18

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

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Croma Security Solutions Group PLC - Hampshire-based security services and technology provider - Results for the financial year ending June 30 will be better than previously expected, with Ebitda of at least GBP1.9 million from GBP1.8 million in financial 2020. Final dividend is expected to reflect strong performance, company says, without giving details. Croma benefited from increased demand for security services, such as manned guarding of empty premises.

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Goldstone Resources Ltd - gold explorer with assets in West Africa - Reports pretax loss of USD610,095 in 2020, after a loss of USD654,780 in 2019. Mining operations, which started last month, remain on schedule with 160,000 tonnes of ore mined and stockpiled so far.

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BiON PLC - Kuala Lumpur-based bioenergy company - Expects to report significantly reduced revenue in the first half of 2020. Company unable to secure engineering, procurement, production and commissioning contracts because of lockdowns in Malaysia. 2020 results will be delayed, company received approval for three-month deadline extension to September 30. No longer pursuing a special purpose vehicle with Green Lagoon Technology, but open for collaborations in future. Executive Director Habizan Rahman Bin Habeeb Rahman buys 27% stake in the company by acquiring major shareholder K2M Ventures.

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Napster Group PLC - London-based music streaming company - Revenue rises to GBP987,726 in financial year ended December 28, from GBP194,971 in previous year. Pretax loss widens to GBP26.8 million from GBP16.2 million. Expects to launch Napster platform towards the end of the fourth quarter of 2021, which will be combined with the company's other platform, MelodyVR. Expects to invest USD27 million this year developing the Napster platform.

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Ferro-Alloy Resources Ltd - vanadium miner with operations in Kazakhstan - Revenue rises 29% to USD2.4 million in 2020 from USD1.8 million in 2019. Pretax loss widens to USD3.9 million from USD3.3 million. Vanadium production increased 56% from 2019 and the equipment is now in place to achieve significantly higher production, company says. Plans to buy an electric arc furnace which can double production capacity. Gets further USD7 million investment from Vision Blue Resources Ltd under subscription agreement at 9p per share.

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Escape Hunt PLC - Manchester-based escape-room game provider - Revenue in the five weeks after May 17, when escape rooms were allowed to reopen, was up 47% from the 2019 level. Estimated earnings before interest, tax, depreciation and amortisation tripled in the period from 2019. Expects to achieve target of 20 owner-operated sites "well ahead" of the original target of June 2022.

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Adams PLC - Isle of Man-based technology and life sciences investor - Reports pretax profit of GBP3.1 million in year ended March 31, versus a GBP303,000 loss the previous year. Net asset value per share rises to 6.24 pence from 2.50p a year ago.

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Lansdowne Oil & Gas PLC - Dublin-based oil and gas explorer with assets offshore Ireland - Pretax loss widens to GBP407,000 in 2020 from GBP179,000 in 2019. Expects to start operations at the Barryroe field later this year and drilling of the K well in the second half of 2022, which will deliver strong returns at current oil prices.

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Petrofac Ltd - Jersey-based provider of services to the oil and gas industry - Trading in first half of 2021 is in line with management expectations. The Engineering & Production Services and new energies businesses grew strongly, while the Engineering & Construction unit was hit by Covid-19. New orders in Engineering & Construction are likely to remain depressed for the rest of the year. Petrofac has USD3.0 billion secured revenue for 2021 and a pipeline of USD48 billion in contracts scheduled for award in the next 18 months. Dividends remain suspended pending a recovery in new order intake.

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Samarkand Group PLC - London-based online retail services provider - Revenue more than doubles to GBP20.6 million in year ended March 31, from GBP6.8 million in previous year, company says in a trading update. Ebitda was "moderately ahead of expectations" at GBP1.1 million, versus a loss of GBP800,000.

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MediZest PLC - Woking-based provider of audio-visual services to brands - Revenue falls 42% to GBP846000 in six months ended March 31, from GBP1.5 million year-on-year. Pretax loss widens to GBP160,000 from GBP83,000. Business has improved significantly since March 31 and company is pitching and delivering projects to new and existing clients. Expects "much improved" second half.

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Xtract Resources PLC - London-based gold miner with assets in southern Africa and Australia - Revenue rises 30% to GBP1.8million in 2020 from GBP1.4 million in 2019. Pretax loss narrows to GBP807,000 from GBP1.1 million. Second part of 2021 "should be very exciting", with high expectations for an increase in production income and positive results from phase 2 drilling programme in Australia.

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Live Co Group PLC - Surrey-based live events company - Revenue falls 66% to GBP1.9 million in 2020 from GBP5.5 million in 2019, after live events were hit by the pandemic. Pretax loss widens to GBP8.4 million from GBP1.8 million. Live Co has continued to make losses in 2021. Does not recommend a dividend.

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AssetCo PLC - Monmouth-based investor in wealth management stocks and activities - Reports pretax profit of GBP22.3 million in six months ended March 31, versus a loss of GBP742,000 year-on-year. Profit arose from the final payment from a negligence claim against Grant Thornton, with AssetCo's revenue shown as zero. Company is examining acquisitions in the wealth management sector and hopes to announce further activity in the short term.

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City Pub Group PLC - London-based pub operator - Trading since pubs reopened on April 12 has been "encouraging" at 90% of 2019 level. Expects trading to increase to more than the 2019 level once remaining pandemic restrictions are lifted on July 19. Buys freehold of the Roundhouse in Wandsworth, London, for GBP1.1 million.

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CC Japan Income & Growth Trust - investor in Japanese stocks - Net asset value per share rises to 154.8p at April 31, from 136.8p at October 31. Pretax profit GBP29.3 million versus a loss of GBP35.0 million year-on-year. Firm benefited from a rotation to cyclical and value stocks in Japan.

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By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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EARNINGS AND TRADING: AssetCo deputy retiring, Chapel Down ups revenue

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AssetCo shares down as annual loss widens, but managed assets rise

(Alliance News) - AssetCo PLC on Monday reported significantly higher administrative costs and a plunge in finance income in its recent financial year, which together more than offset a surge in revenue.

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IN BRIEF: Hipgnosis Songs Fund adds Harwood founder Mills to board

Hipgnosis Songs Fund Ltd - London-based music intellectual property rights investor - Hires Christopher Mills, the founder of Harwood Capital Management and co-founder JO Hambro Capital Management, as an independent non-executive director, starting Friday. Mills currently is chief executive officer and investment manager of North Atlantic Smaller Cos Investment Trust PLC, and is on the boards of MJ Gleeson PLC, AssetCo PLC, and Oryx International Growth Fund Ltd. Mills holds no shares in Hipgnosis.

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Princess Private Equity appoints Peter McKellar as non-executive chair

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6 Oct 2023 15:16

AssetCo agrees to transfer interest in RMI to its managing partner

(Sharecast News) - AssetCo and its fully-owned subsidiary River & Mercantile Holdings announced an agreement on Friday to transfer its corporate partnership interest in River and Mercantile Infrastructure Income Fund's investment adviser, RMI, to a partnership within RMI helmed by managing partner Ian Berry.

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AssetCo to sell stake in River & Mercantile Infrastructure for GBP1

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AssetCo buys Ocean Dial for 1.5 million shares and GBP2.5 million cash

(Alliance News) - AssetCo PLC on Monday said that it has bought Ocean Dial Asset Management Ltd from Avendus Capital Asset Management (UK) Ltd, following clearances from regulators.

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2 Oct 2023 10:26

AssetCo acquires Ocean Dial Asset Management

(Sharecast News) - Wealth management firm AssetCo has now acquired Ocean Dial Asset Management from Avendus Capital following confirmation of relevant clearances from the FCA and Indian regulators.

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20 Sep 2023 18:25

IN BRIEF: AssetCo sells its 70% interest in Rize ETF; hails Parmenion

AssetCo PLC - London-based asset management fund - Sells 70% stake in specialist thematic ETF issuer Rize ETF Ltd to ARK Invest LLC for an upfront payment of GBP2.6 million, a deferred payment of GBP2.6 million and an earn out provision, capped at GBP5.3 million, which will operate over 5 years. "The sale agreement accelerates the delivery of the potential of this fundamentally attractive business. Rize will become the hub for ARK's expansion into Europe and AssetCo is delighted to be aligned with ARK's and Rize's future success, both through the mechanism of the earn out agreement and the on-going ETF partnership," AssetCo says. Further, notes media reports about the value of its 30% equity interest in Parmenion that it bought for GBP20.6 million in October 2021. Parmenion "has traded strongly in terms of assets under management," AssetCo says. Adds that its equity interest in Parmenion has a current value of between GBP75 million and GBP90 million.

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AssetCo gets FCA go-ahead for Ocean Dial acquisition

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AssetCo notes UK FCA approval for GBP4.1 million acquisition

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IN BRIEF: AssetCo says CEO to leave after "extremely demanding" period

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