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Pin to quick picksAnglesey Mining Share News (AYM)

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EARNINGS: Migo underperforms benchmark, Blackrock Income grows value

Wed, 27th Dec 2023 12:21

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued in the past week and not separately reported by Alliance News:

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Anglesey Mining PLC - Base metals miner with operations in North Wales, Sweden and Canada - Pretax loss for the six months to September 30 widens to GBP604,787 from GBP468,656 the prior year. Expenditure on the mineral properties reduces to GBP174,748 from GBP320,887, although this is primarily due to a cessation in Parys Mountain drilling activity. Firm continues to "firmly believe" it is well-positioned to advance its key Parys Mountain and Grangesberg projects next year, and expects drilling at Parys's Northern Copper Zone to generate strong results. Is encouraged by rising investor interest despite global uncertainties and "difficult" markets.

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Blackrock Income & Growth Investment Trust PLC - London-based investment trust - Net asset value at October 31 is 194.90 pence per share, up from 191.63p at the same time one year prior. Delivers positive 5.2% total return for the year that ended on October 31, compared with the prior year's negative 2.3%. Benchmark FTSE All-Share Index delivers positive 5.9%, following negative 2.8%. Declares 4.8p per share final dividend, up from 4.7p. Total payout increases to 7.4p from 7.3p. Blackrock Income & Growth says it has "every confidence" going into 2024 in its portfolio managers, who "remain cautiously positioned" but "believe that the UK market offers a wealth of opportunity".

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Hargreave Hale AIM VCT PLC - venture capital trust investing primarily in companies listed on the AIM market in London - NAV per share drops to 46.34p at September 30 from 60.19p one year prior. Total return for the year ended September 30 is negative 15%, following the prior year's negative 33%. Total dividend decreases to 5.0p from 6.65p. Declares 1.50p final dividend, down from 2p the year before. Expects monetary policy to "become more accommodating" as year progresses, laying groundwork for a "sustainable recovery in value".

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Migo Opportunities Trust PLC - London-based investment company with global and Japan-specific portfolios - NAV decreases 2.9% to 319.2p per share at October 31, from 328.6p at April 30. Delivers negative 1.9% dividend-adjusted total return for the six months ended October 31, while benchmark Sonia Plus 2% achieves positive 3.5%. Says 2023 was "a year of significant change" with widening discounts "presenting numerous attractive investment opportunities". Adds that portfolio is well-positioned for future growth.

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Thames Ventures VCT 1 PLC - venture capital trust - NAV decreases to 48.5p at September 30, from 58.8p at the same time in 2022. Declares 1.0p per share interim dividend, down from 1.5p. Notes a "large reduction" of GBP4.1 million in the valuation of Cornelis Networks Inc. Says business are still facing challenges in the UK and internationally, and will monitor portfolio companies closely to ensure macroeconomic difficulties are addressed appropriately.

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Walls & Futures REIT PLC - London-based designer and developer of specialist social housing - NAV per share falls to 87p at September 30, from 89p at March 31. Swings to pretax profit of GBP46,186 for the half year ended September 30, following the previous year's GBP36,686 loss. Rents received rise to GBP62,407 from GBP57,699. Says however that it will not achieve restructuring and capital raise in time for Christmas. Intends to raise GBP10 million in funding for social infrastructure assets in 2024, to ensure that a dividend can be paid. Plans to launch a GBP200 million institutional fundraise in the medium-term future, and move to the main market.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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