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Share Price: 104.50
Bid: 104.00
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Change: -2.00 (-1.88%)
Spread: 1.50 (1.442%)
Open: 106.50
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TRADING UPDATES: Begbies Traynor backs outlook; Elixirr revenue jumps

Mon, 27th Feb 2023 14:51

(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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Forward Partners Group PLC - early-stage technology-focused investor - Says the fair value of its portfolio falls 40% to no less than GBP79.0 million at December 31, from GBP117.1 million a year before. Net asset value per share is expected to plunge to 71.0p from 104p a year before. The investment firm blames valuation headwinds, "due to public market and macroeconomic pressures". "Despite the pressure on valuations many of them still grew rapidly," says Chief Executive Nic Brisbourne. Adds that companies continue to raise but at a slower rate than 2021.

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Begbies Traynor Group PLC - Manchester-based business recovery, financial advisory and property services consultancy - Says its business recovery & financial advisory division continues to trade in line with expectations in the third quarter ended on January 31. Keeps 2023 outlook unchanged and remains confident of delivering market expectations for the full year, which stands in the range of GBP117.7 million to GBP121.4 million. Analyst forecasts for adjusted pretax profit stands in the range of GBP19.7 million to GBP20.6 million.

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Elixirr International PLC - London-based management consultancy - Says 2022 was a strong year, with all metrics to be "in line or above" market expectations. Revenue is expected to rise 40% to GBP70.7 million, within previous guidance, and adjusted earnings before interest, tax, depreciation and amortisation is expected at GBP20.4 million - which is in line with Elixirr's guidance of exceeding GBP20 million. Says 2023 has started "strongly" with an acceleration of organic growth in the first quarter, and January seeing record monthly revenue. Elixirr says it will recommend a final dividend of 10.8 pence per share in June.

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i3 Energy PLC - Hampshire, England-based oil and gas company, with assets and operations in the UK and Canada - Says production in the fourth quarter of 2022 averages 22,757 barrels of oil equivalent per day, up 11% compared to the third quarter. Current output stands at 23,440 boepd. "Q4 2022 was very busy as we completed our 2022 drilling programme which met management expectations, was executed under budget and achieved peak production rates in excess of 24,000 boepd," Chief Executive Officer Majid Shafiq says.

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By Xindi Wei, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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