(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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SEC Newgate SpA - Milan-based communications, advocacy and research firm - Revenue for 2020 grows to EUR65.3 million from EUR47.6 million the year before, with pretax profit more than doubling to EUR3.1 million from EUR1.3 million. "The results, as evidenced by our numbers, are more than satisfactory, indeed they are brilliant: we achieved the profit before tax targets that we forecast before the Covid-19 emergency struck. Above all, the group has demonstrated great resilience," company says. Given "very positive result", recommends final dividend of 0.5 pence per share. Says in "strong" financial position with significant secured pipeline and a strong leadership team. Turnover, profitability, margins and retention rates remain high. "After the positive results of 2020, a strong start to the 2021, the financial consolidation of the Group, and achieving the targets in terms of savings and synergies after 2019's business combination, we are now ready for an even more demanding step forwards which will be to expand our geographical reach, our knowhow - above all in the digital environment - and our financial solidity," says Chief Executive Fiorenzo Tagliabue.
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Schroder AsiaPacific Fund PLC - seeks long-term growth from investments across region's equity markets - Net asset value per share at end of March 670.40p, up significantly on 430.11p a year before and 567.16p at the end of September 2020. Says that during six-month period, NAV total return is 20% and share price total return is 25%, both outperforming benchmark's return of 14%. "Stock markets in Asia rose strongly in the period as the prospect of a successful vaccine rollout buoyed confidence in a recovery in earnings. This positive sentiment was supported by continued liquidity measures and unprecedented levels of fiscal stimulus," company says. Believes region continues to have "outstanding prospects".
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JPMorgan China Growth & Income PLC - invests in Chinese companies - NAV per share 632.5p as at March 31, up from 374.2p the same date a year ago and 565.3p at September-end. "Despite these levels of market volatility and the economic uncertainty that persisted, due to the continuing coronavirus epidemic, I am pleased to report that for the six months period ended 31st March 2021, the company's total return on net assets rose 13.8% (with net dividends reinvested) outperforming the benchmark, the MSCI China Index, which delivered 3.8% (in sterling terms). The total return to shareholders for this period was 13.4%," company says. Continues to believe in long-term growth opportunities from investment in China.
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JPMorgan Asia Growth & Income PLC - invests in Asia-Pacific equities - NAV per share at end of March 487.1p, up from both 421.6p at end of September 2020 and 348.2p at March 31, 2020. In six-month period, return to shareholders was 20%, outperforming benchmark index, the MSCI All Countries Asia ex Japan Index, which returned 14%. NAV return was 18%. "The company's strong performance alongside the attractive yield has fuelled ongoing demand for the company's shares, particularly from retail investors, with such investors now holding just under 45% of the company's share capital," it notes. Says most Asian countries appear to have handled first pandemic wave better than global counterparts, though notes resurgence of cases in India demonstrates risks to economies and markets will remain high until vast majority of world vaccinated.
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Calculus VCT PLC - venture capital trust - Net asset value per share 67.08p at February-end, down from 70.20p a year ago. "Since the February 2020 year end, the NAV per share was revalued to 65.07 pence as announced in March 2020 due to the effects of the global pandemic; however, despite the ongoing disruption due to COVID-19 and the continuing challenges it presents, the board is pleased with the resilience of the company's portfolio and the positive uplifts in the valuations of a number of portfolio companies," it highlights. Proposes final dividend of 3.02p, down 5.6% from 3.20p year before.
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Ediston Property Investment Co PLC - London-based investor in office, retail and industrial commercial property - EPRA net asset value per share 84.26p at end of March, down from 96.23p a year ago and 86.01p at end of September 2020. NAV total return 0.3% over first six months of company's financial year. Says pandemic hit company's activities in first half, particularly as various parts of the country were under strict lockdown conditions for four of the six months of the period. However, Chair William Hill says: "The company has come through the pandemic in a relatively strong position and is well positioned to navigate recovery and to respond to challenges that may lie ahead. The board believes that the case for share price growth is realistic given an attractive yield of 7.2% on the current share price. The improving rental income position should drive further dividend growth."
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Katoro Gold PLC - gold & nickel exploration and development company - Pretax loss for 2020 widens to GBP2.6 million from GBP668,659 the year before, as exploration expenditure rises to GBP1.4 million from GBP102,152. Post-period end, company continues to make "significant progress on all aspects of the business". It adds: "2020 was a year in which Katoro consolidated its strategy and made great strides in its quest to first production. In Tanzania, the company advanced the Haneti polymetallic project and announced at the year-end that drilling had commenced...Furthermore, the company completed technical work related to the upgrade and restatement of the Blyvoor gold tailings project resource statement."
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Team PLC - Jersey-based active fund management firm - Revenue for half-year to March 31 is GBP610,000, up sharply from GBP181,000 a year ago. Pretax loss widens to GBP933,000 from GBP42,000 as operating expenses grow to GBP1.0 million from GBP199,000. Says first six months of year saw "significant progress in the development of the Team business", with successful listing of its shares on London's AIM market in March. Says business well-capitalised with over GBP6 million of available cash following IPO. "In the second half of the financial year our focus will move to re-enforcing client service and investment performance standards, new client development, and the launch of our International Equity Fund. This in addition to building a pipeline of individual and team hires and acquisition opportunities to accelerate asset growth in the Jersey market and beyond," company says.
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Bould Opportunities PLC - in process of changing name to Cizzle Biotechnology Holdings PLC - Pretax loss for 2020 GBP306,000, slimmed from GBP832,000 a year ago. Post year-end, company completes acquisition of Cizzle Biotechnology Ltd. Name is in process of being changed to Cizzle Biotechnology Holdings PLC. Cizzle Biotechnology is in the early stages of developing a blood test for the early detection of a majority of the different forms of lung cancer. "The directors believe that Cizzle Biotechnology presents a compelling potential value opportunity and has a commercial strategy to develop and gain regulatory approval for the test and engage with potential licencing partners to use its patent protected core technology. We look forward to announcing regular updates on our progress," says Executive Chair Allan Syms.
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Metals Exploration PLC - natural resources firm with assets in Pacific Rim - Revenue for 2020 USD122.1 million, up from USD94.3 million the year before. Pretax profit falls to USD9.8 million, however, from USD13.9 million. Books impairment of USD1.3 million, versus USD25 million impairment charge reversal recorded as income for the 2019 financial year. "Operationally, FY2020 saw the company continue to consolidate on the progress and improvements that were made at Runruno during 2019. Despite the restrictions and implications of Covid-19 the focus remained upon improving cash flow generated by the Runruno operation with a continued focus on plant maintenance and reliability. Given this, as mentioned above, it was particularly pleasing to be able to report record gold sales of 20,295 ounces in Q4 2020," Metals Exploration says, adding it is confident for the year ahead.
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By Lucy Heming;Â lucyheming@alliancenews.com
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