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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Palace Capital PLC - London-based property investor - In year ended March 31, pretax loss narrowed to GBP9.3 million from GBP35.8 million, as revenue fell 41% to GBP19.6 million from GBP33.0 million year-on-year. 3.75 pence per share final dividend declared, bringing total dividend to 15.00p, unchanged from previous year. Loss on revaluations reported to be GBP15.4 million, although progress made with debt reduction strategy and disposals throughout the period. Asset prices to remain suppressed until interest rates fall and investor confidence returns, says Chair Steven Owen.
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Versarien PLC - Gloucestershire-based engineering materials group operating nine subsidiaries - In the six months ended March 31, pretax loss narrowed to GBP1.8 million from GBP3.4 million the year prior. Revenue falls 4.6% to GBP2.5 million from GBP2.6 million. Management shifting focus to core graphene business and expects losses to continue falling, aided by growing interest in licensing opportunities.
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EnergyPathways PLC - West Sussex-based energy transition company - In 2023, pretax loss widened to GBP1.9 million from GBP1.3 million the year before. Reverse acquisition expense GBP1.0 million incurred during the year, meanwhile operating loss narrows to GBP631,424 from GBP1.0 million. Total assets increase to GBP3.1 million from GBP548,332. Management says 2023 was a transformative period and the company is poised for growth as it expands portfolio of production and storage licences with an emphasis on sustainable development.
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Downing Strategic Micro-Cap Investment Trust PLC - London-based investor focused on small and undervalued companies - Net asset value per share 65.71 pence each at February 29, down 16% year-on-year against FTSE AIM Index Total Return which fell by 13%. Chair Hugh Aldous says: "Since the shareholders voted for a managed wind-down of the trust, the managers have executed the strategy of exiting the investments exceedingly efficiently, extracting the maximum return for investors."
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RentGuarantor Holdings PLC - London-based rent guarantee service in UK private rental sector - In 2023, pretax loss widens to GBP1.2 million from GBP910,778 the year prior. Total revenue increased 79% to GBP741,028 from GBP414,078, as admin expenses rise 17% to GBP1.4 million from GBP1.2 million. Management says the geopolitical environment was difficult to anticipate and expects interest rates to remain high.
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Seraphim Space Investment Trust PLC - World's first space technology investment trust based in London - In third quarter ended March 31, net asset value up 0.8% to 95.37 pence per share from 94.57p year-on-year. Portfolio valuation increased 1.4% to GBP200.8 million from GBP198.0 million, driven by a GBP1.9 million fair value gain and a small foreign exchange gain. Chair Will Whitehorn says: "we are satisfied that SSIT continues to have the cash reserves required to meet the anticipated funding needs of the portfolio for the year ahead and beyond."
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By Elijah Dale, Alliance News reporter
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