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Pin to quick picksEthernity Net Share News (ENET)

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Share Price: 0.90
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TRADING UPDATES: Foresight, LendInvest report annual rise in funds

Fri, 08th Apr 2022 11:13

(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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Foresight Group Holdings Ltd - infrastructure and private equity investment manager - As at March 31, total asset under management up 21% year-on-year to GBP8.7 billion, while funds under management rise 27% to GBP6.5 billion, mainly on organic growth. Total net inflows and performance for the year rise 57% to GBP1.5 billion from GBP900 million. Core earnings before interest, tax, depreciation and amortisation and revenue are set to be in line with management expectations.

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LendInvest PLC - London-based non-bank mortgage lender - For the year ended March 31, platform assets under management - which represents deployed capital - increases 36% to GBP2.15 billion from GBP1.57 billion, through strong demand for the company's Buy-to-Let offering. In addition, funds under management which reflects committed and deployed capital rises 18% year-on-year to GBP2.94 billion from GBP2.49 billion. Due to the levels of FuM over Platform AuM, and in spite of an increased inflationary environment LendInvest expects pretax profit to be in line with market expectations.

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Argo Blockchain PLC - London-based cryptocurrency miner - In March, mines 163 bitcoin, up from 135 BTC in February, meaning that mining revenue for March amounts to GBP5.2 million, up from GBP4.2 million. As at the end of March, the company owns 2,700 bitcoin. Argo also announces the appointment of Seif El-Bakly as chief operating officer.

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Premier Miton Group PLC - London-based asset manager - As at March 31, closing assets under management at GBP12.8 billion, down 7.9% from GBP13.9 billion at the end of December, as net outflows for the second quarter come to GBP216 million from open-ended funds.

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Ethernity Networks Ltd - Israel-based networking and security company - For 2021, pretax loss widens to USD9.2 million from USD6.3 million the year before, driven by an increase in research & development costs and lower gross margin percentage. Meanwhile, revenue grows 42% to USD2.6 million from USD1.8 million, through recent contracts signed, and orders received on customer deployments. Looking ahead, expects significant revenue growth from its FPGA-based programmable system and FPGA SoC, with 2022 contracted revenue standing at USD4.3 million, and USD5.0 million for 2023.

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Vp PLC - Harrogate-based equipment rental firm - For the period since its interim results were issued at the end of November, the company maintains its recovery in trading performance with its core markets of infrastructure, construction and housebuilding providing increasing levels of demand, leading to anticipation of the company's annual results coming in line with management expectations.

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Ramsdens Holdings PLC - Middlesbrough, England-based financial services provider and pawnbroker - For the six months ended March 31, expects to report pretax profit of around GBP2 million, swinging from a loss of GBP133,000. This is due to a recovery of foreign currency volumes with the easing of international travel, and more than 50% growth in jewellery retail revenue on improved merchandising. As at March 31, pawnbroking loan book rises to GBP7.5 million from GBP5.7 million.

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NFT Investments PLC - invests in non-fungible tokens - For 2021, pretax loss widens to GBP2.8 million from GBP39,704 in 2020, due to costs related to the valuations of warrants issued and two separate fund-raising rounds related to the company's IPO. During the year, made seven investments, however generates no revenue due to being a start-up business.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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(Alliance News) - Ethernity Networks Ltd on Tuesday said it has signed a follow-on contract with an existing customer worth USD4.6 million.

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IN BRIEF: Ethernity shares fall as contract for UEP module cancelled

Ethernity Networks Ltd - Israel-based network data processing technology provider - Says contract with an "Israeli international wireless connectivity vendor" for the provision of its Universal Edge Platform module is cancelled. Says it has been told that the cancellation is due to customer claims of delays in product delivery, an allegation it "strongly rejects".

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IN BRIEF: Ethernity delivers universal edge platform module to client

Ethernity Networks Ltd - Israel-based network data processing technology provider - Says it has now delivered the Universal Edge Platform module adapted for use in conjunction with a wireless backhaul transmission product to customer. Company is now progressing to the production of the remaining UEP modules under the initial committed contract.

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