(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Literacy Capital PLC - investor in unlisted UK companies - Portfolio company Hometree completes funding round, more than quadrupling the value of Literacy Capital's stake. "The estimated uplift from this transaction relative to Literacy Capital's net asset value at 30 June 2021 is approximately 2.5%, or 4.5p per share." Literacy Capital does not take part in the funding round for Hometree, a boiler insurance provider.
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Standard Life Private Equity Trust PLC - investor in private equity funds - Net asset value per share increases 11% to 630.6p on June 30, from 568.4p on March 31. Realised gains and portfolio income in the quarter totalled GBP31.3 million, while unrealised gains totalled GBP66.7 million in constant currency. NAV per share as of August 31 also is due to be announced Wednesday.
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Agriterra Ltd - palm oil, corn and beef farmer in Mozambique - Expects to report USD13.4 million revenue for the financial year ended March 31, up 11% from USD12.9 million the previous year. Does not give an estimate for pretax profit. Full results expected to be released in October, after auditors in Mozambique were delayed by lockdown. Performance in the second half, and the first half of financial 2022, was affected by "several unanticipated external factors" including the strengthening of Mozambique's currency, a third Covid wave, delays to the corn crop, and escalated conflicts in the north of the country. "Grain, Beef and Snax sales have however been encouraging" in the first half of financial 2022.
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Fulcrum Utility Services Ltd - Sheffield-based utility infrastructure and services - Trading in the first half, which ends Thursday, is in line with management's expectations. Order book grows 45% to GBP81.1 million on August 31 from GBP56.1 million on March 31. "The extremely strong market drivers presented by the UK's energy transition continue to provide clear and significant growth opportunities for Fulcrum."
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FRP Advisory Group PLC - London-based corporate finance, restructuring and debt adviser - Declares interim dividend of 0.8 pence per share for the first quarter of the 2022 financial year. Trading in the 2022 financial year ending April 30 remains in line with the board's expectations. Corporate finance unit closes 32 transactions worth GBP901 million in total in the financial year to date, and has a "very healthy pipeline". Expects many industries to require FRP's services because of inflation, supply chain problems and the unwinding of government support.
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Red Rock Resources PLC - gold explorer in Australia, Kenya and Ivory Coast - Sells substantial part of Jupiter Mines Ltd stake in Australian Securities Exchange transactions averaging AUD0.304 per share. Total proceeds AUD2.3 million, about GBP1.2 million. "Our ability to raise over a short period a sum in excess of GBP1.0 million from our share portfolio demonstrated the company's ability to respond to events and to strengthen its liquidity from internal sources as required," Chair Andrew Bell says. "Red Rock retains other listed holdings, or holdings in companies approaching listing, in businesses where it has played a strategic role...Further announcements will be made in relation to these in due course."
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By Ivan Edwards; ivanedwards@alliancenews.com
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