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(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Cardiff Property PLC - Surrey, England-based property investor and developer - Says pretax profit in the six months to March rises 19% to GBP780,000 from GBP653,000 a year ago. Revenue rises by 4.7% to GBP355,000 from GBP339,000 a year prior. Raises interim dividend by 8.3% to 6.5 pence per share from 6.0p in the first half of financial 2023. Looking ahead, says future growth prospects are dependent on achieving beneficial planning permissions. Adds that there are a number of projects in progress. Chair Richard Wollenberg says: "New lettings and investment activity in the Thames Valley commercial and residential property sectors marginally increased over the first six months of the financial year. The prospect of lower interest rates has certainly inspired a return of confidence in the property market, although current indications are that an early reduction in the base rate is unlikely. Rental levels in the retail and industrial sectors have stabilised, whilst office rents remain under pressure as many corporate tenants continue to accommodate employees' preference to work from home."
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GCP Asset Backed Income Fund Ltd - Jersey-based investment company - Net asset value at March 31 is 91.25 pence, down 2.1% from 93.21p at December 31. Says reduction in NAV is due to impairments and provisions. Declares a quarterly dividend of 1.58 pence, representing a 9.1% yield. Says it will maintain its annual payout at 6.24p for as long as possible. Chair Alex Ohlsson says: "The board would like to thank shareholders for the constructive feedback provided as part of the shareholder engagement process. The feedback has been invaluable in informing the board's decision-making process and in formulating proposals for an orderly realisation of the company."
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Tekcapital PLC - London-based intellectual property investor - Notes that Innovative Eyewear Inc has launched two new US patent applications. Tekcapital owns a 40% stake in Innovative Eyewear, a Miami-based developed of ChatGPT-enabled eyewear. Says that the two new patent applications are directed to Innovative Eyewear's new Lucyd Armor smart safety glasses product, planned for introduction in mid-2024. Innovative Eyewear Chief Executive Officer Harrison Gross says: "Lucyd Armor smart safety glasses are a unique product and the culmination of rigorous in-house [research & development], which we are thrilled to bring to the personal protective equipment market. We believe these products will deliver a cutting-edge experience to safety glass users around the world, making it easier than ever for industrial workers to communicate handsfree in a wide range of environments."
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Empire Metals Ltd - London-based exploration and resource development company - Notes "exceptional" drill hole results from reverse circulation programme at its Pitfield project in Western Australia. Says drill results confirm widespread high-grade titanium mineralisation. Director Shaun Bun says: "As expected, our recent drilling continues to produce exceptional results and provides further evidence of extensive high-grade titanium mineralisation within our two key target areas. The continuous nature of mineralisation within the sandstone beds, which remains open in all directions and starts at, or near, surface and continues beyond the end of each drillhole, provides an excellent basis for delineating a resource development exploration target which will be the focus of our efforts once we have received all of the remaining RC and diamond drill core analytical results."
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ECO Animal Health Group PLC - London-based animal health company with a portfolio of marketed veterinary products - Says revenue for its financial year ended March 31 is nearly GBP90 million, above market expectations of GBP88.7 million. This would be an increase from GBP85.3 million in financial 2023. Says over-performance in revenue generation was achieved "despite foreign exchange headwinds experienced in the early part of the financial year". On a constant currency basis, the company expects to report revenue growth in excess of 10% for the financial year. Says full-year adjusted earnings before interest, tax, depreciation and amortisation is in line with market expectations of GBP7.8 million. In financial 2023, adjusted Ebitda was GBP7.2 million. CEO David Hallas says: "I am delighted to be able to confirm that ECO has delivered strongly on its profit expectations. We are particularly pleased to have achieved these positive results despite experiencing challenging market conditions, currency headwinds, and while continuing to invest heavily in our promising R&D pipeline, which we believe has significant potential to drive future growth and value for shareholders. We look forward to completing the audit and releasing our annual report and accounts in July."
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Zephyr Energy PLC - oil and gas company focused on resource development from carbon-neutral operations in the Rocky Mountains region in North America - Commences 30-day drilling operation at flagship Paradox project in Utah. CEO Colin Harrington says: "After months of meticulous planning, we are delighted to have commenced full drilling operations with the prime objectives of delivering a safe and timely drilling operation followed by a successful well test. We look forward to providing regular updates as drilling progresses."
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By Sabrina Penty, Alliance News reporter
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