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Share Price: 41.15
Bid: 40.95
Ask: 41.20
Change: 1.15 (2.88%)
Spread: 0.25 (0.611%)
Open: 39.80
High: 41.20
Low: 39.40
Prev. Close: 40.00
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Gresham House Energy Storage is an Investment Trust

To provide an attractive and sustainable dividend over the long term by investing in a diversified portfolio of utility scale operational energy storage systems, which utilise batteries and generators, located in Great Britain.

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TRADING UPDATES: LSL Property profit surges despite lower revenue

Wed, 28th Apr 2021 16:35

(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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LSL Property Services PLC - Newcastle-upon-Tyne, England-based estate agency - For 2020, pretax profit rises 31% year-on-year to GBP20.9 million from GBP16.0 million, driven by improved growth in Financial Services and Surveying. Underlying operating profit were up 12% at GBP41.5 million from GBP37.0 million, in spite of revenue declining 14% to GBP266.7 million from GBP311.1 million due to the planned reduction of 164 estate agency branches to reshape the Your Move & Reeds Rains network and Covid-19. No final dividend declared for 2020 but dividend payments are expected to recommence in the second half of 2021

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French Connection Group PLC - London-based fashion retailer - For the year ended January 31, pretax loss widened to GBP19.7 million from GBP7.3 million the year before, driven by a 40% fall in revenue from continuing operations to GBP71.5 million from GBP119.9 million, as the Covid-19 pandemic causes store closures and reduced demand from wholesale customers.

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Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - For the six months ended March, revenue declines 62% year-on-year to GBP868,000 from GBP2.3 million, reflecting the low opening order book of GBP633,000 and delays in several important projects due to continued measures by governments to fight the pandemic. As a result, swings to pretax loss of GBP201,000 from profit of GBP180,000. Looking ahead, expects stronger second half due to pipeline of new business. Also receives order for 30 portable X-ray systems, specifically the ThreatScan-LS1 system. The systems will be delivered to a government customer in Asia.

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Ceiba Investments Ltd - investment firm dedicated to investing in Cuba, with interests in the commercial and tourism real estate sectors - As at December 31, net asset value per share at 103.8p, down from 114.5p the same date the year before. Meanwhile, NAV per US dollar share also dropped year-on-year to USD1.41 from USD1.50.

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Brave Bison Group PLC - London-based social video company - For 2020, pretax loss narrows to GBP2.3 million from GBP3.3 million due to lower administrative costs and impairment charges. However revenue declines 14% year-on-year to GBP14.5 million from GBP16.8 million, due to a reduction in revenue from Facebook, following a change on the social network's monetisation policies, starting from April 2019. Looking ahead, trading for the first quarter of 2021 has been strong, leading to management optimism for the year as a whole.

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Tissue Regenix Group PLC - Leeds-based medical devices for regenerative medicine - For 2020, pretax loss widens to GBP10.2 million from GBP7.7 million the year before, due to a rise in administrative expenses, while revenue dropped 2% year-on-year to GBP12.8 million from GBP13.0 million due to a decline in the DermaPure portfolio, as a result of the cessation in US elective surgeries.

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Gresham House Energy Storage Fund PLC - London-based utility-scale battery storage fund - As at December 31, net asset value per share up 2.2% to 102.96 pence from 100.79p the same date the year. Underlying portfolio earnings before interest, tax, depreciation and amortisation more than doubled for 2020 to GBP15.8 million from GBP6.7%, while revenue grew 89% to GBP19.0 million, driven by Frequency Response services. Meanwhile, total operational capacity rose to 315 megawatts from 174 megawatts.

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1Spatial PLC - Cambridge-based location data software provider - For the year ended January 31, pretax loss narrows to GBP1.4 million from GBP1.7 million, as revenue grows 5% year-on-year at GBP24.6 million from GBP23.4 million, through new customer wins in all regions, including the US state of Michigan, and the Environment Agency in the UK. For the 2021 financial year, trading is in line with management expectations.

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AB Dynamics PLC - Wiltshire, England-based simulation and testing systems provider - For the six months ended February 28, pretax profit falls to GBP1.4 million from GBP3.7 million the year before, as revenue declined 21% year-on-year to GBP27.3 million from GBP34.7 million, as in spite of a recovery in order intake and customer activity, testing operations remain constrained by Covid-19. Resumes interim dividend at 1.6 pence per share.

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Great Western Mining Corp PLC - mineral exploration and development company with gold, silver and copper assets in the US - For 2020, loss widens to EUR852,042 from EUR815,795 the year before, while cash position as at December 31 rose to EUR2.3 million from EUR306,675. Concerning the company's programme in Mineral County, Nevada, drilling has progressed rapidly, with four holes completed at Trafalgar Hill, with positive initial indications of structure and strike length.

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Pires Investments PLC - invests in companies that have the potential for major transformation and exponential growth - For the 14 months ended December 31, net asset value rises 14% to GBP2.9 million from GBP2.5 million for the year ended October 31, 2019. Due to GBP149,000 loss on fair value of investments, Pires swings to pretax loss of GBP687,000 from profit of GBP866,000.

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Home REIT PLC - investor focused on properties across the UK that are dedicated to providing accommodation for the homeless - For the period from August 19, 2020 to February 28, posts a maiden pretax profit of GBP11.4 million, and total income of GBP3.1 million. Declares interim dividend of 0.83 pence per share, and is on-track for total payout of at least 2.5p.

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SimiGon Ltd - Orlando-based simulation training solutions provider - For 2020, pretax loss widens to USD2.2 million from USD1.5 million the year before, as revenue declined % year-on-year to USD3.2 million from USD4.9 million, driven by a decrease reflecting slower progress in delivering against project milestones due to Covid-19 restrictions.

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HeiQ PLC - Zurich-based textiles technology firm - For 2020, pretax profit rises sharply to USD7.0 million from USD1.0 million, on revenue that grew 80% year-on-year to USD50.4 million from USD28.0 million, driven by a 16% rise in HeiQ Smart Temp sales, the launch of HeiQ Viroblock and entry into the medical device market.

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Altus Strategies PLC - Africa-focused mining royalty company - For 2020, pretax loss narrows to GBP2.1 million from GBP2.4 million, as revenue rose sixfold year-on-year to GBP361,425 from GBP59,911. During the year, for Diba gold project in Mali was given a mineral resource estimate comprising 4.83 million tonnes at 1.39 grams per tonne of golf for 217,000 ounces in the Indicated category.

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Mosman Oil & Gas Ltd - New South Wales-based oil exploration, development and production company - For six months to December 31, net loss narrows to AUD708,822 from AUD4.3 million the year before, due to impairment charges in the prior year, while revenue declined to AUD383,138 from AUD998,369. Revenue was affected by lower production driven by Covid-19 constraints and some output challenges. Net production to Mosman was 9,871 barrels of oil equivalent.

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Fintel PLC - Huddersfield-based business services provider to financial advisers - For the first quarter of 2021, trading is robust, increasing its overall confidence for the full year.

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President Energy PLC - oil and gas company focusing on Latin America - Notes drilling of new well EV-1001, on time and on budget. Electric and mud logs indicate net gas pay as expected and support pre-drill projection of an initial production of 60,000 cubic metres per day. Completion of new well LB-1002 is currently in progress, with further news expected at the start of May.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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11 Apr 2024 08:59

LONDON BROKER RATINGS: JPMorgan raises M&S; HSBC likes Kingfisher

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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23 Feb 2024 10:43

IN BRIEF: Gresham House Energy Storage Fund new contracts grow NAV

Gresham House Energy Storage Fund - London-based Investment fund with a portfolio of utility-scale battery energy storage systems - Says that Tuesday's T-1 capacity markets auction cleared "slightly higher than expected" at a price of GBP35.79 per kilowatt. Gresham says it has secured additional 1-year contracts across 13 of its projects, with a total derated capacity of 90.491 megawatts. These additional contracts will bring in GBP3.2 million in additional revenue from October 2024 to September 2025, Gresham says. The NAV benefit from these contracts will be recognised at the company's next valuation date of March 31.

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2 Feb 2024 08:37

IN BRIEF: Gresham House Energy Storage Fund announces share buyback

Gresham House Energy Storage Fund PLC - fund which invests for income from utility-scale battery energy storage systems - Announces start of share buyback programme for up to 14.99% of shares, which the firm intends to review "on an ongoing basis". The maximum price payable per share, Gresham says, will not exceed the higher of "105% of the average market value of the company's shares for the five business days immediately preceding the day on which such share is contracted to be purchased; or the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange".

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1 Feb 2024 11:08

Gresham House Energy favours buyback over payout; commissioning slow

(Alliance News) - Gresham House Energy Storage Fund PLC on Thursday said it decided against declaring a dividend for the fourth quarter of 2023 as it continued to be hurt by a weak revenue environment.

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1 Feb 2024 07:42

LONDON BRIEFING: Shell profit falls; announces USD3.5 billion buyback

(Alliance News) - Stocks in London are set to follow New York into the red, after the US Federal Reserve quashed hopes of a March cut to interest rates and ahead of the Bank of England interest rate decision.

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15 Dec 2023 12:37

IN BRIEF: Gresham House Energy Storage happy with new UK grid platform

Gresham House Energy Storage Fund PLC - invests for income from utility-scale battery energy storage systems; managed by Gresham House - Predicts more revenue opportunities for its battery assets from the launch by the UK power grid operator of the new Open Balance Platform and Bulk Dispatch Optimiser. The investment fund says the National Grid Electricity System Operator has started to trade battery energy storage systems in the Balancing Mechanism. "It is too early to point to the specific revenue impact, but the initial indications are positive and, based on provisional data, are expected to lead to increased revenue opportunities for our assets," the company says, adding it will add more of its assets into the Balancing Mechanism in December and in the first quarter of next year.

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21 Nov 2023 11:02

IN BRIEF: Gresham House Energy Storage energises West Didsbury project

(Alliance News) - Gresham House Energy Storage Fund PLC on Tuesday said it has successfully energised its West Didsbury project near Manchester, England.

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27 Sep 2023 11:05

Gresham House Energy net assets down on weaker trading

(Alliance News) - Gresham House Energy Storage Fund PLC on Wednesday reported a negative net asset value total return in the first half of the year due to lower demand and unsteady prices.

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27 Sep 2023 07:47

LONDON BRIEFING: Flutter buys MaxBet stake; LandSec sees strong demand

(Alliance News) - Stocks in London are set to open lower on Wednesday as investors remained in a risk-off mood amid the prospect of interest rates staying higher for longer in the US.

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7 Sep 2023 14:07

Gresham House Energy Storage optimistic despite net asset value fall

(Alliance News) - Gresham House Energy Storage Fund PLC on Thursday reported a lower net asset value but touted optimism in its outlook and raised its dividend.

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17 Jul 2023 17:44

UPDATE: Gresham House backs GBP470 million takeover from Searchlight

(Alliance News) - Gresham House Energy Storage Fund PLC on Monday noted that Gresham House PLC has agreed to be taken over by Searchlight Capital Partners LP.

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22 Jun 2023 15:44

UK shareholder meetings calendar - next 7 days

Friday 23 June 
Cadogan Petroleum PLCAGM
Mears Group PLCAGM
Non-Standard Finance PLCAGM
Ocean Harvest Technology Group PLCAGM
Oxford Biomedica PLCAGM
Pelatro PLCAGM
Petrofac LtdAGM
Princess Private Equity Holding LtdAGM
Rathbones Group PLCGM re agreement regarding all-share combination with Invested Wealth & Investment Ltd
Supply@Me Capital PLCGM re open offer warrantholders
Vietnam Enterprise Investments LtdAGM
VPC Specialty Lending Investments PLCAGM
Monday 26 June 
Aterian PLCAGM
Capricorn Energy PLCAGM
Corre Energy BVAGM
Facilities by ADF PLCAGM
Lexington Gold LtdSGM re proposed acquisition of White Rivers Exploration Ltd
LifeSafe Holdings PLCAGM
Premier African Minerals LtdAGM
Vast Resources PLCGM re issuing new share capital
Volvere PLCAGM
Tuesday 27 June 
Acuity RM Group PLCAGM
Comptoir Group PLCAGM
Creo Medical Group PLCAGM
First Tin PLCAGM
Forward Partners Group PLCAGM
Galantas Gold CorpAGM
Gemfields Group LtdAGM
Golden Prospect Precious Metals LtdAGM
Hamak Gold LtdAGM
ICG Enterprise Trust PLCAGM
Impellam Group PLCAGM
India Capital Growth Fund LtdAGM
Inspiration Healthcare Group PLCAGM
Instem PLCAGM
JD Sports Fashion PLCAGM
Kingfisher PLCAGM
Mercantile Ports & Logistics LtdGM re equity fundraising
Mobile Tornado Group PLCAGM
Revolution Beauty Group PLCAGM
Scottish Mortgage Investment Trust PLCAGM
Serabi Gold PLCAGM
Sondrel Holdings PLCAGM
Surface Transforms PLCAGM
Surgical Innovations Group PLCAGM
Trinity Exploration & Production PLCAGM
Wednesday 28 June 
Atalaya Mining PLCAGM
Avacta Group PLCAGM
Boku IncAGM
Cambridge Cognition Holdings PLCAGM
Cizzle Biotechnology Holdings PLCAGM
Cobra Resources PLCAGM
Cora Gold LtdAGM
Dial Square Investments PLCAGM
Itaconix PLCAGM
NB Distressed Debt Investment Fund LtdAGM
Panthera Resources PLCGM re directors’ authority to allot shares
Phoenix Spree Deutschland LtdAGM
Pineapple Power Corp PLCAGM
Polarean Imaging PLCAGM
RA International Group PLCAGM
Schroder European Real Estate Investment Trust PLCAGM
Shield Therapeutics PLCAGM
St Mark Homes PLCAGM
Star Phoenix Group LtdAGM
ValiRx PLCAGM
Velocys PLCAGM
Vertu Motors PLCAGM
Warpaint London PLCAGM
Westminster Group PLCAGM
Zenova Group PLCAGM
Thursday 29 June 
3i Group PLCAGM
Africa Opportunity Fund LtdAGM
Anemoi International LtdAGM
Anpario PLCAGM
Ariana Resources PLCAGM
Beowulf Mining PLCAGM
Celadon Pharmaceuticals PLCAGM
Cornish Metals IncAGM
East Imperial PLCAGM
East Star Resources PLCAGM
Eden Research PLCAGM
Engage XR Holdings PLCAGM
First Class Metals PLCAGM
Gresham House Energy Storage Fund PLCGM re remuneration policy
Gusbourne PLCAGM
HeiQ PLCAGM
Helios Underwriting PLCAGM
Ingenta PLCAGM
IQE PLCAGM
Kooth PLCAGM
Landore Resources LtdAGM
Let's Explore Group PLCAGM
Likewise Group PLCAGM
MGC Pharmaceuticals LtdGM re issue of convertible notes
Morgan Advanced Materials PLCAGM
NetScientific PLCAGM
New Century AIM VCT 2AGM
Norman Broadbent PLCAGM
Reabold Resources PLCAGM
Rockhopper Exploration PLCAGM
Roquefort Therapeutics PLCAGM
Serica Energy PLCAGM
SpaceandPeople PLCAGM
Symphony Environmental Technologies PLCAGM
Synairgen PLCAGM
Thalassa Holdings LtdAGM
tinyBuild IncAGM
Touchstone Exploration IncAGM
Trident Royalties PLCAGM
Unigel Group PLCAGM
Verici Dx PLCAGM
Xpediator PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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25 May 2023 10:33

IN BRIEF: Gresham House Energy Storage raises funds for Project Iliad

Gresham House Energy Storage Fund PLC - London-based specialist alternative asset manager - Raises GBP50 million through issue of 32 million new ordinary shares at 155.5 pence each. Says funds raised will be used towards its Project Iliad acquisition, a 160 megawatts solar battery energy storage project in California.

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23 May 2023 15:46

UK shareholder meetings calendar - next 7 days

Wednesday 24 May 
4imprint Group PLCAGM
Adriatic Metals PLCAGM
Arbuthnot Banking Group PLCAGM
Artisanal Spirits Co PLCAGM
Bango PLCAGM
Coca-Cola Europacific Partners PLCAGM
Deliveroo PLCAGM
Deltic Energy PLCAGM
Distribution Finance Capital Holdings PLCAGM
Dunedin Enterprise Investment Trust PLCAGM
ECSC Group PLCCourt and General Meetings re Daisy Corporate Services Trading Ltd takeover
Empiric Student Property PLCAGM
Fidelity Japan Trust PLCAGM
HICL Infrastructure PLCAGM
Horizonte Minerals PLCAGM
Intertek Group PLCAGM
Ithaca Energy PLCAGM
Kelso Group Holdings PLCAGM
Lookers PLCAGM
M&G PLCAGM
Mercantile Investment Trust PLCAGM
Microlise Group PLCAGM
Mortgage Advice Bureau Holdings PLCAGM
National World PLCAGM
Ondine Biomedical IncAGM
Petershill Partners PLCAGM
Playtech PLCAGM
Quarto Group IncAGM
Real Estate Investors PLCAGM
RHI Magnesita NVAGM
Tullow Oil PLCAGM
US Solar Fund PLCAGM
Zotefoams PLCAGM
Thursday 25 May 
Alliance Pharma PLCAGM
Biome Technologies PLCAGM
Capital & Regional PLCAGM
Destiny Pharma PLCAGM
Ferrexpo PLCAGM
Fevertree Drinks PLCAGM
Headlam Group PLCAGM
Henry Boot PLCAGM
Hill & Smith PLCAGM
LBG Media PLCAGM
Life Science REIT PLCAGM
LSL Property Services PLCAGM
NAHL Group PLCAGM
Petrofac LtdAGM
Pharos Energy PLCAGM
Prudential PLCAGM
Regional REIT LtdAGM
Resolute Mining LtdAGM
RM PLCAGM
S&U PLCAGM
Sabre Insurance Group PLCAGM
Schroder Asian Total Return Investment Co PLCAGM
TBC Bank Group PLCAGM
Vanquis Banking Group PLCAGM
Zinc Media Group PLCAGM
Friday 26 May 
AG Barr PLCAGM
Argos Resources LtdGM re disposal and cancellation
Bank of Cyprus Holdings PLCAGM
Fox Marble Holdings PLCGM re admission on AIM and acquisition of Eco Buildings Group Ltd
Glencore PLCAGM
Itsarm PLCGM re delisting from AIM
Keywords Studios PLCAGM
Let's Explore Group PLCGM re proposed tender offer to purchase shares
NFT Investments PLCGM re shares purchase
Non-Standard Finance PLCAGM
Old Mutual LtdAGM
Solgenics LtdGM re cancellation from admission to trading on AIM
ThomasLloyd Energy Impact Trust PLCAGM
Unbound Group PLCAGM
XLMedia PLCAGM
Monday 29 May 
no events scheduled 
Tuesday 30 May 
Alba Mineral Resources PLCAGM
Aseana Properties LtdAGM
Aseana Properties LtdGM re discontinuation resolution
BioPharma Credit PLCAGM
Gresham House Energy Storage Fund PLCAGM
Integrated Diagnostics Holdings PLCAGM
Maintel Holdings PLCAGM
Malvern International PLCAGM
Manx Financial Group PLCAGM
Sportech PLCAGM
Superdry PLCGM re disposal of some IP assets
Watchstone Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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18 May 2023 11:33

IN BRIEF: Gresham House Energy Storage sets GBP80 million fundraise

Gresham House Energy Storage Fund PLC - London-based specialist alternative asset manager - Aims to raise approximately GBP80 million through a share placing and retail offer to fund its Project Iliad acquisition, a 160 megawatts solar battery energy storage project in California. Up to 54.1 million new shares, 10% of the company's current total, will be sold at a fixed price of 155.5 pence per share. Placing will be run by investment bank Jeffries International Ltd. Size of retail offer will be capped at the sterling equivalent of EUR8 million.

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