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Pin to quick picksInt.biotech. Share News (IBT)

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Share Price: 626.00
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International Biotechnology is an Investment Trust

To achieve capital growth through investing in high growth, development stage biotechnology companies.

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EARNINGS SUMMARY: Vulcan Industries and Wildcat Petroleum narrow loss

Tue, 01st Nov 2022 14:48

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Bowleven PLC - Africa-focused oil and gas exploration firm focussed on Cameroon - Pretax loss in the financial year that ended June 30 widens to USD2.5 million from USD2.0 million a year prior. Posts no revenue, unchanged. Reports a negative finance & other income of USD108,000, swinging from a gain of USD820,000 a year ago. Looking ahead, firm says it is currently discussing debt and equity issues and hybrid debt instruments to raise more funding during early 2023. Bowleven ends its financial year 2022 with USD1.3 million of cash and a financial investment of USD2.2 million.

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International Biotechnology Trust PLC - London-based investment trust managed by SV Health Managers LLP - Net asset value per share at August 31 falls 11% to 697.2 pence from 782.4p a year ago. NAV total return turns to negative 6.9% from positive 9.8% a year prior. Chair Jim Horsburgh announces his retirement at the conclusion of the annual general meeting on December 6 after nine years at the board. New chair will be Kate Cornish-Bowden, who has been on the board since 2020. "With the fundamentals for the biotechnology sector looking attractive, I am optimistic that the company can look to the future with confidence," says outgoing Chair Horsburgh.

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Vulcan Industries PLC - London-based engineering services firm - Pretax loss in the half-year that ended September 30 narrows to GBP547,000 from GBP609,000 a year prior. Revenue jumps to GBP1.2 million from GBP491,000. Cost of sales widen to GBP929,000 from GBP436,000. The company believes the planned acquisition of Peregrine X Ltd will help Vulcan become a profitable trading business in the next years. On October 14, Vulcan said it will buy the developer of an analytical tool and algorithms for a total consideration of GBP5.0 million.

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Wildcat Petroleum PLC - Uxbridge, England-based company targeting investment opportunities in the upstream sector of the petroleum industry, namely the exploration, appraisal, development and production of oil and gas - Pretax loss in the financial year that ended June 30 narrows to GBP305,744 from GBP459,646 a year prior. Notes that it raised money in its financial fourth quarter "to fund its ongoing and project start-up costs". Further, on Thursday last week firm said it is placing 18.0 million new shares at 1.25 pence each to raise GBP225,000, or net GBP211,970. The placing is for strengthening its balance sheet "in difficult market conditions," Wildcat Chair Mandhir Singh says.

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By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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28 Oct 2013 11:42

International Biotechnology Trust Sees Increases In NAV And Total Assets

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1 Feb 2012 14:27

Hydrodec CEO marks arrival, GSK associate stocks up

The new Chief Executive of Hydrodec has topped up his stake in the firm with Β£51,000-worth of shares, less than a month since he took up his new post. Ian Smale, whose appointment was announced in early November, bought 400,000 shares at 12.75p each. In January the company announced that its rev

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8 Jul 2010 10:44

International Biotechnology Trust NAV/Share 168.2P

LONDON (Dow Jones)--International Biotechnology Trust PLC (IBT.LN) said Thursday its net asset value per share at May 31 was 168.2 pence, compared with 164.1 pence at Feb. 28. MAIN FACTS: -Total Net Asset Value GBP102.7 million (Feb. 28: GBP101.1 million) -Shares at 0945 GMT flat at 139.

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29 Jun 2010 15:35

SV Life Sciences' Fifth Fund Raises $523M For Investments

LONDON (Dow Jones)--Venture capital firm SV Life Sciences Tuesday said it agreed to raise $523 million for its fifth fund dedicated to investing in life science companies like drug developers and medical device firms. The money raised exceeded the company's target of $400 million and SV Life Sci

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24 Jun 2010 16:03

International Biotechnology Buys 20,000 In Own Shares

LONDON (Dow Jones)--International Biotechnology Trust Plc (IBT.LN), announced Thursday it purchased 200,000 of its own ordinary shares of 25 pence each at 142.00 pence per share and the company intends to hold these shares in treasury. MAIN FACTS: -Shares at 1502 GMT stood at 143 pence.

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9 Apr 2010 05:49

Friday tips round-up: Misys, UK Mail, Intercede

Misys is in good health but the Independent says it has had a very good run from these shares and anyone who got in below 129.5p could happily take profits. However, that would miss out on a banking recovery, which will happen before too long, so hold. UK Mail has a low-cost network, growing market

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2 Dec 2009 16:32

Britvic directors cash in

Fizzy drinks maker Britvic's chief executive and finance director have taken up shares and sold the share options for a second day running. The latest sales are of shares acquired under the Britvic Performance Share Plan at no cost. Chief executive Paul Moody was awarded 84,694 shares and sold 34,

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