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Share Price: 185.50
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Change: 7.50 (4.21%)
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Open: 181.00
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EARNINGS: Aurora Investment recovers; Chesnara swings to profit

Thu, 21st Sep 2023 15:47

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

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Aurora Investment Trust PLC - London-based investment trust and alternative investment fund - Net asset value as at June 30 rises to 225.6 pence per share from 203.5p at December 31. NAV total return in the six months is 12%, sharply outperforming its benchmark, the FTSE All-Share Index which returns 2.5%. Looking ahead, Chair Lucy Walker says: "After a difficult 2022, performance so far in 2023 has been promising. We believe there is significant untapped value in UK shares and, with the manager's strategy to invest in great businesses at attractive prices, the company's shares offer an excellent opportunity to access this."

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Bay Capital PLC - Jersey-based investor in industrial, construction and business services sectors - Pretax loss in the first half of 2023 narrows to GBP171,789 from GBP108,394 a year prior. Looking ahead, Chair Peter Tom says the company has "continued to pursue its investment and acquisition strategy and is currently assessing opportunities across the industrial and construction sectors. The directors have identified, and continue to evaluate, a number of successful companies with high quality management teams that are seeking to partner with, and leverage the benefits of, the board's experience and that of the wider Bay team. The directors look forward to updating shareholders on progress in due course." The company does not yet anticipate declaring any dividends.

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Chesnara PLC - Preston, England-based insurance company and pension consolidator - In the first half of 2023, swings to pretax profit of GBP16.0 million from a loss of GBP54.2 million a year prior. Insurance revenue grows 11% to GBP118.0 million from GBP106.7 million. Further, reports net investment return of GBP603.0 million, compared to a net investment loss of GBP1.59 billion year prior. Declares interim dividend of 8.36 pence per share, up 3.0% from 8.12p a year prior. Chesnara's solvency II ratio as at June 30 improves to 205% from 197% at December 31, with its solvency surplus growing to GBP345 million from GBP298 million over the six months. Looking ahead, Chair Luke Savage eyes "strong" future growth and a positive outlook for acquisitions. He says: "We continue to expect the market to be active and our strong and stable solvency, alongside the increased parent company cash balance, leave us well positioned to participate in that market."

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Dunedin Income Growth Investment Trust PLC - Edinburgh-based UK and overseas companies investor - Net asset value per share as at July 31 climbs 3.1% to 312.17 pence from 302.80p at January 31. NAV total return over the six months of 5.5% outperforms its benchmark, the FTSE All-Share index, which returns 0.8%. Dividend for whole of first half totals 6.4p per share, up from 6.0p a year prior. Looking ahead, company says that economic challenges to global growth continue to build after rapid and sustained interest rate increases from central banks across the world, and headwinds in China. Chair David Barron says: "Despite some signs of easing, inflationary pressures remain significant in most economies and supply constraints are placing upward pressure on many commodity prices. In the UK, inflation remains too high and growth too low, albeit there are indications that a trough has been reached and perhaps somewhat ahead of other major economies."

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India Capital Growth Fund Ltd - mid and small cap Indian companies focused investment company - Net asset value as at June 30 climbs 7.6% to 150.68 pence per share from 140.06p at December 31. "Broad based accelerating growth in India has led to strong earnings growth for many Indian companies, large and small," Chair Elisabeth Scott says. Scott adds that inflation is under control despite signs of rising food prices. Scott says: "There has been a revival of interest in Indian equities from international investors which, added to inflows from the domestic market, has contributed to the rise in the market." Looking ahead, company notes India's self-sufficiency in agricultural commodities resulting in a lower risk for high inflation having a detrimental impact upon the Indian economy, compared to other countries.

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Manx Financial Group PLC - Isle of Man-based financial services firm - Pretax profit in the six months to June 30 climbs to GBP3.0 million from GBP2.3 million a year prior. Net interest income jumps 56% to GBP16.4 million from GBP10.5 million. Interest expense increases to GBP5.8 million from GBP2.7 million. Looking ahead, anticipates market conditions to improve in the second quarter of next year as it expects interest rates to start to abate. "This will improve disposable income levels for corporates and individuals alike. Some of the current inflation is not transitory and I expect inflation to remain higher for longer than some economists are currently forecasting. This will be positive for savers, and it should provide a period for lenders to bring their net interest margin back into its more traditional range," Executive Chair Jim Mellon says.

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Sound Energy PLC - London-based, Morocco-focused upstream gas company - In the first half of 2023, turns to pretax loss of GBP8.6 million from a profit of GBP8.6 million a year ago. Reports impairment loss on development assets of GBP4.2 million, swinging from a reversal of impairment of GBP5.4 million. Highlights development of Moroccan Tendrada production concession, where at its Micro liquefied natural gas project expects phase 1 LNG delivery to start in 2024. Further, reports receipt of binding conditioned term sheet in June for the phase 2 gas pipeline development at the project. The term sheet is for project financing from Attijariwafa bank, Morocco's largest bank.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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28 Mar 2024 14:35

EARNINGS AND TRADING: 888 advances US exit; Arrow ups reserve estimate

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

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12 Feb 2024 12:30

IN BRIEF: India Capital Growth sells treasury shares worth GBP385,400

India Capital Growth Fund Ltd - Guernsey-based investment company focused on listed mid and small cap companies in India - Sells 210,000 shares from treasury at a price of 183.50 pence each on Friday last week, worth GBP385,350, to meet market demand. On Friday last week, it said it sold 350,000 shares from treasury at a price of 183.90p each worth GBP643,650 the day before, similarly "in order to meet market demand".

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9 Feb 2024 09:13

IN BRIEF: India Capital Growth Fund sells GBP640,000 treasury shares

India Capital Growth Fund Ltd - Guernsey-based investment company focused on listed mid and small cap companies in India - Sells 350,000 shares from treasury at a price of 183.90 pence each worth GBP643,650 on Thursday "in order to meet market demand".

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1 Nov 2023 09:37

India Capital Growth Fund shares rise on GBP5 million buyback

(Alliance News) - India Capital Growth Fund Ltd shares rose on its GBP5.0 million buyback programme.

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1 Nov 2023 09:36

SMALL-CAP WINNERS & LOSERS: Asos annual revenue drops 10%

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

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20 Jun 2023 15:44

UK shareholder meetings calendar - next 7 days

Wednesday 21 June 
Argentex Group PLCAGM
Clean Power Hydrogen PLCAGM
Eqtec PLCAGM
Hydrogen Utopia International PLCAGM
HSS Hire Group PLCAGM
Intelligent Ultrasound Group PLCAGM
JD.com IncAGM
RTW Venture Fund LtdAGM
Schroders Capital Global Innovation Trust PLCAGM
Sivota PLCAGM
Numis Corp PLCGM re acquisition by Deutsche Bank AG
THG PLCAGM
UK Commercial Property REIT LtdAGM
Thursday 22 June 
Alphawave IP Group PLCAGM
Angling Direct PLCAGM
Anglo Asian Mining PLCAGM
boohoo Group PLCAGM
Braime Group PLCAGM
Card Factory PLCAGM
Ergomed PLCAGM
Falcon Oil & Gas LtdAGM
Futura Medical PLCAGM
Good Energy Group PLCAGM
Grand Vision Media Holdings PLCAGM
Longboat Energy PLCAGM
MaxRets Ventures PLCAGM
Pathfinder Minerals PLCAGM
RBG Holdings PLCAGM
Robinson PLCAGM
Sanderson Design Group PLCAGM
Team17 Group PLCAGM
Trellus Health PLCAGM
Whitbread PLCAGM
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 warrant holders
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
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 Mar 2023 18:39

EARNINGS UPDATES: Ironveld sees interim pretax loss widen on costs

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

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6 Mar 2023 21:18

IN BRIEF: India Capital Growth Fund sells Ocean Dial unit to AssetCo

India Capital Growth Fund Ltd - London-listed investment company - Sells Ocean Dial Asset Management Ltd to AssetCo PLC. Says UK directors of ODAM, David Cornell and Robin Sellers, will stand down after facilitating transition. Adds further announcements will be made following completion of the deal.

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26 Sep 2022 20:22

TRADING UPDATES: AltynGold, Rambler Metals & Mining revenue grows

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

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14 Sep 2022 15:59

UK shareholder meetings calendar - next 7 days

Thursday 15 September 
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Auto Trader Group PLCAGM
Blue Planet Investment Trust PLCAGM
Civitas Social Housing PLCAGM
finnCap Group PLCAGM
FRP Advisory Group PLCAGM
Kinovo PLCAGM
PetroTal CorpAGM
Predator Oil & Gas Holdings PLCAGM
Real Estate Credit Investments LtdAGM
Ryanair Holdings PLCAGM
Sosandar PLCAGM
Supreme PLCAGM
VSA Capital Group PLCAGM
Friday 16 September 
Baillie Gifford US Growth Trust PLCAGM
Gowin New Energy Group LtdAGM
Kibo Energy PLCAGM
Monday 19 September 
Carr's Group PLCGM re Agricultural Supplies division sale
Tuesday 20 September 
Appreciate Group PLCAGM
Cake Box Holdings PLCAGM
DP Eurasia NVEGM appointment of independent non-executive director
DSW Capital PLCAGM
FIH Group PLCAGM
Global Ports Holding PLCAGM
Gore Street Energy Storage Fund PLCAGM
Ilika PLCAGM
Manolete Partners PLCAGM
Moonpig Group PLCAGM
ProCook Group PLCAGM
Quiz PLCAGM
Shearwater Group PLCAGM
SulNOx Group PLCAGM
Utilico Emerging Markets Trust PLCAGM
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Wednesday 21 September 
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Hipgnosis Songs Fund LtdAGM
IG Group Holdings PLCAGM
India Capital Growth Fund LtdAGM
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SDI Group PLCAGM
Seraphine Group PLCAGM
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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21 Mar 2022 12:12

TRADING UPDATES: Asimilar to list on AQSE; Spectral MD swings to loss

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

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29 Sep 2021 13:22

EARNINGS UPDATES: Pittards swings to profit; Immupharma loss widens

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7 Jul 2021 16:02

UK shareholder meetings calendar - next 7 days

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EXECUTIVE CHANGES: Tekmar hires former Kromek CFO; Redx chair departs

EXECUTIVE CHANGES: Tekmar hires former Kromek CFO; Redx chair departs

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