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(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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Blackrock Smaller Companies Trust PLC - FTSE250-listed investment trust focused on smaller UK quoted companies - Net asset value per share at the end of the half-year that ended August 31 falls 18% to 1,536.94 pence from 1,878.11p at February 28. Declares 14.50p per share interim dividend, up 12% from 13.00p a year ago. "We face a period of further interest increases and a number of unknowns regarding changes in fiscal policy in general and taxation in particular," Blackrock Smaller Chair Ronald Gould says on Thursday, the day the Bank of England hiked the UK bank rate to 3.00% from 2.25%. Gould notes other global issues such energy prices due to the war in Ukraine, and lockdowns in China.
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Brandshield Systems PLC - London-based cybersecurity solutions provider - Reports continued strong business momentum across the third quarter of 2022. Adds it secured new contracts in the US, which it calls a "key territory". Number of clients increases 12% to 172 at the end of the third quarter from 153 at the end of the first half of 2022. Looking ahead, Chief Executive Officer Yoav Keren says: "We are developing an enviable portfolio of clients to continue our mission of safeguarding brands from various online threats which are heavily disrupting the daily operations of businesses globally, and we look forward to providing shareholders with further updates on significant business activities."
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Insig AI PLC - London-based data science and machine learning - Anticipates to become cash flow positive from the second quarter of 2023 due to cost cutting action. Cost reduction included lowering the number of Insig employees. "With recent uncertainty in the asset management and funding markets having increased significantly, we must adapt and accelerate the timing of profitability. Whilst it would have been ideal to have continued to expand our coverage into more smaller companies, the return on this investment would extend beyond our appetite," says CEO Colm McVeigh.
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Libertine Holdings PLC - Sheffield, England-based developer of technology for power generation from renewable fuels - Expects commercial revenue of GBP600,000 in the first half that ended September 30, up from GBP100,000 a year ago. Since March, has completed performance validation prototype design and manufacture for the combustion testing of Mahle Powertrain, which will take place in third quarter of financial year 2023. Notes increasing engagement with potential original equipment manufacture clients and manufacturing partners in UK, US, Europe and India.
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Yourgene Health PLC - Manchester-based molecular diagnostics - Core revenue in the first half-year that ended September 30 excluding Covid activities grows 14% to GBP8.0 million from GBP7.0 million a year ago. Revenue falls 45% to GBP9.6 million from GBP17.5 million. The fall in revenue reflects the transition away from Covid services, Yourgene explains. It cautions on upcoming margin erosion due to inflationary and economic pressures in the UK, as well as currency fluctuations. The firm expects margins to stay below the 60% level that is previously forecast, for the remainder of the financial year that ends March 31. However, Yourgene remains on track to cut operating costs by GBP5 million. "Whilst margins have been impacted by the current external environment, we are continuing to reshape the business and are evaluating the best ways to manage costs without constraining future growth where possible. The year-to-date performance informs the board's confidence in the business remaining on track to deliver full-year revenues in line with expectations and to prioritise market penetration over near-term earnings before interest, tax, depreciation and amortisation delivery," says CEO Lyn Rees.
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By Tom Budszus; tombudszus@alliancenews.com
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