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Pin to quick picksMajedie Inv. Share News (MAJE)

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Majedie is an Investment Trust

To maximise total shareholder return whilst increasing dividends by more than the rate of inflation over the long-term by investing in securities of publicly quoted companies worldwide, though it may invest in unquoted securities.

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TRADING UPDATES: Alfa Financial lifts annual revenue guidance

Thu, 10th Nov 2022 14:39

(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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Alfa Financial Software Holdings PLC - London-based software developer for the finance industry - Reports strong third quarter trading, leading the finance-focused software developer to upgrade its full-year expectations. Notes that, at the end of the quarter, revenue totals GBP25 million, up 25% against the GBP20 million recorded the year prior. Cites strong levels of chargeability in its Implementation and Product Engineering teams for the rise. As a result of its performance, Alfa raises its full-year expectations for revenue by GBP1.5 million.

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Pantheon Resources PLC - Alaska-focused oil and gas company - Completes acquisition of about 40,000 acres in State of Alaska's North Slope Areawide lease sale. Says it was successful on all bids submitted. "The new leases are strategically positioned in two areas contiguous or adjacent to the company's current acreage on its north western boundary, covering the extension of the Theta West project, and east, capturing the area adjacent to the junction of the Alkaid Unit and the Talitha Unit" it notes. Pantheon's winning bids averaged USD28.00 per acre.

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Biome Technologies PLC - Southampton-based plastic material & resin manufacturing company - Says revenue in the third quarter of 2022 is in-line with expectations at GBP1.9 million, and 73% higher than the GBP1.1 million achieved the previous year. Explains that the rise reflected demand across its customer portfolio, as well as some catch-up from the second quarter as raw materials for production finally cleared supply chain hurdles. Confirms that its outlook for 2023 remains unchanged.

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Ocean Wilsons Holdings Ltd - Bermuda-based investment company - Sees its investment portfolio, including cash under management, fall to USD283.3 million at September 30. At December 30, its portfolio amounted to USD351.8 million, representing a 20% decline for the nine-month period. This compares to a fall of 25% for the MSCI World Index over the same time, however. The investor's revenue rises to USD118.0 million in the third quarter of 2022, up from USD104.0 million previously, thanks to favourable conditions in volume and pricing for its logistics business. Earnings before interest, taxation, depreciation, and amortization rise 13% year-on-year to USD50.7 million from USD44.9 million.

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Majedie Investments PLC - London-based investment trust - Becomes a member of Marylebone Partners LLP, entitling the firm to 7.5% of its residual profits and capital interest at no consideration cost. This comes as the firm appoints Marylebone Partners as its investment manager. Marylebone Partners currently manages around USD400 million for its clients, the investment trust adds. Majedie says it is also proposing a change to its investment objective to pursue "high-conviction, long-term approach that is unconstrained by geographic limitations or any formal benchmark." Proposal subject to shareholder approval.

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By Xindi Wei; xindiwei@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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