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Pin to quick picksRiverstone Cred Share News (RCOI)

Share Price Information for Riverstone Cred (RCOI)

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Share Price: 0.935
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Riverstone Credit Opportunities Income is an Investment Trust

To generate consistent shareholder returns predominantly in the form of income distributions principally by making senior secured loans to energy-related businesses.

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EARNINGS: Riverstone Credit stays stable, Bloomsbury hails record half

Thu, 26th Oct 2023 18:12

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

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Riverstone Credit Opportunities Income PLC - London-based energy infrastructure and energy transition credit investor - Net asset value at September 30 was USD1.07, unchanged from June 30. Says this stability was due to continued strong portfolio performance during the third quarter of 2023, and that as of September 30 it is nearly fully invested based on the revolving credit facility added in the fourth quarter last year and on current portfolio commitments. Riverstone Credit says it remains extremely well positioned due to its portfolio of accredited energy-transition focused investments through green or sustainability-linked structured loans. Notes "backdrop of strong energy market performance, the global focus on decarbonisation and the company's unique focus on short duration lending."

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Bloomsbury Publishing PLC - London-based publisher - Pretax profit for the half year ended August 31 was up 8% to GBP14.0 million from GBP12.9 million the year before. Says revenue increased 11% to GBP136.7 million from GBP122.9 million, and diluted earnings per share rose 11% to 13.66 pence from 12.30p. Consumer revenue grew 17% to GBP89.4 million, Adult Trade revenue rose 8% to GBP27.6 million and Children's Trade revenue grew 22% to GBP61.7 million. Declares interim dividend of 3.70p per share, more than double 1.41p the prior year. Cash at August 31 totalled GBP39.1 million, down from GBP41.5 million on the same day in 2022. Says it is confident it will achieve market expectations for the year ending February 29 2024, meaning revenue of GBP273.1 million and profit before tax and "highlighted items" of GBP32.5 million.

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Schroder Income Growth Fund PLC - UK-based investment company - Lifts dividend for the year ended August 31 by 4.6% to 13.80p per share from 13.20p the year before. Net asset value total return was positive 4.2%, underperforming against positive 5.2% from the FTSE All Share Total Return index. NAV per share decreased to 293.58p from 295.26p. Says many challenges "look set to continue into the year ahead."

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Haydale Graphene Industries PLC - Carmarthenshire, Wales-based technology solutions company - Pretax loss for the year ended June 30 widens to GBP6.6 million compared with GBP5.2 million the previous year. Revenue increased 48% to GBP4.3 million from GBP2.9 million, with US sales continuing to progress on "growth in the core aerospace and automotive markets". Administrative expenses increased 13% to GBP6.3 million from GBP5.5 million. Non-Executive Chair David Banks says: "We have made important progress in our next planned steps as a business by forging commercial partnerships and collaborations with leading organisations...the board remains confident that the company will be able to take advantage of the traction it is now seeing."

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e-Therapeutics PLC - Oxford, England-based computer-based drug discovery company - Says that in six months ended July 31, pretax loss widened to GBP6.6 million from GBP4.5 million the previous year. Revenue fell 46% to GBP160,000 from GBP295,000. Chief Executive Officer Ali Mortazavi says: "Despite a severe macroeconomic climate, we have made significant progress during the past six months...we have been able to translate our computational analyses into tangible assets, generating compelling preclinical data at a fraction of the R&D spend of any competitor." Research & development expenditure increased to GBP5.3 million from GBP3.1 million. Company expects higher "underlying cash burn" in the current half year due to its "planned increase in R&D spend to continue the expansion of our AI capabilities and progress the identification and execution of preclinical targets, together with sustaining our active IP strategy as novel inventions are generated."

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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