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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Topps Tiles PLC - Enderby, England-based floor and wall coverings retailer - Ups pretax profit in the six months ended April 2 to GBP5.6 million from GBP4 million, representing 41% growth year-on-year. Revenue climbs to a record GBP119.2 million in the half from GBP103.2 million the previous year. Like-for-like sales were up 20% year-on-year and up 23% on a two-year basis in the first half. Declares an interim dividend of 1.0 pence. The previous year, Topps Tiles did not declare an interim dividend. Reports current trading is at a "good" level with like-for-like sales growth of 5.7% in the first seven weeks of the second half. Notes inflationary pressures moving forward and challenges in the availability of raw materials. Chief Executive Rob Parker says: "The group has delivered record first half revenues against a backdrop of continued robust demand for home improvements. While supply chain and inflation headwinds strengthened in the period, we are managing these challenges effectively overall and believe we remain well positioned relative to many of our competitors."
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Trinity Exploration & Production PLC - oil exploration and production company focused on Trinidad and Tobago - Posts a pretax profit of USD3 million in 2021, up significantly from USD103,000 the year before. Revenue surges 50% to USD66.3 million from USD44.1 million. Average production stands at 3,069 barrels of oil per day, down from 3,232 bopd. Average price per barrel leaps to USD60.4 from USD37.7. Notes "continued momentum" into the first quarter of 2022, with production averaging at 3,013 bopd at an average price of USD83.1 per barrel. Looking forward, Chief Executive Jeremy Bridglalsingh says: "Our ambition is to double production over the next few years, and thereby generate sufficient free cash flow both to fund future growth initiatives and deliver meaningful cash returns for shareholders, and we believe that we now have the structure in place to deliver this challenging target."
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Helical PLC - London-based property investor - Reports pretax profit of GBP72.9 million for the year ended March 31, more than triple the GBP20.5 million achieved the previous year. Revenue rises 33% to GBP51.1 million from GBP38.6 million. Company's investment property portfolio value at March 31 rises to GBP938.8 million from GBP740.2 million at the same time the previous year. Posts a total property return of 10.7%, up against the MSCI Central London Offices Total Return Index return of 7.9%. Declares a final dividend of 8.25 pence, up from 7.40p the previous year and resulting in a total payout of 11.15p for the year. Helical expresses concerns bout inflationary pressures and the potential impact on the performance of UK businesses. Nonetheless, company says it remains in a strong position.
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Cordiant Digital Infrastructure Ltd - investment firm focused on digital infrastructure assets - In the period from January 4, 2021 to March 31, 2022, company posts a pretax profit of GBP51.4 million. Net asset value per share at March 31 stands at 106.34 pence. Raises GBP795 million during first year as a listed company. Looks forward with "enthusiasm and confidence".
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Warehouse REIT PLC - real estate investment trust focused on warehouses - For the year ended March 31, posts a pretax profit of GBP191.2 million, up 55% from GBP123.1 million the previous year. Net property income rises 37% to GBP48.4 million from GBP34.4 million. Portfolio value at March 31 stands at GBP1.01 billion, up sharply from GBP792.8 million at the same time the previous year. Sees continued strong rent collection with 98.7% of rent due in relation to the year collected at May 19. Makes the decision to move its listing to the main market from AIM. Notes inflationary pressures but says it remains confident.
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Residential Secure Income PLC - Bristol-based real estate investment trust focused on retirement living and shared ownership homes - For the six months ended March 31, net rental income rises 25% to GBP7.6 million from GBP6.1 million the previous year. Pretax profit surges 79% to GBP7.8 million from GBP4.4 million. Net asset value per share at March 31 rises to 108.4 pence from 106.6p at September 30. Reports 99% of rent collected during the half. Value of investment properties at March 31 rises to GBP375 million from GBP351 million at September 30.
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Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Narrows pretax loss in the six months to March 31 to GBP153,323 million from a loss of GBP185,955 million the previous year. Posts revenue of GBP11,422 in the half. In the same half the previous year, Sunrise did not post any revenue. Says that discussions are continuing for the project development of the CS Pozzolan-Perlite project and adds that application has been made for the conditional approval of CS natural pozzolan for Caltrans's authorized materials list. Notes high grade gold and silver result from sampling at its Myrtle Gold Silver project. Company says it has a "largely overlooked but valuable portfolio".
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Schroder AsiaPacific Fund PLC - seeks long-term growth from investments across the Asia Pacific region's equity markets - Swings to a loss on investment in the six months to March 31 of GBP44.8 million from a gain on investment of GBP188.2 million the previous year. Pretax net return swings to a loss of GBP43.9 million from a profit of GBP189.5 million. Net asset value per share at March 31 stands at 605.59 pence, down from 670.40p at the same time the previous year. Company says despite the "gloomy backdrop" due to the Ukraine conflict and inflation, there are "reasons for optimism" for Asian equity investors and thus remains confident.
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Actual Experience PLC - Bath, England-based hybrid workplace analytics-as-a-service company - Widens pretax loss in the six months ended March 31 to GBP2.8 million from a loss of GBP2.2 million the previous year. Revenue dips to GBP824,706 from GBP889,467. Company says it is working to "scaleup" the business by focussing on direct sales and marketing efforts to convert its pipeline into revenue generating long-term customers. Chief Executive Dave Page says: "We remain confident that the second half of the year will see improved momentum as our product and sales investments bear fruit."
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Lords Group Trading PLC - London-based building material distributor - Pretax profit in 2021 more than doubles to GBP8.0 million from GBP3.6 million the previous year. Revenue surges 26% to GBP363.3 million - a record, Lords Group says - from GBP287.6 million, with strong performances across al businesses. Like-for-like revenue grew 18% against the previous year and was 21% ahead of 2019. Lords Group says this shows a "shift rebound" following the pandemic. Declares a maiden dividend of 1.89 pence. Targets GBP500 million in revenue by 2024. Expects supply issues to ease moving into the second half of 2022. Anticipates trade in line with market expectations, with adjusted profit before tax expected at GBP16.0 million for the year. In 2021, this figure stood at GBP10.2 million. Chief Executive Shanker Patel says: "Progress in the new financial year has continued to be strong, our four new value accretive acquisitions are performing in line with our expectations and we look forward with confidence as we aim to deliver sustainable and growing returns to our shareholders."
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Puma Alpha VCT PLC - venture capital trust - Net asset value per share stands at 136.48 pence at February 28, up 20.38p from 116.10p at the same time a year prior. Company says this reflects upwards revaluations and less running costs in the year. Notes impact of recent geo-political and economic events such as rising inflation and the conflict in Ukraine but says that it remains confident moving forward. Gain on investment surges to GBP4.1 million in the year ended February 28 from GBP2 million the previous year. Posts a pretax profit of GBP3.0 million, nearly double the GBP1.6 million achieved the previous year,
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Puma VCT 13 PLC - venture capital trust - Net asset value per share stands at 143.53 pence at February 28, up 17.76p from 125.77p at the same time a year prior. Company says this gain arises from a strong performance across a broad range of its investments. For the year ended February 28, company posts a gain on investment of GBP12.2 million, up sharply from GBP5.7 million the previous year. Posts a pretax profit of GBP9.3 million, more than double the GBP4.4 million achieved a year prior. Company says it is looking at an "uncertain and high-risk" backdrop.
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JPMorgan China Growth & Income PLC - invests in Chinese companies - For the six months ended March 31, company swings to a loss on investment of GBP139.9 million from a gain on investment of GBP46.3 million the previous year. Swings to a net loss before tax of GBP143.4 million from a net return before tax of GBP46.5 million. Total return on net assets fell 30.8%, underperforming the benchmark MSCI China Index's 17.5% decline. Says half has been a "challenging" period due slowing Chinese economic growth, heightened US-China tensions and new Covid lockdowns. Nonetheless, company asserts the long term growth opportunities for investments in China and remains confident.
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By Heather Rydings; heatherrydings@alliancenews.com
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