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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Hostelworld Group PLC - online booking platform focused on the hostel market - Revenue for 2020 crashes to EUR15.4 million from EUR80.7 million and firm swings to massive pretax loss of EUR50.5 million from 2019's profit of GBP3.0 million. Takes impairment of EUR15.0 million on its intangible assets associated with Hostelbookers and Hostelworld.com. Full year net booking volumes declined by 79%. Says 2020 was an "extremely challenging" year for both the company and global travel industry in light of the pandemic. "While the near-term outlook for the travel industry remains challenging and highly uncertain, we continue to expect the pace of recovery to be driven by changes in travel guidance in individual markets, which we hope to see accelerate as vaccination programmes are rolled out across our key geographies. Given the continued uncertainty relating to the timing of the recovery, the Group is unable to provide guidance for FY2021," company says.
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Centaur Media PLC - business information, events and marketing provider - Says "resilient" second half performance provides confidence to reinstate dividend. Revenue for 2020 falls to GBP32.4 million from GBP39.6 million but pretax loss narrows to GBP2.6 million from GBP8.1 million. Net operating expenses fall to GBP34.7 million from GBP49.0 million. Says pandemic had "significant impact" on company in 2020, and it was pleased to see trading improve over the second half of the year and this trend continue into the first quarter of 2021. "Following the cancellation of the 2019 final and 2020 interim dividends, Centaur's resilience has given the board confidence to propose a final dividend of 0.5p per share for the 2020 financial year. The board is also recommending a resumption of our normal dividend policy...and will also consider resuming further returns of capital to shareholders once the longer-term impact of Covid on the group's cash flows becomes clearer," says Centaur.
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Tribal Group PLC - Bristol-based education software and services firm - Revenue for 2020 GBP73.0 million, down from GBP78.2 million in 2019. Swings to pretax profit of GBP8.5 million from GBP2.9 million loss in 2019, though on an adjusted basis pretax profit flat at GBP11.5 million. Adds that it has had a positive start to 2021 and now expects its performance for the year to be "slightly ahead" of board expectations. "We have entered the current financial year with increased levels of revenue visibility due to the strong sales performance in the latter part of 2020, a strengthened position in the significant South East Asia market and a considerably expanded addressable market through the launch of Tribal:Cloud and imminent launch of Tribal Edge Admissions," says Chief Executive Mark Pickett.
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JPMorgan Claverhouse Investment Trust PLC - invests in income generating UK companies with a focus on those that provide consistent and growing dividends - Says 2020 net asset total return was minus 10.8%, with company's benchmark, the FTSE All-Share Index, down 9.8% over the same period. "While the return for the full year was disappointing, caused principally by being geared at the time of the steep market fall in the early part of the year, the Investment Managers' stock selection contributed to much better performance in the second half of the year," company notes. Net asset value per share 672.1 pence at end of December, down from 789.4p a year before. At March 15, 2021, net asset value per share had recovered somewhat to 705.28p
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Worsley Investors Ltd - focused on providing attractive level of absolute long-term return, largely through the capital appreciation and exit of undervalued securities - Net asset value per share 39.89p at end of December, up 4.4% on 38.20p at end of June. NAV total return adjusted for capital raise 4.4% and share price total return 13% in six-month period, versus FTSE All Share Index up 9.3% and FTSE Real Estate Investment Trust Index up 11%. "Our Investment Advisor, Worsley Associates, has deployed the cash raised earlier in 2020 with considerable success but that success has been largely tempered by the situation in Italy which has affected trading at the Curno cinema and has made it extremely difficult to progress the realisation of that asset," company notes.
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Alpha FX Group PLC - London-based currency management firm - Revenue for 2020 rises to GBP46.2 million from GBP35.4 million in 2019, while pretax profit increases to GBP17.1 million from GBP13.5 million. Notes the year was another one of strong growth for the business despite the pandemic. FX Risk Management revenue jumps to GBP40.3 million from GBP34.2 million, while Alternative Banking revenue up to GBP6.0 million from just GBP1.2 million the year before. "Whilst Covid-19 provides a continuing cause for caution across the world, the Group has made an excellent start to the year. Subsequently, the board remains optimistic that, providing the situation under Covid-19 does not deteriorate, the group is on track to deliver another strong year of growth," Alpha FX says.
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Baillie Gifford Shin Nippon PLC - invests primarily in small Japanese companies which are believed to have above average prospects for growth - Says net asset value per share rose by 34% in financial year to January 31 and its share price by 43% versus the comparative index - MSCI Japan Small Cap Index, total return in sterling terms - return of 5.3%. "This was once again another period of strong performance in both absolute and relative terms," company says. Net asset value per share 231.7p at end of January 2021 versus 173.0p a year before.
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Science in Sport PLC - London-based sports nutrition company - Revenue for 2020 edges down slightly to GBP50.4 million from GBP50.6 million in 2019, though pretax loss narrows to GBP2.3 million from GBP5.1 million as cost of sales falls to GBP25.8 million from GBP28.4 million. Gross margin improved to 49% from 44% due to Supply Chain efficiencies, together with sales channel shift to its Digital platform and improved pricing. "Trading for January and February is in line with the same period in 2020, despite the current Covid-19 lockdown in the UK and other key markets. We have continued to make gross margin improvements, and this will underpin Ebitda progress," firm says, adding trading in March is in line with plan.
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Advanced Medical Solutions Group PLC - surgical and advanced woundcare specialist company - Revenue for 2020 falls to GBP86.8 million from GBP102.4 million, and pretax profit more than halves to GBP10.1 million from GBP24.3 million. Nonetheless, proposes full-year dividend of 1.70p, up 10% on 1.55p the year before. "In what was a very challenging year for everyone, I am pleased with how the team and the business performed and the group closed the year in line with current consensus forecasts. Despite the severe Covid-19 disruption, the group remained profitable and generated strong operational cash flows, whilst continuing to invest in key projects and an increasing dividend with significant progress across many of the group's key strategic initiatives," says Chief Executive Chris Meredith.
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Kape Technologies PLC - Isle of Man-headquartered digital security software provider - Revenue for 2020 nearly doubles to USD122.2 million from USD66.1 million in 2019, with pretax profit surging to USD7.3 million from USD2.8 million. Says revenue growth driven by a 31% increase in organic growth in the digital privacy segment and full year contribution of Private Internet Access, while recurring revenue of USD106.4 million underpins earnings visibility. Expects to generate revenue of USD197 million to USD202 million in 2021 and adjusted earnings before interest, taxes, depreciation and amortisation of around USD73 million to USD76 million, versus USD39.0 million in 2020.
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Anpario PLC - Nottinghamshire-based sustainable animal feed additives - Revenue for 2020 rises 5% to GBP30.5 million from GBP29.0 million in 2019, while pretax profit up 22% to GBP5.4 million from GBP4.4 million. Proposes final dividend of 6.25p bringing total for year to 9.0p, up 13% on 8.0p in 2019. "The board is delighted to report the Group's best operating performance to date, notwithstanding that 2020 was an extremely challenging year for the world due to the Covid-19 pandemic. This outstanding performance is due to the swift implementation of our Covid-19 response plans and the commitment, flexibility and supreme efforts of our staff," Anpario says. Adds that current year has started well, building on 2020 momentum.
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Resolute Mining Ltd - African-focused gold miner - Revenue from contracts with customers for gold and silver sales rises to USD603.0 million in 2020 from USD456.4 million in 2019, with pretax loss slimming to USD6.4 million from USD58.7 million. "2020 was an extraordinary year with the various management and operational challenges and the global Coronavirus pandemic. Operationally, Mako completed its first full year as a Resolute asset, meeting all targets and providing strong cashflows. Syama's underground mine is operating consistently at nameplate levels," company says.
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UK Mortgages Ltd - Bromsgrove, England-based investor in UK residential mortgages - Net asset value per share at end of 2020 81.78p versus 80.59p at end of June. Net asset value total return 7.7% for the half-year period. "Despite the general lockdown, house prices have remained resilient and with interest rates unlikely to rise for some time and mortgage lending margins being maintained, the economic background for the Company is positive," firm says.
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Fidelity European Trust PLC - invests in continental European companies - Net asset value up 9.7% in 2020, outperforming benchmark, the FTSE World Europe (ex UK), which returned 8.6%. Net asset value per share 296.57p at end of December versus 277.19p a year ago. Recommends final dividend of 3.90p which, together with 2.60p interim payout, results in 6.50p dividend for the year versus 6.47p in 2019.
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Manchester & London Investment Trust PLC - technology-focused growth-stock investor - Net asset value per share at end of January 633.62p, up 14% on 625.23p at end of July. Total return to shareholders over six months 2.4% versus benchmark, MSCI UK Investable Market Index, returning 12%. "The relative underperformance was driven partly by a period of rotation from growth to value stocks, which saw Big Technology plays materially lag cyclical sectors (to which the benchmark is significantly more exposed)," company says.
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By Lucy Heming;Â lucyheming@alliancenews.com
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