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TRADING UPDATES: Treatt hikes dividend as earnings jump in year

Tue, 11th May 2021 14:12

(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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Treatt PLC - manufacturer and supplier of natural extracts and ingredients for beverage, flavour and fragrance industries - Reports pretax profit before exceptional items up 71% year-on-year in the twelve months to the end of March to GBP10.4 million. Revenue, meanwhile, jumped by 14% to GBP60.8 million. Treatt declares a 2.0 pence a share payout for the year, up 8.7% on the prior year. The company says an improved performance was driven by an increase in margins from growth in higher value-added categories and improved citrus product mix. Treatt says it expects that ongoing investment in its capacity and innovation capability will fuel long-term growth.

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Polar Capital Global Health Trust PLC - investment firm - Reports net asset value per share improvement by 3.2% since the end of September 2020 to 276.63p as of March 31. NAV per ZDP share rose by 1.5% over the same period to 111.83p. The company's share price at the end of March stood at 242.00p, representing a 13% discount to NAV. In the same period the company's benchmark index, the MSCI AC World Daily Total Return Net Health Care Index in sterling with dividends reinvested, rose by 1.0%. This means that Polar Capital Global Health outperformed the benchmark as its NAV total return was 3.6%. The trust says dividends for the current financial year ending September 30, if declared, will be paid in August 2021 and February 2022.

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Summerway Capital PLC - company which invests in household and consumer goods sectors - Reports a loss after tax of GBP217,600 compared to GBP86,700 posted the year prior, reflecting operating expenses of GBP106,500, up form GBP97,900 the year ago. In addition, the company incurs one-off costs relating to the placing of shares and change in investment strategy of GBP92,200 versus none in financial 2020. Finance income, meanwhile, declined to GBP1,500 from GBP11,200 the year before. As at February 28, Summerway held GBP7 million cash, up form GBP5.5 million as at the end of August 2020.

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Conygar Investment Co PLC - property investment and development group - Reports NAV of GBP86.7 million, or 164.0p per share as at the end of March, down from GBP95.3 million the year prior. During the six months to the end of March, the company buys 740,000 shares, representing 1.4% of its share capital, at a cost of GBP810,000, which equates to an average price of 109.0p per share. The primary cash outflows in the half-year were GBP8.4 million incurred on development projects and investment properties, including GBP7.1 million to progress the development at Nottingham. These were partly offset by cash inflows of GBP1.0 million from the sale of King's Lynn and Fishguard lorry stop resulting in a net cash outflow during the period of GBP8.2 million.

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STM Group PLC - financial services firm - Reports pretax profit before exceptional bargain purchase gain of GBP2.0 million for 2020, down from GBP3.9 million posted in 2019. The decrease in profit is largely as a result of the higher professional indemnity insurance premiums, an increase which was seen across the market, which were introduced in September 2019 resulting in 2020 being a full year with these higher costs. Profit before other items climbed to GBP3.6 million from GBP3.5 million the year ago. Revenue rose to GBP24.0 million from GBP23.2 million year-on-year. STM Group increases final payout to 0.85p from 0.75p paid the year before. Total dividend stands at 1.40p versus 1.50p the year prior.

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Lexington Gold Ltd - gold exploration and development company - Reports net loss for 2020 from continuing operations was USD700,000 against the prior year loss of USD500,000. Total assets, meanwhile, jumped to USD5.5 million from USD400,000 recorded for 2019. The company does not currently generate any revenue as it is at the exploration stage after an acquisition of Global Asset Resources Ltd which, via its wholly owned US subsidiary, holds a 51% interest in and operatorship of four gold exploration projects in North and South Carolina in the US.

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AltynGold PLC - mining company - Says revenue jumped to USD10.1 million in the three months to the end of March from USD4.6 million reported a year ago, mainly driven by improved gold poured production and also by higher gold price. Production went up by almost 43% year-over-year to 131,733 ore mined, and the quantity of contained gold increase more than by 70% to 7,462 ounces. The positive momentum in production growth and improving contained gold is expected to be increased over the coming quarters, the company notes. AlynGold says it did not experience any negative effect from Covid-19 or interruptions on its production operations during the quarter.

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Vector Capital PLC - commercial lending group - Says GBP3.1 million gross proceeds from IPO, received in December 2020, have largely been deployed into new lending and will provide the base for drawing down further on debt facilities. The company says current trading in 2021 has been in line with expectations and its pipeline of new loan opportunities remains strong. Vector is now concentrating on loan book growth by enhancing its engagements with its broker network.

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Kromek Group PLC - supplier of detection technology - Achieves significant sequential revenue growth in the second half over the first half of its financial year to April 30, and expects to report revenue and earnings before interest, tax, depreciation and amortization in line with market expectations. The company says it continues to maintain tight cost control, improve collections and manage cash flow. Kromek says it is well-placed to capitalise on the opportunities across its business and continues to look to the future with increased confidence.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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