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EARNINGS SUMMARY: Franchise Brands blooms; Tlou Energy loss widens

Thu, 09th Mar 2023 14:32

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

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Franchise Brands PLC - Manchester-based owner of ChipsAway, Willow Pumps and Metro Rod brands - Pretax profit in 2022 jumps 78% to GBP10.3 million from GBP5.8 million in 2021, boosted by business to business division. Revenue grows 72% to GBP99.2 million from GBP57.7 million. Proposes final dividend of 1.1 pence per share, up from 0.9p a year ago. Total dividend is 2.0p per share, up 33% from 1.5p. Net cash as at December 31 grows to GBP8.0 million from GBP6.5 million. Executive Chair Stephen Hemsley says: "The excellent momentum in the B2B businesses has continued in 2023 to date, as we capture the defensive growth opportunities afforded by the group's mostly essential services, strong leadership positions in its chosen markets, and reputation for high quality, reliable services among its diversified client base. We look forward with confidence to expanding the business organically and by seeking further earnings-enhancing acquisitions."

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Hansard Global PLC - Isle of Man-based long-term savings provider - In six months to December 31, pretax profit grows to GBP3.1 million from GBP1.9 million a year prior. Maintains interim dividend of 1.8p per share. Net asset value per share as at December 31 falls to 15.6p from 16.7p a year ago. Anticipates sales of long-term savings products to continue to be impacted by global economic headwinds, but adds: "however, we are confident that our new product pipeline will lead to increased sales and long term growth in the business."

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N4 Pharma PLC - Derby, England-based pharmaceutical company focused on developing Nuvec, a delivery system for vaccines and cancer treatments - In 2022, pretax loss narrows to GBP1.2 million from GBP1.8 million in 2021. Research & development costs reduce to GBP577,525 from GBP1.2 million. Company does not make revenue in 2022 or 2021. Notes delays of research grade materials due to global shortages. Says work is underway, with full results expected by the end of the second quarter of 2023.

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Seraphim Space Investment Trust PLC - London-based space technology investment company - Net asset value per share as at December 31 declines 7.2% to 92.74 pence per share from 99.97p at June 30. Company does not expect to recommend payouts in the near future due to its focus on achieving capital growth. In its outlook, notes innovation of Western economies regarding the impact of Russia's war in Ukraine. Chair Will Whitehorn says: "The investment manager is actively engaged with numerous investment prospects, carefully selecting those with a strong growth premise and offer the highest returns for shareholders. It is taking a cautious approach to the allocation of cash between supporting existing portfolio companies, making new investments, and managing the company's working capital until the market improves and more capital can be raised."

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Tlou Energy Ltd - Brisbane, Australia-based power project developer with large gas field in Botswana - In the six months to December 31, pretax loss widens to AUD2.2 million from AUD1.3 million a year ago. Employee benefits expense increases to AUD564,644 from AUD320,901. Posts an interest expense of AUD296,013 compared to none a year ago. Expenses classified as other widen to AUD1.0m million from AUD585,650. Expects work on purpose-built operations facility for 10 megawatt development at Lesedi, Botswana to be completed during 2023, with potential annual generation of about USD10 million in revenue from the project.

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Town Centre Securities PLC - Leeds, England based property investment and car parking operator - Net asset value as at December 31 is virtually flat at 314 pence per share, compared to 313p a year ago. It is down 7.9% from 341p at June 30, 2022. Maintains interim dividend at 2.5p per share. EPRA net tangible assets per share as at June 30 falls to 306p from 333p a year ago. Looking ahead, says that trading performance seen in the first half of financial year 2023 is performing into the opening months of calendar year 2023, with rent collections robust at 99% of amounts invoiced at the last quarter now collected. "The momentum in our car parks recovery has continued through 2022 however for those car parks that are particularly reliant on office workers, this recovery remains slow," it adds.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Tlou makes progress at Lesedi power project

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IN BRIEF: Tlou Energy makes progress on Lesedi power generation site

Tlou Energy Ltd on Friday - Botswana and Southern Africa-focused energy company - Says the Lesedi 4P and 6P production wells in Lesedi, South Africa, are continuing to flow gas. Says gas flow rates will be measured once the wells stabilise and stop surging. "Tlou is confident that with the in-house knowledge gained from recent drilling efforts, extracting more and more gas out of the coal reservoir will become progressively simpler and more cost effective due to economies of scale", it says. Adds that The 66 kilovolt electricity transmission line connecting its Lesedi power generation site to the power grid has been constructed and the line has been connected to the Serowe substation. Minor finishing works and the addition of switchgear at the Serowe substation will be done before the line is energised. Says this will happen as soon as the substation at Lesedi is complete, which is expected halfway through 2024. "The transmission line is a vital element of the Lesedi project. With the completion of the transmission line, the Lesedi project is no longer isolated from Botswana's electricity market and is now connected to the broader Southern African Power Pool", Tlou says.

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IN BRIEF: Tlou Energy pushes AUD13.3 million fundraise to January 31

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IN BRIEF: Tlou Energy in entitlement offer to raise AUD13.3 million

Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Announces entitlement offer for four new ordinary shares for every eleven ordinary shares held, at a price of AUD0.035 each to raise AUD13.3 million. Explains the offer is open to ASX and BSE shareholders only. Says certain directors are participating in the entitlement offer with commitments in place for a minimum of AUD613,308. Funds raised and existing capital will go towards development of Tlou's Lesedi power project and working capital.

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