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Pin to quick picksTaylor Maritim Share News (TMIP)

Share Price Information for Taylor Maritim (TMIP)

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Share Price: 83.50
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Change: -1.00 (-1.18%)
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Open: 84.50
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EARNINGS UPDATES: Airea profit down on costs; Scholium ends year well

Thu, 27th Jul 2023 14:23

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

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Airea PLC - West Yorkshire-based flooring company - For the six months ended June 30, reports pretax profit of GBP620,000, down 5.4% from GBP656,000 a year prior. Meanwhile, revenue rises 15% to GBP9.8 million from GBP8.6 million. This comes as operating costs widen to GBP9.3 million from GBP7.9 million the previous year. Earnings per share fall to 1.18 pence from 1.58p year-on-year. Airea says that given its plans to continue investing in the future of the business, "coupled with the continued levels of uncertainty in the market and the wider economy", it will continue to prioritise the preservation of cash. Therefore, it will not pay an interim dividend, unchanged from last year.

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Scholium Group PLC - London-based rare books, arts and collectables - For the year ended March 31, reports pretax profit of GBP231,000, up 30% from GBP177,000 year-on-year. Revenue increases 11% to GBP9.1 million from GBP8.1 million. Total earnings per share are 1.70p, up from 1.13p a year prior. Does not propose to declare a dividend, unchanged from last year. Chair David Harland says: "Trading conditions initially improved in the year under review, particularly for the first eight months. The trading environment then became far more challenging for the last four. However, trading for the first three months of the current year has been profitable, which is encouraging. Although the global outlook continues to be challenging, we remain cautiously optimistic."

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Sylvania Platinum Ltd - Bermuda-based, South Africa-focused platinum miner - For the fourth quarter ended June 30, reports revenue of USD21.8 million, down 13% from USD25.0 million in the third quarter, and 38% from USD34.9 million for the same period a year prior. Group earnings before interest, tax, depreciation and amortisation are USD7.8 million, down from USD9.8 million in the third quarter, and from USD16.8 million the previous year. Says Sylvania Dump Operations produced 19,072 4E platinum group metals ounces in fourth quarter, up from 17,926 ounces in the third quarter, but down from 18,837 ounces in the same period a year ago.

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Foxtons Group PLC - London-based estate agency - For the six months ended June 30, reports revenue of GBP70.9 million, up 8.9% from GBP65.1 million a year prior. Pretax profit surges 42% to GBP6.1 million from GBP4.3 million. Says lettings revenue since June has been in line with first-half trends, and sales volumes were ahead of the first half. However, new buyer enquiries softened in July due to the spike in mortgage rates. Chief Executive Officer Guy Gittins says: "In the first half of the year, we cemented our position as London's largest lettings and sales estate agency brand. We not only had the largest market share of instruction volumes in London, but we also grew instruction market share quicker than any of our competitors as recently implemented operational upgrades yielded significant gains."

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Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Says net asset value at March 31 was USD1.71 per share, down by 1.7% from USD1.74 per share a year prior. Reports a NAV total return of 4.7%, down from 81% the year before. Pretax profit plunges by 90% to USD26.2 million from USD252.8 million in financial 2022, as total income fell by 86% to USD36.1 million. Declares a dividend of USD10.97 cents, up from USD3.50 cents in financial 2022.

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By Holly Beveridge and Sabrina Penty, Alliance News reporters

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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26 Apr 2024 20:59

EARNINGS AND TRADING: Aura confident in Tiris; Cindrigo enters Germany

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

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5 Apr 2024 13:23

Taylor Maritime set to become sole owner of Grindrod Shipping

(Sharecast News) - Taylor Maritime Investments announced a proposal by its subsidiary, Grindrod Shipping Holdings, to conduct selective capital reduction on Friday.

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15 Mar 2024 20:36

IN BRIEF: Taylor Maritime CEO Edward Buttery buys 200,000 shares

Taylor Maritime Investments Ltd - specialist dry bulk shipping company - Chief Executive Edward Buttery buys 200,000 shares at USD0.98 each. Worth USD196,000. Buttery now holds 615,000 shares.

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8 Mar 2024 12:58

DIRECTOR DEALINGS: AO World non-exec director invests GBP600,000

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Thursday and Friday and not separately reported by Alliance News:

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6 Mar 2024 14:57

DIRECTOR DEALINGS: CRH non-exec director buys USD2.5 million in shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and Wednesday and not separately reported by Alliance News:

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11 Dec 2023 12:56

IN BRIEF: Taylor Maritime Investments holds dividend amid asset fall

Taylor Maritime Investments Ltd - Guernsey-registered specialist dry bulk shipping investor - Net asset value per share is USD1.3117 on September 30, the end of the company's financial first half, down 34% from USD1.7144 on March 31. Total net assets are USD433.2 million, down from USD566.1 million in March. NAV total return for the recent six months is negative 21%. Half-year pretax loss is USD120.1 million, swung from a USD7.6 million profit a year before. Declares quarterly dividend of 2 US cents, unchanged on a year before, as it continues to target an 8p dividend for the full year, also unchanged. Looking ahead to 2024, Taylor Maritime says the expected restocking of historically low inventories of bulk commodities globally should partially offset the damping effect on shipping demand caused by higher interest rates. Taylor Maritime's fleet following its acquisition of Grindrod Shipping in South Africa earlier this year is 44 vessels.

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5 Dec 2023 14:28

IN BRIEF: Taylor Maritime Investments sells vessel for USD7.8 million

Taylor Maritime Investments Ltd - specialist dry bulk shipping company - Announces the sale of a 2004-built 34,000 deadweight tonne Handysize vessel for USD7.8 million, generating an internal rate of return of 44%. Further, adds that a previously announced sale of a 2007-built 33,000 deadweight tonne vessel completed earlier this month, generating gross proceeds of USD9.0 million. Taylor Maritime says that USD11.4 million of debt will be repaid by the end of the quarter to December 31 as a result of the sales. This will reduce the company's outstanding debt to USD156.2 million.

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25 Oct 2023 16:40

IN BRIEF: Taylor Maritime says asset value down in second quarter

Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Net asset value as at September 30 is USD1.31 per share, down from USD1.56 as at June 30. NAV total return for the quarter is negative 13.5%. Declares dividend of 2 US cents per share for the period, unchanged from the prior quarter. Taylor says main driver of NAV performance was a USD72.7 million decrease in fair value, due to softer asset values caused by a weaker charter market. Notes seven ship sales agreed or completed between Taylor and Grindrod Shipping Holdings Ltd, a Singapore-based shipping firm 83% owned by Taylor. Outstanding debt decreases to USD167.6 million as at September 30 from USD210.1 million as at June 30.

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2 Oct 2023 17:39

IN BRIEF: Taylor Maritime subsidiary confirms capital reduction timing

Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Subsidiary Grindrod Shipping Holdings Ltd confirms timings of its proposed capital reduction. Explains it will result in a cash distribution of USD32.44 million in two tranches; the first distribution of USS1.016 per share, payable on October 26, and the second distribution of USD0.63 per ordinary share, payable on December 11. Of the total cash distribution, USD26.68 million would be payable to TMI in line with its 83.23% ownership and is expected to be used to further reduce debt and for general corporate purposes.

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27 Sep 2023 11:48

Taylor Maritime updates existing credit and acquisition facilities

(Alliance News) - Taylor Maritime Investments Ltd on Wednesday said it agreed to replace its existing revolving credit facility and acquisition facility with a new RCF with Nordea Bank Abp, Filial i Norge and Skandinaviska Enskilda Banken AB.

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15 Sep 2023 16:28

IN BRIEF: Taylor Maritime Chair Henry Strutt buys 74,000 shares

Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Non-executive Director & Chair Henry Strutt buys 74,000 shares at USD0.845, worth USD62,530, in London on Wednesday. This is the only shares Strutt holds, represents a 0.022% stake.

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31 May 2023 10:40

Taylor Maritime appoints new permanent non-executive chair

(Alliance News) - Taylor Maritime Investments Ltd on Wednesday said it has appointed Henry Strutt as non-executive chair, effective from Thursday, replacing Interim Chair Frank Dunne.

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22 Mar 2023 10:28

Grindrod Shipping interim Chief Executive Stephen Griffiths to retire

(Alliance News) - Grindrod Shipping Holdings Ltd said on Wednesday its interim Chief Executive Stephen Griffiths will retire at the end of this month to make way for Edward Buttery to take the helm at the recently acquired subsidiary.

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21 Mar 2023 10:32

Taylor Maritime chief executive officer also becomes subsidiary CEO

(Alliance News) - Taylor Maritime Investments Ltd on Tuesday said Chief Executive Officer Edward Buttery will be appointed CEO of its recently acquired subsidiary Grindrod Shipping Holdings Ltd, effective April 1.

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