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EARNINGS UPDATES: Everyman revenue doubles; Aeorema in interim profit

Fri, 25th Mar 2022 13:21

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

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Everyman Media Group PLC - London-based cinema company - Revenue doubles to GBP49.0 million in 2021 from GBP24.2 million in 2020 - though remains below pre-pandemic level of GBP65.0 million - and pretax loss narrows to GBP5.4 million from GBP21.8 million. Says 2021 included normal trading with full capacity for 24 weeks, nine weeks of reduced capacity due to Covid-19 restrictions, and 19 weeks full closure. Admissions increased 67% to 2.0 million. Says since re-opening, it has delivered positive adjusted profit every month as well as admission levels and average spends being higher than expectations. "We are optimistic for the coming year, with customers continuing to appreciate the unique Everyman experience. Alongside this, a strong and varied film slate is anticipated, with a good mix of both the major releases and the well-watched independent films that our customers enjoy. So far in 2022 admissions momentum has continued," says Everyman.

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Aeorema Communications PLC - London-based live events agency - Revenue for half-year to December 31 jumps to GBP4.9 million from GBP1.7 million year-on-year, and swings to pretax profit of GBP255,677 from loss of GBP287,676. Says this is first profitable interim period "for a number of years". "During the period under review, we have received an unprecedented demand for our bespoke services from a wide range of blue-chip clients across a number of industries." firm says, adding consultancy services offering also boosted performance. Has strong outlook for second half.

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Faron Pharmaceuticals Oy - Turku, Finland-based clinical-stage biopharmaceutical company - Loss for 2021 widens to EUR21.2 million from EUR16.9 million in 2020, with no revenue recorded in either period. Flags progress across pipeline programmes during the year, including for Bexmarilimab, a novel precision cancer immunotherapy candidate, and for Traumakine, with dosing started in a trial investigating the treatment in hospitalised Covid-19 patients. "Despite the difficult funding environment due to Covid-19, Faron has successfully secured further investment over the period to progress its pipeline. This is testament not only to the potential of our product candidates but also to the expertise and credibility of the management team," firm says.

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VinaCapital Vietnam Opportunity Fund Ltd - Vietnam-focused investor - Net asset value per share USD8.54 at end of December, with total return over the half-year 6.9%. NAV per share stood at USD8.07 at June 30. Says investment manager delivered "respectable" results amid volatility in second half of 2021. "In 2022 to date, the Vietnam market has shown some resilience against the background of an increasingly volatile investment market in more developed countries and, most recently, the turmoil following Russia's invasion of Ukraine," it says. On Thursday declared dividend of 8.0 cents. "Although the board remains committed to its policy of distributing dividends representing approximately 1% of net asset value each half year, given the current global uncertainties, the board has decided not to increase the dividend at this stage but will review the dividend again once the results for the full year are known," it says.

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GCM Resources PLC - Phulbari coal and power project in north-west Bangladesh - Says performance over six months to December 31 was hindered by pandemic as "Bangladesh, unlike most of Europe, did not move from the rolling lock-downs until late August and the return to 'business as usual' has been slow." Pretax loss for half slims to GBP763,000 from GBP1.1 million, however. "Over the next 12 months, the company will seek to further strengthen GCM's financial position and provide future funding, and the directors remain confident that sufficient funding will be obtained as and when required," it says.

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Secured Income Fund PLC - specialist secured-lending income investment trust - Net asset value per share 25.10 pence at end of December, down from 36.28p at end of June and 78.26p a year ago. Says it continued to focus on returning capital to shareholders in "efficiently and in a timely manner", after wind-down proposals were adopted in September 2020. "The primary focus remains unchanged in the managed wind-down, achieving a balance between maximising the value received from the remaining assets and making timely returns of capital to Shareholders. The board expects to have realised most of the remaining portfolio within the next two years," it says.

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UK Oil & Gas PLC - London-based oil and gas company focused on operations in the UK - Revenue for financial year ended September 30 jumps to GBP1.6 million from GBP908,000 the year before, and pretax loss slims to GBP4.8 million from GBPP20.9 million. Impairment expense reduces to GBP1.5 million from GBP10.7 million. Notes oil and gas industry rebounded strongly in 2021, with oil prices hitting their highest levels in six years. "At the time of writing, Brent prices have surpassed USD100 per barrel, with concerns about the omicron variant of Covid-19 easing. This optimism has been tempered by the worrying events in Ukraine which will have a direct impact on our future security," it says. Predicts "busy" 2022. It adds: "The company is reviewing the potential acquisition of further new international producing oil and gas properties which have the potential to deliver potentially significant short term cash flow. These assets also have the potential to become self-funding relatively quickly."

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BMO Private Equity Trust PLC - investor in unlisted companies and specialist private equity funds - Net asset value per share 640.30p at December 31, reflecting total return for the year of 36%. This beats FTSE All-Share Index which returns 18% over the same period. NAV per share stood at 486.17p at end of 2020. Recommends quarterly dividend of 5.65p, taking total for year to 20.04p, equivalent to yield of 4.1%. Says 2021 was "outstanding" year for firm. "The principal drivers of this year's returns have been ongoing recovery from the pandemic and an exceptionally strong flow of realisations across the breadth of the portfolio. Whilst there was clearly some catch up with deals postponed from the previous year, there has also been a genuine increase in the proportion of investment capital allocated towards private equity in general and this has underpinned the strong market," firm says.

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Parkmead Group PLC - Netherlands and UK-focused gas explorer based in London - Revenue for six months to end of December grows to GBP4.6 million from GBP1.5 million year-on-year. Swings to pretax profit of GBP1.3 million from loss of GBP1.4 million. "We have delivered a tripling of our revenue, led by our high-quality Dutch assets and the significant rise in gas prices. The innovative royalty deal we completed last summer is proving to be highly advantageous and is adding considerable value to Parkmead. Parkmead is 100% unhedged and is directly benefitting from these additional gas sales at higher prices," says Executive Chair Tom Cross. Says current gas environment provides "excellent opportunities". Adds it is maintaining appetite for acquisitions into 2022 and is mulling a number of opportunities.

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Triple Point Social Housing REIT PLC - London-based real estate investment trust - EPRA net tangible assets per share rises to 108.27p at end of December from 106.42p a year before. Portfolio value rises to GBP642.0 million from GBP571.5 million on IFRS basis, and portfolio's total annualised rental income was GBP35.8 million as at December 31 versus GBP31.6 million a year ago. Paid dividends totalling 5.20p for the year, in line with target.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
22 Sep 2023 12:45

UKOG sources more powerful perforating guns for Pinarova-1 testing

(Alliance News) - UK Oil & Gas PLC on Friday said it has "finally" sourced larger and more powerful 7-inch perforating guns, following the temporary suspension of Pinarova-1 testing operations in Turkey.

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3 Aug 2023 15:47

IN BRIEF: UK Oil & Gas notes High Court refuses appeal against Loxley

UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Says UK High Court judge Karen Steyn refuses Protect Dunsfold permission to appeal the ruling from July that UKOG's planning consent for its conventional gas and hydrogen feedstock project in Surrey was entirely lawful.

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20 Jul 2023 13:10

UK Oil & Gas up as High Court upholds Loxley planning consent

(Alliance News) - UK Oil & Gas PLC on Thursday said the High Court ruled that planning consent for its conventional gas and hydrogen feedstock project in Surrey, is entirely lawful.

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13 Jul 2023 09:26

UK Oil & Gas to restart oil production at Avington field

(Alliance News) - UK Oil & Gas PLC on Thursday said the Avington joint operating committee has formally agreed to restart oil production at the field in Hampshire, England.

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28 Jun 2023 18:37

TRADING UPDATES: Lansdowne Oil & Gas seeks talks over Barryroe dispute

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

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28 Jun 2023 13:27

UK Oil & Gas announces £3m committed funding facility

(Sharecast News) - UK Oil & Gas announced a £3m committed funding facility through a loan agreement with RiverFort Global Opportunities PCC and YA II PN on Wednesday.

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26 Jun 2023 15:17

IN BRIEF: UK Oil & Gas reports interim loss and revenue decline

UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Says in its six months ended March 31 that its pretax loss slightly widens to GBP1.39 million from GBP1.35 million the year before. Interim revenue drops to GBP890,000 from GBP911,000 the year prior. The company also reports an operating loss of GBP1.32 million, slightly higher from GBP1.29 million.

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21 Jun 2023 13:57

IN BRIEF: UK Oil & Gas "convinced" Horse Hill legal backing was lawful

UK Oil & Gas PLC - UK-focussed oil and gas exploration company - Alongside UK government and Surrey County council, will defend a Supreme Court hearing to draw line under long-standing legal action against Horse Hill planning consent. Local resident tried to reverse planning permission that had been granted. UK Oil & Gas says final verdict is likely to be heard in late summer or early autumn. The company says that planning consent remains in force and lawful production continues at the Horse Hill site, in which the company holds an 86% interest.

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8 Jun 2023 21:13

UPDATE: UK Oil & Gas backs Loxley decision amid legal challenge

(Alliance News) - UK Oil & Gas PLC on Thursday backed an earlier decision for planning consent at the Loxley gas discovery, in the face of opposition to the Surrey development.

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8 Jun 2023 07:53

LONDON BRIEFING: Wizz Air expects return to profit in financial 2024

(Alliance News) - Stocks in London were set to open flat on Thursday, with market sentiment cautious amid fears that interest rates have further to rise across the globe.

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8 Jun 2023 06:13

Campaigners begin challenge to UKOG gas drilling in Surrey

(Alliance News) - Environmental campaigners will go to the UK High Court to challenge plans to begin gas drilling in rural Surrey.

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23 May 2023 16:12

TRADING UPDATES: Harworth optimistic on 2027; Plexus extends agreement

(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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3 May 2023 11:40

IN BRIEF: UK Oil & Gas to run tests as Pinarova-1 reaches final depth

UK Oil & Gas PLC - UK-focused oil and gas exploration and production company - Says Pinarova-1 well in Turkey has reached a final depth of 600 metres below surface. Plans are being made to run a selective cased hole flow test operation. Also, oil samples recovered from Pinarova-1 have been dispatched to the UK for geochemical study to assist investigations into the possibility that a deeper light oil accumulation may exist below the Pinarova area within cretaceous limestones.

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28 Apr 2023 15:42

UK shareholder meetings calendar - next 7 days

Monday 1 May 
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CVC Income & Growth LtdAGM
IOG PLCAGM
Ocado Group PLCAGM
Plus500 LtdAGM
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Apax Global Alpha LtdAGM
Barclays PLCAGM
GSK PLCAGM
Hyve Group PLCCourt Meeting & GM re acquisition by Heron UK Bidco Ltd
Logistics Development Group PLCAGM
Okyo Pharma LtdGM re proposed cancellation of the ordinary shares of no par value
Reach PLCAGM
Reckitt Benckiser Group PLCAGM
Standard Chartered PLCAGM
Tritax Big Box REIT PLCAGM
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Aviva PLCAGM
Aviva PLCGM re capital reduction
BAE Systems PLCAGM
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Domino's Pizza Group PLCAGM
Glanbia PLCAGM
Grafton Group PLCAGM
Hammerson PLCAGM
Howden Joinery Group PLCAGM
Hurricane Energy PLCCourt Meeting & GM re takeover by Prax Exploration & Production PLC  
Indivior PLCAGM
IMI PLCAGM
Irish Residential Properties REIT PLCAGM
ITV PLCAGM
Jardine Matheson Holdings LtdAGM
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Mincon Group PLCAGM
Mondi PLCAGM
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Ten Entertainment Group PLCAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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25 Apr 2023 21:00

TRADING UPDATES: Round Hill Music and Jadestone Energy swing to profit

(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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