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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
21 Apr 2023 14:37

UK Oil & Gas to conduct further tests on encouraging drilling results

(Alliance News) - UK Oil & Gas PLC on Friday hailed progress at Pinarova-1, after "encouraging" findings.

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21 Apr 2023 11:38

UK Oil & Gas finds oil shows at Pinarova-1

(Sharecast News) - UK Oil & Gas announced on Friday that its Pinarova-1 well had encountered oil shows within the target Eocene Hoya limestone sequence.

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21 Apr 2023 09:41

AIM WINNERS & LOSERS: Sureserve up on GBP214.1 million takeover offer

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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18 Apr 2023 14:33

IN BRIEF: UK Oil & Gas to resume drilling at Pinarvova-1 on schedule

UK Oil & Gas PLC - UK-focused oil and gas exploration and production company - Says the casing for the Pinarova-1 well in Turkey is now set and cemented down to 287 metres below surface. Installation of the new wellhead and blow-out prevent assembly is now also nearing completion. Drilling is expected to resume on schedule in the next few days, following final wellhead and blow-out prevent pressure test. Plans to drill "cautiously" through the Hoya target zone and to open-hole test any zones where "good live oil shows" are encountered prior to reaching total depth at around 550 metres below surface.

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13 Apr 2023 14:51

IN BRIEF: UK Oil & Gas shares jump; drilling ahead of schedule

UK Oil & Gas PLC - London-based oil and gas exploration and production company - Says Pinarova-1 has now reached its planned casing point at 291 metres below surface, several days ahead of schedule. Notes that it is planned to test any zones where "good" live oil shows are encountered prior to reaching the estimated total depth of around 500 to 550 metres. Says UKOG's geologist remains on site to help describe Hoya reservoir geology and to identify any live oil to surface in drilling cuttings and/or mud.

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11 Apr 2023 14:41

UK Oil & Gas starts drilling at Pinarova-1

(Sharecast News) - UK Oil & Gas said on Tuesday that drilling operations at Pinarova-1 began on 7 April.

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11 Apr 2023 14:40

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(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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31 Mar 2023 21:49

IN BRIEF: UK Oil & Gas revenue boosted by rising oil prices

UK Oil & Gas PLC - UK and internationally focused energy company - Reports revenue for the full year ended September 30 from sales of oil amounted to GBP1.8 million from GBP1.6 million a year earlier, largely driven by an increase in average sale price from GBP43 per barrel to GBP98 per barrel which was offset by oil production decrease at Horse Hill. Gross profit totalled GBP300,000 compared to a loss of GBP200,000 in 2021. Administration expenses amounted to GBP2.7 million from GBP2.1 million and an operating loss of GBP5.4 million was recorded, widened from GBP3.8 million in 2021. Net cash outflow from operating activities increased to GBP2.0 million from GBP1.4 million a year prior.

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31 Mar 2023 16:39

TRADING UPDATES: FireAngel signs with British Gas; Shanta pours gold

(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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28 Mar 2023 17:52

Pennpetro Energy signs deal with UK Oil & Gas to develop Horse Hill

(Alliance News) - Pennpetro Energy PLC on Tuesday signed an agreement with UK Oil & Gas PLC to farm-in and drill the next infill oil production well at the Horse Hill Oil Field, near Gatwick airport.

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24 Mar 2023 15:57

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Hyve Group PLCTrading Statement
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SigmaRoc PLCFull Year Results
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Animalcare Group PLCFull Year Results
Bango PLCTrading Statement
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Marlowe PLCTrading Statement
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Nanoco Group PLCHalf Year Results
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Petershill Partners PLCFull Year Results
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Regional REIT LtdFull Year Results
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Synthomer PLCFull Year Results
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United Utilities Group PLCTrading Statement
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S4 Capital PLCFull Year Results
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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23 Mar 2023 16:49

UK Oil & Gas notes CPR results on 10% interest in Horndean

(Alliance News) - UK Oil & Gas PLC on Thursday said a new competent persons report has been completed at its 10% owned Horndean field, by Texas-based DeGolyer & MacNaughton consultancy.

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13 Mar 2023 13:56

IN BRIEF: UK Oil & Gas begins Pinarova-1 construction on time

UK Oil & Gas PLC - London-based oil and gas exploration and production company - Says construction of TPinarova-1's drilling pad and access road commenced on schedule over the weekend in Turkey. Site construction is expected to take around 14 to 21 days. Given no adverse weather-related construction delays, drilling to a total depth of around 500-550 metres below surface is expected to commence towards the end of March to early April 2023 directly after site completion.

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6 Mar 2023 11:15

IN BRIEF: UK Oil & Gas gets formal consent for Turkish well objectives

UK Oil & Gas PLC - London-based oil and gas exploration and production company - Secures written consent from Turkey's General Directorate of Mining and Petroleum Affairs for the Pinarova-1 exploration well's geological and technical objectives and design.

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3 Mar 2023 16:27

UK Oil & Gas to proceed with Loxley project after court ruling

(Alliance News) - UK Oil & Gas PLC on Friday said it will proceed with its Loxley gas discovery, after a court judge dismissed attempts to reverse the Secretary of State's grant of planning consent as being unarguable.

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