EARNINGS UPDATES: Katoro and Newmark Security report swing to loss

(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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Katoro Gold PLC - exploration and development company - Reports a swing to a pretax loss of GBP771,791 in the six months to the end of June compared to a pretax profit of GBP364,743 reported in the first half of 2020. A year ago, the profit came from a disposal of a subsidiary for GBP815,691. Katoro says it is currently in the processes of compiling a comprehensive funding package in accordance with the Blyvoor joint venture that will allow the construction, commissioning and operation of a mining and processing facility in South Africa.

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Newmark Security PLC - electronic and physical security systems provider - Says revenue was at GBP17.7 million for the financial year that ended on April 30 versus GBP18.8 million, a decrease of 5.9% year-on-year. As a result, the company swung to a pretax loss of GBP126,000 from GBP231,000 profit recorded the year prior. Despite that, Chair Maurice Dwek says: "I am confident we are set up for growth and, overall, expect the group to show an increase in revenue in the coming year."

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Orient Telecoms PLC - information technology company - Reports "an outstanding" performance for the financial year ended March 31, which saw revenue increase by 34% to GBP807,000 from GBP601,000 the year before. The company swings to a pretax profit of GBP83,572 from GBP13,915 loss posted the year ago. For its current financial year, the company says its aim is to continue to develop customer-led end-to-end hi-tech solutions not only to serve the B2B sector but also to attend to the government agencies and public work departments.

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Primorus Investments PLC - investment firm - Reports a strong balance sheet with no debt and with total assets as at June 30 amounting to GBP9.2 million versus GBP8.1 million a year earlier. The operating loss for the first six months of 2021 was GBP115,000, swinging from a profit of GBP3.3 million a year before. Despite that, the company says it remains confident that significant opportunities exist for the company going forward.

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British Smaller Cos VCT2 PLC - investment firm - Reports net asset value per share as at June 30 of 63.5 pence, up from 55.0p recorded at the end of 2020. The company is declaring a second interim dividend of 1.5p per share for 2021, which, following the dividend of 1.5p per share paid on March 5, will bring total dividends paid in the current financial year to 3.0p per share.

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British Smaller Cos VCT PLC - investment company - Reports NAV per share as at June 30 of 88.2p, up from 75.8p on March 31. The company paid a dividend of 2.0p per share during the period. Over the quarter to June 30, the portfolio valuation has increased by GBP18.3 million.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

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