(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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Kingswood Holdings Ltd - London-based wealth manager - Revenue in 2021 jumps to GBP149.7 million from GBP25.5 million in 2020. Pretax loss stretches to GBP14.5 million from GBP10.7 million, however. Finance costs climb to GBP4.9 million from GBP554,000. Assets under management and advice rise to GBP6.77 billion at year end from GBP5.91 billion in 2020.
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Shield Therapeutics PLC - Newcastle, England-based commercial-stage pharmaceutical company - Says revenue in 2021 falls to USD1.5 million from USD10.4 million in 2020. Pretax loss widens to USD19.6 million from USD1.9 million. Selling, general and administrative expenses more than double to USD20.0 million from USD8.6 million. Notes prescriptions for iron deficiency oral product Accrufer more than double quarter-on-quarter in first quarter of 2022. Shield adds it has agreed a financing deal through a shareholder loan of USD10 million from AOP Orphan International AG. AOP has a 13% stake in company. Interest of 7.0% above 12-month US dollar LIBOR will be paid monthly in arrears. "The shareholder loan will be secured against the US intellectual property rights associated with Accrufer and will be repayable in cash in the event that Shield secures a further debt or equity financing for no less than approximately USD30 million or, in any event, by 31 December 2023," company adds.
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Renalytix PLC - London-based diagnostics company focused on kidney health - Says revenue in third quarter ended March improves to USD800,000 from USD600,000 a year earlier. Net loss widens to USD14.7 million from USD8.8 million. Total operating expenses climb 72% to USD14.7 million from USD8.5 million.
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Starcrest Education Ltd - developer and operator of education services in Europe - Pretax loss in 2021 narrows to GBP1.4 million from GBP1.5 million in 2020. Administrative expenses are trimmed 9.5% to GBP1.4 million. Posts no revenue, unchanged year-on-year. "In line with our strategic focus on education opportunities within the UK and Europe, we have continued, throughout the period, to seek acquisition targets that fit our search criteria and offer attractive growth potential and shareholder returns," Starcrest says. "The board is confident that the company is sufficiently funded and has the appropriate strategy to grow the company."
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Tanfield Group PLC - investment firm headquartered in Newcastle Upon Tyne - Says main investment, Snorkel International Holdings LLC, seeing signs of "markets recovering as the impact of the Covid-19 pandemic reduced". "The board continues to closely monitor performance and is hopeful that 2022 will see a continued recovery and improved sales levels. It is not known whether 2022 will see a return to the pre-Covid-19 sales levels," Tanfield says. Snorkel makes scissor and boom lifts. Tanfield posts no revenue in 2021, unchanged from 2020. Pretax loss narrows to GBP514,000 from GBP697,000.
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Angus Energy PLC - London-based oil and gas development company focused on UK assets - Pretax loss in first half ended March 31 widens to GBP31.8 million from GBP1.5 million. Posts nominal revenue of GBP27,000. Had not reported any revenue in prior year.
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Edge Performance VCT PLC - London-based venture capital trust - Net asset value per share at February 28 year-end increases 3.0% annually to 217.38 pence from 211.08p. "Edge Performance VCT continues to invest in a portfolio of highly regarded creative economy companies, which we expect
to perform strongly in the future. The investment manager works closely with each of these companies to ensure they have the necessary resources of funding, executives, industry experts and support to achieve their potential," Edge Performance adds.
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Amur Minerals Corp - natural resources explorer with assets in Russia - Does not post any revenue in 2021, unchanged from 2020. Pretax loss narrows to USD1.8 million from USD2.7 million. Administrative expenses fall 42% to USD1.8 million from USD3.1 million.
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By Eric Cunha; ericcunha@alliancenews.com
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Kingswood H. (KWG)
Shield Thera (STX)
Renalytix Plc (RENX)
Starcrest Educ. (OBOR)
Tanfield (TAN)
Angus Energy (ANGS)
Amur Minerals (AMC)