TRADING UPDATES: Asimilar to list on AQSE; Spectral MD swings to loss

Mon, 21st Mar 2022 12:12

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

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Asimilar Group PLC - London-based investment firm - For the year ended September 30, pretax profit jumps to GBP26.7 million from GBP392,329 the year before, due to a gain of GBP25.7 million in the remeasurement to the fair value of investments. Total assets as at GBP41.5 million, more than tripled from GBP10.6 million the prior year, following positive developments in its portfolio firms, including Dev Clever Holdings PLC, Audioboom Group PLC. Looking ahead, Asimilar plans to list on the Aquis Stock Exchange, believing that it can improve liquidity in nascent companies, and will give the company itself options in case it ever decides to cancel its AIM listing. Currently plans to remain listed on London's AIM, however.

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Spectra Systems Corp - Rhode Island-based authentication technology provider - For 2021, pretax profit rises 9.3% to USD5.9 million from USD5.4 million, on revenue which grows 13% year-on-year to USD16.6 million from USD14.7 million due to larger demand for materials to meet higher banknote demands on its central bank customers, and increased sales of its optical material used in K-cups. Declares annual dividend of 11 US cents per share. "The board therefore believes that the company, by achieving key business milestones, will continue to perform well and has excellent prospects for maintaining strong earnings in 2022 and beyond," said Chief Executive Officer Nabil Lawandy.

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Plexus Holdings PLC - West Sussex-based engineering services provider - For the six months ended December 31, pretax loss flat year-on-year at GBP2.0 million, in spite of a slight reduction in administrative costs . Says revenue grows 75% to GBP734,000 from GBP419,000, through an increase in operational activity. Looking ahead, Plexus expects to benefit from strong market drivers in the oil and gas industry, including the demand for oil and gas being likely to outstrip supply for some time.

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Spectral MD Holdings Ltd - London and Dallas, Texas-based predictive analytics for wound care - For 2021, swings to pretax loss of USD4.2 million from profit of USD1.4 million, due to a considerable rise in administrative costs and a 12% decline in revenue to USD15.2 million from USD17.3 million. Grant revenue from BARDA remains the company's largest source of funding. "The company is well positioned to achieve further key milestones that are foundational to our planned regulatory approvals and commercialization plans. Over the course of 2022 and 2023, we will accelerate investment in key management hires and commercialization efforts to enhance the company's readiness to obtain significant government support for placement of our devices in over 5,000 US based hospitals," said CEO Wensheng Fan.

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Beeks Financial Group PLC - Scotland-based cloud computing and connectivity provider for financial markets - For the six months ended December 31, swings to pretax loss of GBP266,000 from a profit of GBP500,000, due to increased investment into the business including people, operations and products. Revenue meanwhile increases 46% to GBP7.7 million from GBP5.3 million, of which 89% is recurring. Looking ahead, notes continued sales momentum, with record trading in third quarter with over USD8.3 million to date in total contracted value, and expects to achieve its annual results in line with market expectations.

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India Capital Growth Fund Ltd - investment firm - For 2021, net asset value total return is 38%, underperforming the BSE Midcap TR Index, which rises 40%. As at December 31, net asset value per share increases 38% at 134.74 pence from 97.70p the same date a year prior. The company's share price at the end of 2021 is 119.75p, reflecting a narrowed discount to NAV at 11% from 14%. "The Russian invasion of Ukraine has seen the world turned upside down. While India seems far away from the conflict, the mood of investors has been to reduce exposure to emerging markets and to take risk off the table. Of course, the Indian equity market has fallen as a result," said Chair Elisabeth Scott.

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Marlowe PLC - London-based company focused on business safety and regulatory compliance - For the year ending March 31, trading is expected to be in line with market expectations, as the integration of recent acquisitions proceed as planned.

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VH Global Sustainable Energy Opportunities PLC - investment company - In maiden period from October 30, 2020 to December 31, company achieves net asset value per share of 104 pence, with a total shareholder return of 8.3%. As at December 31, portfolio spans 24 assets across US, UK, Australia and Brazil. Looking ahead, targets annual dividend of 5.0p.

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Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Provides mineral resource for its Zafar polymetallic deposit, which has 28,000 tonnes of copper, 73,000 ounces of gold and 36,000 tonnes of zinc. There is 6.8 million tonnes of mineralisation with average grades of 0.5% copper, 0.6% zinc and 0.4 grams per tonne of gold.

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By Dayo Laniyan; dayolaniyan@alliancenews.com