TRADING UPDATES: Literacy assets rise; Dotdigital revenue improves

(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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Hansard Global PLC - Isle of Man-based long-term savings provider - Says that new business amounted to GBP8.6 million in the three months to December 31 in present value of new business premiums terms. New business for the second half of the year was GBP43.4 million. Assets under administration stood at GBP1.10 billion as at December 31, unchanged from June 30, it says. Continues to make good progress towards launching a new proposition in the Middle East to assist in growing its business.

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Blackstone Loan Financing Ltd - Jersey-based closed-ended investment company - Says that it is giving "consideration" to a potential exit opportunity for shareholders, either as a one-off event or over regular intervals. Intends to consult with shareholders over the potential for a reallocation of its excess net income. Explains that there could be an expansion of the existing share buyback programme, a further increase in the quarterly or annual dividend level, or direct primary market collateralized loan obligation income note investments in Blackstone managed and controlled CLOs, or any combination.

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JPMorgan Emerging Europe, Middle East & Africa Securities PLC - investor in emerging European nations, Middle East and Africa - Net asset value per share as at October 31 fell 95% to 46.7 pence from 973.6p on the same date a year before. Attributes the fall to the war in Ukraine and the imposition of strict economic sanctions by western governments on Russia and the Russian government's restrictions on the foreign ownership of Russian securities that followed. Looking ahead, it says that new investments will have a tilt towards income and quality.

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Literacy Capital PLC - also known as BOOK, invests in founder-led and owned businesses - Net asset value per share of stands at 420.6 pence as at December 31, up from 384.9 pence as at September 30. Records a total NAV return of 9.3% during the quarter. Says that its portfolio companies continued to trade well, with RCI Group contributing particularly strongly in the quarter. "We have continued to make progress rebalancing the portfolio away from earlier stage, growth capital investments (which now equate to just 5% of gross assets), and towards buyouts of smaller, profitable businesses. These types of investments in profitable businesses will remain our focus, due to the favourable returns that can be generated, whilst taking lower levels of risk," Richard Pindar, CEO of Literacy Capital's investment manager, says.

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Fiinu PLC - Surrey, England-based fintech company - Makes progress in hiring key personnel and building systems for Fiinu Bank. Says that it will focus on raising funds of GBP35 million to GBP40 million, as previously announced. Completes core banking platform configuration and testing. Signs a contract with services company Maveric NXT, to provide additional strong industry experience and support for three months of assurance testing.

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Dotdigital Group PLC - London-based online marketing - Revenue for the first half of the year which ended December 31 was up 9% to GBP33.8 million compared to the same period a year before in which it recorded GBP30.9 million, it says. Cash balance on December 31 amounts to GBP49.6 million, up from GBP43.9 million as at June 30. Credits operational building blocks put in place in the second half of the prior year for its performance.

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By Abby Amoakuh, Alliance News reporter

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