The following is a round-up of earnings issued by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News:
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Dalata Hotel Group PLC - Dublin-based hotel operator in Ireland and UK - Pretax loss cut dramatically to €11.4 million in 2021 from €111.5 million in 2020, as revenue rises by 40% to €192.0 million from €136.8 million. In 2019, before the pandemic, Dalata recorded €89.7 million in pretax profit on €429.2 million in sales. Revenue per available room jumps to €40.02 from €27.45, though still down from €93.43 in 2019. Occupancy in 2021 is 39.7% at an average room rate of €100.71, up from 30.9% at €88.77 in 2020, though well short of 82.6% at €113.14 in 2019. After a slow start to 2022 due to Omicron, occupancy increased to 62% in February from 38% in January. Like-for-like RevPAR for February is expected to be 91% of the 2019 level. Dalata has opened two new hotels in Manchester so far in 2022 and took a leasehold interest on a hotel in Dusseldorf, Germany, the company’s first step into continental Europe.
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Seplat Energy PLC - produces oil and gas in Nigeria - Swings to pretax profit of $177.3 million in 2021 from loss of $80.2 million in 2020, as revenue soars 38% to $733.2 million from $530.5 million. Working interest production declines by 6.8% to 47,693 barrels of oil equivalent per day from 51,183, but average realised oil price nearly doubles to $70.54 per barrel from $39.95. Guides production of 50,000 to 60,000 boepd in 2022. Capital expenditure is expected to be $160 million, up from $137 million in 2021. The spending will go toward the drilling of at least 10 wells. Declares 2.5 US cents dividend for the fourth quarter, bringing the total annual payout to 10 cents, unchanged on 2020.
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Grit Real Estate Income Group Ltd - pan-African property investment and management - Declares interim dividend of 2.50 US cents per share, up 67% from 1.50 cents, despite 21% fall in distributable earnings per share to 3.08 cents in the six months that ended December 31 from 3.88 a year before. EPRA net reinstatement value declines by 15% to 86.7 cents on December 31 from 102.4 cents on June 30 last year, due to Grit’s equity raise completed in December. Loan-to-value ratio is reduced to 41.4% from 53.1%, with Grit aiming for 35% to 40% in the medium-term.
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Kitwave Group PLC - North Shields, England-based food wholesaler, delivering frozen and chilled goods, such as ice creams, sweets and branded drinks - Pretax profit in the financial year that ended October 31 rises 63% to £2.1 million from £1.3 million in the 18 months that ended October 31, 2020. Revenue is £380.7 million, down from £592.0 million. Kitwave, which listed in on AIM in May last year, says the 12 months was in in line with its expectations, though hurt by lockdown restrictions that closed leisure and hospitality venues. Declares 4.50 pence final dividend for 6.75p full-year payout.
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Wheelsure Holdings PLC - Bedford, England-based industrial engineer focused on fastener safety - Reports pretax loss of £223,958 in financial year that ended August 31, 2021, widened slightly from £203,320 the year before. Revenue drops by 38% to £144,077 from £232,539. ‘The COVID pandemic has affected all businesses and particularly impinged on public transport systems who rely on passenger numbers and government support for their income,’ Chair John Allen explains. ‘All such organisations have been, and, to a lesser extent, continue to be suffering significant income shortfalls. As a supplier to those organisations, our order income has been put under pressure.’
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AIQ Ltd - Cayman Islands-based firm focused on acquiring and developing e-commerce sector businesses - Reports pretax loss of £1.2 million for the financial year that ended October 31 last year, narrowed from a £4.1 million in financial 2020. Revenue shrinks to £61,863 from £154,649. ‘The COVID-19 pandemic, combined with the early nature of the Alchemist Codes business, resulted in a disappointing performance in 2021 with negligible revenue being generated,’ comments Chair Graham Duncan. AIQ bought Malaysian IT solutions developer Alchemist Codes Sdn Bhd early in 2020. ‘Accordingly, the board undertook a strategic review resulting in the implementation of significant cost cutting measures and a refocusing of the strategy of the group. In particular, we are focused on the provision of IT consultancy services to customers who deliver blockchain technology and digital assets.’
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Grand Vision Media Holdings PLC - Hong Kong-based digital media company - Releases annual results for 2020 and promises to issue results for the first half of 2021 in the ‘next few weeks’ and for all of 2021 by June 30. Aims to have share suspension lifted once interim results are out. In 2020, the group’s total comprehensive loss is HK$9.8 million, about £937,765, narrowed from HK$15.0 million, as revenue halves to HK$5.8 million from HK$12.0 million. Has 180 advertising panels in cinemas across China, down from 200 in 2019. Looking ahead: ‘Covid-19 has had a significant adverse effect on the group’s performance in 2020. Sales for 2021 will again be below historic levels as a result of the ongoing travel disruption and intermittent business closures across the region. Cinemas in China are still operating at reduced capacity. Unlike many other parts of the world, Hong Kong is following a zero Covid policy, which has resulted in more business disruption and closures than would otherwise be seen elsewhere. It is uncertain as to when trading conditions will return to normal, but the disruption to the group was experienced throughout 2021, and is expected to last well into 2022.’
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Field Systems Designs Holdings PLC - Dorking, England-based mechanical and electrical design and installation services for water, power, and waste industries - Pretax loss widens to £1.5 million in the six months that ended November 30 from £267,000 a year before, as revenue halves to £2.6 million from £5.7 million. ‘Covid-19 has had a serious impact on the release of work in the UK water industry,’ company explains. ‘The unexpected fall in order intake and turnover due to the pandemic created an excess in labour resources which placed a cost burden on the group with no productive output in return. Key personnel were retained in anticipation of workflows from the water companies which never materialised.’ Expects better second half of the year ending in May as order intake gains momentum in early 2022.
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Crown Place VCT PLC - venture capital trust investing in smaller unquoted UK companies - Net asset value after dividend payments slips to 33.76 pence per share on December 31 last year from 34.79p on June 30, 2021 but is up from 31.13p on December 31, 2020. Total return during recent six months is 1.34p.
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