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 £149.7 million from £25.5 million in 2020. Pretax loss stretches to £14.5 million from £10.7 million, however. Finance costs climb to £4.9 million from £554,000. Assets under management and advice rise to £6.77 billion at year end from £5.91 billion in 2020.
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Shield Therapeutics PLC - Newcastle, England-based commercial-stage pharmaceutical company - Says revenue in 2021 falls to $1.5 million from $10.4 million in 2020. Pretax loss widens to $19.6 million from $1.9 million. Selling, general and administrative expenses more than double to $20.0 million from $8.6 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 $10 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 $30 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 $800,000 from $600,000 a year earlier. Net loss widens to $14.7 million from $8.8 million. Total operating expenses climb 72% to $14.7 million from $8.5 million.
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Starcrest Education Ltd - developer and operator of education services in Europe - Pretax loss in 2021 narrows to £1.4 million from £1.5 million in 2020. Administrative expenses are trimmed 9.5% to £1.4 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 £514,000 from £697,000.
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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 £31.8 million from £1.5 million. Posts nominal revenue of £27,000. 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 $1.8 million from $2.7 million. Administrative expenses fall 42% to $1.8 million from $3.1 million.
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