The following is a round-up of earnings by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Scottish American Investment Co PLC - Edinburgh-based investment trust - Net asset value per share ends June 30 at 471.7 pence, sliding from 529.7p six months earlier. Declares interim dividend of 3.40p, up from 3.075p a year prior. ‘SAINTS’ assets have shown marked resilience against an uncertain backdrop over the first six months of 2022, holding up better than equities generally in a period in which the invasion of Ukraine by Russia, combined with rising inflation and interest rates, has led to a rapid decline in share prices as investors’ risk appetite sharply reduced,’ it says. NAV total return in first half negative 7.6%, outperforming the FTSE All-World Index, which returned negative 10.5%.
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Macau Property Opportunities Fund Ltd - Guernsey-based investment firm - Says portfolio value ends first half of 2022 at $251.5 million, which represents a 3.0% drop since the end of December. Adjusted NAV per share drops 6.7% to $1.83. Points to ‘near-term volatility’ but believes ‘fundamentals remain intact’. It adds: ‘Restrictions on travellers from outside China will continue to limit the number of potential buyers in Macau, and thus impact the timing of company’s divestment plan. We may expect to see further measures to ease travel restrictions for other nationalities once the public health situation stabilises, but we will nevertheless pursue the active divestment of the company’s remaining assets on acceptable terms under current market conditions.’
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Pennant International Group PLC - Cheltenham, England-based training technology and product support provider - Expects revenue for first half of 2022 to be £6.9 million, slipping from £7.4 million a year prior. Notes 52% of revenues generated from software licensing, rising from the year before 35%. Guides for earnings before interest, taxation and amortisation at £100,000, reversing from a £1.0 million loss the year before.
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Microlise Group PLC - Nottingham-based transport management software provider - Expects to report annual recurring revenue of £40.2 million in six months to June 30, which is 11% rise year on year from £36.4 million. ‘Microlise has added 60 new customers and expanded its partnerships with existing customers, including MAN Trucks in Malaysia. The company continues to have high rates of customer retention and very low churn,’ it explains. Notes planned retirement of Chief Financial Officer Bill Wynn in Spring 2023. A search for a replacement is underway and Wynn ‘will support the transition process’.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Buys 40% stake in UK AI firm ZAM Software Ltd. Will issue £700,000 in shares to complete deal. ‘MGC Pharma will continue to fund the development of more functionality in the App as it progresses according to MGC Pharma requirements. MGC Pharma now holds irrevocable and unrestricted access to all clinical information collected by the ZAM App for its own clinical trials and product development in the future,’ it adds.
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Byotrol PLC - Chester, England-based developer of antimicrobial technologies and products - Raises £1.0 million after completing issue of convertible loan notes to new and existing investors. Notes net proceeds will be used to ‘underpin the growth initiatives of the company, including to finance ongoing regulatory approvals in the UK and EU.’
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Novacyt SA - Surrey-based biotechnology group focused on clinical diagnostics - Launches research-use-only polymerase chain reaction assay for the detection of adenovirus F41, in response to recent cases of acute hepatitis in children. ‘This launch expands Novacyt’s genesig real-time PCR diagnostic product portfolio and is in line with the company’s strategy to maintain its position as a global first responder in infectious diseases,’ it adds.
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MySale Group PLC - online retailer in Australia, New Zealand and Singapore - In year to June 30, active customers grew by 15% to 611,000 from 529,000 the year before leading to gross merchandise value increasing 14% to A$142.4 million, about £81.7 million, from A$125.4 million. Expects revenue to drop 20% to A$94.9 million from A$117.9 million. Gross profit seen falling 13% to A$40.2 million from A$46.4 million. ‘Whilst the board continues to take a cautious approach, it believes the long-term outlook remains attractive for MySale to deliver on its ambition to be the leading ANZ off-price curated fashion, beauty and homewares marketplace platform,’ it adds.
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Unbound Group PLC - London-based parent company for a group selling a range of brands focused on the 55-plus demographic - Launches ‘curated multi-brand platform’ as scheduled. ‘The further Autumn Winter launch of the platform is on track to be completed in September,’ it adds. ‘Alongside its core Hotter brand, the group is initially launching with the first 7 chosen partner brands, primarily focused on complementary specialist footwear categories.’
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Amte Power PLC - developer and manufacturer of lithium-ion and sodium-ion battery cells - Selects Dundee, Scotland as the preferred site for its first MegaFactory. The MegaFactory will have the capacity to produce over 25,000 high added-value batteries per day, over 8 million per year. Amte anticipates revenue generation of over £200 million per annum at full production, based on Amte’s customer market engagement. The plant is expected to be operational and in production towards the end of 2025.
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Diversified Energy Co PLC - Alabama, US-based oil and gas company focused in the US - Enters purchase & sale agreement to buy certain upstream assets in Oklahoma and Texas from ConocoPhillips Co for $240 million. Says deal will be fully financed from existing liquidity. Notes net production from assets will increase group production of about 9 MBoepd, which is up 6% versus its first quarter exit rate. Chief Executive Rusty Hutson says: ‘I am pleased to announce another strategically-aligned acquisition at a compelling valuation in the company’s Central Region that reinforces our commitment to create long-term value for shareholders.’
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Jadestone Energy PLC - Perth-based oil and gas development company with assets in Australia, Malaysia, Indonesia, Vietnam and the Philippines - Signs sale & purchase agreement with BP Developments Australia Pty Ltd to buy a non-operated 17% working interest in the Cossack, Wanaea, Lambert, and Hermes oil fields development, offshore Western Australia. Initial cash for deal will be $20 million, funded from existing cash resources, with further payments to the decommissioning trust fund via two equal instalments of $20.5 million. Says it is acquiring 10.4 mmbbls in the deal, comprising 1.5 mmbbls of production, 5.1 mmbbls of 2P reserves and a further 3.9 mmbbls of 2C resource.
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