The following is a round-up of updates by London-listed companies, issued on Monday, or in the case of UK Commercial Property REIT Ltd last Friday, and not separately reported by Alliance News:
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Codex Acquisitions PLC - Investor in clean and renewable energy - Pretax profit from October 11, 2021 to June 30, 2022 stands at £206,444. Same as administrative expenses, with no revenue. Firm had its initial public offering in March 2022. ‘The company’s near-term goal remains focused on evaluating opportunities to acquire and to ultimately undertake one or more acquisitions in the clean and renewable energy sector,’ Codex says.
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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Posts similar annual results as a year ago. In the year that ended June 30, pretax loss widens to A$1.65 million from A$1.62 million a year ago. Posts no revenue in either year. Expenses classified as ‘other’ widen 57% to A$580,820 from A$370,860. Consulting and directors’ fees increase 23% to A$647,641 from A$524,552. Chair Ged Hall states: ‘The board is cognisant of the importance to factor in external factors given these can significantly influence global commodity markets, particularly the conflict in Europe and prospect of tighter monetary policy to reign in inflationary pressures.’
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UK Commercial Property REIT Ltd - FTSE-250 listed Guernsey-based commercial property investment trust - Outperforms all its benchmarks as net asset value climbs. NAV per share at June 30 grows 11% to 112.9 pence from 102.0p at December 31. Total return during the six months improves to 12% from 6.0% a year prior. Declares 1.55p per share dividend, down 5.2% from 1.635p a year ago. Outperforms UKCM Property portfolio, which returned 11%. Outperforms MSCI benchmark, which returned 8.1%. FTSE Real Estate Investment Trusts Index returned negative 19% and FTSE All Share Index returned negative 4.6%. Firm touts diversified portfolio. ‘This performance has been driven by a disciplined investment focus on future fit and operational asset classes that look to capitalise on the imbalance between supply and demand, are underpinned by societal changes that remain highly supportive of the occupational markets and rental growth,’ states Chair Ken McCullagh. Looking ahead, he adds: ‘While we are acutely aware of the broader economic challenges ahead, we believe that we are well placed both in terms of the quality of our portfolio and the strength of our lowly leveraged balance sheet, to continue to deliver shareholder value through a growing level of income.’
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