The following is a round-up of business updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Chelverton Growth Trust PLC - seeks income through investments in mid- to small-cap UK companies - Net asset value at August 31 falls 5.9% to 54.24 pence per share from 57.62p a year ago. Says that ‘it is hoped’ that over the next 12 months the firm will see a return to more stable conditions and sustainable and steady growth. ‘The market dislocation caused by Covid-19 and associated lockdowns should begin to reduce, and the political and social fallout from the Ukrainian war will hopefully abate,’ Chair Kevin Allen says.
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Georgia Capital PLC - Tbilisi, Georgia-based investor in businesses in Georgia - Net asset value at September 30 grows 8.2% to ₾57.04, which is around $21.17, from ₾52.71 at June 30. In sterling terms, NAV climbs 26% to £18.55 per share from £14.78 over the same three-month period, reflecting a 16% appreciation of the Georgian lari against sterling during the quarter. ‘The value creation due to changes in valuation multiples and foreign exchange reflects the strong outlook of our private portfolio companies, supported by the resilience of the Georgian economy, notwithstanding the continued uncertainties surrounding the regional geopolitical tensions,’ Georgia Capital says. Firm notes ₾137.1 million value creation in the third quarter on the back of lari’s appreciation against the dollar and the euro.
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Gunsynd PLC - London-based investment company focused on the natural resources, life sciences & alcohol sector - Notes preliminary ‘high-level’ report from gold and base metals exploration investee Rincon Resources Ltd. Reports similarities between Rincon’s Pokali prospect and a Niobium rare earth discovery by WA1 Resources Ltd, both in Western Australia. The Pokali target is within Rincon’s 100% owned Kiwirrkurra iron oxide copper gold project.
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Gym Group PLC - Croydon-based low-cost gym chain - In the four months to October 31, gym membership increases by 17% to 838,000 members from 718,000 at the end of 2021. Revenue in the first 10 months of 2022 surges 78% to £143.2 million from £80.5 million a year ago. Expects utility costs to increase by £8 million to £10 million in 2023 versus 2022. ‘Despite these headwinds, the board remains excited about the market opportunities ahead and The Gym Group’s ability to capitalise upon them,’ it says. Gym Group notes that it is on track to roll out 28 new openings during 2022, with 23 so far opened, and plans 25 to 30 new openings in 2023.
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