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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Botswana Diamonds PLC - Botswana and South Africa-focused diamond explorer - In the year ended September 30, posts a pretax loss of £738,992, widening form a loss of £472,107 the previous year. Books impairment costs of its exploration and evaluation assets of £253,380, up from £70,018 a year prior. Administrative expenses widen to £485,612 from £402,089. Reports a ‘significant’ recovery from the impact of Covid during the year and notes prices have increased ‘substantially’. However, says that the ‘global recession’ and ‘turbulence’ in China make the near-term future ‘rocky’.
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Templeton Emerging Markets Investment Trust PLC - Edinburgh-based investment trust investing mainly in emerging markets companies - Reports a total net asset value return of negative 8.3% over the six months to September 30, compared to a negative 7.4% return for its benchmark index, the MSCI Emerging Markets Index. From September 30 to December 3, it has seen a ‘small’ recovery in markets, reporting a total NAV return of 6.0% over the period, compared to 1.7% for its benchmark index. Declares an interim dividend of 2.00 pence per share, doubled from 1.00p the year prior. Widens net loss on investments and foreign exchange to £215.5 million in the half, from a loss of £204.0 million the year prior. Pretax loss, however, narrows to £170.7 million from £185.2 million.
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Barings Emerging EMEA Opportunities PLC - Leeds, England-based investment firm investing mainly in emerging and frontier equity securities listed or traded on Eastern European, Middle Eastern and African securities markets - Net asset value at September 30 amounted to 632.1 pence per share, down 31% from 920.7p at the same time a year prior. Total NAV return for the year ended September 30 is negative 29.9%, compared to a total NAV return of negative 20.1% from the company’s benchmark over the same period. Says its investments in Russia were responsible for the ‘vast majority’ of the decline in its net asset value. ‘Another factor in the underperformance against the Benchmark was our underweight allocation to energy stocks,’ the firm adds. Expects its investment to be impacted by global trends such as inflation and raising interest rates moving forward.
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Blackrock Frontiers Investment Trust PLC - London-based investment trust investing in companies in frontier markets - Net asset value at September 30 is 127.75 pence per share, up from 122.50p at the same time a year prior. Total NAV return, in sterling terms, over the year ended September 30 is 7.7%, compared to 12.0% for the company’s benchmark index. In US dollar terms, reports a net asset value of 159.86 US cents at September 30, down from 186.33 cents at the same time a year prior. NAV return, in US dollar terms, over the period is negative 10.9%, compared to a return of negative 7.3% for the company’s benchmark. Looking forward, Blackrock Frontiers says it believes that frontier and smaller emerging markets are ‘very well-positioned’ as global inflation starts to ‘peak out’. Firm appoints Katrina Hart as senior independent director, effective immediately.
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