The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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ProCook Group PLC - Gloucester-based kitchenware retailer - Posts revenue of £27.4 million for the 28 weeks ended on October 16, down 15% from £32.0 million the year before. Swings to pretax loss of £3.5 million from a profit of £2.4 million. ProCook notes ‘challenging trading conditions driven by the combined effects of heightened pressures on consumer spending and the prolonged hot summer weather’. Looking ahead, says revenue in the eight weeks to date has improved on the first half, but remains weaker than anticipated at minus 5.7% year-on-year.
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CyanConnode Holdings PLC - gold miner with operations in Armenia and assets in Kyrgyzstan - Reports revenue of £1.3 million for the six months ended September 30, down 68% from £4.1 million the year before, ‘in line with expectations’. Pretax loss widens to £2.4 million, as gross profit plunges to £665,000 from £1.7 million. Operating loss amounts to £2.4 million, widened from £1.2 million the year before. ‘The increase in operating costs was mainly due to the growth of the business and increasing inflation rates’, it notes. Looking ahead, says revenue for financial 2023 is expected to market forecasts.
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Unicorn AIM VCT PLC - Devon-based venture capital trust - Net asset value per share stands at 134.8 pence as at September 30, down significantly versus 248.6 pence on the same date a year before. ‘The decline in total net assets per share during the financial year was disappointing and painful’, it notes. Swings to a total loss of £105.2 million for the financial year, compared to a £111.1 million profit. Declares a final dividend of 3.5 pence per share for financial 2022, bringing the total dividend to 45.4p. Looking ahead, says short-term outlook remains weak, saying its NAV performance will remain under pressure.
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abrdn New Dawn Investment Trust PLC - investor in companies in the Asia-Pacific region - For the six months ended October 31, net asset value total return is minus 12.7%, compared to the benchmark MSCI All Countries Asia Pacific ex Japan Index, which posted a negative return of 13.7%. As at the end of October, NAV per share is 280.90p, down 14% from 325.17p as at April 30. Declares an interim dividend of 1.0p per share, unchanged from a year prior. Looking ahead, says ‘whilst the headwinds experienced in the period are likely to continue to cause market volatility in the short term, it is important to note that this potentially creates some good opportunities to invest at more attractive valuations, and the longer-term advantages of having exposure to growing Asian economies remain very much in place’.
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