The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Civitas Social Housing PLC - Exeter, England-based healthcare real estate investment trust - Announces continued increase in rental income, noting that collections were in line with expectations of lease terms. Civitas cites rental growth of 6.0% in half-year to September 30, which it initially reported in December, explaining that this trend of rental growth has stayed. The company will release its net asset value as at December 31 on February 8.
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DP Eurasia NV - master franchisee for US brand owner Domino’s Pizza Inc in Russia, as well as in Turkey, Azerbaijan and Georgia - Group system sales rise 77% to ₺4.21 billion in 2022, about $220 million, growing 77% from ₺2.39 billion in 2021, or 13% after IAS 29. IAS 29 is an accounting rule for hyper-inflationary economies, which applies to Turkey. For continuing operations, excluding-Russia, total sales are up 76% from a year ago or 1.5% after IAS 29. Total sales from continuing operations are ₺3.09 billion, compared to ₺1.12 billion from Russia. Like-for-like sales excluding Russia rise 62% in 2022, but are down 5.3% after IAS 29. Company expects to report 2022 adjusted earnings before interest, tax, depreciation and amortisation ahead of market expectations. The company counts 700 stores excluding Russia on December 31, up from 629 a year prior. Stores in Russia fall to 159 from 188. DP Eurasia continues to evaluate its presence in Russia, but limits investment in meantime.
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Frontier IP Group PLC - London-based intellectual property commercialisation company - Portfolio company Alusid extends product range in collaboration with Imerys SA, a Paris-based company focused on specialty minerals to make floor tiles. Imerys had a revenue of €4.4 billion in 2021 and employs 16,300 people, Frontier says. Frontier IP Chief Executive Officer Neil Crabb says: ‘We’re delighted with Alusid’s success in, first, being one of only two winners from a global competition organised by a multinational group, and second, in developing a wholly new product from Imerys’ by-products. Success provides further validation of the company’s unique technology to recycle industrial waste into premium-quality tiles and surfaces.’
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Completes study to assess impact of ArtemiC on patients suffering long Covid. Says US Food & Drug Administration investigational new drug submission continues to show efficacy and anti-inflammatory effects of CimetrA. Says key US and EU partnerships are extended, noting a $1 million order of ArtemiC that was delivered to US supply and distribution partner AMC Holdings Inc. Regarding its cost reduction goals, says that it implemented a 35% reduction in director fees. Meanwhile, completes an upgrade and recertification of a Slovenian production and research facility.
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RentGuarantor Holdings PLC - London-based provider of rent guarantee services in the UK private rental sector - Guarantees in the fourth quarter of 2022 rise 11% annually, with services demand in 2022 jumping 71% over the same period. Notes positive market outlook and expects further demand in 2023 and beyond. Chief Executive Officer Paul Foy says: ‘We are excited to see what 2023 will bring as we release new technologies and announce more strategic agreements to support tenants across the socio-economic spectrum.’
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Trident Royalties PLC - London-based mining royalty and streaming company - In the fourth quarter of 2022, royalty receipts jump to $3.5 million from USD 375,000 a year ago, and rise 46% from $2.4 million a quarter ago. Looking ahead, Trident Royalties says: ‘The acquisition and aggregation of individual royalties and streams is expected to deliver strong returns for shareholders as assets are acquired on terms reflective of single asset risk compared with the lower risk profile of a diversified, larger scale portfolio. Further value is expected to be delivered by the introduction of conservative levels of leverage through debt. Once scale has been achieved, strong cash generation is expected to support an attractive dividend policy, providing investors with a desirable mix of inflation protection, growth and income.’
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Unicorn AIM VCT PLC - Devon-based venture capital trust - In the quarter to December 31, portfolio performs flat as net asset value for quarter increases by just 0.1% to 135.0p from 134.8p. Underperforms against its benchmark, the FTSE AIM All-Share Index, which grew by 3.6% during the same period. Says underperformance was due to a recovery of AIM-listed businesses that operate within the financial services sector, to which Unicorn has ‘relatively low exposure.’ Adds that life sciences business MaxCyte Inc, in which it ‘holds a meaningful stake’ was under pressure. Looking ahead, Unicorn AIM expects to find ‘exciting’ investment opportunities that can deliver ‘a combination of tax-free dividend income and capital growth.’
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