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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Shanta Gold Ltd - East Africa-focused gold producer and explorer - Revenue in 2022 increases 10% to $114.1 million from $103.6 million. Pretax profit up by almost treble to $2.9 million from $1.0 million. Gold production in 2022 improved by 18% to 65,209 ounces, falling short of lower end of 68,000 ounces guidance range.
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Octopus Renewables Infrastructure Trust PLC - investment trust dedicated to investment in electricity generation assets in countries including the UK, France and Spain - Net asset value per share at end of 2022 improves 7.0% to 109.44 pence, from 102.26p the year prior. Raises yearly payout by 4.8% to 5.24p from 5.00p. Target dividend for 2023 is 5.79p, an increase of 11% from 2022. ‘In a world where energy security and decarbonisation continue to rise to the top of the agenda globally, ORIT’s fundamental objective is to help companies and countries transition to net zero whilst ensuring an attractive level of returns for our shareholders. We remain well positioned to take advantage of opportunities that will create a genuinely positive impact and deliver an attractive, growing dividend,’ Chair Phil Austin says.
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European Assets Trust PLC - Investment trust focused on quoted small and medium-sized companies in Europe - In 2022, net asset value total return amounts to negative 28%, falling short of negative 18% from EMIX Smaller European Companies (ex UK) Index benchmark. Net asset value per share decreases 34% to 96.54 pence from 145.93p. Plans to reduce 2023 dividend by 34% to 5.80p per share from 8.80p in 2022. Dividend will be paid in four equal instalments. Company’s payout policy is for a dividend at a rate of 6% of closing net asset value. On recent developments in the banking sector, European Assets says: ‘After a strong start to the year, markets have weakened substantially following the failure of Silicon Valley Bank, other smaller regional banks in the US, and the sell-off of Credit Suisse in Europe. Although investors have been encouraged by the recent bail out of Credit Suisse by UBS and the Swiss authorities, there is clear concern over the risk of contagion to the rest of the financial system and of a renewed financial crisis. While it is too early to draw conclusions we believe that regulators and central banks have reacted quickly and with substance.’
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Botswana Diamonds PLC - Sub-Saharan Africa diamond explorer - Pretax loss in six months to December 31 widens to £330,000 from £228,000. The loss stems from administrative expenses, which increase 45% to £330,000. ‘Despite global political and economic turbulence, diamond prices have been resilient. The United States stands-out with growing diamond jewellery sales. Expected growth in Asian markets has been disrupted, but long-term trends remain positive,’ Botswana Diamonds says.
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Quadrise PLC - London-based innovator & licensor of residual oil technology, producing a synthetic heavy fuel oil called MSAR - Reports no revenue in six months ended December 31. It had posted revenue of £75,000 a year prior. Pretax loss widens to £1.7 million from £1.5 million. ‘Each of the company’s key projects in the marine, upstream and industrial sectors continue to progress with further milestones expected to be passed in Q2 and the second half of 2023,’ Quadrise says.
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Kazera Global PLC - mining-focused investment company - Pretax loss in six months to December 31 narrows to £481,000 from £601,000 a year prior. Revenue halves to £50,000 from £100,000. It reports no sales costs, however, compared to £100,000 a year earlier. ‘We remain committed to strengthening our position as a well-funded, commodity diverse, mining investment company, and developing early-stage assets towards meaningful cash flow and resource realisation,’ CEO Dennis Edmonds.
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One Media IP Group PLC - digital music rights acquirer, publisher and distributor based in Buckinghamshire - Revenue in year ended October 31 rises 16% to £5.1 million from £4.4 million. However, pretax profit declines 22% to £564,692 from £720,797. Maintains payout at 0.055 pence per share. Says outlook for music industry is ‘positive’ despite global economic and political turmoil. ‘The growing popularity of streaming services and the technological changes that are creating some incredible new opportunities for content licensing offer significant potential for rightsowners such as One Media to proactively grow their income,’ One Media says.
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