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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AEW UK REIT PLC - UK regional commercial property-focused real estate investment trust - Net asset value per share as at June 30 rises 1.5% to 107.03 pence from 105.48p as at March 31, but is 15% lower than 126.50p a year ago. NAV total return for first financial quarter is 3.4%, picking up from 2.4% in the previous quarter but down from 6.5% a year ago. Quarterly dividend is flat annually at 2.00p per share.
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Ground Rents Income Fund PLC - London-based investor in long-term, income-generating assets across the UK - Net asset value as at March 31 rises to 94.3 pence per share from 93.6p a year prior. NAV total return for half-year to March 31 improves to 3.3, from the negative 7.7% registered a year prior. Chair Barry Gilbertson says: ‘The significant activity carried out by the board and Schroders over the past several years means there is a clear strategy to address the complex headwinds relating to building safety and leasehold reform, and thereby to optimise value for shareholders, whilst demonstrating best-in-class residential asset management. We will continue to provide a high level of transparency on progress implementing our strategy.’
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Inland Homes PLC - South England-focused brownfield developer, housebuilder and partnership housing company - Hails legal completion of first phase of homes offered for private sale at its joint-venture Cheshunt Lakeside in Hertfordshire. Further, joint-venture exchanges 15-year lease for 350 square metre commercial space within the phase with Tesco PLC. Inland Homes Interim Chief Executive Officer Nish Malde says: ‘We are delighted that our joint venture interest has completed the sale of the first 22 homes offered for private sale within this development and exchanged a commercial lease with a national supermarket chain.’
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Iofina PLC - London-based iodine producer - Produces 241.5 metric tonnes of crystalline iodine from its five IOsorb plants in north-west Oklahoma, within its own projected range of 235 to 250 metric tonnes for the period. It is an increase of 7.5 metric tonnes from a year ago. Further, says iodine spot prices have remained steady near $70 per kilogramme throughout the half-year, unchanged from a year ago and up from $50 at the start of 2022. Looking ahead, CEO Tom Becker says: ‘We are on course to deliver a considerable uplift in second-half production. Importantly, demand for our products remains high and we are benefiting from the iodine spot price maintaining its $70/kg level.’
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Metals Exploration PLC - Philippines-focused gold producer - Reports record half-year and quarterly gold sales. In the first half, sells 46,186 ounces at an average price of $1,939 per ounce, up from 30,676 ounces at an average of $1,878 a year before. Consequently, first-half revenue rises year-on-year to $89.6 million from $57.6 million. Says operations have exceeded expectations, and raises full-year output guidance to 78,000 to 81,000 ounces of gold, compared to the previous guidance range of 68,000 to 72,000. Also trims all-in sustaining cost guidance slightly. CEO Darren Bowden says: ‘The company‘s cash flows remain strong, and we continue to make substantial debt repayments, whilst also looking to finalise the mezzanine debt position as soon as is practicable.’
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MP Evans Group PLC - Kent, England based Indonesia-focused company which produces crude palm oil through sustainable methods - Crude palm oil production in the first six months of 2023 grows 3.4% annually to 166,200 tonnes from 160,800 tonnes a year prior. Average crude palm oil price at mill gate at the end of June declines 27% to $755 per tonne from $1,035 a year ago. Palm kernel output declines 1.4% to 34,600 tonnes from 35,100 tonnes. Production of own crop of fresh fruit bunches falls 5.2% to 408,100 tonnes from 430,400 tonnes, citing seasonality, while independent crops purchased increase 26% to 188,100 tonnes from 148,900 tonnes. Looking ahead, the company expects higher cropping yields in the second half of the year.
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Trinity Exploration & Production PLC - exploration and production company focused on Trinidad and Tobago - Oil production in second quarter of 2023 declines 6.5% annually to an average of 2,824 barrels of oil per day from 3,019 bopd a year prior. Average realised oil price falls 34% to $63.7 per barrel from $96.8 a year ago, and 6.2% from $67.9 in the first quarter. Output sales guidance for 2023 unchanged at 2,800 to 3,100 bopd, compared to 2,975 bopd in 2022.
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