The following is a round-up of earnings updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Wynnstay Properties PLC - Powys, Wales-based agricultural and specialist merchanting firm - Net asset value per share as of September 29 is 1,114 pence, up from 1,093p at the same time last year. Pretax profit for six months ended September 29 increases 12% to £658,000 from £587,000 the prior year. Rental income also up 12%, to £1.2 million from £1.1 million, mainly due to Wynnstay’s acquisition of the Riverdale Industrial Estate in Tonbridge, England. Property income increases 13% to £1.2 million. Earnings per share are up 7.0% to 18.4p from 17.2p. Declares 9.5p per share interim dividend, up from 9.0p. Company notes underlying concerns about economic growth, public debt, business investment and consumer spending in the UK, and says the direction of interest rates remains unclear. However, it ‘remains optimistic about [its] current outlook’.
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International Biotechnology Trust PLC - London-based biotechnology and healthcare sector-focused alternative investment fund, managed by SV Health Managers LLP - NAV at August 31 is 687.5p per share, down from 697.2p on the same day last year. Declares total dividend of 28.2p for the year ended August 31, down from 31.4p the year before. NAV total return for the year is positive 2.7%, improved from negative 6.9% last year. Beats Nasdaq Biotechnology Index at negative 1.4%, but underperforms the FTSE All-Share Index which delivered positive 5.0%. Chair Kate Cornish-Bowden says markets have seen ‘a volatile year’ but that ‘there are grounds for optimism’ as ‘the fundamentals of the sector remain very much intact: namely a growing elderly population, a rising middle class, and an increasing demand for treatments to cure disease and enhance the quality of our lives.’
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dotdigital Group PLC - London-based online marketing company - Pretax profit for year ended June 30 is £14.4 million, up 5.7% from £13.6 million the prior year. Revenue increases 10% to £69.2 million from £62.8 million. Company declares final dividend of 1.0p, up from 0.98p. Cash balance at June 30 is £52.7 million, up from £43.9 million. Administrative expenses increase 9.9% to £40.3 million, and cost of sales increases 24% to £14.4 million. dotdigital says the broader economic environment remains uncertain, but it has confidence going forward. Chief Executive Officer Milan Patel says: ‘We start the new financial year with solid global foundations, a substantially enhanced product offering and a robust financial position. We have had an encouraging start to FY24 and look forward to our continued profitable growth.’
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Induction Healthcare Group PLC - London-based software company serving healthcare providers and administrators - Narrows pretax loss for half year ended September 30 to £2.4 million from £4.5 million. Revenue decreases 15% to £6.1 million from £7.1 million. Induction says new NHS patient portal contracts compensate for decline in NHS video conferencing usage. Cost of sales decreases 37% to £1.5 million, and administrative expenses fall 59% to 1.7 million. CEO Paul Tambeau says: ‘Given the rightsizing changes we have already implemented, and the growth opportunities in front of us, we are increasingly confident about Induction’s future as a leading player in the interface between the patient and their secondary care clinical teams.’
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Scottish Oriental Smaller Companies Trust PLC - Asia focused investment trust - NAV per share as at August 31 is 1,455.6p, up from 1,382.93p at the same time one year prior. Total return for the year ended August 31 is positive 6.5%, down from positive 10%. Outperforms MSCI AC Asia ex Japan Small Cap Index which delivers positive 1.8%. Company declares 13.0p final dividend, unchanged.
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Fidelity Special Values PLC - invests in ‘underappreciated’ companies primarily listed in the UK - Reports positive 5.9% NAV total return, outperforming positive 5.2% from benchmark. Declares final dividend of 6.27p per share, up from 5.45p. Total dividend for year ended August 31 increases to 8.80p from 7.75p. Says gearing, which decreased during the year to 6.5% from 10.0%, should be allowed to rise if attractive opportunities present themselves. Company says it is cautious of near-term uncertainty, but that valuations remain attractive.
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SVM UK Emerging Fund PLC - investor in small listed companies in the UK - NAV per share at September 30 is 89.21p, down from 93.03p at March 31. Delivers negative 4.1% total return for six months ended September 30, compared with positive 0.1% from the IA UK All Companies Sector Average Index. Company expects to continue to exist in the foreseeable future, and says fund remains fully invested with minimal gearing.
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