The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Invesco Asia Trust PLC - Oxfordshire, England-based and Asia-focused investor - Net asset value per share as of October 31 is 344.89 pence, down 5.9% from 366.48p at April 30. NAV total return for the six months to October 31 is negative 5.9% while benchmark MSCI AC Asia ex Japan Index delivers negative 2.9%. Says China’s recovery is being hampered by bad debts and property oversupply, and notes high US interest rates adding pressure to Asian currencies. Expects depressed economic activity even if recession is avoided. Says it is surprised that favourable tailwinds haven’t yet appeared, but still claims a rapprochement between China and the US is possible. Company already paid in November a 7.20p per share first interim dividend.
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Ace Liberty & Stone - London-based property investment company - Rental income for half year to October 31 is £2.7 million, up 0.6% from the year before. Swings to £4,686 pretax loss, versus the prior year’s £731,383 profit. Administrative costs fall 19% to £699,032 from £867,144. Portfolio ‘remains strong’ with 96% occupancy, and company has cash balance of £3.0 million as at October 31, down from £6.6 million on the same day in 2022. Expects continued uncertainty due to ongoing wars in Europe and Middle East. However, Chief Executive Officer Ismail Ghandour says: ‘With a robust balance sheet and significant cash resources, Ace is in a strong position to weather the storm and take advantage of future opportunities as they arise.’
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AEW UK REIT PLC - London-based real estate investment trust - Declares 2.00p interim dividend for the quarter that ended on December 31, in line with its 8.00p full-year target. NAV per share at December 31 is 103.53p, down from 106.00p on September 30. Reports total return of negative 0.44% for the period, following positive 0.91% in the prior quarter. EPRA earnings per share for the quarter total 1.83p, down from 1.84p the previous quarter. Says earnings were hurt by two of its tenants going into administration, including Wilko which occupied one of its properties in Bristol. Adds however that upcoming lease events should enhance earnings going forward.
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Time Finance PLC - Bath, England-based finance provider to small and medium businesses - Own-book lending origination for six months to November 30 is £47.3 million, up 29% from £36.6 million the previous year. Gross lending-book rises 24% to ‘record’ £188.6 million from £152.7 million. Revenue jumps 19% to £15.7 million from £13.2 million. Pretax profit surges 35% to £2.7 million from £2.0 million. Earnings per share total 2.33p, up 35% from 1.73p. Company says continued positive trading momentum throughout December has given ‘significant confidence’ that full-year trading will be ‘at least in line’ with its expectations. Non-Executive Chair Tanya Raynes says Time Finance ‘is well positioned to deliver further growth and increased value to our shareholders. We look forward to being able to report on further progress at the year-end.’
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CC Japan Income & Growth Trust PLC - investor specialising in equities listed or quoted in Japan - NAV per share at October 31 is 174.5p, up from 151.1p at the same time one year prior. NAV cum-income total return per share for the year to October 31 is positive 18.9%, compared with negative 5.9% the year before. Tokyo Stock Exchange Price Index delivers positive 12.0% after prior year’s negative 9.5%. Dividends for the year total 5.30p per share, up from 4.90p. Says this is its eighth year of dividend increases. Chair Harry Wells says Japanese equities remain undervalued despite ‘decent returns over the last decade’. Adds: ‘Our mandate is well placed to continue to provide solid total returns and the board has every confidence in [CC’s investment managers] to keep producing them.’
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LPA Group PLC - Essex-based LED lighting and electro-mechanical systems maker - Revenue for 12 months to September 30 increases to £21.7 million from £19.3 million the year before. Pretax profit however declines to £759,000 from £1.1 million. Resumes final dividend with 1p per share payout, and has ‘reasonable expectations’ for dividend growth in future years.
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Spiritus Mundi PLC - special purpose acquisition vehicle focused on the clinical diagnostics sector in Europe and Asia - Pretax loss for year that ended on September 30 reduces to £537,979 from £714,253 for the period from April 28, 2021, to September 30, 2022. Company generates no revenue. Administrative costs fall to £537,979 from £714,253. Says it is currently focused on progressing discussions with one potential suitable acquisition target, and will update shareholders ‘at the appropriate time’. Net cash at September 30 is £498,626, down from £941,539 at the same time one year prior.
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