The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and Thursday and not separately reported by Alliance News:
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Amicorp FS (UK) PLC - international specialist fund services group - Says 2023 ‘was a period of positive momentum’ during which it ‘has continued to perform well both operationally and financially’. Anticipates reporting revenue of $12.8 million, up 8% from $11.9 million in 2022, with gross profit rising to $8.3 million from $8.2 million. Says it invested in future growth through automation projects and expanding sales force, causing adjusted earnings before interest, tax, depreciation and amortisation to decrease to $2.6 million from $4.2 million. CEO Chi Kin Lai says: ‘We believe that the benefits of our strategy will start to materialise in the medium term. We remain positive in the future outlook for the group and....[will] report our final results to the market in late April.’
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Aquila Services Group PLC - London-based management consultancy services provider - Says it has applied to the UK Financial Conduct Authority for cancellation of its listing on the Main Market of the London Stock Exchange. Reassures that it continues to trade well, remains financially robust and is currently debt free. Believes however that cancellation is in the best interests of it and its shareholders. Expects cancellation to take effect on March 22.
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AstraZeneca PLC - Cambridge, England-based pharmaceutical company - Announces completion of its acquisition of Gracell Biotechnologies Inc, a clinical-stage biopharmaceutical firm developing cell therapies to treat cancer and autoimmune diseases. Transaction is valued at approximately $1.2 billion, including upfront and potential contingent payments. Company says the acquisition enriches its growing pipeline of cell therapies, in particular with potential multiple myeloma treatment GCO12F. Gracell will operate as an AstraZeneca subsidiary with operations in the US and China.
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Faron Pharmaceuticals Ltd - Turku, Finland-based clinical-stage biopharmaceutical company specialising in cancer therapies - Says it continues active negotiations with IPF Fund II SCA, SICAV-FIAR, regarding events of default under the terms of their funding agreement, to get a waiver from IPF and unblock pledged bank accounts. Faron disclosed on Monday that it was in breach of several undertakings agreed in a secured debt deal with IPF. Says it is contemplating alternative short and long-term financing options. Intends to propose, at next annual general meeting, a rights issue to be launched once the required approvals are in place.
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Gulf Investment Fund PLC - Isle of Man-based investment fund focusing on Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait and Oman - Net asset value total return for the six months to December 31 is positive 7.60%, outperforming the benchmark S&P GCC Composite Index which delivered positive 3.2%. NAV per share was $2.54 at December 31, up from $2.36. Chair Anderson Whamond says war in Israel and Palestine ‘hit GCC markets in October and caused the fund’s slight premium to NAV to widen to a significant discount’, but notes ‘the traction that GCC governments are achieving with their economic diversification policies’.
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Investment Evolution Credit PLC - AQSE-listed financial services firm specialising in online consumer loans - Chief Executive Officer Paul Mathieson says company is ‘very pleased with our financial performance’ in six months to November 30. Company made initial public offering in mid-December. Reports revenue & other income of £441,261 for the period, with pretax profit of £268,062 and earnings per share of 2 pence. Cash balance at November 30 was £659,289. Mathieson says share price, 65.00p on Thursday, has tripled since IPO.
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Orosur Mining Inc - South America-focused minerals explorer and developer - Says 16.9 million new common shares have been admitted to trading on AIM at 5.02 Canadian cents, or 2.95p, each. Total number of shares in issue is now 205.5 million. Says it has also issued 16.9 million warrants, exercisable at 5.58 US cents or 7.58 Canadian cents, with an expiry date of February 21, 2026.
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Visum Technologies PLC - London-based provider of video technology for the leisure sector - Enters non-binding heads of terms to acquire entire share capital of Netherlands-based Socrates Imaging BV and UK-based Socrates Imaging Ltd. Socrates Imaging is ‘a trailblazer in photo and video capture souvenirs within the travel and leisure market’. Consideration will combine a cash payment with shares in Visum, worth a total of €2 million. Visum has exclusivity over the proposed deal until March 31. Says that ‘Socrates Imaging is set to collaborate seamlessly with Visum’s proprietary video solution, creating a powerful synergy that promises to elevate the standards of video capture and production in the industry.
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