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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European Opportunities Trust PLC - FTSE 250-listed investor in European companies offering capital growth - Says net asset value per share at November 30 was 910.8 pence, up 3.9% from 876.5p at May 31. Reports NAV total return of positive 4.3% for half year ended on November 30, ‘modestly’ outperforming the MSCI Europe Index which returned positive 3.5%. Says its outlook is shaped against a more difficult backdrop, with anticipated interest rate reductions coming up against ‘signs of weaker consumer spending’, ‘growing threats to efficient global trade flows’ and ‘risk of higher energy costs’. Company however emphasises ‘the superior characteristics and earnings growth of the underlying portfolio’. Investment manager also ‘anticipates that the earnings growth of the portfolio in 2024 will be superior to that of the benchmark, providing a solid foundation for continued relative outperformance’.
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JPMorgan Global Growth & Income PLC - London-based, FTSE 250-listed investment trust - NAV at December 31 was 494.9p, up from 426.7p at the end of calendar 2022. NAV total return for the six months to December 31 is positive 9.2%, ‘comfortably ahead of’ the MSCI AC World Index’s positive 7.0%. Firm notes that global stocks ‘ended the year on an upbeat note’ with inflation pressures subsiding, hope for interest rate cuts and excitement over artificial intelligence. Company has declared a third interim dividend of 4.61p per share for the year to June 30. Notes that as announced in the annual report, Chair Tristan Hillgarth will step down from the board at the 2024 annual general meeting. Director James McPherson will succeed him. Company says it remains cautious about the near-term equity market outlook, with ‘even broader concerns’ raised by the US presidential election this November.
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Dalata Hotel Group PLC - Dublin-based hotel operator - Says pretax profit for 2023 decreased 4% to €105.5 million from €109.7 million. Revenue however has surged 18% to €607.7 million from €515.7 million. Adjusted earnings before interest, tax, depreciation and amortisation rise 22% to €223.1 million from €183.4 million. Revenue per available room is up 12% to €114.67 from €102.23, with the average room rate rising 6% to €143.36 from €134.80. Company declares final dividend of 8.0 euro cents per share, its first since withdrawing the 2019 final dividend in early 2020 amid the Covid-19 pandemic. Administrative expenses jumped 30% to €238.5 million, while cost of sales rose 17% to €214.5 million and finance costs rose 10% to €50.6 million. Company says it is optimistic in the trading outlook for this year, with demand indicators supportive across its markets and event calendars looking strong. Adds that it is confident it will be able to continue weathering any inflationary pressures.
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