The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
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One Media IP Group PLC - active monetisation of music and video intellectual property rights - Pretax profit is £289,508 in the financial year that ended October 31, down from £564,692 the year before. Revenue rises slightly to £5.4 million from £5.1 million, but administrative expenses rise by about the same amount. Says results are in line with expectations. IFRS net asset value on October 31 is 7 pence per share, unchanged on year. Declares 0.055p final dividend.
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Gresham House Energy Storage Fund PLC - invests in utility-scale battery energy storage assets - NAV per share is 129.07p on December 31, down 17% from 155.51p a year before, as earnings on underlying portfolio decline by 47% amid lower revenue rates. However it says these have picked up again in 2024, rising in March and April and continued weakness in January and February. Pays 5.51p per share dividend for 2023 but expects to pay none for 2024, as previously guided. ‘From 2025 onwards, the company aims to deliver an attractive dividend from distributable cash-flow after debt covenant testing,’ it says. Chair John Leggate comments: ‘Encouragingly, we have since seen a marked recovery on the back of improving market fundamentals in recent weeks, and the continued rapid deployment of new renewable generation, particularly offshore wind, drives a commensurate increase in demand for battery energy storage. In brief, the long-term commercial attractions of [battery energy storage systems] remain as true as ever.’
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Ecofin US Renewables Infrastructure Trust PLC - invests in renewable energy and sustainable infrastructure assets located in US - NAV per share on December 31 is 85.2 US cents, resulting in an NAV total return for 2023 of negative 5.5%. Declares 3.5 cents per share in dividends with respect to 2023. Total NAV is $117.7 million. Shares trade at a 34% discount to NAV as of December 31. Trust says it considered a share buyback to close the gap, but it didn’t believe this would have a material impact on the discount. Also discussed a merger with another investment trust, but this didn’t result in a proposal that was in the best interest of shareholders. As a result, back in September, the trust announced it will sell assets, return cash to shareholders, and wind up the company. This has taken longer than expected, it says, but specific negotiations are now taking place.
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Schroder Income Growth Fund PLC - aims to achieve income growth in excess of inflation and capital growth - NAV total return in half year that ended February 29 is 1.9%, down from 4.2% a year before and short of the 3.9% return of the FTSE All-Share index. Says underperformance is due to stock selection within consumer discretionary, industrials and basic materials, though stock selection within consumer staples is positive. NAV per share on February 29 is 290.20p, down from 317.28p a year before. Declares 2.50p interim dividend, unchanged on year.
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