The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Palace Capital PLC - London-based property investor - In year ended March 31, pretax loss narrowed to £9.3 million from £35.8 million, as revenue fell 41% to £19.6 million from £33.0 million year-on-year. 3.75 pence per share final dividend declared, bringing total dividend to 15.00p, unchanged from previous year. Loss on revaluations reported to be £15.4 million, although progress made with debt reduction strategy and disposals throughout the period. Asset prices to remain suppressed until interest rates fall and investor confidence returns, says Chair Steven Owen.
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Versarien PLC - Gloucestershire-based engineering materials group operating nine subsidiaries - In the six months ended March 31, pretax loss narrowed to £1.8 million from £3.4 million the year prior. Revenue falls 4.6% to £2.5 million from £2.6 million. Management shifting focus to core graphene business and expects losses to continue falling, aided by growing interest in licensing opportunities.
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EnergyPathways PLC - West Sussex-based energy transition company - In 2023, pretax loss widened to £1.9 million from £1.3 million the year before. Reverse acquisition expense £1.0 million incurred during the year, meanwhile operating loss narrows to £631,424 from £1.0 million. Total assets increase to £3.1 million from £548,332. Management says 2023 was a transformative period and the company is poised for growth as it expands portfolio of production and storage licences with an emphasis on sustainable development.
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Downing Strategic Micro-Cap Investment Trust PLC - London-based investor focused on small and undervalued companies - Net asset value per share 65.71 pence each at February 29, down 16% year-on-year against FTSE AIM Index Total Return which fell by 13%. Chair Hugh Aldous says: ‘Since the shareholders voted for a managed wind-down of the trust, the managers have executed the strategy of exiting the investments exceedingly efficiently, extracting the maximum return for investors.’
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RentGuarantor Holdings PLC - London-based rent guarantee service in UK private rental sector - In 2023, pretax loss widens to £1.2 million from £910,778 the year prior. Total revenue increased 79% to £741,028 from £414,078, as admin expenses rise 17% to £1.4 million from £1.2 million. Management says the geopolitical environment was difficult to anticipate and expects interest rates to remain high.
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Seraphim Space Investment Trust PLC - World’s first space technology investment trust based in London - In third quarter ended March 31, net asset value up 0.8% to 95.37 pence per share from 94.57p year-on-year. Portfolio valuation increased 1.4% to £200.8 million from £198.0 million, driven by a £1.9 million fair value gain and a small foreign exchange gain. Chair Will Whitehorn says: ‘we are satisfied that SSIT continues to have the cash reserves required to meet the anticipated funding needs of the portfolio for the year ahead and beyond.’
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