The following is a round-up of earnings for London-listed companies, issued on Friday and Monday, and not separately reported by Alliance News:
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Capital Ltd - London-based mining company - predicts total revenue for the fourth-quarter of 2024 will be $84.9 million, up marginally from $54.1 million the year prior. Full-year revenue is estimated at $348.0 million, up 9.3% from $318.40 million in 2023, in the mid-range of guidance, which was set between $355 million and $375 million. Total capex for 2025 is projected between $45 million and $55 million, down from 2024’s guide range of $70 million to $80 million. Capital notes delays in the Nevada Gold Mines joint venture, where contract revenue is yet to cover the project’s base cost. The company says it is implementing changes to address this in the first half of 2025, and has started receiving samples from the site. Capital also notes a letter of intent from Barrick Gold Corp to expand Capital’s services at a 50% Barrick-owned mine in Pakistan. The initial contract is expected to last three years and includes two contract awards - one for early works civil & mining services and one for a longer-term storage facility.
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VietNam Holding Ltd - Guersney, UK-based investor in high-growth Vietnamese companies - Says Vietnam ended 2024 on a high note thanks to ‘the country’s resilient manufacturing sector’. Annual gross domestic product rose 7.1% in the last year, rather than the expected rise of 6.5%. The government is targeting 8.0% GDP growth in 2025, VietNam Holding says. The firm predicts domestic consumption will rise along with investor demand, and will be supported by public investment. Updated financial legislation will clamp down on fraud, the firm said, ‘setting the stage for Vietnam’s stock market to achieve emerging market status’. The company also pointed out a new law ‘allowing foreign institutional investors to purchase shares without upfront payment in specific cases, raising even more optimism for 2025’. VietNam Holding says its share price is ‘one of a few country funds’ trading at a premium to net asset value. The firm’s net asset value per share was 42.00 pence at January 17, up 13% year-on-year and its shares were up 10% at 43.00 pence each on Monday afternoon in London.
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Worsley Investors Ltd - London-based investment firm - reports that UCI Italia, a tenant of its Italian cinema complex in Curno, plans to vacate the property on January 30. This follows a dispute over terms of the lease agreement. Worsley noted in December that UCI wanted to ‘re-cast materially the terms of the cinema lease in its favour’. ‘The parties’ positions on this matter diverge entirely, with UCI asserting that it has the right to vacate the premises in January 2025, ceasing payment of the rent. Worsley’s position, as confirmed by its Italian legal advisers, is that UCI has ’no credible basis for a settlement‘. ’Shortly before Christmas, the parties reached provisional agreement on a level of rental payment under which, without prejudice to the legal dispute, UCI could in 2025 operate the multiplex on a profitable day-to-day basis. The group then proposed to UCI an arrangement, incorporating such rental terms, by which UCI could remain in situ until at least 30 September 2025. The arrangement would have delivered material benefits for both parties, Worsley said. But UCI responded by saying it ‘it was not prepared to enter such into an arrangement’ unless Worsley accepted its withdrawal from the lease without compensation. ‘The group’s directors have therefore concluded that negotiations with UCI are now at an end. The group is carefully considering all available alternatives in order to assess how best to ensure that the value of the group’s investment in the cinema is preserved,’ it says. UCI is owned by Odeon, which is itself part of AMC Entertainment Holdings Inc.
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