The following is a round-up of earnings reports by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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abrdn Asia Focus PLC - invests in smaller, listed companies in Asia and Australasia, excluding Japan, formerly Aberdeen Standard Asia Focus - Says net asset value total return for the six months to January 31 is 0.6%, compared to its benchmark’s loss of 0.8% reported by the MSCI AC Asia ex Japan Small Cap Index. NAV per share contracts slightly to 1,548.64 pence at January 31, compared to 1554.52p at the end of July. abrdn reports communications, property, healthcare and industrials companies performed well in its portfolio during the period, but informational technology sector was hit by shift from growth to value stocks. The company will pay out two dividends of 3.2p each for the period, and expects to declare two further interim dividends for the rest of the year at 1.6p each. ‘The attractions of Asia and its smaller companies are many and obvious. Economic growth should continue to outstrip the US and Europe, while corporate balance sheets remain broadly resilient,’ says Chair Nigel Cayzer.
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Trian Investors 1 Ltd - offers exposure to investment activity of Trian Investors Management LLC - Says net asset value per share grows to 216.80p at December 31, from 150.57p a year before, as net assets grow to £547.0 million from £398.2 million. No dividend was declared for 2021. ‘[Our] underlying investment in Ferguson generated solid returns over the year, driven by growth in organic revenue and operating profit as well as management’s strong execution in a difficult operating environment,’ the company explained, referencing its primary investment, Ferguson PLC, a plumbing and heating business.
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Chelverton Growth Trust PLC - seeks income through investments in mid to small-cap UK companies - In the six months to February 28, net asset value increases to 58.02 pence from 57.62p at August 31, an increase of just under 1.0% that outperformed the decline of its benchmark, the MSCI Small Cap UK Index, which declined by 15%. Its performance since the end of February has been challenged by macro-economic factors: ‘The trading climate is very uncertain due to the invasion of Ukraine, while China continues to grapple with containing the coronavirus. The impact of these events is being closely felt all over Europe and the United States due to the globalisation of business over the past 30 years. It might well be that we see a reversal of this trend over the next period, which may well lead to price rises as the cost of securing supply chains increases. We believe that the UK economy will recover once these macro themes become factored into business thinking. The pressure on labour supply will be resolved over the medium term, via a drive towards increased productivity,’ says Chair Keith Allen.
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Fair Oaks Income Ltd - Guernsey-based closed-ended investor in collateralised loan obligations - Says net asset value total return per share for 2021 is 23%, up from a loss of 8.3% the year before. NAV per share at year-end was $0.67, up from $0.63 a year before. Declares dividend of 9.7 US cents for 2021, up 68% from 5.80 cents the year before.
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