Source - Alliance News

The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Walker Crips Group PLC - London-based stockbroker and wealth manager - Improves to pretax profit of £324,000 in year to March 31 from £114,000 loss a year before. Revenue rises to £32.8 million from £30.3 million. Assets under management end year at £3.6 billion, rising 5.9% from £3.4 billion at the same point a year prior. Total dividend for year at 1.50 pence, doubling from 0.75p a year before. ‘The rebound in the underlying trading performance this year demonstrates the group’s potential to generate revenue growth and improve profitability, which continues to bode well for the future,’ Chair Martin Wright says.

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Asia Dragon Trust PLC - Edinburgh, Scotland-based investor in Asian equity markets - Enters loan facilities with total commitment of £60 million with Royal Bank of Scotland International. Facilities consist of £25 million two-year fixed loan at 3.56% and a two-year £35 million multi-currency revolving credit facility which has been fully drawn in sterling. Notes its loan facility with Scotiabank Europe has been repaid.

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Supply@Me Capital PLC - fintech platform - Notes first official Inventory Monetisation transaction. Following agreement with VeChain Foundation, the two have designed the integration processes between their respective platforms. ‘As of today, the IM transaction is in the final stage of its completion which will involve the coordination of the formal signing process,’ it adds.

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AQRU PLC - London-based incubator for decentralised finance businesses - Sinks to pretax loss of £2.3 million in period from November 1 to April 30 versus £311,707 profit in year to October 31, 2021. Generates revenue of £553,527 in most recent period versus zero year prior. Administrative expenses rise to £2.3 million from £1.2 million. Chief Executive Philip Blows says: ‘AQRU has made good progress developing new products, building and scaling-up its operations, and investing in new opportunities at favourable valuations to support growth and establish itself as a leading player in the DeFi sector.’

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Palace Capital PLC - London-based property investment company - Says over 37% of shareholders vote against director remuneration report. Also sees over 44% vote against reelection of Richard Starr to board. ‘The company will continue to engage with its shareholders and in accordance with the provisions of the UK Corporate Governance Code. The board will provide an update on this engagement within six months of the AGM,’ it says.

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Grit Real Estate Income Group Ltd - pan-African property investment and management company - Extends long stop date for the completion of phase 2 of the acquisition of a controlling interest in Gateway Real Estate Africa Ltd to August 31 from July 31. Phase 2 will see its interest rise to 35% from 26%.

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Minoan Group PLC - Surrey-based Greek hotel investor - Pretax loss in six months to April 30 narrows to £542,000 from £788,000 loss a year before. Operating expenses falls to £264,000 from £272,000 and finance costs down to £278,000 from £516,000. Does not generate revenue in either period. Chair Christopher Egleton says: ‘As our discussions with the foundation move towards a definitive agreement, George Mergos and I look forward to updating shareholders as we progress these and the commercial discussions over the coming months.’

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Safestay PLC - London-based operator of city centre hostels across Europe - Delays publication of annual results. It explains: ‘The further delay is occasioned at the request of the company and its auditors, Nexia Smith & Williamson Audit Ltd, as additional time is required to complete the audit work for the year ended 31 December 2021 due to Covid related challenges and the impact it has had on resource availability to complete the audit.’ Confirms operational and financial performance continues to be in line with internal expectations.

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Doric Nimrod Air One Ltd - Guernsey-based investment company that leases aircraft - Delays annual results following agreement to sell only asset to Emirates in mid-July. ‘ The agreement with Emirates has necessitated changes to its audited annual financial report for the financial year ended March 31, resulting in an inevitable delay to their preparation,’ it explains. Says results will be published in next two months.

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Doric Nimrod Two One Ltd - Guernsey-based investment company that leases aircraft - Reports loss for year to March 31 of £304,511, narrowed sharply from the £17.3 million loss seen a year earlier. Income slips to £127.5 million from £130.4 million.

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Doric Nimrod Three One Ltd - Guernsey-based investment company that leases aircraft - Reports annual profit of £2.7 million in year to March 31, improved from a £14.5 million loss a year earlier. Income slips to £73.0 million from £75.7 million.

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Celtic PLC - Glasgow football club - Chair Ian Bankier elects to retire, effective January 1, 2023. Notes it will make announcements ‘regarding a successor in due course’. Director and principal shareholder Dermot Desmond says: ‘We will ensure that we work very closely with Ian over the next few months to deliver a smooth and effective transition prior to announcing his successor.’

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Semper Fortis Esports PLC - London-based professional esports team operator - Pretax loss in year to January 31 widens to £1.2 million from £626,173 loss a year prior. Generates revenue of £31,629 from zero a year before. ‘The board is aware of the current economic uncertainty and difficult capital market conditions and therefore in recent weeks the company has looked to significantly reduce its overheads and conserve cash. This has seen us withdraw from some of the new games we entered into during the year, leaving us to focus on our core Rocket League team which will take part in the World Championships in Dallas in August 2022,’ it adds.

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RTC Group PLC - London-based recruitment company - Sinks to pretax loss of £406,000 in six months to June 30 from £162,000 profit a year prior. Revenue falls to £34.4 million from £40.5 million. Notes it does not plan to pay dividend in second half, unchanged from year before. Chair Bill Douie says: ‘The first half of 2022 has been a difficult trading period. Several of our trading areas have responded well to opportunities arising from the transition from onerous pandemic conditions to an acceptance that we are able to live with continuing Covid outbreaks, bringing nearer to normal business conditions. In addition, the change of routes awarded in our new long-term Network Rail contract has brought a number of short-term but significant challenges and costs resulting in a reduced contribution from that element of our group.’

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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Agrees news $10 million financing agreement with Mercer Street Global Opportunity Fund LLC, a fund managed by Mercer Street Capital Partner. ‘This fully funds the current MGC Pharma business plan and replaces the unused amount of the convertible facility announced in September 2020, providing MGC with material financing facility to be drawn on as required to execute its strategy,’ it adds.

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Ovoca Bio PLC - Dublin-based biopharmaceutical company focused on women’s health - Completes enrollment of its Phase II study for Orenetide, a treatment for premenopausal women with hypoactive sexual desire disorder. ‘Despite a challenging global environment due to Covid-19 restrictions, the company is pleased to have successfully completed the enrolment in accordance with the previously announced timeline and schedule,’ it adds.

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SDX Energy PLC - London-based oil and gas company - Merger with Canada-headquartered Tenaz Energy Corp called off as it fails to get sufficient shareholder support. Previously, shareholder Aleph Commodities Ltd announces intention to vote against merger of Tenaz and SDX. Aleph Commodities holds 25.7% stake in SDX. In May, SDX agreed to be acquired by Tenaz Energy in a deal valuing SDX at £21.4 million. SDX shareholders will receive 0.075 of a Tenaz share for each SDX share. SDX shareholders to hold a 36% stake in Tenaz upon completion.

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Anglo African Agriculture PLC - agriculture investment company - Pretax loss in six months to April 30 narrows to £136,579 from £318,920 loss a year prior. Turnover slips to £681,761 from £788,096. Administrative expenses rises to £463,269 from £515,478. ‘The global financial recession will present some future headwinds in the short to medium term. The company and its advisors have been working tirelessly on various initiatives aimed at creating shareholder value. As at July 25 the company had £350,000 in cash, and the board believes that the Company is well positioned to take advantage of any opportunities that may arise due to the current economic turmoil,’ it adds.

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Synergia Energy Ltd - Perth-based developer of natural gas assets in India, Indonesia and the UK, formerly called Oilex Ltd - Shares restart trading on AIM after name change. Separately, notes C77H well in India is currently being cleaned up with the frac fluid being removed while gas is flowing at a rate of about 500,000 MMSCFD. ‘Approximately 10% of the frac fluid has been flowed back and we do not anticipate representative gas flow rates until the majority of the frac fluid has been removed,’ it adds. Says this could take 10 to 20 days.

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