(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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CT Global Managed Portfolio - Investor in investment companies offering Growth or Income shares - Reports net asset value at November 30 for Income shares was 109.07 pence compared to 122.52p the year before. For Growth shares NAV was 228.97p, down from 235.42p. Says NAV total return was negative 2.9% for the Income shares and negative 0.5% for the Growth shares. Return before tax totalled GBP3.9 million, swinging from a loss of GBP14.6 million.
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Cindrigo Holdings Ltd - Guernsey-based renewable energy company - Updates on Slatina 3 geothermal project in Croatia. Completes first phase of drilling plan including all civil works and well pad construction on site. Gives notice to mobilise the contracted drilling rig to commence the drilling of the 4,000 metres deep level well during February. Receives bridging finance of EUR 3.3 million from its largest shareholder Danir AB to secure the progress of the project.
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Real Estate Investors PLC - Birmingham-based investment trust with a portfolio of commercial property - In a trading update to December 31, reports occupancy levels at 83%, slightly down from around 85% a year ago. Contracted rental income totals GBP10.9 million in 2023, down from GBP12.6 million in 2022. Major letting contracted to complete in April 2024 which will improve existing occupancy to around 86% and boost contracted rental income to GBP11.2 million. Highlights robust rent collection levels with overall rent collection for 2023 of 99.82%. Given the ongoing substantial discount between the share price and NAV, Board concludes that it will conduct an orderly strategic sale of the portfolio over the next 3 years with the objective of maximising the return of capital to shareholders. Assets will be sold individually, as smaller portfolios or as a whole portfolio sale, with the initial priority to repay the debt.
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Nostrum Oil & Gas PLC - Kazakhstan-focused oil and gas development, production and exploration company - Provides operational update to December 31. Expects full year revenue, in line with expectations, to be in excess of USD118 million in 2023, down from USD199.7 million in 2022, reflecting anticipated declining production and relatively lower average product prices. Forecasts Chinarevskoye field average daily production for 2024 in the range of 7,000-8,000 boepd.
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Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Reports total return in the quarter to December 31 of 1.6%, an uplift of GBP4.6 million or 7.7 pence per share. This takes net asset value per share to 500.4p, up from 492.8p at the end of the third quarter. BOOK and the majority of portfolio companies continue to perform well, despite more challenging UK macroeconomic conditions in the second half of 2023. Focus remains on long-term value creation, rather than short-term targets. Cash inflows in the fourth quarter were GBP22.2 million, the highest of any quarter in Literacy's history.
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HealthBeacon PLC - Dublin-based devices and software developer for managing critical and chronic medications - Updates on the examinership process the company is currently going through. Says the Examiner held meetings of all members and creditors on January 24 for the purpose of considering and voting on a Scheme of Arrangement to allow the company survive as a going concern. All 5 classes of creditors voted to approve the scheme. The meeting of the members voted to reject the proposals, although a majority in number but not value voted for the scheme. It is expected that the High Court hearing to sanction the scheme will be held by the end of next week.
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By Jeremy Cutler, Alliance News reporter
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