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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Odyssean Investment Trust PLC - London-based investment trust focused on smaller companies - Net asset value per share at March 31 stands at 164.0 pence, up 18% from 139.3p at the same time the previous year. Total NAV return per share for the year ended March 31 is 17.7%. Exceeds comparator index, the NSCI & AIM index, which fell by 2.1%. The year prior the total NAV return stood at 53.4%. Company does not declare a dividend and says it does not expect to do so in the ‘near future’. Notes a number of ‘material uncertainties’ impacting investor sentiment moving forward. These uncertainties include inflation, stagflation and the prospect of a recession.
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Gusbourne PLC - Kent and West Sussex, England-based producer of sparkling wines - In 2021, revenue nearly doubles to £4.2 million from £2.1 million the previous year. Company reports ‘significant’ growth in UK Trade sales as the sector continued to recover form the effects of Covid-19. UK Trade sales surged to £1.9 million from £721,000 the year prior. Direct To Consumer sales grew to £1.4 million from £677,000. Company widens pretax loss to £3.6 million from £3.1 million in 2020. Gusbourne says net revenue is currently in line with management forecasts but notes inflationary pressures moving forward.
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Atrato Onsite Energy PLC - London-based renewable energy investment trust - Net asset value per share at March 31 stands at 97.4 pence. Company adds that since March 31, it has acquired an additional, fully operational solar photovoltaic asset with a capacity of 6.1 megawatts. From the period to March 31 from September 16, Atrato reports the value of its investments stands at £103,000. Its pretax loss for the same period totals £890,000.
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Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company - Widens pretax loss to £4.9 million in 2021 from £3.7 million the previous year. Does not report any revenue, unchanged from a year prior. Says it now has three advanced projects in two countries since the end of 2021. Total assets at December 31 stand at £29.1 million, up from £26.4 million at the same time the previous year.
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Kanabo Group PLC - Tel Aviv-based medical cannabis company - Widens pretax loss to £4.6 million in 2021 from £591,000 in 2020. Total assets multiply to £5.6 million at December 31 from £472,000 at the same time a year prior. Kanabo says it is now in a position to grow its primary care tele-medicine business. Adds it is anticipating CE accreditation for its Vapepod medical device. Chief Executive Avihu Tamir says: ‘I am therefore confident Kanabo can expect to deliver significant revenue from the sale of CBD and medicinal cannabis over the next 12 months.’
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Jadestone Energy PLC - Perth-based oil and gas development and production company with assets in Australia, Malaysia, Indonesia, Vietnam and the Philippines - Production in 2021 rises to 12,545 barrels of oil per day from 11,438 boepd the previous year, in line with expectations. Average oil price surges to $74.34 from $44.79 a year prior. Revenue climbs to a record $340.2 million from $217.9 million. Chief Executive & President Paul Blakeley says: ‘We delivered 10% production growth in 2021, exiting the year at much higher rates, and have guided to a further 36% increase in the current year. This was on the back of a successful Montara activity programme and five months of initial contribution from the Peninsular Malaysia assets acquired during the year.’ Company recommends a final dividend of 1.34 US cents per share. Looking forward, Jadestone expects production between 15,500 to 18,500 boepd.
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Majestic Corp PLC - Georgia, US-based precious metals recycler - In 2021, revenue rises to $29.7 million from $27.5 million the previous. Company says this increase was driven by improvements in market prices for materials and the strengthening of key partnerships. Underlying earnings before tax more than doubles to $853,000 from $419,000 the previous year. Majestic does not declare a dividend.
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Upland Resources Ltd - London-based oil and gas company- In the six months ended December 31, company narrows pretax loss to £269,594 from £367,687 in the period a year prior. Company does not post any revenue, unchanged from the previous year. Exploration and evaluation expenditure rises to £79,609 from nil the previous year. Total assets at December 31 stand at £480,784. At June 30, assets totalled £766,315.
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