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The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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S&U PLC - motor finance & bridging lender - Records a pretax profit of £21.0 million in the six months to July 31 from £19.9 million a year before. Revenue rises to £49.4 million from £42.8 million. Says both of its businesses performed well. Lifts its interim dividend to 35 pence from 33p. Says trading is currently ‘very encouraging’ and believes in a good long-term outlook.
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United Oil & Gas PLC - oil and gas company operating in Egypt, Italy and UK - Records a pretax profit of $5.7 million in the first half of 2022, up from $2.0 million a year before. Can be put down to other income of 3.4 million, due to a tax paid by EGPC on its behalf. Revenue falls to $9.8 million from $10.2 million. Narrows full-year working interest production guidance to 1,450 to 1,500 barrels of oil equivalent per day, due to rescheduling of its drilling programme.
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Worldsec Ltd - South East Asia-focused investment company - For the six months ended June 30, swings to a pretax loss of $526,000 from a profit of $7,000 a year ago. Revenue grows to $59,000 from $50,000. Other income falls to loss of $278,000 from a profit of $242,000. Attributes this to strong demand for the ET7 model ‘and notwithstanding the supply chain challenges.’
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Mycelx Technologies Corp - Georgia, US-based clean water and air technology - Pretax profit in the first half of 2022 more than triples to $2.7 million from $599,000 a year before. Loss on disposal of property and equipment narrows to $2,000 from $2.5 million. Revenue falls to $3.7 million from $4.2 million. Blames this on a decrease in equipment sales. Plans to focus on furthering its existing and potential new client relationships.
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Tiger Royalties & Investments PLC - London-based mining investor - Net asset value per share as at June 30 fall to 0.12p from 0.29p a year before. Swings to a pretax loss of £227,406 from £291,874, as ‘ commodity prices are slipping and the major mining companies are warning that there may be hard times ahead.’ Warns of ‘gloomy’ short-term outlook, but remains optimistic.
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Marwyn Value Investors Ltd - investment company managed by Marwyn Asset Management Ltd - Records a total NAV return of negative 4.5% in the six months to June 30, outperforming the FTSE-All Share Index, which returned negative 4.6%. Attributes this to a ‘challenging backdrop.’ ‘The coming period is without doubt going to be volatile and challenging but we are ideally positioned with material investible capital, a portfolio of exceptional Management Partners and a pipeline of similarly capable prospective ones,’ company says in its outlook.
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