Archived article
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 Thursday and not separately reported by Alliance News:
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Panther Securities PLC - London-based property investor - Pretax profit in 2022 rises to £22.9 million from £15.9 million in 2021. Revenue ticks up to £13.4 million from £13.2 million, while fair value gain on derivative financial liabilities rises to £19.7 million from £16.8 million. Maintains 12 pence dividend per share, unchanged from a year earlier. Says: ‘We are experiencing rental growth, some of this being from renting long-term vacant properties and the rest from improved rental terms. Going forward over the next couple of years we foresee the biggest issue being controlling the holding and maintenance costs of our properties. In response to this, we are bringing in further controls and phasing our work programmes [...] We believe there are still many opportunities to unlock value within our portfolio, both in terms of letting more of the vacant properties, through repurposing and some from planning schemes to rebuild.’
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Petrofac Ltd - London-headquartered company which designs, builds, manages and maintains energy infrastructure and has its core markets in the Middle East and North Africa region - Earnings before interest and tax, depreciation and amortisation loss for 2022 is $138 million from $86 million in 2021. Revenue drops to $2.59 billion from $3.04 billion. Says 2022 performance ‘severely’ impacted by legacy E&C portfolio. E&C revenue falls to $1.3 billion from $2.0 billion, while Ebit loss widens to $299 million from $62 million. Chief Executive Officer Tareq Kawash says: ‘We are working resolutely to put these challenges behind us, and to rebuild our backlog - such as the recent multi-year, multi-platform framework agreement in support of TenneT‘