22nd May 2025 22:42
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Block Energy PLC - Georgia-focused oil and gas company - pretax loss narrows to USD609,000 in the year to December 31 from USD2.2 million a year prior, despite revenue falling 11% to USD7.5 million from USD8.4 million. Bottom line benefits from absence of impairments compared to USD2.2 million hit a year ago. Total group production is 131,579 barrels of crude oil down from 151,184 barrels in 2023. "The focus of 2024 was on advancing the company's high-impact projects, which each saw solid progress. These projects are in-line with the company's strategy to focus on those opportunities which offer the greatest overall value potential for shareholders, with each of these offering transformative potential. With the advances made in 2024, the company is at an inflection point, with several material catalysts possibly coming to fruition over the coming year," says Chief Executive Officer Paul Haywood.
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Logistics Development Group PLC - London-based investment company - swings to pretax profit of GBP19.8 million in the 13 months to December 31 from a loss of GBP10.1 million in the year to November 2023. This reflects a GBP19.3 million gain on investments compared to a GBP10.9 charge a year ago. No dividend is declared, unchanged year-on-year.
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STS Global Income & Growth Trust - UK-based investment trust which invests in a portfolio of global equities - net asset value per share rises 8.7% to 243.10 pence in the year to March 31 from 223.71p a year prior. Total net return per share is 23.42p, more than doubled from 11.0p a year ago. Announces a fourth quarterly dividend of 3.61p and a total dividend of 8.37p, up 28% year-on-year. It is intended that the first quarterly dividend for the 2026 year will be at least 2.00p. Says the company delivers a total return of 11% over the year, comfortably ahead of the Lipper Global - Equity Global Income Index, which returned 4.5%. "This strong relative performance reflects the impact of the portfolio's positioning as market drivers began to broaden beyond the narrow group of large US technology stocks that led returns in prior years," STS says. Notes the portfolio has been relatively well placed against the recent market background.
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Capricorn Energy PLC - Egypt-focused oil and gas explorer - says year to date, production from Western Desert assets is tracking slightly above the mid-point of annual guidance for 2025 of 17,000 to 21,000 barrels of oil equivalent per day. Notes parliamentary ratification is on track to take place later this year, at which point the company will provide updated guidance on its ongoing work programme with the potential for incremental development drilling. "We do not anticipate that any incremental activity will have a material impact on the current year production forecast," Capricorn adds. Further, notes its Egyptian business continues to deliver an improved operational performance. Capricorn says a "robust balance sheet underpins our production, development and exploration activity with a current net cash position of USD34 million." Outside Egypt, the company continues to prioritise diversifying and expanding operations and is evaluating a number of "value" opportunities, including strategic investments and partnerships in the UK North Sea and MENA.
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Water Intelligence PLC - London-based provider of water infrastructure technology solutions - Says revenue increases by 4% to USD21.3 million in the first quarter and earnings before interest, taxes depreciation amortisation rise by 8.3% to USD3.8 million. Notes the second quarter has begun strongly with April delivering 20% revenue growth. Therefore, year-over-year through April, revenue increases by 8% to USD29.1 million and Ebitda by 13% to USD4.8 million. Through April 30, Ebitda margins moved upward to 16.3% from 15.6% despite volatility in the market given US economic policies. As of April 30, says the balance sheet remains strong with USD7.4 million in cash and net total debt to Ebitda adjusted ratio of 1.50 times. As previously communicated, Water Intelligence says it is continuing to explore options for opening a US listing.
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Serica Energy PLC - North Sea-focused oil and gas producer - reports production of 26,500 boepd in the first four months of 2025. Says cash at April 30 is USD129 down from USD148 million at the end of December due to the lack of production from Triton since January, a USD10 million payment made on completion of the acquisition of Parkmead (E&P) Ltd and capital expenditure predominantly on the Triton well programme of USD80 million. Net debt of USD102 million as at April 30 compares to USD83 million at the end of 2024. Chief Executive Chris Cox says: "Maintenance work at Triton remains on track to restart production around the end of June, with the addition of new wells from the Guillemot North West and Evelyn fields providing the potential for production from the Triton Hub alone to surpass the 25,000 boepd net to Serica delivered earlier in the year. This should support significant cash generation in the second half of the year and beyond." He adds: "The drilling performance and subsurface results of those new wells have been outstanding, and the BE01 well on Belinda was also completed ahead of time and under budget." Reiterates full-year production guidance of 33,000 to 37,000 boepd and capital expenditure and opex of USD220 to USD250 million and USD330 million respectively.
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TruFin PLC - London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance and mobile games publishing - starts its GBP4 million share buyback programme, announced on Tuesday. "The share buyback programme is being initiated due to the board's belief that the company's shares trade at a discount to an internally calculated intrinsic value, in order to further enhance shareholder returns and to reduce the company's share capital," Trufin says. Panmure Liberum will run the buyback.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Block Energy P.Logistics DevSts Global IncCapricorn Energy PLCWater Intel.Serica EnergyTrufin Plc