Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

EARNINGS SUMMARY: S&U, United Oil & Gas profit up; Worldsec sees loss

27th Sep 2022 20:25

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

----------

S&U PLC - motor finance & bridging lender - Records a pretax profit of GBP21.0 million in the six months to July 31 from GBP19.9 million a year before. Revenue rises to GBP49.4 million from GBP42.8 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.

----------

United Oil & Gas PLC - oil and gas company operating in Egypt, Italy and UK - Records a pretax profit of USD5.7 million in the first half of 2022, up from USD2.0 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 USD9.8 million from USD10.2 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.

----------

Worldsec Ltd - South East Asia-focused investment company - For the six months ended June 30, swings to a pretax loss of USD526,000 from a profit of USD7,000 a year ago. Revenue grows to USD59,000 from USD50,000. Other income falls to loss of USD278,000 from a profit of USD242,000. Attributes this to strong demand for the ET7 model "and notwithstanding the supply chain challenges."

----------

Mycelx Technologies Corp - Georgia, US-based clean water and air technology - Pretax profit in the first half of 2022 more than triples to USD2.7 million from USD599,000 a year before. Loss on disposal of property and equipment narrows to USD2,000 from USD2.5 million. Revenue falls to USD3.7 million from USD4.2 million. Blames this on a decrease in equipment sales. Plans to focus on furthering its existing and potential new client relationships.

----------

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 GBP227,406 from GBP291,874, 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.

----------

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.

----------

By Abby Amoakuh; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

FTSE 100 Latest
Value8,146.86
Change-16.81