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EARNINGS: Zinnwald makes "significant progress", KCR ups revenue

22nd Mar 2024 14:33

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


Dunedin Enterprise Investment Trust PLC - Edinburgh-based UK and overseas companies' investor - Reports net asset value total return of positive 3.6% for 2023, compared with positive 10.4% from the FTSE Small Cap (ex Inv Cos) Index and down from positive 21.7% the year before. NAV per share at December 31 was 624.8 pence, down from 627.1p at the end of 2022. Company declares no final dividend, although it previously declared an interim dividend of 10p per share in January. It had declared a 25.0p final dividend for 2022. Says GBP146.5 million has been returned to shareholders since its decision to wind down the portfolio in 2016.


Zinnwald Lithium PLC - High Wycombe, England-based, Germany-focused lithium development company - Pretax loss for 2023 is EUR2.6 million, compared with EUR2.4 million the prior year. Operating loss widens to EUR2.9 million from EUR2.4 million. Administrative expenses rise to EUR2.6 million from EUR1.9 million, reflecting a "material increase in staffing levels" as workstreams increase. Company does not expect to report profit until it commercialises the Zinnwald lithium project in Germany. Says it has achieved "significant progress" at the project with "several key milestones on the horizon", such as ongoing metallurgical testwork and detailed mine planning.


KCR Residential REIT PLC - Surrey, England-based residential-focused real estate investment trust - Pretax loss for six months to June 30 is GBP291,088, narrowed from GBP451,323 the previous year. Revenue rises to GBP946,004 from GBP788,740, "driven by the work completed over recent years to modernise and improve the standard of the property portfolio". Administrative expenses decrease to GBP668,350 from GBP702,371. Says work to improve portfolio is reflected in improved rental income, which along with cost control "continues to take KCR towards its short term goal of achieving a cash neutral position".


By Emma Curzon, Alliance News reporter

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