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TRADING UPDATES: Value & Indexed NAV falls; Rogue Baron narrows loss

26th Jun 2023 21:15

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


Value & Indexed Property Income Trust PLC - investor in UK commercial property - Net asset value per share at March 31 year-end weakens 21% to 246.88 pence from 314.30p 12 months earlier. "The property sector was particularly affected by the economic and geopolitical turmoil over the year - the rise in inflation and interest rates, the political chaos of the short-lived Truss administration, and the multiple consequences of the war in Ukraine," company says. Final dividend unchanged at 3.60p per share, though total dividend for financial year lifted by 2.4% to 12.9p from 12.6p.


Rogue Baron PLC - Washington, DC-based distiller - Revenue in half year to March 31 jumps to USD164,000 from USD66,000 a year prior. Pretax loss narrows to USD264,000 from USD361,000. "Following the successful completion of transitioning to our new USA distributor in September 2022, the company resumed full-scale sales operations in October. During the fourth quarter of 2022, Rogue Baron sold around 930 cases of Shinju whisky worldwide, marking an impressive growth of approximately 100% compared to the corresponding period in 2021," Rogue Baron says. First quarter of 2023 began slowly, firm says. "Sales of Shinju whisky decreased during the first quarter of 2023 as Q1 tends to be the slowest quarter in the spirits industry. This seasonal trend is not unique to our brand but is rather a characteristic of the industry as a whole. During this period, consumers typically reduce their spending after the holiday season, focusing on other priorities and expenditures. A reduction in consumer spending plays a significant role in how our customers and distributors plan their buying cycles. While this slowdown may impact our short-term sales figures, we project an increase in sales as we move further into the spring and summer months," firm adds.


Evrima PLC - mining and exploration investor - Swings to pretax loss of GBP409,908 in 2022, from profit of GBP1.1 million in 2021. Posts GBP253,032 hit from revaluation of assets, swinging from gain of GBP1.3 million the year prior. Evrima adds: "2022 proved to be a very challenging year for global financial markets with a visceral transition of capital leaving equity markets with global themes being focused on central banks tightening monetary policy and combatting rampant inflation with accelerated base rate increases at a pace not seen for some time. This shift in attitude and repricing of risk resulted in risk off investing returning after a strong and sustained period for equity markets.

For Evrima, this economic backdrop tends to favour commodities, this theme further supported through the performance of the S&P GSCI a benchmark for commodities which rose 26% to the year ending 2022 whilst the S&P 500 delivered a negative return of -18.01%." Says 2022 was a "breakthrough" year for company, despite "challenges" it posed.


Octopus Titan VCT PLC - venture capital trust - Plans new offer for subscription later this year, with details to be released "in due course".


By Eric Cunha, Alliance News news editor

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