TRADING UPDATES: Interim profit rise for Harworth, Property Franchise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on ...

Alliance News 13 September, 2022 | 3:38PM
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Harworth Group PLC - Rotherham, South Yorkshire-based land regenerator - For the first half of 2022, pretax profit rises 29% to GBP98.8 million from GBP76.5 million a year before, driven by an increase in the fair value of investment properties to GBP85.3 million from GBP66.5 million, as well as sharp revenue growth to GBP62.6 million from GBP18.8 million through an acceleration in serviced land sales. As at June 30, net asset value per share is 203.1 pence, up 21% from 167.8p the same date a year prior, while the portfolio value increased 16% to GBP888.7 million from GBP765.7 million at the end of December. Declares interim dividend of 0.404 pence per share, up from 0.367p a year before.

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abrdn Smaller Cos Income Trust PLC - invests in UK small-cap stocks - For the six months ended June 30, posts net asset value total return of minus 30%, compared to the Numis Smaller Cos ex Investment Trust Index, which made a negative return of 20%. As at June 30, net asset value per share was down 31% at 306.10 pence from 442.52p at the end of December.

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Property Franchise Group PLC - UK-based lettings and estate agency franchising firm - For the first half ended June 30, pretax profit rises 8.6% to GBP3.8 million from GBP3.5 million the same period a year prior, on revenue which grows 18% year-on-year to GBP13.1 million from GBP11.1 million, as a result of higher managed service fees and increased sales activity. Raises interim dividend by 11% to 4.2 pence per share from 3.8p a year prior. Looking ahead, company is encouraged by trading levels in July and August, lifting confidence in meeting market expectations for 2022 as a whole.

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PYX Resources Ltd - Sydney-based zircon producer - For the first half of 2022, pretax loss widens to USD3.6 million from USD1.4 million a year before, as a result of ballooning administrative and distribution costs, which more than offset revenue more than doubling to USD10.6 million from USD4.7 million. Revenue growth was fostered by an increase in zircon, rutile and ilmenite production, as well as an increase in prices. Looking ahead, company believes it is well positioned to enter a period of sustained growth.

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VH Global Sustainable Energy Opportunities PLC - London-based sustainable energy infrastructure assets investor - As at June 30, net asset value per share increases 8.8% to 113.1 pence from 104.0p at the end of December, due to a resilient portfolio performance, with limited effect from the pandemic and the invasion of Ukraine.

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Honeycomb Investment Trust PLC - asset secured loans investor - As at June 30, net asset value per share rises to 1,019.7 pence from 1,017.0p the same date a year prior, while for the six month period, it reports a total return of 8.0%.

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Mothercare PLC - Hemel Hempstead, England-based retailer to parents and young children - For the year ended March 26, swings to pretax profit of GBP11.1 million from a loss of GBP21.4 million the year before, in spite of revenue declining 3.8% to GBP82.5 million from GBP85.8 million. In addition, worldwide retail sales grew 7.5% to GBP385.3 million from GBP358.6 million. Looking ahead, in the first 21 weeks of its 2023 financial year, Mothercare reports total retail sales of GBP135 million, compared to GBP150 million a year prior, however excluding operations in Russia, the figure for the year before stands at GBP117 million.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
abrdn Smaller Companies Inc Ord 238.00 620
Honeycomb Investment Trust 544.00 GBX -1.45 -
VH Glob Sustainable Energy Opp Ord 74.80 GBX 1.08 -
The Property Franchise Group PLC 349.90 GBX -0.03 -
Harworth Group PLC 131.20 GBX 1.31 -
Mothercare PLC 7.30 GBX -3.63 -
PYX Resources Ltd 14.85 GBX 4.21 -
PYX Resources Ltd 0.51 -

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