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The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Aquila Energy Efficiency Trust PLC - Hamburg, Germany-based energy-saving focused trust - Half-year profit in six months to June 30 at £628,000. Net asset value at June 30 at 97.90 pence versus 97.38p at December 31, 2021. Declares 1.00 pence per share interim dividend. Reiterates its expectation that its dividend target of 3.5p for 2022 will not be fully covered by earnings. Board believes firm offers attractive opportunities ‘now and in the future’, citing a pan-European ‘differentiated investment strategy’.
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Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants in UK, Sweden and Finland - Net asset value rises as solar asset installations are directly linked to retail price index, which has been steadily growing. NAV per share grows to 115.9 pence at June 30 from 103.5p at December 31, 2021. NAV total return is 14%, outshining its 6.5% to 7.5% target it posted in September 2021. Declares 2.5p interim dividend. Changed year to end with calendar year, whereas last financial year ended June 30, 2021. ‘The company sees a strong pipeline of opportunities across the core renewable energy sectors, solar, wind and hydropower, in the UK and the Nordic countries. Numerous opportunities are being progressed to expand the portfolio, both through the acquisition of new assets in new jurisdictions as well as also expanding Downing Hydro AB with further bolt-on acquisitions. The company is well placed to deploy the remainder of the capital raised in June 2022,’ Chair Hugh Little says.
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Gresham House PLC - London-based investment manager - Net asset value per share falls due to cost of living and inflation but says it has a ‘strong’ pipeline of new clients to invest in its funds. NAV at June 30 drops to 375.1 pence per share from 387.5p at December 31, 2021. Cites inflation, cost of living and interest rates which continue ‘to dominate the minds of investors, clients and staff’.
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ThinkSmart Ltd - Perth, Australia-based digital payments platform - Swings to annual loss on costly financial instruments, which were profitable a year ago. In year to June 30, turns to £94.1 million loss from a profit of £71.7 million a year ago. Posts a loss on financial instruments of £93.7 million compared to a profit of £71.3 million. Revenue drops to £3.5 million from £4.3 million.
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Trian Investors 1 Ltd - offers exposure to investment activity of Trian Investors Management LLC - Net asset value at June 30 drops to 156.44 pence from 170.42p a year ago. NAV per share of company declines by 21% versus benchmark, FTSE100 total shareholder return, declining by 1.0%. Turns to an interim loss of £152.6 million from a profit of £48.0 million. Declares no dividend, unchanged from a year ago. Looking ahead, states about Unilever PLC: ‘Underlying operating margin was on track at 17% for the first half and management increased its sales guidance for the year.’
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