GVC Holdings (GVC); JV with MGM Resorts in US
Stock up 5.39% to 1,153.97p at 8:15
GVC announced the establishment of a 50/50 joint venture (JV) with MGM Resorts International (MGM Resorts) to create a sports betting and online gaming platform in the US. This comes on the back of opportunities created by the recent US Supreme Court decision overturning the US federal Professional and Amateur Sports Protection Act (PASPA).
Read more...XP Power (XPP); H1 2018 results: profit after tax increases 31.3%
Stock flat at 3,570.0p at 8:13
Revenue increased by 16% to £93.2m (in constant currency terms: up 25%; up 13% on a like-for-like basis), driven by a 20% increase in own-design XP product revenues to £72.6m. Order intake increased by 9% for the six months ended 30 June 2018 to £101.4m (up 17% in constant currency terms).
Read more...Lazard World Trust Fund (WTR); Final Results: $5.45 NAV/share at year-end
Stock flat at 380p at 08:04
WTR announced results for the year ending March 31, 2018. The total return (20.9%) compared favourably with the benchmark, the MSCI All Country World Index ex-U.S. (up 16.5%) and the reference benchmark, the MSCI All Country World Index (up 14.8%), for the year.
Read more...NANOCO (NANO); Revamps executive team
Stock up 1.31% to 42.4p at 8:04
NANO announced to combine CFO and COO positions into a unified position, following the resignation of Keith Wiggins as COO last month. The company appointed Brian Tenner to the new unified role, effective from 20 August 2018.
Read more...Egdon Resources (EDR); Petrichor increases interest in Egdon to 29.99%
Stock up 2.86% to 10.80p at 8:07
EDR announced that Infinis Energy Services (100% owner of Alkane Energy Limited) has completed the sale of 35,870,487 Egdon ordinary shares held by Alkane (13.797% of EDR’s issued share capital) to Petrichor Holdings Cooperatief U.A (Petrichor). VSA Capital made a placement of 4,129,513 Egdon ordinary shares (1.588% of EDR’s issued share capital) to an institutional investor.
Read more...Custodian REIT (CREI); Purchases properties at Shrewsbury and Stafford
CREI purchased two properties at Shrewsbury and Stafford for a combined value of £7.375m, reflecting net initial yield of 6.38%, funded from existing debt resources (net gearing increased to 22.0% loan to value).
Read more...Gear4music’s trading statement in line with expectations of 29% sales growth for the full year
Gear4music has showcased the strength of its brands and management with independent strong revenue growth in a challenged UK retail market.
Read more...Target Healthcare REIT (THRL); EPRA NAV at 105.7pps; declares fourth interim dividend of 1.6125pps
Stock down 0.54% to 111.89p at 8:12
THRL announced its quarterly NAV as of 30 June 2018. It also declared a dividend and provided an update on corporate activity. The EPRA NAV per share for the quarter was 105.7p (31 March 2018: 105.0p), resulting in a 2.30% NAV total return for the quarter.
Read more...Hutchison China MediTech (HCM); 1H18 results; reports net loss driven by higher investment in R&D
Stock up 1.20% to 5,040p at 8:01
HCM’s 1H18 results highlighted that group revenue declined to $102.2m (1H17 - $126.6m) and net loss attributable to HCM was $32.7m (1H17 - net profit $1.7m). Cash resources at the group level were lower at $416.9m (YE17 - $479.6m).
Read more...Custodian REIT (CREI); 16,770 sq ft property purchased for £1.67m
CREI has acquired a 16,770 sq ft car dealership on Battlefield Enterprise Park, Shrewsbury, at an agreed purchase price of £1.67m.
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