Edison Investment Research

Aberdeen Asian Income Fund (AAIF); NAV increases 13.3% in sterling terms for H1 2019

The search for defensive yield played to the portfolio's favour

Aberdeen Asian Income Fund announced its half yearly report for the six months ended 30 June 2019. Share price at the end of the period was 217.0p, representing a discount of -8.6% to the NAV per share. The company announced two dividends totalling 4.5p per share, representing an annualised dividend yield of 4.2%. Net gearing stood at 6.9%.

Ocean Wilsons Holdings (OCN); operating profit down 25%

Ocean Wilsons Holdings announced its interim management statement for the six months ending 30 June 2019. Group revenue decreased 15% to US$199.2m, whereas profit increased US$17.3m to US$34.0m, mainly due to an increase in returns from the investment portfolio and positive foreign exchange movements. Net cash inflow from operating activities was US$47.6m, while US$24.8m in dividends were paid to shareholders. The investment portfolio increased to US$278.4m after dividends paid from the portfolio of US$2.0m.

ReNeuron Group (RENE); announces exosome collaboration with the University of Cardiff

Programme of research will be undertaken by ReNeuron and the European Cancer Stem Cell Research Institute at Cardiff University

ReNeuron Group is partnering with the University of Cardiff under a new grant-funded collaboration that will utilise its exosome-based drug delivery technology. This has been awarded under Innovate UK’s Knowledge Transfer Partnership and will fund a £250,000 collaborative research programme.

KEFI Minerals (KEFI); issued 17.5m new ordinary shares to loan providers

Shares issued as part of the conversion of working capital loan

KEFI Minerals announced the issuance and allotment of 17.5m new ordinary shares of 0.1p each to its loan provider at 0.96p per share. The shares were issued to convert £168,000 of loan notes to ordinary shares. The loan provider holds less than 3% of the company’s outstanding share capital.

Lookers (LOOK); underlying PBT decreases 27.5%

Lookers announced its results for the six months ended 30 June 2019. Total revenue increased 2.7% to £2,646.4m. Underlying basic EPS decreased 29.5% to 6.06p, while interim dividend remained at 1.48p. The company witnessed a strong balance sheet with net debt of £73.9m.

Osirium Technologies (OSI); announces first contract win for Opus

The customer is a leading asset manager

Osirium announced the first contract win for its robotic process automation solution Opus, which was launched in May 2019. The customer is a leading asset manager who renewed the company’s full PxM platform for a three-year term, as announced in May.

SCISYS (SSY); wins contract with major European broadcaster

Contract win included in the existing market guidance

SCISYS announced that it has bagged a contract with a major European Broadcaster for newsroom software, services and training. It will provide an integrated newsroom solution for planning and rundown management.

Witan Investment Trust (WTAN); posts NAV total return of 13.5%

The company announces a second interim quarterly dividend of 1.175p per ordinary share

Witan Investment Trust announced half-year results for the period ended 30 June 2019. The NAV total return was 13.5%, 1.4% below the benchmark return of 14.9%. The share price total return was 11.7%, as the discount widened from 1.3% at the end of 2018 to 2.9% at the end of June.

Silence Therapeutics (SLN); issued 200,000 shares

Admission to trading expected to be effective on 16 August 2019

Silence Therapeutics announced the issue and allotment of 200,000 new ordinary shares of 5p each yesterday, following the exercise of share options under its employee share option scheme. The company has applied to the London Stock Exchange for admitting the new shares to trading on AIM. It expects the admission to be effective on 16 August 2019.

Marshall Motor Holdings (MMH); reports revenue increases 1.8%

The company witnessed a strong financial performance with its H1 result coming in line with the board's expectations

Marshall Motor Holdings announced its interim results for the six months ending 30 June 2019. It reported PBT and basic EPS decreased 9.0% and 10.4% to £14.8m and 14.6p, respectively. DPS rose 32.6% to 2.85p, aided by the recently revised dividend policy. The balance sheet was strong with net assets of £200.7m as of 30 June 2019.