Edison Investment Research

Custodian REIT (CREI); FY18 EPRA EPS up 4.5%, NAV per share grows 3.4%

Stock down 1.32% to 120p at 8:00

CREI announced its FY18 (March 2018) results, with basic/diluted EPS growing ~10% to 8.9p and EPRA EPS increasing 4.5% to 6.9p. The company’s NAV/share total return was 9.6% (2017: 8.5%).

Picton Property Income (PCTN); total PAT up 50% driven by strong operational performance

PCTN’s EPRA earnings per share of grew 10.1% to 4.2p during year ended 31 March 2018 from 3.8p in 2017. Dividends paid during the year stood at £18.5 million, an increase of 3% compared to 2017. Total return during the year was 14.9%.

Abzena (ABZA); full year results: revenue up 18% YoY to £22.0m

Stock down 1.85% to 19.14p at 8:10

ABZA’s revenue rose 18% YoY to £22.0m (FY 2017: £18.7m) and operating loss increased to £14.9m (FY 2017: £9.7m) for the year ended 31 March 2018.

Petro Matad (MATD); final results; raises $16.8m equity

Stock down 0.67% to 11.92p at 8:13

MATD reported an after tax net loss for the year ended 31 December 2017 at $9.9m (end-2016: profit $10.9m) and a cash position of $5.1m (end-2016: $6.5m).

Tungsten Corp (TUNG); FY constant currency revenue up 9%, EBITDA loss narrows to £4.6m

Stock down 1.64% to 54.00p at 8:32

TUNG provided a trading update for FY ended April 2018, with revenue expected at £33.7m (£34.1m on a constant currency basis, +9%) and EBITDA loss at £4.6m (£11.8m loss in FY17).

APQ Global (APQ); 2017 final results – achieves a total return of 9.9%

Stock flat at 93.5p at 8:05

Book value (BV) increased from $95.6m during the start of the year to $100.0m as on 31 December 2017. EPS increased to $0.06995 in 2017 (2016: $0.00999). APQ achieved an increase of 4.6% in book value and total return of 9.9% in 2017.

GCP Student Living (DIGS); in advanced negotiations to acquire Scape Brighton

Stock flat at 145.0p at 8:11

DIGS is in advanced negotiations to acquire and fund the construction of Scape Brighton, a 550-bed student living facility in Brighton, UK. The community is expected to be operational in September 2020.

Egdon Resources (EDR); purchase of 5% additional interest in Wressle & Broughton North from Celtique

Stock down 0.18% to 11.10p at 8:10

EDR purchased an additional 5% interest in PEDL180 & PEDL182 (comprising the Wressle oil discovery and Broughton North Prospect, both operated by EDR) from Celtique Energie Petroleum Limited for a deferred cash consideration of £0.417m payable on commencement of production, taking its interest to 30%.

Aberdeen Private Equity Fund (APEF); potential tax recoverable on redemption – correction

Stock flat at 4.5p at 8:07

APEF corrected an error in its earlier announcement relating to potential tax recoverable on second compulsory redemption. The potential tax recoverable per share should be 6.4p (equating to about $2.3m) and not 3.2p as mentioned earlier.

Custodian REIT (CREI); purchase of property at Lincoln

Stock up 0.33% to 120.60p at 8:16

CREI purchased a prominently located 77,242-sq. ft. property in Lincoln for £4.3m (funded from existing debt resources).