Earning Updates on 4 LSE-listed companies: ATMA, CNR, TET & LAND

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Earning Updates on 4 LSE-listed companies: ATMA, CNR, TET & LAND

 Earning Updates on 4 LSE-listed companies: ATMA, CNR, TET & LAND

In this earnings season, many British companies have reported lower top line growth due to the economic downturn. Let’s have a look at 4 diverse sector companies that have reported their latest financial performance on Tuesday. It includes ATLAS Mara Limited, Condor Gold Plc, Treatt Plc and Land Securities Group Plc.

Overview of ATLAS Mara Limited

Atlas Mara Limited (LON: ATMA) is a sub-Saharan African financial services institution. The company aims to be an optimistic disruptive strength in the markets through leveraging technology to offer pioneering and distinguished products, deliver outstanding client facilities and speed up financial inclusion.

Financial Highlights

On 12th May 2020, ATMA Mara Limited announced its annual results for the financial year ended 31st December 2019.

  • The company has reported an adjusted net profit of $5.8 million for 2019, compared to net profit of $26.4 million reported in prior year 2018. The reduction mainly reflects the higher impairments, contraction of loan book, lesser margins, & tighter liquidity, and the difference of one-off gain recognised in the comparable period on the acquisition of additional shares in UBN.
  • The company has declared dividends in two countries- Botswana and Nigeria- for the first time since it became the shareholders of these banks.
  • The loss per share of the company was reported to 84 cents in the year 2019 versus earnings per share of 23 cents in the year 2018.
  • The income statement and balance sheet of the company were obstructed due to IFRS 5 impairment loss of $105.5 million during the year 2019, and due to impact of hyperinflation bookkeeping in the African country, i.e. Zimbabwe.
  • The company’s gross loans increased by 9.7 per cent, consistent with a drive to create quality risk assets throughout key economic sections of the prospect.
  • Total revenue reduced by 18.0 per cent, reflecting the decline of net interest income by 35.0 per cent during 2019.
  • During the year 2019, the operating expenses of the company reduced by 4.1 per cent, due to weaken currency in Zimbabwe and the strategic cost management initiatives throughout the Group.
  • Due to COVID-19, the company has reportedly been experiencing the worst impact on African market with sovereign debt yields, public equities, and local currencies getting drastically deteriorated in a short span of time.

ATMA - Share Price Performance

ATMA shares have recorded no change in price on 13 May 2020 while it last traded at USD 0.52, down 8.77 per cent, on 12 May 2020. The company’s stock achieved a 52-week high price of USD 1.74 on 15th May 2019 whereas, the company’s shares posted the lowest price of USD 0.46 in the last one year on 06th May 2020.

Overview of Condor Gold Plc

Condor Gold plc (LON: CNR) is a LSE-listed metals and mining company that is focused on gold exploration and the development of its wholly-owned La India in Nicaragua, Central America. The company is dually listed in Alternative Investment Market of the London Stock Exchange and Canada’s Toronto Stock Exchange.

Financial Highlights

On Tuesday, the company unveiled it unaudited results for three months ended 31st March 2020.

  • The company’s operational gains increased to £91,302 in Q1 2020 as compared to the loss of £352,989 during the three months ended 31st March 2019.
  • On 17th March 2020, the company declared the issue of 500,000 new implement the equal number of warrants at a price of 31 pence per Warrant to raise £155,000.
  • The cash and cash equivalent of the company increased to £1,736,695 as compared to the previous corresponding period’s £1,116,349.
  • On the front of operational progress, the company recently announced the awards for the environmental permit for its two gold projects- the Mestiza open pit America open pit.
  • Now, Condor has 1.12M ounces gold open pit permitted for mineral resource extraction.

CNR - Share Price Performance

CNR shares are trading at GBX 39.00, down GBX 3.00 or 7.14 per cent, on 13 May 2020 as at 10:10 AM GMT. The company’s stock achieved a 52-week high price of GBX 47.0 on 06th May 2020 whereas, the company’s shares posted the lowest price of GBX 16.50 in the last one year on 06th June 2019.

Overview of Treatt Plc

Treatt Plc (LON: TET) is a publicly listed ingredients producer and solutions supplier to the international flavour, fragrance, and consumer goods markets. Founded in 1886, the company has a strong presence across the United States, the United Kingdom, and China with more than 370 employees working across all the three locations.

Financial Highlights

On 12th May 2020, Treatt Plc announced its half-yearly results for the period ended 31st March 2020.

Financial Highlight of Treatt Plc (Source: company websites)

  • Group’s gross margin improved by 120 bps to 26.2 per cent during the six month of FY2020 due to the relative development in higher-margin product categories.
  • In line with the company’s guidance, TET revenue from continuing operations fell 5.3 per cent to £53.6 million in 1H 2020. It led to lower profit before tax of £6.1 million, down 2.0 per cent compared to 1H 2019 figure of £6.2 million profit.
  • Treatt’s revenue in China decreased by 5.8 per cent, but the company expects it to come back with growth in the second half on likely decline of coronavirus impact. The UK and the rest of European regions’ revenue has decreased by 25.2 per cent during the half-year of FY2020.
  • As at 31st March 2020, the company reported a net cash balance of £6.1 million, versus £15.6 million at the start of the period.
  • The company has increased its interim dividend by 8.2 per cent to 1.84 pence per share for the period, payable on 13th August 2020.

TET - Share Price Performance

The stock of the company is trading at GBX 508.00 on 13th May 2020 (at around 10:05 AM) on the London Stock Exchange. It reflects a drop of GBX 8.00 or 1.55 per cent in the stock price compared to the previous close of GBX 516.0. The company’s stock achieved a 52-week high price of GBX 550.0 on 07th February 2020 whereas, the company’s shares posted the lowest price of GBX 310.0 in the last one year on 23rd March 2020.

Overview of Land Securities Group Plc

Land Securities Group Plc (LON: LAND) manages and owns high-worth property assets in the United Kingdom. The company’s portfolio includes a diverse range of retail, office and specialist spaces across the world.

Financial Highlights

On 12th May 2020, the company announced its financial results for the year ended 31st March 2020.

(Source: Company website)

  • In the year ended 31st March 2020, net rental income reduced by £35 million leading to lower revenues. The company’s revenue profit decreased by 6.3 per cent to £414 million due to the impact of the novel coronavirus.
  • Adjusted diluted earnings per share decreased by 6.4 per cent to 55.9 pence due to the drop in the company’s revenue profit.
  • The company’s assets dropped in value by 8.8 per cent or £1,179 million versus with a £557 million drop in the previous year.
  • Due to an upsurge in interest capitalized on the company’s developments in the FY2020, net finance expense has decreased by £3 million to £95 million.
  • During the FY2020, the net debt improved by £195 million to £3,942 million as compared to the prior year.

LAND - Share Price Performance

The stock of the company is trading at GBX 554.40 on 13th May 2020 (at around 10:08 AM) on the London Stock Exchange. That means the stock price is up by GBX 2.60 or 0.47 per cent compared to the previous close. The company’s stock achieved a 52-week high price of GBX 1,019.50 on 13th December 2019 whereas, the company’s shares posted the 52-week low at GBX 514.60 on 03rd April 2020.

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