Bellway completes record number of homes, revenues increase

Safiya Bashir
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0
Bellway completes record number of homes, revenues increase

Bellway has completed a record number of homes in the first half of the year, which is leading to almost record revenues at the housebuilder.

In the six months to January 31, the group completed 5,694 new homes. Revenues at the group is expected to grow from £1.715bn to £1.778bn.

“Bellway has delivered a strong first half performance, achieving record volume output and housing revenue, notwithstanding the wider economic challenges presented by labour, material and fuel shortages and COVID-19 related absenteeism,” said chief executive, Jason Honeyman.

“We have continued our disciplined investment in land and enter the second half of the financial year with a strong order book and a backdrop of ongoing, positive trading conditions,” he added.

Going forward, Bellway is on track to deliver its target volume growth of around 10% this financial year and further growth to around 12,200 homes in financial year 2023.  Thereafter, our strong balance sheet and capacity to invest positions the Group well to continue its long-term and disciplined growth strategy,”

LadBible posts strong revenues

Safiya Bashir
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0
LadBible posts strong revenues

LadBible revenues were ahead of expectations for the year, hitting £54m.

Thanks to the content marketing and direct display sales across Australia and the UK, the group saw a jump in revenues and growth.

“LBG Media delivered an outstanding performance in 2021, both financially and operationally,” said Solly Solomou, the chief executive.

“The business operates in structurally growing markets, and it is a testament to our well-invested operations that we have the platform, the audience and the know-how to deliver relevant content to a coveted, hard-to-reach youth audience across a broad portfolio of distinct brands.”

“This positions us very well for the future, as we execute our stated growth strategy from a position of financial and operational strength.”

The group manages brands including Tyla, LADbible and SPORTbible.

Mattioli Woods profits soar 96%

Safiya Bashir
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0
Mattioli Woods profits soar 96%

Mattioli Woods posted a 96% jump in pre-tax profits for the six months to 30 November 2021.

The wealth management firm from £7.2m a year previously to  £14.1m thanks to a number of successful takeover deals.

Chief executive Ian Mattioli MBE said: “In the first six months of this financial year saw the Group build momentum, having shown resilience in spite of the economic and political complexities that persisted throughout 2021.”

“The eight acquisitions completed since 1 June 2020, including our two largest acquisitions to date: Maven and Ludlow, contributed £19.4m of revenue in the period,”

Shareholders saw a interim dividend payment of 8.3p, which was an increase of 10.7% compared to the previous year.

Aquis Stock Exchange January 2022 trading levels

Andrew Hore
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1
Aquis Stock Exchange January 2022 trading levels

The latest trading on Aquis shows that volumes are increasing. There were 4,682 trades valued at £20.4m, which is up from the 4,077 trades valued at more than £18m in December. There were 20 trading days in each month.
The top two most traded companies were the same as in December. Engineer Vulcan Industries dropped from third to ninth and Shepherd Neame fell to eighth. They were replaced in the top five by newly floated Hydrogen Utopia International, which was not on Aquis for the full month, and Forbes Ventures.
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TOP 5
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KR1 (LON: KR1)
Value of trades: £6,937,960
% of market value: ...

Cadence Minerals completes first phase of Amapa Iron Ore investment

UK Investor Magazine
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0
Cadence Minerals completes first phase of Amapa Iron Ore investment

Cadence Minerals have completed the first tranche of their investment in the Amapa Iron ore projects and secured a 20% interest in the asset.

Following a landmark restructuring agreement in December, Cadence Minerals have now completed all regulatory and contractual requirement and have confirmed they now own 20% of the joint venture that has a 100% interest in the Amapa Iron Ore Project.

Having conducted a heavily oversubscribed placing to raise £4.1m, Cadence Minerals are now focusing on the second phase of the investment and securing an additional 7% stake in the project for a consideration of $3.5m.

Indo Sino, Cadence Mineral’s joint venture partner, will have a twelve-month option to buy the shares in the JV held by Cadence for 1.5x the price paid by Cadence for the shares, if Cadence does not complete the investment.

“I am pleased to report that we have formally completed phase one of our investment into Amapa to acquire our initial 20 percent. Furthermore, our board are delighted that the recent fundraise to fund the second investment phase was oversubscribed. It is clear that our vision for Amapa is shared by new and existing shareholders alike given the high level of interest and participation in the fundraising,” said Cadence Minerals CEO, Kiran Morzaria.

“I look forward to reporting back to you on progress in the coming weeks.”

UK house price growth slows but still hits record high

UK Investor Magazine
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0
UK house price growth slows but still hits record high

UK house prices hit a recorded high in January as the average UK house price rose to £276,759, according to data from Halifax.

However, the pace of growth slowed notably to 0.3% which was the lowest level of growth since June 2021.

“House price growth slowed somewhat at the start of the year, rising by just 0.3% in January, the smallest monthly increase since June 2021. This followed four consecutive months of gains above 1%, and with annual growth remaining at 9.7%, the average UK house price was little changed, edging up slightly to a new record high of £276,759. Overall prices remain around £24,500 up on this time last year, and £37,500 higher than two years ago,” said Russell Galley, Managing Director, Halifax.

“Following the peak activity of 2021, transaction volumes are returning to more normal levels. Affordability remains at historically low levels as house price rises continue to outstrip earnings growth. Despite record levels of first-time buyers stepping onto the ladder last year, younger generations still face significant barriers to home ownership as deposit requirements remain challenging.”

Regional growth

Despite overall growth slowing to a marginal 0.3%, there were still areas of the Uk enjoying bumper increases in the year to January.

Wales recorded 13.9% house price growth and was again the UK’s fastest growing region. Northern Ireland also recorded a strong 10% increase in prices while Scotland prices rose 8.9%/

London recorded a 4.5% increase – the highest in over a year – and the North West remained the strongest area in England gaining 12%.

Lack of supply

The jump in house prices can once again be attributed to a lack of supply with new instructions dropping 14% according to the latest RICS Residential Market Survey.

The number of mortgages approved in December rose 5% to 71,100.

New AIM admission: Hercules builds on float

Andrew Hore
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0
New AIM admission: Hercules builds on float

Hercules Site Services originally hoped to raise up to £5.5m of new money through a placing and PrimaryBid offer and ended up raising £4m. The existing shareholder also raised £4m. The tougher market probably held back the price and money raised. It is still in a good position to take advantage of opportunities
Demand for staff for infrastructure projects will be significant over the next few years and the company is in a good position to benefit. The expected organic growth could be supplemented by acquisitions.
The shares opened at 52.5p and ended the day at 53.5p. There were just over 60,00...

New Aquis admission: SuperSeed fund of funds investment

Andrew Hore
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1
New Aquis admission: SuperSeed fund of funds investment

SuperSeed Capital Ltd raised £2m at 100p a share in order to invest in UK based seed technology companies alongside a related fund.
The share price ended the week at 70p (65p/75p). There were eight trades during the week and the first was for 1,000 shares at 90p each. A total of 36,000 shares were traded.
This is a large fall from the placing price. The NAV is 91.1p a share and directors can issue up to 50 million further shares at below NAV at the time of issue. They may not want to issue more shares at the current level, but the ability to issue shares lasts for five years. Observe progress....

FTSE 100 dips as markets brace for higher rates

UK Investor Magazine
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0
FTSE 100 dips as markets brace for higher rates

The US added 467,000 jobs in January smashing analyst estimates and suggesting the US economy was bouncing back from an Omicron-induced slowdown at the end of 2021.

The Non-Farm Payrolls released on Friday far surpassed analyst estimates of 125,000 but was met with a mixed market reaction.

The FTSE 100 gave up all of Friday morning’s gains in the wake of announcement, while major US indices failed to benefit from a surging Amazon share price. The dollar rallied as GBP/USD erase yesterday’s gains to trade at 1.3514.

Although the reading showed the US economy was healthier than expected, it brings nearer the time the market will have the punch bowl of easy monetary removed by the Federal Reserve.

Economists and market watchers are now predicting the Fed could begin to raise US interest rates as soon as next month and kick of a global tightening cycle in earnest.

However, the market reaction – especially that of equities – suggests there is a concern such a move will damage the economy given the soaring rates of inflation and pressures on consumers.

The US jobs data comes a day after the tightening of conditions in UK economy in the form of an interest rate hike and 50% increase in the energy price cap. In addition, the Bank of England seem set to increase rates further in the coming months after 4 of the 9 members of the MPC voted for a 0.5% increase in rates as opposed to the 0.25% increase announced yesterday.

“Inflation concerns are looming ever larger with the cost of living squeeze intensifying as monetary policy tightening ramps up, and no let-up in soaring energy prices in sight,’ said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown.

“With a more aggressive attitude coming from the Bank of England towards reining in inflation, it has set the tone for more anxiousness about the effect of sharply rising prices will have on consumer confidence and corporate resilience.”

Although the market impact has been limited thus far, a global tightening in monetary policy has the potential to destabilise the recovery if inflation continues to squeeze consumers pockets.

The FTSE 100 has eased slighting over the last two trading session and still remains positive on the year. But this masks investor repositioning in shares focused on the UK economy and health of consumer spending power.

This is particularly evident in housebuilders with Taylor Wimpey, Barratts and Persimmon all down between 13%-16% so far in 2022.

Retailing shares are also suffering. JD Sports has given up 14% and Kingfisher is down 9%.

These moves have been recorded in a period where the FTSE 100 has carved out a 2% gain helped by overseas earners and commodity companies.

Vodafone is the FTSE 100 top performer in 2022 adding some 18%. Oil majors BP and Shell have contributed a significant number of points to the FTSE 100 this year with Shell gaining 16%.

Income has started a crowdfunding campaign on Seedrs to fuel re-imagining investing in loans

UK Investor Magazine
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1
Income has started a crowdfunding campaign on Seedrs to fuel re-imagining investing in loans

Sponsored by Income

Income has started a crowdfunding campaign on the Seedrs platform to allow investors to join in the equity raise and the value creation that is taking place in the alternative asset investments. Income is re-imagining investing in loans and fueling financial inclusion globally. The CEO and the team have extensive experience in Fintech and investments.

Income is the first alternative investing platform that offers secured investing in loans and other types of credit globally. We operate an independent investment platform at www.getincome.com and cater to the needs of both professional and retail investors. For retail investors, the primary focus is on making investments effortless and safer while investing similarly to institutions. 

Offering secured investments to loans with attractive yields allows investors to protect themselves from inflation and generate wealth. At the same time, global co-operation with socially responsible non-bank lenders results in better and cheaper access to credit for millions. This co-operation solves a genuine financial and social inclusion problem, especially in emerging markets. 

Income’s industry-defining security features include  “Buyback Obligation” and “Cashflow Buffer,” which protect investors when investing in loans. Every loan on the platform comes with Buyback Obligation, meaning non-bank lenders we co-operate with are obligated to buy back the loan from investors if the borrowers do not pay.

The cashflow buffer protects investors from defaults of the non-bank lenders, making investments on Income effectively collateralized, unlike on any other competing platform. 

To make investing in loans effortless for retail investors, we have recently launched our mobile app for iOS and Android with an intuitive user experience design. Through the app, the investors have manual and automated ways of investing, and they can also choose quick investment strategies to automate earning passive income.

Income will use the money raised in the current round to strengthen the team, enhance the product, and support the onboarding of more investors and non-bank lenders. 

On the product side, we have exciting plans, from launching a secondary market for loans to further simplifying the mobile app as per our identified vital principles.

Income has accomplished a lot in the past 10 months of operation, but we are still only at the start of the journey. The Seedrs campaign is an excellent way for inventors to participate in the future of alternative asset investing and promoting financial inclusion globally. 

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversi ed portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future. Seedrs does not make investment recommendations to you and any investment decision should be made on the basis of the full campaign. No communications from Seedrs, through email or any other medium, should be construed as an investment recommendation.

This article has been approved as financial promotion by Seedrs Limited which is authorised and regulated by the Financial Conduct Authority (No. 550317)

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