In QuotedData’s morning briefing 16 March 2021:
- Hipgnosis plans to publish additional financial information which will help investors understand the underlying performance of its portfolio of songs. At the moment, purchases of new songs distort the company’s income. We now know that the portfolio of songs held on 31 December 2020 would have produced total revenue of $111.7m or 11.04 cents per share had it been held for 12 months. The company is also planning to disclose how the overall portfolio of songs performs against forecasts (based on a model). [These additional disclosures are welcome. However, there is no indication that the company plans to break down its performance by catalogue, as Round Hill Music does.]
- The Waterfall bid for Alternative Credit Investments completes today and we say goodbye to the former P2P/Pollen Street Secured Lending.
We also have results from BioPharma Credit, US Solar Fund and Smithson Investment Trust and acquisitions by LondonMetric Property and Sirius Real Estate.