(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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President Energy PLC - energy company with assets focused primarily in South America - Narrows pretax loss to USD3.0 million in the six months ended June 30, from USD3.5 million last year. Revenue rises to USD17.1 million from USD13.7 million the year before. Continues its focus on reducing costs.
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Jangada Mines PLC - London-based resource company with assets in South America - Swings to profit of USD1.0 million in the six months ended June 30, compared to a USD796,000 loss the previous year. Notes total assets of USD7.1 million on June 30, up from USD4.4 million at the end of 2020. Prepares for definitive feasibility study at Pitombeiras Ferrovanadium project in Brazil. Reports a total mineral resource estimate of 8.26 megatonnes for the Pitombeiras, representing a 45% increase on previous guidance. Says 62% of this estimate is now classified at the higher confidence measured & indicated mineral resources category.
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Hemogenyx Pharmaceuticals PLC - London-based blood disease drug developer - Pretax loss widens to GBP3.6 million in the six months ended June 30, from GBP835,189 the year prior. Completes development phase of its CDX antibody with global pharmaceutical company GlobalCo. In talks to license GlobalCo's portion of the intellectual property for future work on CDX projects. "While progress towards the next stage with GlobalCo on the CDX antibody is continuing, the company has made very significant steps in relation to HEMO-CAR-T, and its efforts to combat viral pathogens such as Covid-19 are encouraging," adds Chair Marc Feldmann.
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Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Swings to pretax profit in the financial year ended March 31, from a GBP642,188 loss the year before. Says its portfolio projects are all an "interesting stage" and in good jurisdictions. The commodities forecast to shows strong price growth for its products, particularly copper. Aims to grow copper portfolio to take advantage of the "acquisition frenzy" it expects in 2023.
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Fox Marble Holdings PLC - AIM listed company focused on marble quarrying and processing in Kosovo and the Balkans region - Narrows pretax loss to EUR683,000 in the first six months of the year, compared to a EUR799,000 in the first half of 2020. Revenue rises 5.4% year-on-year to EUR196,000 from EUR186,000. Produces 2,959 tonnes in the first half, up sharply from 932 tonnes last year. Receives support of barrister Samuel Wordsworth in the company's EUR195 million claim against the Republic of Kosovo for breach of the provisions of the Kosovo Investment Law.
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GYG PLC - Spanish super-yacht painting, maintenance and supply company - Pretax loss widens to EUR1.1 million in the six months ended June 30, compared to EUR460,000 the year prior. Revenue jumps 28% to EUR37.3 million from EUR29.1 million last year. Total order book stands at EUR48.0 million on September 22, with a forward order book of EUR7.0 million. Declares no interim dividend for the first half. Expects significant increase in new build revenue in 2022.
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Ariana Resources PLC - gold miner in Turkey and Australia - Sees pretax profit rise sharply to GBP7.1 million in the six months ended June 30, from GBP2.2 million in the same period last year. Says this reflects the profit realised on restructuring of group activities. Reports drop in share of profits from the Kiziltepe Mine to GBP1.3 million in the first half, from GBP3.0 million last year. Says this is partially due to the reduction in its holding in Kiziltepe to 24% from 50%. Pays first part of its inaugural interim dividend of 0.35 pence per share on September 24. Declares second part of the inaugural interim dividend of 0.175p, which is due to be paid no later than March 31, 2022.
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Synairgen PLC - Southampton, England-based drug discovery and biotechnology company - Pretax loss widens to GBP38.9 million in the six months ended June 30, from GBP5.1 million the previous year. Reports a 16.47p loss per share, compared to a 3.11p at the same period in 2020. Says research, development costs rose sharply to GBP36.9 million from GBP4.5 million. Expects top-line results from its Phase three Sprinter trial of Covid-19 treatment in early 2022. Hires Crescendo Biologics chief executive Theodora Harold as independent non-executive director of Synairgen and chair of the audit committee.
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Emmerson PLC - Isle of Man-based project developer - Pretax loss widens year-on-year to GBP839,000 in the first six months of 2021, from GBP315,000 a year earlier. Reports total assets of GBP13.7 million on June 30, up 42% from GBP9.6 million at the end of 2020. Reaches final assessment stage of its environmental and social impact assessment submission for the Khemisset potash project in Morocco. Says decline alignment drilling is underway at Khemisset. Advances land acquisition programme.
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KCR Residential REIT PLC - residential-focused real estate investment trust - Narrows pretax loss to GBP924,234 the 12-months ended June 30, from GBP3.6 million the year before. Reports revenue of GBP1.0 million, the same as the previous financial year. Lowers cost of sales by 86% to GBP20,606 from GBP152,605. Cuts administrative expenses by 32% to GBP1.1 million in the full year from GBP1.6 million in the previous financial year. Decides against declaring a dividend, unchanged from financial 2020.
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Provexis PLC - Reading, England-based producer of heart-health functional food ingredient Fruitflow - Revenue lifts 45% to GBP505,330 in the year ended March 31, from GBP347,937 the year prior. Pretax loss narrows year-on-year to GBP359,343 from GBP424,465. Notes good progress in the launch of Fruitflow by Chinese dietary supplement business By-Health Co Ltd. Says By-Health expects to file its regulatory submission to the State Administration for Market Regulation in the first half of 2022. Outlook remains positive for Fruitflow and its Provexis business in the coming year and beyond.
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Aminex PLC - Tanzania focused gas project developer - Sees revenue fall year-on-year to USD86,000 in the six months ended June 30, compared to USD300,000 the previous year. Reports widened pretax loss of USD1.6 million, from USD1.2 million. Executive Chair Charles Santos says: "We are excited that the Ntorya gas development is entering a period of operational activity by acquiring 3D seismic and well execution, representing significant steps towards monetising this large gas resource into existing infrastructure and an established market in Tanzania. Moreover, we want to recognise the steadfast and efficient efforts of APT in moving the Ruvuma project forward."
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Creo Medical Group PLC - medical device company focused on surgical endoscopy - Posts pretax loss of GBP11.4 million in the six months ended June 30, narrowed from GBP10.5 million the previous year. Revenue jumps year-on-year to GBP12.9 million from GBP2,000. Declares no interim dividend in the first half. Says its cautiously optimistic that key markets will reach pre-pandemic levels in near term. Expect positive trading trend to continue through the second half and into 2022 "as the pandemic eases, with increasing clinician education, training sites, adoption and patient procedures using our technology."
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Nanosynth Group PLC - digital monitoring and safeguarding systems manufacturer formerly known as Remote Monitored Systems - Revenue jumps to GBP135,116 in the six months ended June 30, from GBP13,563 in the first half of 2020. Pretax loss widens to GBP1.2 million form GBP202,862.
Administration expense reaches GBP1.2 million in the first half, from GBP188,553 a year ago. Declares no dividend for the period, unchanged from year prior.
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Rurelec PLC - London-based power producer - Swings to a pretax loss of GBP875,000 in the first six months of 2021, from GBP676,000 profit the year prior. Notes a 24% year-on-year drop in administrative expenses to GBP443,000 from GBP583,000. Focuses on stabilising its financial position and keeping costs under tight control. To boost cash reserves, the company disposes of its Frame 6B Gas Turbine for USD1.0 million. Says dividend payments remain uncertain unless returns from the Argentinian operations improve or further asset disposals are achieved.
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Zephyr Energy PLC - oil and gas explorer in the Rocky Mountain region of the US - Reports revenue of USD917,000 in the six months ended June 30, compared to none in the same period in 2020. Swings to a pretax loss of USD968,000 from a USD906,000 profit the year prior. Declares no interim dividend, in line with the previous year. Targets production from Paradox project in next few months. The next few months will continue to see a flurry of corporate and operational activity as we target production from the Paradox project, increase non-operated production and accumulate cash flows from our assets in the Williston Basin," says Chief Executive Colin Harrington.
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Fragrant Prosperity Holdings Ltd - British Virgin Islands-based special purpose acquisition company - Reports a pretax loss of GBP241,709 in the year ended March 31, from GBP191,778 the year before. Says this widened loss represents ongoing administrative expenses and costs incurred in identifying potential transactions. Notes a bank balance of GBP562,204 on March 31, up from GBP127,710 at the end of financial 2020. Continues to review potential acquisition opportunities. Enters letter of intent to acquire the entire issued share capital of cannabis wellness company CiiTech Ltd for GBP17.5 million payable in newly issued shares in the company.
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Pennpetro Energy PLC - oil & gas company - Narrows pretax loss to USD482,000 in the six months ended June 30, from USD1.0 million last year. Borrowing totals USD4.1 million on June 30, down 2.0% from USD4.1 million at the same point in 2020. Says the Covid-19 pandemic curtailed all Texas based operational activity.
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Ashoka India Equity Investment Trust PLC - India-focused investment trust - Swings to a pretax profit of GBP47.8 million in the year ended June 30, up from a GBP2.9 million loss the previous year. Net asset value per share reaches 158.9p on June 30, up 53% from 104.1p on that date a year prior. Reports a 94% year-on-year increase in net assets to GBP136.6 million on June 30, from GBP70.5 million. Declares no dividend.
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Alternative Income REIT PLC - investor in UK commercial property assets let on long leases - Reports rental and other income of GBP7.4 million in the year ended June 30, down 5.1% from GBP7.8 million the year before. Swings to pretax profit of GBP5.6 million from a loss of GBP5.1 million in the previous financial year. Net asset value per share rises to 85.58p at June 30, from 83.58p at the end of financial 2020. Declares total dividend of 5.14p for each company share, compared to 5.0p in its previous full-year.
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Cizzle Biotechnology Holdings PLC - London-based biotechnology firm - Reports a widened pretax loss of GBP3.2 million in the year ended June 30, from GBP8,000 the previous financial year. This loss largely reflects GBP2.8 million in reverse acquisition expenses and transaction costs of GBP304,000 during financial 2021, compared to none the year prior. Chair Allan Syms says: "Our next steps will be to consider how we can broaden the use of our [diagnostic products] technology for wide scale screening in doctor's office testing. We also are keen to broaden the scope of our tests beyond lung cancer so we can address the challenge of early diagnosis in other cancers with unmet needs."
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Serabi Gold PLC - gold miner in Brazil - Pretax profit reaches USD6.4 million in the six months ended June 30, up 75% from USD3.6 million one year prior. Revenue increases 10% year-on-year to USD32.5 million from USD29.5 million. Average gold price reaches USD1,807 per ounce, compared to USD1,647 during the first half of 2020. Notes all-In sustaining costs of USD1,320 per ounce, up 4.3% from USD1,265 per ounce the previous year.
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Boanerges Ltd - special purpose acquisition company focused on small and medium sized enterprises - Reports a GBP161,452 interim loss in the six months ended June 30. Continues to review several "interesting opportunities" and is actively assessing its next investments. Continues to monitor the performance of Fintech Digital Platforms PLC, after taking a six-month option to invest GBP2 million at a pre-money valuation of GBP12 million. The amount paid for the option was GBP25,000, the company says.
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By Scarlett Butler; scarlettbutler@alliancenews.com
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