The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Argo Group Ltd - AIM-listed alternative investment manager offering an investment platform in global emerging markets - Revenue in 2023 rises to $3.1 million from $2.5 million a year earlier. Pretax loss widens to $14.4 million from $3.4 million. Chief Executive Kyriakos Rialas says ‘2024 continues in positive territory.’
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Graft Polymer (UK) PLC - London-based developer and producer of polymer modification and drug delivery systems - Revenue in 2023 rises to £587,000 from £542,000 a year earlier. Pretax loss £3.1 million, widening from £2.7 million. ‘Following an extraordinarily difficult two years for the group, resulting in a huge depletion of funds on account and severe constraints on the group’s ability to continue trading, I joined the Board to oversee a strategic change and progress a short term fundraise,’ Non-Executive Chair Nicholas Nelson says. ‘Despite the upcoming period presenting challenges for the group the board are confident that with the correct management approach we can safely navigate back to prosperity and I look forward to keeping shareholders informed as developments unfold.’
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Mustang Energy PLC - London-based special purpose acquisition company focused on energy storage and stationary battery assets - Operating loss narrows to £391,758 in 2023 from £608,693 a year earlier. Swings to pretax profit of £169,534 from a loss of £558,898.
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Aseana Properties Ltd - Malaysia and Vietnam-focused property developer - Revenue in 2023 rises to $1.2 million from $980,000 a year earlier. Pretax loss narrows $10.7 million from $17.6 million. ‘Our focus has again been to minimise operating costs and net cash outflows at each of our properties whilst our Asset Divestment team seeks to dispose of them at reasonable prices. The sale of our Vietnam assets in 2022 significantly reduced our project debts, reducing our debt servicing costs even in the higher rate environment,’ the company says.
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Hydrogen Utopia International PLC - London-based company, which specialises in the conversion of waste plastic into hydrogen and other carbon-free fuels - Operating loss in 2023 widens to £1.6 million from £1.5 million a year earlier. Pretax loss stays same at £1.5 million. Non-Executive Chair Simon Mann says: ‘We continue to see strong support for the energy transition from governments around the world which should lead to an increase in the size and scale of hydrogen projects and further exciting opportunities for HUI.’
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