The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
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Catalyst Media Group PLC - provides content and production services to the betting industry - Swings to pretax loss of £420,229 in the six months to December 31 from profit of £751,300 a year prior. Revenue is unchanged at £12,500 while administrative expenses drop to £67,810 from £96,739. But bottom line is hurt by £370,131 share of loss of an equity-accounted associate compared with £829,405 profit a year prior. Net asset value per share falls to 147.3 pence from 151.6p. CMG’s main asset remains its 20.54% stake in SIS. CMG says SIS’s racing business, both for retail and online, has remained robust in the period although market conditions for racing continue to be tough. While SIS’s non-racing business, eSports and numbers, sees significant growth from both an increase in customers, and revenue growth from existing customers. However, the onboarding of new customers has been achieved later than expected, impacting profitability in its financial year to March 31. As a result, SIS expects to see a decline in profitability year on year. CMG says the carrying value of its investment in SIS will be reviewed at its financial year end. Further, CMG notes it has sufficient working capital for ‘its current needs’ as group overheads are expected to remain at a consistently low level.
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Critical Metals PLC - London-based company focused on acquiring and developing brownfield mining opportunities in the critical minerals sector - pretax loss widens to £1.2 million in the six months to December 31 from £1.1 million a year prior. Reports revenue from continuing operations of £3,575 compared to zero a year before. Exploration expenditure falls to £61,480 from £148,240 but this is offset by higher depreciation costs of £55,756 against £26,444 and a £60,028 finance charge compared with zero a year ago. Chief Executive Russell Fryer says: ‘We are firmly focussed on unlocking the inherent value potential of Molulu. Whilst financial constraints during the period under review have limited our operational activity, we remain confident in Molulu’s value proposition as an exciting copper asset in a sector experiencing renewed Western interest and solid copper prices.’ Critical Metal has a controlling 100% stake in Madini Occidental Ltd, which holds an indirect 70% interest in the Molulu copper/cobalt project, a medium-scale asset in the Katangan Copperbelt. ‘Whilst operational progress during the period has been slower than anticipated, we have taken decisive steps to manage costs effectively and ensure we are well-prepared for future activity,’ at Molulu, company says.
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Geo Exploration Ltd - formerly Global Petroleum Ltd, an Australia-based oil and gas exploration company focused on Africa and the Mediterranean, with principal assets being exploration blocks offshore Namibia - pretax loss balloons to $543,290 in the six months to December 31 from $3,164 a year prior. Other income is zero compared with $305,799 a year ago, while employee benefit expenses soar to $332,372 from just $16,401. Geo Exploration says it will continue with advanced discussions with the potential farmee for the PEL0094 licence and other interested parties to secure the best outcome for shareholders.
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Orchard Funding Group PLC - Luton, England-based specialist in insurance premium finance and the professions funding market - Pretax profit jumps to £2.1 million in six months to January 31 from £1.1 million a year prior, as revenue rises 14% to £5.3 million from £4.7 million. Lending volume climbs 2.8% to £60.1 million from £58.4 million. Net interest income increases 28% to £3.5 million from £2.7 million. The net interest margin improves to 13.17% from 11.20%. Chief Executive Officer Ravi Takhar states: ‘The company has successfully increased its lending and revenues over the first half of the year. We have nearly doubled our profits from the same period last year and intend to maintain our growth momentum. We are continuing to lend, compete and succeed in an extremely competitive market.’ Reinstates interim dividend at 1 pence per share and pays an additional 1p per share special dividend.
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GS Chain PLC - London-based investment company which invests in real estate, fintech, automotive and blockchain technologies related companies - Pretax loss narrows to £169,150 in the six months to December 31 from £226,619 a year prior. Remains committed to identifying a deal that will bring long term value to investors and the company continues with its efforts to identify suitable targets for acquisition.
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Gaming Realms PLC - London-based mobile betting games developer - Pretax profit jumps 61% to £8.3 million in 2024, from £5.2 million a year prior. Revenue increases 22% to £28.5 million from £23.4 million a year prior, with licensing revenue up 23% to £24.5 million from £19.9 million. Says its strategic focus on content licensing has continued its ‘significant’ revenue growth and high margins, with traction in both existing and emerging markets. Points to an ‘exciting’ pipeline of new partners and game releases and says it remains well positioned for continued expansion and success through 2025. Reflecting this confidence, announces initial £6 million share buyback. Pays no interim or final dividend, plans to invest in the growth of the business and return surplus capital via a buyback. Reports a strong start to trading in 2025 with revenue in line with management expectations, driven by core content licensing business showing a 22% increase in the first two months of the year from a year prior.
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Spectra Systems Corp - Rhode Island, US-based company, provides technology for secure transactions, from banknotes and products to gaming - Pretax profit rises to $11.3 million in 2024 from $7.5 million in 2023. Revenue more than doubles to $49.2 million from $20.3 million a year prior. Product revenue soars to $43.1 million from $13.4 million. This includes a contribution from Cartor Security Printers, acquired in December 2023. Spectra describes acquisition as ‘transformative’. Company expresses confidence for significant increases in revenues cash generation, and continued long-term growth and believes it is on track to achieve record earnings in 2025. Declares unchanged annual dividend of $0.116 per share.
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ECR Minerals PLC - gold-focused exploration and development company - Pretax loss narrows to £1.2 million in the financial year ending September 30 from £1.8 million a year prior as total administrative expenses drop to £1.2 million from £1.7 million. In 2024, ECR says it ‘significantly advanced’ assets across the group through an ‘acceleration of pace and a diligent assessment of our portfolio.’ These efforts have produced considerable opportunity, it adds, noting promising results from Tambo, Lolworth and Creswick. Suggests it is Blue Mountain, ‘where we have the opportunity to commence production later in the year, that provides the nearest revenue opportunity.’ Looking ahead, ECR says: ‘There is considerable cause for optimism as we enter 2025. We will continue to investigate the potential to bring Blue Mountain into production, whilst also advancing our other assets. Alongside that our policy of keeping a tight rein on costs is unchanged.’
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