The following is a round-up of earnings for London-listed companies, issued on Monday and Tuesday, and not separately reported by Alliance News:
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Pinewood Technologies Group PLC - Birmingham-based provider of software to the automotive retailing sector - Reports underlying pretax profit of £8.5 million for the 11 months to December 31, compared to £9.9 million in the 13 months ended January 31, 2024. Company says it is ahead of analyst expectations. Revenue rises to £31.2 million from £24.5 million. Says growth was driven by completion of Lithia UK system rollout and new customer wins. Total users up 6.3% to 35,200. Ups underlying earnings before interest, tax, depreciation and amortisation guidance for financial 2027 to ‘mid to high’ £30 million range, up from 14.0 million for the period. Outlook supported by recent contracts with Marshall Motor Group Ltd and Global Auto Holdings Ltd, and Seez App Holding Ltd acquisition. Expects FY25 underlying pretax profit to be in line with market expectations.
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CLS Holdings PLC - London-based commercial property investment company - Reports EPRA net tangible assets per share of 215.0 pence at December 31, down 15% from 253.0p a year prior, reflecting a 5.8% decline in portfolio valuation in local currencies. Pretax loss narrows to £97.4 million from £263.4 million, with net property revaluation losses easing to £127.7 million from £302.7 million. Revenue grows to £151.9 million from £148.7 million. Lowers full-year dividend to 5.28p per share from 7.95p, in line with a revised policy to fund value-adding investments and reduce leverage. Says commercial property market is nearing the bottom of the cycle, with stabilising valuations and increased leasing activity. Sees ‘increasing opportunities’ within portfolio and plans further disposals to recycle capital.
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Tectonic Gold PLC - mineral explorer in Australia and South Africa - Swings to a pretax loss of £235,042 for the six months ended December 31 from a £46,660 profit a year prior, as revenue drops to nil from £84,104. Administrative costs rise, with accounting and audit fees increasing to £66,960 from £45,400. Despite the wider loss, reports net income after tax of £74,531, helped by an income tax credit of £85,234 and a foreign exchange gain of £130,492. During the half, completed stage one of a farm-out deal with White Energy Company Ltd for its Specimen Hill project in Queensland, Australia. Tectonic retains a 3% net smelter royalty. Also said it plans to acquire Godolphin Exploration Ltd, focused on tin and copper in the UK.
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Red Rock Resources PLC - London-based mining company focused on Africa and Australia - Posts pretax loss of £1.5 million for the six months ended December 31, unchanged from a year earlier. Administrative expenses edge up to £623,000 from £585,000. Revenue remains nil. Finance expenses rise to £804,000 from £293,000. Says a long-awaited arbitration ruling relating to its copper-cobalt asset in the Democratic Republic of Congo is nearing publication and could have a ‘potentially large’ impact on the company’s value and operations. Adds that a prolonged delay or unfavourable outcome would put short-term finances under ‘significant strain’. Also in talks on a potential transaction relating to its Burkina Faso gold assets and sees progress on its royalty interest in Soma Gold’s Colombia project and equity in Elephant Oil’s West Africa operations.
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Inspirit Energy Holdings PLC - London-based developer of sustainable heat and power boilers - Posts pretax loss of £344,000 for the six months to December 31, widening from £149,000 a year prior. Loss driven by a £267,000 impairment on intangible assets. Administrative expenses decline to £77,000 from £149,000. Revenue remains at zero. Loss per share widens to 0.004 pence from 0.002p. Company became an AIM Rule 15 cash shell in October and has until April to complete a qualifying acquisition or face suspension. Says it has been approached by several organisations and is continuing to evaluate opportunities.
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Altona Rare Earths PLC - developing Monte Muambe magnet rare earths project in northwest Mozambique - Reports pretax loss of £512,000 for the six months to December 31, narrowing from £690,000 a year earlier. Revenue remains at nil. Loss per share improves to 0.33 pence from 0.83p. Administrative expenses fall to £440,000 from £616,000. Notes operational progress across portfolio, including mining licence approval for Monte Muambe in Mozambique and finalisation of agreement for Sesana copper-silver project in Botswana. Continues fluorspar testing and seeks strategic investor for Monte Muambe.
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Corcel PLC - Angola and Brazil-focused oil exploration and production firm - Reports pretax loss of £1.7 million for the six months ended December 31, widening from £1.3 million a year earlier. Revenue remains at nil. Diluted loss per share narrows to 0.05 pence from 0.09p. Administrative expenses fall slightly to £1.3 million from £1.4 million. Cash at period end stands at £222,000, up from £143,000. Notes increased stake to 49.5% in Angola KON-16 block, with eFTG survey completed and seismic planned. In Brazil, successful gas production workover at IRAI field completed in February. Raised £2.72 million post-period. Independent Non-Executive Chairman Pradeep Kabra says company is entering a ‘phase of execution and delivery.’
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