The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Afentra PLC - upstream operator in Africa with carried interest in Odewayne block onshore southwestern Somaliland - Pretax loss widens as makes no revenue but is optimistic for future. In the half year to June 30 pretax loss widens to $2.9 million from $2.4 million a year prior. Posts no revenue in either period. ‘To support our business development activities, we continue to engage with both debt and equity capital markets to ensure we have supportive investors and access to capital for any deals we bring to market. We look forward to demonstrating the true value accretive nature of these initial transactions as we complete them both in the coming months and begin working with the operator and joint venture partners to optimise production, enhance environmental performance and realise the material upside value from these licences,’ states Chief Executive Officer Paul McDade.
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Alien Metals Ltd - mineral exploration in Australia, Mexico and Greenland - Touts progress at ‘various projects’ as makes no revenue yet. Pretax loss in half-year to June 30 widens to $1.4 million from $814,000 a year prior. Reports no revenue in either period. Looking ahead, company says it ‘is looking forward to further advancing its existing portfolio of prospective silver and copper/gold projects in Mexico and silver and iron ore projects in Australia, as well as seeking joint venture opportunities. Reviews are ongoing for adding projects to the company portfolio and finding partners for existing projects to support future work and development.’
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Crimson Tide PLC - Kent, England-based mobile software firm - Cites ‘promising’ outlook while swings to an interim loss. Pretax loss in the half-year to June 30 stands at £860,000, versus a profit of £286,000 a year ago. Revenue grows 15% to £2.3 million from £2.0 million. However, operating expenses widen by 86% to £2.3 million from £1.2 million. ‘The outlook is extremely promising. A focused organisation with a unique product and service combination, a strong pipeline and visibility of revenue means we can be confident about reaching our targets and longer-term ambitions,’ says CEO Jacqueline Daniell.
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Location Sciences Group PLC - London-based location data verification firm - Pretax loss in the six months to June 30 narrows to £492,353 from £527,237 a year prior. Revenue jumps to £145,430 from £50,968. Looking ahead, Chair Simon Wilkinson says: ‘The board continues to review how best to maximise the value of the company’s assets and will update shareholders in due course.’
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North American Income Trust PLC - invests predominantly in S&P500 equities - Net asset value per share rises 2.6% to 327.18 pence at July 31 from 318.79p at January 31. Interim NAV total return of 5.5% outperforms its benchmark, Russell 1000 Value Index, which posted a total return of 4.9%. Declares interim dividend of 5.00p per share, up 32% from 3.80p a year ago. States that business in US was very positive, but notes ‘several’ headwinds, such as Russia’s war against Ukraine ‘and questions over the ability of central banks globally to strike the right balance between bringing inflation under control and stymying economic growth.’
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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Pretax loss in the six months to June 30 widens to £201,526 from £144,677 a year prior. Revenue nearly doubles to £76,071 from £39,184. Administrative expenses widen to £237,535 from £160,515. Commenting on a ‘trend’ of customers buying small luxuries instead of very large purchases, company says: ‘This trend is in line with the brands for which we have exclusive licences, and we expect to see this to continue into 2023.’
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