The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Chill Brands Group PLC - Grand Junction, Colorado-based cannabidiol products - In the year ended March 31, posts pretax loss of £5.6 million, widened from £4.8 million the year before. This derived from £664,000 worth of ‘obsolete inventory expense’, compared to none the year before. Revenue increases by 94% to £624,000 from £321,000 the year before. Says it is in ‘strong position to move forward as an agile consumer packaged goods competitor with many unique advantages.’
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Fragrant Prosperity Holdings Ltd - British Virgin Islands-based special purpose acquisition company - In the year ended March 31, pretax loss of £698,000, widened from £242,000 the year before because of costs incurred from the unsuccessful CiiTech Ltd acquisition and administrative expenses. The company reports no revenue and did not declare a dividend. It said that it continues ‘to review a number of potential acquisition opportunities across the sector’.
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Pineapple Power Corp. PLC - special purpose acquisition company - In six months to June 30, reports pretax loss of £187,000, narrowed from £239,000 in the same period last year. The company reports no revenue. The majority of its costs are incurred in legal and due diligence costs as it attempted to acquire BVP Investments Ltd. The acquisition was terminated in February. Says it will continue to diligently pursue an reverse takeover transaction and closing with the correct candidate.
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Narf Industries PLC - US-focused cybersecurity provider - In six months to June 30 reports a pretax loss of £168,000, narrowed from £1.2million the year before. While the company reports revenue of £991,000, up from none the year before, its operating expenses widen significantly to £3.9 million from £1.2 million the year before. Narf says it is ‘poised to become a market-leading supplier of cybersecurity products at a time when the need couldn’t be clearer.’
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Atlantic Lithium Ltd - lithium asset developer and producer focused in West Africa - Pretax loss in the year ended June 30 widens dramatically to A$34.7 million from A$4.6 million the year before. The company incurrs A$12.0 million worth in share-based payments and a further A$16.2 million as a write-down on the demerger of its gold exploration and evaluation assets. The company reports no revenue, unchanged from last year. It says it had ‘several landmarks on the horizon’ as it progresses the Ewoyaa Project towards production. It will also relinquish its remaining non-core tenure in Australia later in 2023.
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All Things Considered Group PLC - London-based music firm providing talent management, live booking and livestreaming - For the first half of 2022, records pretax loss of £172,000 in the six months to June 30, narrowed from £2.5 million the year before. Company’s cost of sales narrowed to £3.4 million from £6.0 million. The company’s revenue increases by 20% to £6.0 million from £5.0 million the year before. CEO Adam Driscoll says the results ‘demonstrate the resilience of our business model and market relevance of our full-service artist offering aligned to a rapidly changing music industry.’
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