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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Kropz PLC - African phosphate developer - Pretax loss in the first half 2022 widens to $60.9 million from $7.4 million a year before. Can be put down to a $44.7 million loss on the disposal of a subsidiary.
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Provexis PLC - Reading, England-based producer of heart-health functional food ingredient Fruitflow - Pretax loss in the first year to March 31 narrows to £299,132 from £361,803 the year before. Revenue falls 16% to £426,168 from £505,330. Explains the decrease in revenue with a fall from income received from its alliance agreement with DSM. Expects that the new gut microbiome patent application will have a strongly beneficial effect on current and future commercial prospects.
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Valereum PLC - Gibraltar-based blockchain technology - Pretax loss in the six months to June 30 widens to £1.0 million from £501,478 a year before, as administrative expenses jump to £1.0 million from £519,532. Records no revenue, slipping from £11,210. ‘We remain focused on establishing the Gibraltar Stock Exchange not only as one of the world’s first fully regulated exchanges crossing the digital divide, but also linking into markets not touched by other European exchanges,’ Chair Richard Poulden comments.
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Rurelec PLC - London-based power producer with operations in Latin America - Swings to a pretax profit of £697,000 in the first half of 2022 from a loss of £875,000 a year before. Attributes this to a foreign exchange gain of £1.2 million. ‘The board continues to pursue measures to unlock the inherit value of the company through selling or developing assets and managing cash receipts from the power generation plant in Argentina. We are conscious that the economic situation in Argentina remains challenging and we continue to monitor the impact on our operating asset there,’ Executive Director Andy Coveney says.
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Stranger Holdings PLC - London-based investment company intending to acquire a target company, business or asset in the industrial or service sector - Pretax loss for the year to March 31 widens to £602,000 from £432,000 the year before. Administrative expenses jump to £457,000 versus £344,000.
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Unigel Group PLC - Eastbourne, East Sussex-based manufacturer of thixotropic gels for the fibre optic cable industry - Expects revenue of £17.9 million for the first half of 2022, up 87% year-on-year. Anticipates a pretax profit of £940,000, up 94% on a year ago. ‘The directors are pleased with the growth achieved in the first half of 2022 which arose from a combination of higher selling prices, new product introduction and new customer acquisition. Management continue to optimise the manufacturing capability of the group and continue to improve its product range through its in-house research and development team,’ the company states.
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Hawkwing PLC - London-based cash shell - Pretax loss for the first half of 2022 widens to £547,000 from £190,000 a year before. Records finance costs of £938,000.
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Xeros Technology Group PLC - Rotherham, England-based environmental technology firm - In the six months to June 30, pretax loss widens to £4.2 million from £3.4 million. Administrative expenses jump to £4.2 million versus £3.6 million. Revenue falls to £40,000 from £341,000. Blame this on licensing revenue, which fell 92%.
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Kendrick Resources PLC - London-based exploration company - Pretax loss in the first half of 2022 widens to £184,700 from £169,362 a year before. Operating expenses jump to £173,828 versus £153,408. Records no revenue, unchanged from a year before. Plans to build a long-term energy metals business in Scandinavia to deliver energy metals to Europe to help enable its renewable energy transformation
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Thruvision Group PLC - Abingdon, England-based people-screening technology - For the year which ends March 31, pretax loss narrows to £1.9 million from £2.8 million a year before. Revenue rises 25% to £8.4 million from £6.7 million. Credits this to a strong performance, driven by significant growth in Profit Protection. Believes it is well positioned to deliver good growth.
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