The following is a round-up of updates by London-listed companies, issued on Wednesday and Friday and not separately reported by Alliance News:
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GreenX Metals Ltd - developing Arctic Rift copper project in Greenland - Pretax loss for the year which ended June 30, widens to $3.7 million from $879,388 the year before. Revenue falls to $261,543 from $297,875.
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Challenger Energy Group PLC - Caribbean and Atlantic-margin focused oil and gas company - Records an annual pretax loss of £23.7 million in 2021, widened from $14.0 million, year-on-year. Revenue jumps to $4.4 million from $1.4 million in 2020.
Swings to a pretax profit of $4.3 million in the first half of 2022 from a loss of $11.8 million. Revenue grows to $2.7 million from $2.3 million a year before.
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European Smaller Cos Trust PLC - Investment company - Net asset value per share as at June 30 stands at 162.76 pence, versus 209.71p on the same date a year prior. Records a total NAV return of negative 21% for the year, underperforming its benchmark, the Euromoney Smaller European Companies Index, which returned 17%. ‘European equity markets have faced several rapidly evolving challenges this year including the resurgence of inflation to multi-decade highs that has driven a tightening monetary policy after the fiscal and monetary excess experienced over the course of the pandemic. The Russian invasion of Ukraine, which has resulted in dislocated energy supplies, has greatly compounded an underlying trend of upward pressure on prices,’ the company explains. Declares a final dividend of 3.10p per ordinary share. Confident its core valuation disciplines will bear fruit in ‘such an environment.’
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Sovereign Metals Ltd - Perth, Scotland-based rutile exploration and development company focused in Malawi - Pretax loss for the year to June 30 widens to $13.7 million from $5.1 million the year before. Records no revenue in the period, unchanged from a year before. Plans to focus on the exploration of the Kasiya project in Malawi.
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Schroder UK Public Private Trust PLC - formerly Woodford Patient Capital Trust, invests in both listed and private UK companies - NAV as at June 30 stands at 32.80 pence, down 32% from 48.08 pence as at December 31. Share price discount to NAV per share widens to 35.5% from 31.2% during the period. Attributes this to weakness in its public market holdings in a very challenging period for equity markets. Believes it is well placed to produce long-term growth in future.
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Block Energy PLC - London-based oil and gas company focused in Georgia - Swings to a pretax profit of $627,000 in the half-year to June 30 from a loss of $2.1 million a year ago. Revenue jumps to $4.6 million versus $2.7 million. Credits growth to good production performance, robust capital discipline and higher oil prices.
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Trackwise Designs PLC - Tewkesbury, Gloucestershire-based products using printed circuit technology - Pretax loss in the first half of 2022 widens to £2.1 million from £611,000 a year ago. Revenue falls to £3.8 million from $4.1 million. Experiences delays from its EV OEM that were highly disruptive to its business. Explores longer-term strategic investment partnerships in order to support development and conversion of its ‘very significant pipeline of identified IHT sales opportunities.’
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Scirocco Energy PLC - Leeds, England-based oil & gas investment company - In the six months to June 30, it swings to a pretax loss to £542,000 from a profit of £1.8 million a year before. Fair value through profit falls to £27,000 from £2.9 million.
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