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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Kanabo Group PLC - Tel Aviv-based medical cannabis company - Pretax loss for the first half of 2022 widens to £2.9 million from £2.4 million a year before. General and administration increase to £2.2 million from £888,000. Revenue multiplies to £239,000 from £15,000 a year before. Attributes this to the acquisition of GBP Services Ltd. Aims for another period of operational and financial growth. ‘The first half of 2022 was an extremely busy and productive period for the Company. Most importantly, the integration of GPS has gone according to plan, and I wish to give my thanks to all the staff at GPS for their assistance on making this as seamless as possible,’ CEO Avihu Tamir comments.
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Microsaic Systems PLC - Surrey-based mass spectrometry equipment - Pretax loss in the six months to June 30 narrows to £823,957 from £2.1 million a year before. Revenue rises 47% to £734,914 from £499,285. ‘The change in business strategy which began in 2021 has carried through to 2022. The result of which can be seen in the increased revenues and gross profit which have led to reduced losses,’ Acting Chair Gerry Brandon comments. Expects the solid sales momentum to continue through the second half.
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Bezant Resources PLC - copper-gold project developer - In the first half, pretax loss narrows to £348,000 from £510,000 a year before. Share-based payments fall to £29,000 versus £160,000. Records no revenue, unchanged from the comparable period. Feels ‘very confident’ with the underlying quality of its project portfolio in copper, gold and battery manganese.
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LoopUp Group PLC - London-based software provider for remote meetings - Pretax loss in the first half of 2022 widens to £7.1 million from £4.4 million a year ago. Revenue falls to £6.6 million from £11.5 million. Expects Meetings business to return back to growth in second half and 2023. Remains excited about the growth potential of its Cloud Telephony solution.
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Artemis Resources Ltd - Perth-based miner with gold, copper and cobalt projects in Australia - In the first half of 2022, pretax loss narrows to $7.5 million versus $10.5 million, year-on-year. Project and exploration expenditure write-off costs drop to $4.7 million from $7.1 million. Revenue falls to $33.4 million from $133,815. Notes a ‘very challenging setting of Covid restrictions,’ acute industry-wide personnel and rig shortages and extensive assay turnaround times. Continues to focus on its core projects, the Paterson Central gold and copper project and the Carlow Castle gold.
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Borders & Southern Petroleum PLC - London-based independent oil and gas exploration - Pretax loss for the half-year to June 30 widens to $857,000 from $446,000 as administrative expenses jump to $747,000 versus $546,000. Finance cost soar to $110,000 versus $1,000. Records no revenue, unchanged from a year before.
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Fox Marble Holdings PLC - focused on marble quarrying and finishing in Kosovo and the Balkans region - Pretax loss in the first half of 2022 widens to €825,000 from €683,000. Revenue rises to €272,000 versus €196,000, as revenue from the sale of processed marble product increases. Agrees heads of terms for the proposed acquisition of Eco Buildings Group Ltd and notes that it would constitute a reverse takeover.
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Eden Research PLC - Oxfordshire-based sustainable crop protection and animal health firm - Pretax loss in the six months to June 30 narrows to £1.3 million from $1.8 million a year prior. Revenue rises 32% to £1.0 million versus £785,294, as product sales increased 51%.
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