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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ActiveOps PLC - Reading, England-based management software firm - Pretax loss for the six months to September 30 narrows to £606,000 from £991,000 a year before. Revenue grows 7% to £12.3 million versus £11.5 million. Attributes this to new customer wins and ‘substantial expansion deals,’ resulting in substantial growth in SaaS revenue. Remains optimistic about the future due to expansion deals on the horizon and an expanding product offering.
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First Property Group PLC - London-based property fund manager and investor - Pretax profit in the six months to September 30 falls 64% to £2.4 million from £6.7 million. The profit last year was flattered by a loan restructuring, it explains. Revenue grows to £4.2 million versus £4.0 million. Maintains an interim dividend of 0.25 pence per share. ‘There is bound to be a period of weakness, but things should settle during 2023 as long as there are no other shocks to the system. In time, higher inflation should result in rents increasing across the board, though a recession may slow down this adjustment,’ Chief Executive Ben Habib comments.
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Eco Atlantic Oil & Gas Ltd - Toronto-based oil and gas exploration company - Reports net loss of $16.5 million for the six months to September 30, widened from $1.2 million a year before, as total operating expenses jump to $17.3 million from $1.4 million. Interest income multiplies to $56,452 from £8,435. Expects to have roughly $17.5 million cash and cash equivalents at the end of November 2022, following receipt of the initial proceeds from the sale of the Kozani project in the coming days. ‘We remain highly optimistic about the potential contained within the Orinduik Block, and we are working with our JV partners to drill another well as quickly as possible. Guyana remains one of the most exciting exploration hotspots, alongside Orange Basin SA and Namibia, where we also hold a highly strategic acreage position, and we are working hard to deliver value for all our stakeholders across our asset portfolio in the near to medium term,’ President & CEO Gil Holzman comments.
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Karelian Diamond Resources PLC - Dublin-based diamond explorer - Swings to a pretax profit of €13,593 in the financial year that ended May 31 from a loss at €422,192 the year prior. The profit was generated as a result of the movement in fair value of warrants totalling €389,904, it explains. Looks forward to receiving the necessary land valuation decisions in addition to the planned diamond exploration work in Finland.
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Atrato Onsite Energy PLC - London-based renewable energy investment trust - Net asset value per share stands at 92.8 pence as at September 30, down versus 97.4 pence as at March 31. Share price on the same date falls to 99.5 pence from 112.5 pence. Declares a dividend of 3.01p, in line with its target set out at the IPO. Deploys £49 million into a diversified portfolio of solar photovoltaic systems during the period. ‘Our investments support the UK’s net zero agenda whilst delivering progressive dividend income and long-term opportunities for capital growth. We are encouraged and feel confident in the position we have built for onsite solar in the UK,’ Chair Juliet Davenport comments.
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Inqo Investments Ltd - South Africa-focused investment firm - Pretax loss in the half-year period to August 31 widens to R 5.2 million, or £255,916, from R 5.8 million a year before, as selling & administrative expenses to R 3.8 million from R 2.4 million. Revenue multiplies to R 3.4 million from R 607,688. Says that it remains in a good financial position with total assets of R 147.5 million and minimal debt.
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Puma VCT 13 PLC - venture capital trust - Net asset value as at August 31 stands at 136.33 pence, up from 129.84p the year before. This can be attributed to an upward revaluation across the majority of holdings, it explains. Records a return of 2.42p per share.
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Conroy Gold & Natural Resources PLC - Dublin-based gold exploration and development focused on Ireland and Finland - Swings to a pretax loss of £256,484 from a profit of £211,010 in the year which ended May 31. Operating expenses rise to £832,340 versus £752,619. Records no revenue in the period, unchanged from a year before. ‘Overall, we have made excellent progress in the last year and we will look to accelerate the pace of the work programme in the current year,’ Chair Richard Conroy comments.
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