The following is a round-up of earnings of London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Belluscura PLC - Medical device developer focused on lightweight and portable oxygen enrichment technology - Reports pretax loss of $8.2 million for 2022, widened from $5.2 million in 2021. Revenue grows to $1.5 million from $420,000. Net cash at December 31 is down to $2.0 million from $15.9 million. Looking ahead, Chief Executive Officer Robert Rauker says trading in the first half of 2023 was in line with its expectations for all of 2023, with a significant second-half weighting anticipated. Starts pre-market launch of Discov-R, a portable oxygen concentrator. Notes progress on the CE and UKCA registration mark application for the X-Plor POC in the EU and UK by conducting a patient usability study. Says registration of X-Plor in China is progressing after the registration of its subsidiary Shenzhen Belluscura Technology Co Ltd.
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BSF Enterprise PLC - London-based investor in biotechnology and owner of cellular agriculture company 3D Bio-Tissues - For the six months that ended March 31, pretax loss widens to £649,059 from £291,553 a year prior. Administrative expenses balloon to £728,435 from £291,533. CEO Che Connon says the most recent half-year ‘has been one of significant progress on both technical and commercial fronts. Technical milestones have included us producing the UK’s first 100% cultivated steak, an enormous step forward for our industry, as well as skin products thick enough to be used to make leather goods.’ Looking ahead, Connon says BSF Enterprise has a strong balance sheet, which will help its growth strategy.
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Civitas Social Housing PLC - Exeter, England-based real estate investment trust - Net asset value as at March 31 at financial year 2023 end falls 1.0% to 109.16 pence per share from 110.30p a year prior. Net rental income grows 3.9% to £52.7 million from £50.7 million. Dividend per share increased by 2.7% to 5.70p from 5.55p. Looking ahead, Chair Michael Wrobel says demand for the type of properties within its portfolio ‘remains strong with independent forecasts predicting that there will be continued growth for many years to come in the need for additional units of adapted accommodation.’
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CloudCoCo Group PLC - London-based IT and communications for businesses and public sector - Pretax loss in six months ended March 31 narrows to £1.2 million from £1.5 million, as revenue climbs to £12.9 million from £11.6 million. Cost of sales increase to £8.6 million from £7.8 million. For second half of financial year, Chief Executive Officer Mark Halpin says trading has been encouraging despite wider economic headwinds. He adds: ‘We expect to see the benefits of our investments into sales and marketing begin to increase. We are maintaining our focus on driving cost savings and efficiencies and expect to see the results of the hard work carried out in the first half have a positive impact on the bottom line at the full year. To help us reach our goals faster, we are continuing to assess opportunities to acquire complementary businesses we feel are a good strategic fit.’
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Jangada Mines PLC - London-based miner focused on Brazil - Pretax loss in 2022 is $936,000, swung from a profit of $92,000 in 2021. Reports loss on fair value of investment of $270,000 compared to a gain of $340,000. Profit on disposal of investment plummets to $68,000 from $1.7 million. Looking ahead, Jangada expects that it will have enough resources to meets it capital requirements for the foreseeable future.
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Oracle Power PLC - London-based, Pakistan-focused energy projects developer - Pretax loss in 2022 is £1.3 million, widened from £881,879 in 2021. Generates no revenue yet. CEO Naheed Memon says the company expects results from a thyssenkrupp AG feasibility study for green hydrogen and green ammonia during 2023.
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Verditek PLC - London-based technology company that develops, manufactures and sells lightweight solar panels - Reports pretax loss of £1.9 million for 2022, widened from £1.1 million in 2021. Revenue multiplies to £417,457 from £107,632. Administrative expenses increase to £1.7 million from £1.5 million. Direct costs widen to £670,547 from £609,213. Looking ahead, Chair David Willetts says: ‘The near-term outlook for clean technology in general and Verditek in particular is very positive. The group has seen a growing number of enquiries and pilot projects towards the end of the year and in early 2023, which point to promising signs of commercial growth for 2023.’
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