The following is a round-up of earnings updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Great Southern Copper PLC - copper-gold exploration company focused in Chile - In the financial year that ended March 31, pretax loss widens to £1.3 million from £1.0 million a year earlier, both years made up entirely of administrative expenses as it focuses on progressing its Especularita and San Lorenzo projects in Chile. Chief Executive Officer Sam Garrett says: ‘The discovery of an intrusive-related copper-gold system at San Lorenzo, as well as high-grade copper-gold prospects at Especularita, has established a strong platform for the company to build from in the future. The green transition has underscored the importance of key strategic minerals such as copper, and this continuing trend is expected to bolster demand, particularly in light of the supply shortages foreshadowing this transition. Our exploration work over the past year has highlighted the significant potential of our projects, and the board looks forward to advancing with exploration campaigns to further understand the numerous promising targets identified at our two projects.’
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Walker Crips Group PLC - London-based stockbroker and asset manager - In the financial year that ended March 31, pretax profit mutliplies to £632,000 from £206,000 a year earlier. Revenue falls to £31.6 million from £32.8 million, while commissions and fees paid falls to £7.3 million from £9.1 million. Declares final dividend of 0.25 pence, up from 1.20p. Chair Martin Wright says: ‘Although pleasing to report a year-on-year improvement in IFRS profitability, the underlying business has experienced reduced trading commissions, lower management fees, and increased costs in the challenging and uncertain economic conditions we faced during the year. We continue to focus on investing in our people and technology to drive the key initiatives that improve our working environment, customer service and ultimately operating margins and profitability, including fully embracing regulatory change and preparations for the new consumer duty regulation.’
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Rockpool Acquisitions PLC - Special purpose acquisition company formed to acquire Northern Irish-based engineering and manufacturing holding company Amcomri Group Ltd - In the financial year that ended March 31, swings to pretax loss of £297,089 from a profit of £56,654, as administrative expenses multiply to £296,411 from £36,011. Posts no ‘other income’ from £65,381, while it also posts no financial income from £99.405 a year earlier. Non-Executive Chair Richard Beresford says: ‘I look forward to a positive year ahead which will hopefully see the completion of the Amcomri acquisition, a return to trading of the company’s shares and, with that, the completion of the first key period of the company’s existence.’
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More Acquisitions PLC - special purpose acquisition company - In the six months that ended April 30, operating loss and pretax loss is £360,481. In comparison, in the 13 months that ended October 31 since it incorporated as a company, operating loss was £113,639. It is yet to post a revenue. Says the search for a suitable acquisition target resumed following the withdrawal of Megasteel Ltd from the proposed reverse takeover. Chair Charles Goodfellow says: ‘The company continues to search for an acquisition target and will be providing further updates concerning the acquisition search process in due course.’
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Amala Foods PLC - cash shell - In the financial year that ended March 31, pretax loss narrows to £440,076 from £1.1 million a year earlier. Posts no revenue again, while various expenses fall: administrative expenses down to £269,967 from £357,656; does not post an impairment expense from £204,656 a year earlier; share-based payments down to £16,441 from £332,232. Chair Jonathan Morley-Kirk says: ‘The directors are actively seeking to identify new opportunities for the company with a view to identifying and completing a successful transaction resulting in a reverse takeover.’
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Semper Fortis Esports PLC - London-based professional e-sports team operator - In the financial year that ended January 31, pretax loss narrows to £578,309 from £1.2 million a year earlier. Revenue multiplies to £100,977 from £31,629, while operating and administrative expenses halve to £679,286 from £1.3 million. Chair Keith Harris says: ‘In the prior year financial statements we advised that despite growth in the sector, monetisation had remained a key challenge for all esports organisations globally and that due to economic uncertainty and difficult capital market conditions, the company intended to significantly reduce its overheads and conserve cash. This is exactly what we have done. We chose not to renew the contracts of our esports talent and reduced other overheads where we could, whilst looking at various different strategies for the company.
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