The following is a round-up of earnings of London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
ASA International Group PLC - Weybridge, Surrey-based microfinance lender - Pretax profit in the first half of 2023 falls to $13.8 million from $46.3 million a year earlier. Number of branches increases to 2,073 from 2,028, while number of clients as at June 30 declines to 2.2 million from 2.3 million. Says lower profit partly due to lower recovery of overdue loans in India. Raises expected credit losses charge to $2.8 million from $1.9 million a year prior. Looking ahead, expects improvement in the second half but eyes 2023 net profit to be lower than 2022. Further, giving an August update, says gross outstanding loan portfolio fell annually by 5% to $352 million.
----------
GENinCode PLC - biotechnology company focused on prevention of cardiovascular disease - In the first half of 2023, pretax loss widens to £3.5 million from £2.3 million year prior. Revenue rises 43% to £950,000 from £664,000. Administrative expenses however increase 50% to £3.8 million from £2.6 million. Cash reserves as at June 30 fall annually to £5.2 million from £12.4 million. Chief Executive Officer Matthew Walls says: ‘Growing test demand from UK and EU markets and the launch of the US Early Access Program has begun to strengthen business revenues and our forecast growth outlook. We are working closely with our US partner institutions on commercial scale-up and delivery of our Early Access Programs to generate our first US revenues whilst progressing our CIC SCORE 510k medical device pre-market submission in readiness for approval.’
----------
HydrogenOne Capital Growth PLC - London-based hydrogen technology investment fund - Net asset value per share as at June 30 grows to 100.70 pence from 97.31p as at December 31, citing clean hydrogen opportunities. NAV total return is 3.5%. Chair Simon Hogan says: ‘The board and company is committed to the aim of the company that seeks to generate NAV returns of 10-15% over time, including proceeds from exits, whilst investing in clean hydrogen for a climate positive impact.’ Looking ahead, he says: ‘Overall, despite the uncertainty of the current economic environment, the board remains confident that the company is investing in a sector with a favourable outlook and believes in its growth potential as illustrated by the strength of our current pipeline of private clean hydrogen investments.’
----------
Mycelx Technologies Corp - Georgia, US-based clean water and air technology company - Reports pretax loss of $1.3 million, narrowed from $2.7 million a year prior. Revenue climbs to $5.6 million from $3.7 million. However, cost of goods sold increases to $3.1 million from $2.3 million. Looking ahead, Chair Tom Lamb and Chief Executive Officer Connie Mixon say: ‘The momentum shown in the first half from each of our three core markets has been maintained into the current period and we are confident that this will continue for the forseeable future. The PFAS remediation market is large and will continue for years to come. Regulations continue to get more stringent, and more sites will be identified over time. In the short and medium term our goal is to both win new contracts and to acquire solid data through trials with significant longevity, building relationships with strategic partners and direct customers that will accelerate uptake of our PFAS solution.’
----------
Prospex Energy PLC - Europe-focused gas and power project investor - In the six months to June 30, turns to loss of £1.0 million from a profit of £7.0 million a year prior. Reports loss on revaluation of investments and loans of £489,037 compared to a gain of £7.6 million a year earlier. Looking ahead, Chair Bill Smith says: ‘The board and management continues to focus on developing and growing the company’s portfolio of assets and income streams, both by increasing the productivity and profitability of existing assets, and through active search and investigation of new investment opportunities which meet the company’s discerning investment criteria.’
----------
Tavistock Investments PLC - Bracknell, England-based investment manager - In the financial year to March 31, turns to pretax loss of £1.6 million from profit of £30.0 million a year prior. Revenue is virtually unchanged. However, company had a one-off gain from the sale of subsidiary Tavistock Wealth of £35.8 million in financial 2022. Looking ahead, Chair Oliver Cooke says company is now ready to operate ‘on a much larger scale’ and is on the next phase of its growth plan.
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
