The following is a round-up of earnings of London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Biome Technologies PLC - Southampton, England-based bioplastics and radio frequency technology company - For the six months ended June 30, reports pretax loss of £1.1 million, widened from £667,000 a year prior. Meanwhile, revenue rises 47% to £3.6 million from £2.4 million. Highlights that Bioplastics revenue was up 50% to £3.1 million, from £2 million year-on-year. Adds that the division was the principal revenue generator during the half, and saw good demand from both new and existing customers, particularly in North America. Administrative expenses rise to £2.0 million from £1.7 million the previous year. Basic loss per share widens to 28 pence, from 17p. Looking ahead, Biome expects revenue for the second half to continue at a similar rate to that experienced in the second quarter. However, notes that ‘adverse exchange rates and the phasing of revenue from RF Technologies into 2024 will provide some pressure at the operating profit level and the board’s outlook for the group’s trading performance in 2023 is broadly in-line with current market expectations’.
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RiverFort Global Opportunities PLC - Wycombe-based investment adviser - Posts net asset value per share at June 30 of 1.30p, down 3.7% from 1.35p at December 31. For the six months to June 30, investment income was £215,035, down from £417,476 on-year. While RiverFort’s overall net asset position reduced slightly during the period, it says that a decrease in the value of the Pires investment was partially offset by the increase in the value of the company’s holding in Smarttech247. Similarly, lower investment income was offset by administration and advisory costs. RiverFort maintains that it has continued to grow its cash balance during the period and is now ‘well positioned to focus on making new investments as attractive opportunities arise’.
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Pennant International Group PLC - Cheltenham, England-based provider of training technologies and product support for the defence, aerospace and other industries - For the six months ended June 30, reports revenue of £7.1 million, up from £6.9 million year-on-year. Notes that 46% of revenue is generated from software licensing and associated activities, compared to 52% last year. Pretax loss narows to £4375,000 from £810,000, while earnings before interest, tax, depreciation and amortisation rise to £800,000 from £400,000 a year prior. Notes good progress on the £9 million Boeing Defence UK Apache upgrade programme, which is running ‘on time and on budget’, with final deliveries scheduled for completion in September 2024. Also highlights acquisition of Track Access Productions Ltd in April 2023, which it says broadens Pennant’s existing rail offering and customer base, and adds around £300,000 of subscription-based recurring revenue.
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Firering Strategic Minerals PLC - Abidjan, Ivory Coast-based exploration company - For the six months ended June 30, reports pretax loss of €602,000, widened from loss of €517,000 a year prior. General and administrative expenses increase to €564,000 from €415,000 the previous year. Post-period, Firering completes an oversubscribed placing raising £756,000 to support further definition of identified pegmatite targets with around 5,000 metres auger drilling campaign at Atex. Chief Executive Yuval Cohen says: ‘Our strategy has always been to increase shareholder value through the continued exploration of our flagship asset, Atex. To this end, and with the support of our JV partner, Ricca Resources, we spent a significant amount of time in the field since the start of 2023...After the period, and supported by the positive results from part one of the Phase II auger drilling campaign, we announced our intention to start a 3,000 metre RC drilling campaign at Atex, which we believe has the potential to become a significant lithium producer in [Ivory Coast].’
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Amicorp FS (UK) PLC - Financial services division of Hong Kong-based Amicorp Ltd that provides services to ‘start-up’ asset managers - For the six months ended June 30, posts revenue of $7.1 million, up 3.1% from $6.9 million a year prior. Pretax profit fell 63% to $1.0 million from $2.8 million, decreasing as operating expenses increased to $403,000 from $230,000, and IPO expenses rose to $1.2 million from $502,000 the previous year. Amicorp listed on the Main Market of the London Stock Exchange on June 8, alongside a placing of new ordinary shares raising $6.5 million before expenses, and a placing of existing ordinary shares of $9.7 million. Non-Executive Chair Toine Knipping says: ‘Following our successful listing on the Main Market of the London Stock Exchange in June this year, the business has continued to perform well both operationally and financially, on the back of strong organic growth and further diversification, evidenced by the improvement in the Assurance and Governance Services part of the business.’
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NARF Industries PLC - London-based cybersecurity group which specialises in high-end threat intelligence and critical infrastructure security - For the six months ended June 30, reports contract revenue of $3.3 million versus $1.4 million a year prior. Pretax loss was $144,200, substantially narrowing from $16.6 million the previous year. Looking ahead, NARF says it expects full-year revenue to be at least $5.8 million. Executive Chair John Herring says: ‘This will be achieved through the growth we are experiencing in both our Government Solutions and Services and Government Research & Development business...This performance and growth are driven and sustained responsibly through internal cash generation and current credit facilities and is being achieved, in part, by our CEO Steve Bassi working to instil a culture of accountability, ambition and diligence throughout the organisation.’
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Roquefort Therapeutics PLC - London-based biotechnology company focused on developing medicines for hard-to-treat cancers - For the six months to June 30, reports pretax loss of £937,436, widened from £762,281 a year prior. This came as administrative expenses increased to £765,611 from £485,530 for the same period a year ago. Meanwhile, revenue totalled £200,000, against none a year prior. Looking ahead, Roquefort says it is on course with targets for clinical readiness for one of its development programmes during the second half. Says its strategic goal is to take advantage of the paradigm shift that 90% of successful biotech programs are acquired by big pharma.
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