The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Hydrogen Utopia International PLC, up 26% at 6.00 pence, 12-month range 3.50-6.00p. The company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials or distributed renewable heat reports a pretax loss of £766,835 in the six months ended June 30, widened from £583,878 the year prior. The widened loss comes as the company’s administrative expenses rise to £866,941 from £583,878. During the period, says it made an ‘unconventional decision’ to seek a revenue stream outside of its sector by taking an option to purchase 49% of Ohrid Organic, a company that specialises in cultivating medical cannabis. Says the option poses limited risk and would only be exercised if Ohrid meets its expectations. ‘I am confident that if we exercise the option, we will hopefully never be compelled to seek shareholders’ funds at heavily discounted rates, as we have witnessed in recent months with other companies. During the course of 2024, Ohrid Organics will primarily target sales in Israel, once EU GMP certification is received, Germany and the UK,’ explains Chief Executive Aleksandra Binkowska.
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Hostmore PLC, up 8.7% at 14.95 pence, 12-month range 10.80-25.00p. The TGI Fridays-owner reports pretax loss of £10.8 million in the 26 weeks ended July 2, narrowed from £17.1 million a year prior. Revenue slips to £93.6 million from £98.5 million but Hostmore takes a much smaller impairment of property, plant and equipment. Chief Executive Julie McEwan says the initiatives taken in the first half of 2023 have built a ‘leaner and more focused’ company, with the effects of these actions coming through as the firm moves into the second half of its financial year. Notes that like-for-like revenue in the second half so far is up 2% against the comparable period a year prior.
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SMALL-CAP - LOSERS
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MetalNRG PLC, down 12% at 0.064 pence, 12-month range 0.0058-0.14p. The natural resources and energy-focused investor reports an operating loss before tax of £543,267 in the first half of 2023, narrowed from a loss of £999,949 a year prior, as administrative expenses are reduced by 46%. Says that, having addressed most of its legal issues, it can now concentrate on operational matters. Says there are only two legal processes outstanding currently. Adds that its strategic business review has been completed. Confirms its decision to concentrate growth and value creation efforts on the mining sector. ‘The initial focus will include gold and copper projects, alongside other precious and strategic metals, which face high demand due to global macroeconomic, energy transition, and technology trends,’ MetalNRG says. Adds that it has also identified a number of potential reverse takeover targets.
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Critical Mineral Resources PLC, down 6.7% at 3.50 pence, 12-month range 2.00-7.00p. The clean energy commodities-focused exploration and development company reports a pretax loss of £440,340 in the six months ended June 31, narrowed from a loss of £658,230 a year previous. Loss narrows as the company’s administrative expenses reduce to £439,151 from £658,217 and its loss from discontinued operations reduces to £36,988 from £733,126. Company adds that during its half-year it completed a strategic review of the business, determining that it would continue to take opportunities arising from and aligned to supporting the European electric vehicle supply chain and its compliance with increasing global legislation. Identifies Morocco as a target jurisdiction.
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