The following is a round-up of earning and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Ebiquity PLC - London-based media and marketing consultancy - Swings to pretax profit in the first half of 2023 of £1.4 million, from a loss of £1.4 million a year prior. Revenue climbs 11% to £40.6 million from £36.7 million. Declares no dividend, unchanged. On the company’s outlook, Chief Executive Officer Nick Waters says: ‘While we are seeing some major customers cutting budgets as a result of prevailing market conditions and trends, Ebiquity continues to trade broadly in line with expectations. Looking further ahead, as the market leader we remain well positioned to help our clients and see further opportunities for revenue growth and margin enhancement.’
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Hydrogen Utopia International PLC - London-based operator of facilities that turn non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials, or distributed renewable heat - In the first half of 2023, pretax loss widens to £766,836 from £583,874 a year prior. Posts no revenue in either half-year. Says outlook remains ‘very’ positive, cites high degree of confidence in executing strategy.
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Provexis PLC - Reading, England-based producer of heart-health functional food ingredient Fruitflow - In the financial year to March 31, pretax loss widens to £419,916 from £299,132 a year prior. Revenue falls to £389,916 from £426,168. Cost of goods sold increases to £95,497 from £46,119. Looking ahead, Chair Dawson Buck and CEO Ian Ford say board is ‘strongly positive about the outlook for Fruitflow and the Provexis business for the coming year and beyond.’
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RegTech Open Project PLC - technology business focused on automation and optimisation of regulatory compliance operations - Announces results for period from March 10 to June 30. Reports £50,000 worth of assets as at June 30. Notes 50% annual growth on invoiced basis to £588,000 in the first half of 2023 from £391,000 a year prior. Reports no profit or loss, revenue, or costs. Company listed on the main market of the London Stock exchange on August 25. Confirms that Paul McFadden will be chief financial officer from December 5. Further, enters into side letter agreement cast as a deed, with RegTech Open Project SpA, ultimately owned by RegTech Open Project PLC founder Alessandro Zamboni. Notes that since completion of direct listing, a total of £2.5 million funds have been drawn under English law.
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SDX Energy PLC - London-based energy company, with portfolio of exploration, development and production assets in Egypt and Morocco - Swings to pretax loss in the six months to June 30, of $397,000, from a profit of $1.9 million a year prior. Revenue net of royalties falls 32% to $15.3 million from $22.3 million. Direct operating expense increases 17% to $5.1 million from $4.4 million. Looking ahead, cites planned workover of Egypt-based Rabul Deep-1 well, to convert it to a water-injector for the Rabul field.
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TechFinancials Inc - purely investment entity since 2022 after closing operating entities in Israel - Pretax loss in the first half of 2023 narrows to $73,000 from $163,000 a year prior. Posts no revenue in either half-year. Looking ahead, Chair Eitan Yanuv says: ‘We will continue to look for opportunities to materialize our assets or join forces with other companies in order to be able move forward.’
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Verici Dx PLC - Cardiff, Wales-based developer of clinical diagnostics for organ transplants - Pretax loss in the first half of 2023 narrows to $5.3 million from $5.5 million prior. Reports $19,000 revenue compared to none a year ago. Looking ahead, Verici is focused on speeding up the commercial roll-out of Tutivia, Chief Executive Sara Barrington says. Tutivia is a single test that uses RNA signature technology to assist in improving a patient’s personalised post-kidney transplant care.
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