The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:
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Verditek PLC - London-based solar panel producer - Revenue in the first half of 2023 rises to £254,958 from £178,502 a year earlier. However, pretax loss widens to £970,989 from £636,798. Direct costs increase to £319,233 from £256,953 and administrative expenses jump to £881,218 from £666,030. Looking ahead, Chief Executive Rob Richards says: ‘Despite recent challenges, we continue to see positive opportunities develop for Verditek and believe the significant investment into the development of our flexible, lightweight solar panels will bring about meaningful financial reward.’
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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Revenue in the first half of 2023 falls to £61,198 from £76,071 a year ago. Pretax loss widens slightly to £204,256 from £201,526. Looking ahead, says it remains ‘optimistic’ about future and identifying new growth opportunities. Chair Nelson Law says: ‘The group’s focus on expanding its presence in the e-commerce sector in China has been a key priority. Significant resources have been allocated to this endeavour, recognizing the vast potential of this market. In addition to the existing presence on Tmall, the group is actively working to collaborate with other platforms, aiming to reach a wider customer base and increase market share in online retail.’
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Empire Metals Ltd - London-based minerals explorer and developer - Operating loss in the six months ended June 30 widens to £1.0 from £565,626 a year ago. Pretax loss widens to £1.0 million from £588,808. Says that 2023 has been a ‘remarkable’ year so far. Chair Neil O’Brien explains: ‘This performance can be attributed to what we believe is one of the most exceptional mining discoveries of recent years; a giant titanium-enriched mineral system at our Pitfield Project in Western Australia.’
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Adalan Ventures PLC - Russia-focused fintech company, formerly known as Zaim Credit Systems PLC - Pretax loss in the first half of 2023 narrows to £10,000 from £125,000 a year ago. Administrative expenses fall to £10,000 from £180,000.
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Eden Research PLC - Oxfordshire, England-based company focused on sustainable biopesticides and plastic-free formulation technology - Revenue in the first half of 2023 rises to £1.1 million from £1.0 million a year earlier. Pretax loss widens to £6.2 million from £1.3 million. Notes an impairment on intangible assets of £5.0 million, versus no impairment a year ago. Says impairment had arisen ‘primarily due to an increase in the discount rate used and increased forecast development costs.’ Looking ahead, Eden says it is on track to meet 2023 market expectations for product sales revenue and Ebitda.
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TruSpine Technologies PLC - London Gatwick Airport-based medical device company - Operating loss in the year ended March 29 narrows to £845,818 from £937,641 a year earlier. Pretax loss narrows to £853,461 from £940,806. The company says it continues to be in a pre-revenue development phase and remains loss making at this stage of its development. Adds that it continues to carefully manage its working capital position.
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