The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Bezant Resources PLC - Botswana-focused copper and gold explorer and developer - In the first half of the year, pretax loss widens to £463,000 from £348,000 a year prior as operating expenses grow 45% to £463,000. Notes shortage in the supply of copper, but says its copper project porftolio is ‘above average’. Continues to be in discussions regarding finance and resource collaboration for the advancement of its copper projects.
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Nostrum Oil & Gas PLC - London-based, Kazakhstan-focused oil and gas development, production and exploration company - Starts appraisal campaign at the Stepnoy Leopard fields in north west Kazakhstan. Aims to re-enter two existing wells in the Teplovskoye reservoir to take representative fluid samples, and conduct extended well testing.
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Seeen PLC - London-based social media services firm - Revenue in the six months ended June 30 falls 42% to $1.1 million from $1.9 million a year prior due to the ‘elimination of unprofitable revenue from [communications service providers] channel partners with no technology upselling potential’, as well as the loss of all CSP advertising revenue in Russia due to the conflict in Ukraine. Notes, however, ‘an increasing proportion of technology sales within the revenue mix’. Pretax loss narrows to $1.5 million from $1.6 million the year before. Looking ahead, is on track to meet full-year market expectations for adjusted earnings before interest, tax, depreciation and amortisation. Also set to achieve monthly cash flow breakeven from ‘current pipeline of opportunities’.
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Equipmake Holdings PLC - Norfolk, England-based manufacturer and developer of electrification products for use across the automotive, aerospace, bus, coach and fire truck industries - Wins £1.8 million contract from Big Bus Tours Ltd to repower a fleet of 10 Ankai London buses using its integrated zero emission drivetrain system. Chief Executive Officer Ian Foley says: ‘I am pleased to report that having received an initial order for a trial vehicle from Big Bus Tours, it has now decided to further its partnership with Equipmake with this contract. We are delighted to be helping Big Bus reduce the emissions of its fleet and this contract illustrates the growing demand for repowering vehicles, and the increasing shift towards clean, less polluting electric mass transport vehicles in our cities.’
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