The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Psych Capital PLC - London-based psychedelic medicines media firm and investor - Reports a £1.3 million pretax loss for the year ended April 30, widened from a £543,933 the prior year. Revenue more than doubles to £188,882 from £62,228. Share-based payments cost Psych an extra £334,277, compared to nothing the year before. Administrative expenses increase 32% to £678,957 from £514,935. Company says firms in the psychedelic industry are facing difficulties accessing capital, as well as ‘associated wider macroeconomic pressures’.
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Semper Fortis Esports PLC - London-based professional e-sports team operator - Pretax loss for the six months that ended July 31 narrows to £253,283 from £455,805 the prior year. Company posts no revenue after £455,805 the year before, due to having no active operating businesses during the period. Says it ‘significantly reduced its overheads to a minimum in order to conserve its cash position.’ Also raised £100,000 in April through a subscription for 100.0 million shares at 0.1 pence each. Semper has commenced due diligence on potential reverse takeover of GL Membership Ltd, trading as Good Life+.
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Iconic Labs PLC - London-based media and technology business, and owner of LGBTQ+ news website Gay Star News - Swings to £4.8 million pretax profit for the year ended June 30, following a £762,107 loss the year before. Posts no revenue, down from £26,823. Says it has made strong progress in restructuring and stabilising during the year, for example finalising terms of an up to £3 million financing facility. Liabilities decreased 58% to £3.8 million from £8.9 million, and Iconic ‘maintains a limited amount of cash on its account’ as it is currently entirely reliant on the financing facility. Says it is actively exploring acquisition opportunities, consideration for which would mainly be company equity.
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Rosslyn Data Technologies PLC - Portsmouth, England-based data management and analytics service provider - Reports narrowed pretax loss for year ended April 30 to £2.8 million from £4.1 million. Revenue increased 11% to £3.0 million from £2.7 million, and gross margin improves to 34.7% from 16.6%. Cash balance at April 30 was £767,000, down from £2.4 million at the same time a year prior, but Rosslyn raised £3.3 million after the end of the year through issuing new shares and convertible loan notes. Also reduced cash burn to £205,000 per month from £266,000. Says it won six new contracts during the period, with Chief Executive Officer Paul Watts calling it ‘an incredibly busy year’.
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essensys PLC - London-based provider of software and cloud services for flexible workspaces - Reports widened pretax loss to £15.5 million for the year ended July 31 from £11.1 million the previous year. Revenue increases 8.6% to £25.3 million from £23.3 million. Wider loss is primarily driven by the one-off cost of reorganisation and to impairment charges. Books £2.6 million in reorganisation costs. Adjusted Ebitda loss is narrowed to £6.3 million from £7.0 million. essensys says it remains on track to achieve run-rate positive adjusted Ebitda in the current financial year, and is confident in the longer-term structural growth opportunities in the flexible workspace market.
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Scancell Holdings PLC - Nottingham, England-based cancer immunotherapies developer - Reports widened pretax loss to £14.2 million for the year ended April 30, from £6.3 million. Delivered £5.3 million in revenue, compared no revenue the prior year. Development expenses increased to £11.6 million from £9.5 million, and administrative expenses increased to £5.0 million from £4.8 million. Cash balance at April 30 was £19.9 million, down from £28.7 million on the same day in 2022. Lead cancer vaccines SCIB1 and Modi-1 ‘have shown positive early efficacy results and recruitment continues on track to meet further near-term clinical milestones during 2024.’ Scancell says it has sufficient resources to fund operations through to early 2025, and it expects to achieve all near-term clinical milestones for both aforementioned vaccines.
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Frontier IP Group PLC - London-based intellectual property commercialisation company - Swings to pretax loss of £4.4 million in the year ended June 30, from £10.9 million profit. Net assets per share decrease 7.6% to 81.8p at June 30 from 88.5p on the same day in 2022. Revenue from services totals £372,000, up 13% from £329,000. Cash balance at June 30 was £4.6 million, up from £4.4 million. Says the market and economic outlook remain difficult to predict, noting ‘high levels of global uncertainty’. Also says Chair Andrew Richmond will step down after the upcoming annual general meeting, most likely in December, to be replaced by Julia King.
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