The following is a round-up of earnings for London-listed companies, issued in the past week and not separately reported by Alliance News:
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Inspirit Energy Holdings PLC - London-based waste heat recovery technology and decarbonisation engineering - Reports pretax loss of £303,000 for the year that ended June 30, narrowed from £329,000 the year prior. Net asset value as at June 30 is 0.056 pence per share, down 9.7% from 0.062p. Does not declare a dividend, unchanged from the previous year. Chief Executive Officer John Gunn says: ‘As per previous years, the board are continuing to assess funding options for the development and commercialisation of our products and will continue to demonstrate prudence in our approach to managing our current resources whilst pushing forward with our product development.’
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Pharma C Investments PLC - New Jersey-based early-stage investor in medical cannabis industry - Pretax loss is £19,000 in the six months that ended June 30, narrowed from £124,000 a year before. Generates no revenue, unchanged year-on-year. Notes that it has continued to provide support to its portfolio company, Product Earth, but given the negative sentiment towards the medical cannabis industry, agreed a change in investment strategy earlier in December to focus on the ‘emerging AI sector’. Also says it has hired Peter Wall, previously chair & chief executive officer of Argo Blockchain PLC, as its new executive chair. Following suspension, the company’s shares resume trading on Aquis Stock Exchange on Wednesday.
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RC365 Holding PLC - London-based company focusing on payment gateway solutions and IT support services - For the six months ended September 30, reports pretax loss of HK$34.9 million, around £3.5 million, widened from HK$3.0 million a year prior. Revenue is HK$6.8 million, down 14% from HK$7.9 million. Declares no dividend for the half. Loss per share widens to 27.78 cents from 2.78 cents. During the half-year, acquires Mr Meal Production Ltd for HK$1 million in cash and HK$1 million through the issue of 91.5 million shares. Also inks a collaboration deal with APEC Business Services Ltd, whereby RC365 receives HK$15 million for the development of a new RC app. Remains optimistic for year ahead. Chief Executive Officer Chi Kit Law says: ‘The group is well positioned to continue making good progress and pursue new and existing opportunities in the United Kingdom, United States, Malaysia and Hong Kong. The company looks forward to announcing the opening of an office in the United Kingdom in early 2024.’
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Baronsmead Venture Trust PLC - UK-focused venture capital trust managed by Gresham House PLC - As at September 30, reports net asset value per share of 57.20 pence, down 2.3% from a year prior, while the company’s investment portfolio is valued at £107 million. Declares a final dividend of 2.50p per share for the year, which in addition to the 1.75p interim dividend paid in September, makes total dividends for the year of 4.25p. ‘The economic environment over the 12 months to September 30, 2023 remained challenging. Consumer and business confidence continued to be affected by persistently high inflation and rising interest rates,’ it says.
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Baronsmead Second Venture Trust PLC - UK-focused venture capital trust managed by Gresham House PLC - As at September 30, reports NAV per share of 60.1 pence, down 3.1% from a year prior, while the company’s investment portfolio is valued at £129 million. Reports final dividend of 2.25p per share, which in addition to the 2.25p interim dividend paid in September, makes the total dividends for the year 4.50p. ‘Despite the difficult conditions leading to a drop in the value of the portfolio over the period, the board continues to believe that, in aggregate, the fundamentals of the large majority of portfolio companies remain robust,’ it says.
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Tungsten West PLC - Mining company, working to restart production at the Hemerdon tungsten and tin mine in Devon, England - Reports pretax loss of £9.1 million for the six months that ended September 30, widened from £5.1 million a year prior. Revenue is £772,036, up from £208,217. Administrative expenses are £8.0 million, up from £3.3 million. Chief Executive Officer Neil Gawthorpe highlights the formal submission of a mineral processing facility permit during the recent half-year, adding: ‘This period has seen some challenges for the company as we continue to navigate difficult market conditions. However, there have been many positives to take from the last six months and progress has been made at Hemerdon.’
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