The following is a round-up of earnings and trading updates of London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Challenger Energy Group PLC - Caribbean and America-focused oil and gas company - Enters farm-out agreement with Chevron Uruguay Exploration, a wholly-owned subsidiary of Chevron Corp. The agreement is related to a 60% interest in the Area Off-1 block, offshore Uruguay. Chevron will pay Challenger $12.5 million on completion of the transaction. The funds will be used to support the ‘further development’ of the company’s business. Chief Executive Eytan Uliel says: ‘We are absolutely delighted to announce the farm-out of our Area Off-1 block in Uruguay to Chevron, a globally recognised industry leader. We firmly believe that Area Off-1 holds enormous potential, and this farm-out is strong validation of the high-quality technical work CEG has done to-date.’
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ImmuPharma PLC - London-based drug discovery and development company - Confirms that its financing position is sufficient for its immediate requirements and it has no current plans to raise equity through the capital markets. Says future cash needs will be met through income from commercial deals. Adds that is in discussions for commercial deal for rights to its anti-infective programs, CIDP and BioAMB.
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Active Energy Group PLC - London-headquartered biomass-focused renewable energy company - Receives cash payment of $1.7 million from a settlement agreement with Player Design Inc. The settlement was announced on Tuesday and relates to former activities for the potential production of CoalSwitch at PDI’s facility in Ashland, Maine. ‘The board continues to examine the most expedient ways to commence CoalSwitch fuel production, using its proprietary technologies, and will provide an update to shareholders at the earliest opportunity,’ Active Energy says.
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Ricardo PLC - Shoreham By Sea, West Sussex-based environmental and engineering consultant - Pretax loss narrows to £2.1 million in the six month that ended December 31 from £12.5 million a year before, as revenue grows 5.4% to £224.2 million from £212.7 million. Declares an interim dividend of 3.8 pence per share, up 13% from 3.35p a year ago. Looking ahead, Ricardo says it ‘remains confident of delivering full year market consensus, underpinned by our strong order intake in the second quarter of [the first half], increased pipeline visibility for the second half of the year and improved profitability from accelerating our operating model transformation.’
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Netcall PLC - Bedford, England-based customer engagement software provider - Pretax profit grows 63% to £3.9 million in the first six months of the financial year ending June 30 from £2.4 million in the first half of financial 2023, as revenue rises 8.0% to £18.9 million from £17.5 million. Looking ahead, Netcall says it has positive momentum going into the second half of the financial year. CEO James Ormondroyd says: ‘These results reflect a good start to the year, with strong uptake of our Cloud offering from new and existing customers. This growing base of cloud subscriptions is providing increased visibility and cash flows, supporting continued investment into our business.’
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