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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Black Sea Property PLC - property developer in Bulgaria - Swings to pretax profit of €111,619 in the six months to June from a loss of €74,412 a year prior. Revenue balloons to €1.5 million from €264,835 although costs rise too. Property operating costs increase to €1.2 million from €283,729 and administration and other costs climb to €561,614 from €328,293. Says ‘long-term strategy of CSB is to develop the whole Gradina area, including all newly acquired adjacent properties into an exclusive high-quality summer resort.’
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MobilityOne Ltd - e-commerce payment solutions provider - Swings to pretax loss of £1.7 million in the six months to June 30 from profit of £5,914 a year prior as revenue falls to £110.5 million from £121.5 million. Cost of sales drops to £105.5 million from £115.4 million but administrative costs edge up to £6.2 million from £5.9 million. Remains cautious on the outlook for the remainder of 2024 due to rising inflation and increasing expenditure, including higher administrative expenses as well as higher infrastructure and marketing costs. ‘As the group strives to maintain as well as grow its business, the group’s gross profit margins for its products and services will continue to be affected,’ firm says.
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Alien Metals Ltd - Australia-focused minerals exploration and development company - Pretax loss narrows to $579,000 in the six months to June 30 from $1.6 million a year prior. Continues to explore all avenues for the further development of the Hancock project, and to assess the alternatives of joint venture, off-take agreements and sole funding options. Says the company has recently received further recent non-binding proposals, and thus is deferring the previously disclosed joint venture discussions, while all options for the project’s development are assessed. A further update will be provided upon a ‘material development’. ‘Whilst the discussions have been ongoing we have continued to work on the necessary approvals to move the project towards production.’
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Phoenix Digital Assets PLC - London-based investor in blockchain assets - Pretax profit more than doubles to £18.7 million in the six months to June 30 from £8.7 million a year prior. Generates no revenue, unchanged from a year ago. Basic earnings per share are 1.40 pence up from 0.86p. NAV per share at June 30 is 5.07p. ‘The market has gone through a large consolidation phase and we remain very bullish on the crypto market well into 2025. We have re-aligned our portfolio of liquid assets to best take advantage of what we believe is the coming crypto bull market.’
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CVC Income & Growth Ltd - invests in senior secured loans and other sub-investment grade corporate credit - Sterling share price total return is 20% in the six months to June 30 compared with 8.0% a year prior. Sterling share net asset value return 9.3% versus 11.5%. Pretax profit falls to €9.9 million from €16.7 million. Says: ‘Broad market conditions, geopolitical volatility and sentiment are generally mixed.’ ‘Remains on alert for signs of economic volatility and is keeping a close watch on the potential impact of forthcoming elections and geopolitical unrest.’
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All Things Considered Group PLC - Music artist management and production company - Pretax loss widens to £1.3 million in the six months to June 30 from £1.1 million a year prior. Revenue multiplies to £19.6 million from £3.4 million but cost of sales increases to £13.9 million from £958,178. Administrative expenses double to £6.8 million from £3.2 million. ‘Robust financial position, strong pipeline and improving visibility of activity provides the board with confidence in continuing growth.’
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Ormonde Mining PLC - natural resources company with assets in Newfoundland and Scotland - Pretax loss widens to €560,000 from €454,000 a year prior. Has no revenue; wider loss reflects higher administration expenses.
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Chariot Ltd - Africa-focused transitional energy company - Pretax loss widens to $8.2 million in the six months to June 30 from $7.9 million a year prior. Revenue is $80,000 versus nil before, while
operating costs rise to $8.2 million from $8.0 million. Notes preliminary results of the Anchois-3 well did not deliver as expected. Says post-well analysis is now underway. Still sees a lot of potential within the field and the wider licence area, and these drilling results need to be further analysed and incorporated into understanding of the area. Continues to unlock the value of other projects. Notes good progress on the financing of the Transitional Power business in South Africa, the onshore Loukos licence in Morocco, Project Nour and the electrolyser project in the Green Hydrogen pillar as well as the new venture opportunity. ‘The unexpected Anchois-3 well results have clearly had a significant impact on our share price therefore we have decided to take stock and consider our next steps with the project. We will provide further updates on forward plans across the business as soon as we are able to.’
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