The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
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United Oil & Gas PLC - oil and gas exploration company with key assets in Jamaica and the UK - Pretax loss widens to $1.4 million in the six months to June 30 from $1.3 million a year prior. Posts nil revenue, unchanged. Administration expenses rise to $641,849 from $616,769, exploration costs and new venture write-offs fall to $157,489 from $301,656. ‘As we move forward, our primary focus remains on Jamaica, which we believe offers transformative potential for United. The planning and permitting processes for the piston core sampling is advancing, with permits expected in early 2025,’ company says. ‘We remain engaged with a number of interested parties as we continue to progress the farmout process,’ it adds.
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Likewise Group PLC - Birmingham, England-based floor coverings distributor - Pretax loss narrows to £317,366 in the six months to June 30 from £490,029 loss a year prior as revenue climbs 6.2% to £70.7 million from £66.6 million. Declares 0.125 pence per share interim dividend, up 25% from 0.1p a year ago. Says revenue grew despite ‘challenging market conditions and widely publicised unprecedented events throughout all sectors of the UK flooring industry’. Looks forward to Autumn trading but fourth quarter upturn ‘remains difficult to predict’, given the ‘unprecedented widespread restructuring in the UK flooring industry’. Feels strategically ‘well positioned’ to maximise the opportunities presented in the medium term and ‘particularly confident’ in 2025, 2026 and beyond.
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80 Mile PLC - mineral exploration in Greenland and Finland, formerly known as Bluejay Mining - Pretax loss widens to £2.0 million in the six months to June 30 from £659,135 a year prior. Posts zero revenue, unchanged, while cost of sales more than halves to £15,849 from £32,033. However, reports other losses of £1.0 million compared with gains of £34,467 a year before. Says first half marked a ‘significant turning point’ as it emerged from a ‘challenging period of extended eroded shareholder value’. ‘Looking ahead into the remainder of 2024, 80 Mile will continue to execute its new strategy, focussing on the exploration and development of its projects, with the goal of enhancing their value and, in turn, maximising returns for our shareholders.’
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Christie Group PLC - London-based provider of professional services for customers in hospitality, leisure, healthcare, medical, childcare, education and retail - Pretax loss narrows to £1.1 million in the six months to June 30 from £1.9 million a year prior. Revenue rises 6.6% to £35.3 million from £33.1 million. Basic losses per share are 3.51 pence compared to 5.41p. Leaves dividend unchanged at 0.50p per share. Says loss is a ‘disappointing outcome but masks progress being made across our group’. Chief Executive Dan Prickett highlights ‘a strong recovery in our UK transactional brokerage activity in H1 alongside positive growth performances in our finance brokerage business and our hospitality stock audit business.’ He anticipates a ‘much stronger [second half] result and a return to a profitable full year performance.’ Company says it has commenced the second half with ‘encouraging pipelines for both the UK and our European businesses, with the UK transactional pipeline 24% higher than the same point than [the first half] 2023. As a result, we are optimistic of stronger second half trading performance and anticipate returning to brokering the sale or purchase of over 1,000 businesses in the year. The outlook for our finance brokerage business in the second half is similarly positive.’
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Eco Buildings Group PLC - London-based housing and construction group - Pretax loss widens to €1.1 million in the six months to June 30 from €907,000 a year prior. Revenue, however, jumps to €206,000 from €32,000. Hurting the bottom line, administrative and other operating expenses multiply to €914,000 from €132,000. Calls 2024 a ‘pivotal’ year. Based on current orders and completed projects, Eco Buildings forecast over €1 million in revenue by the end of 2024, primarily driven by ongoing deliveries of modular wall panels and small building orders.
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Curzon Energy PLC - London-based oil and gas company - Pretax loss widens to $510,956 in the six months to June 30 from $367,719 a year prior. Zero revenue, unchanged, while higher loss reflects increased administrative expenses which rise to $402,051 from $272,656. ‘Given the nature of the business and its development strategy, it is unlikely that the board will recommend a dividend in the immediate future.’ Further says: ‘Several exciting projects and assets have been identified, including one opportunity with an existing gas production asset and another with proven oil production and a valid competent persons report.’
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Huddled Group PLC - investor in e-commerce brands - Pretax loss widens to £1.8 million in the six months to June 30 from £1.1 million a year prior despite revenue from continuing operations jumping to £5.3 million from just £62,000. Cost of sales jumps too to £5.4 million from £139,000. Says 44,500 customers added in the period. Forecasts third-quarter revenue of more than £3.5 million, up 13% from the second quarter. Sees third quarter average order value of more than £39, up 11% quarter-on-quarter, expects around 16,000 customer additions. The second half ‘is now about continued growth, while also driving efficiencies from shared group operations and expertise, all of which we believe will deliver a profitable and sustainable business model,’ Huddled says.
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Oneiro Energy PLC - London-based special purpose acquisition company focused on energy transition, primarily away from oil - Pretax loss narrows to £175,877 in the six months to July 31 from £273,255 a year prior. Nil revenue, unchanged, fall in loss reflects drop in administrative expenses. ‘The company’s shares will remain suspended for the time being as we continue to prepare for our proposed re-admission, which we hope to have completed by the end of the calendar year thereby benefiting from the noticeable uptick in interest and activity in the mining sector of late,’ company states.
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