The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
----------
Gusbourne PLC - Ashford, Kent-based sparkling wine producer - Pretax loss in six months to June 30 widens to £1.9 million from £1.4 million. Revenue falls 3.2% to £3.5 million from £3.6 million a year prior. Notes direct-to-consumer sales rise 14%, hospitality revenue up 41% and international sales climb 13%. However, UK trade wine sales slump 22%. Gusbourne puts this down to ‘reduced stock holding levels by UK trade customers to help reduce their holding costs’.
----------
Woodbois Ltd - Guernsey-based timber technology - Revenue in first half of 2024 declines 25% to $3.6 million from $4.9 million. However, swings to pretax profit of $40,000 from $3.4 million. Operating costs fall to $2.3 million from $3.5 million. ‘The first half of 2024 has been a period of continued transformation and operational restructuring for Woodbois. Despite the challenges we’ve faced, our financial performance reflects the progress made in stabilizing our operations and laying the groundwork for future growth,’ Chief Financial Officer Johannes Bloemen says.
----------
Aseana Properties Ltd - Jersey-based property development company focused on Vietnam and Malaysia - Net asset value per share at June 30 half-year falls to $0.29 from $0.32 at end of December. Net loss narrows to $4.7 million from $6.1 million a year prior. Reports no half-year revenue, compared with nominal revenue of $99,000 in prior year. Also reports further five residences at RuMa hotel have been sold. ‘Sale and purchase agreements have been signed on 4 of them... with the 5th expected to be signed and a deposit received shortly,’ Aseana adds. In addition, Nick Paris resigns as chair with immediate effect. ‘Arrangements have now been made and new resources put in place to transition to a new team who will manage the company’s operations and divestments. As a result, the existing management team are leaving the company with immediate effect,’ Aseana adds.
----------
Crushmetric Group Ltd - Operations in US, Hong Kong and Singapore and makes range of consumer products including pens, chairs and tumblers made by denting aluminium cans - Revenue in six months to June 30 up to HK$2.9 million, around £282,802, from HK$1.0 million a year prior. Pretax loss narrows to HK$3.7 million from HK$3.8 million. ‘The group’s revenue in the first half year of 2024 increased as compared to the same period in 2023 as the group has spent more resources in social media and marketing partners since the last quarter of 2023. Sales slowed down in the second quarter and we expect sales will pick up in the second half of the year,’ the firm says.
----------
Harvest Minerals Ltd - South America-focused fertiliser producer - Revenue in six months to June 30 rises 32% to $1.2 million from $931,608 a year prior. Pretax loss, however, widens to £1.8 million from £1.6 million. Cost of goods sold up to $1.2 million from $707,044. ‘Sales continue to be negatively affected as the fertiliser sector faces a challenging period, driven by both macroeconomic pressures and a continuation of local factors impacting commodity prices,’ Harvest Minerals says.
----------
Savannah Resources PLC - lithium producer with asset in northern Portugal - Pretax loss widens to £1.9 million from £1.5 million in first half of 2024. Reports no revenue, unchanged from prior year. Notes phase one of definitive feasibility study at Barroso lithium asset, located near town of Boticas in northern Portugal, was completed in July. Phase two drilling is to start in the fourth quarter of year. It has progressed in ‘stakeholder engagement’, with community relations manager appointed ‘to lead on local stakeholder engagement activities’. It has purchased 100 properties from private landowners. ‘To keep project workstreams on track, Savannah started the legal process which grants it temporary access to land it does not currently own on the project’s concession area,’ Savannah Resources adds. ‘After a delay of more than half a year caused by the change in government earlier in the year, Savannah expects the legal process to conclude shortly.’ Chair Rick Anthon adds: ‘The first half of 2024 was also marked by a change of government in Portugal. Pleasingly, the political consensus of the major parties around the importance of economic development, participation in the opportunities offered by technological transformation and development of the battery value chain remains strong. Further confirmation that our industry is well regarded was shown by the clear support it received during a recent debate in the Portuguese Parliament with specific comments relating to our project showing that its importance to the region and to the country is well understood.’
----------
Tan Delta Systems PLC - Sheffield, England-based provider of oil-quality monitoring and maintenance systems for commercial and industrial equipment - Pretax loss in first six months of 2024 widens to £529,000 from £298,000. Revenue is down 31% to £658,000 from £959,000 a year prior. Tan Delta says: ‘The board is pleased with progress made to develop the business and is looking forward to seeing this groundwork reflected in the forecasted sales in H2 and beyond. We see a growing array of opportunities across real time oil analysis-based equipment monitoring and management which is where our core technology delivers valuable data and insight.’
----------
Mercantile Ports & Logistics Ltd - India-focused developer of a port and logistics facility - Revenue in six months to June 30 down 61% to £1.1 million from £2.7 million a year prior. Pretax loss widens to £6.0 million from £5.4 million a year prior. ‘The company’s operations continued to build momentum, although this progress was not reflected in revenue growth. As the period progressed, the timing of the handling of significant volumes of container cargo was delayed beyond the contingency built in by board. Despite the facility having the necessary permits to handle containers, unexpected levels of government processes have been encountered and the expected volumes have not, therefore, taken place. Whilst this has been disappointing, this issue has been taken to the highest level of government and is expected to be resolved shortly,’ CEO Jay Mehta says.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
