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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Supply@ME Capital PLC - London-based inventory monetisation platform - Pretax loss narrows to £1.5 million in the six months to June 30 from £2.4 million a year prior. Revenue unchanged at £100,000. Says narrowed loss is due to a significant focus on cost saving efforts and a lower level of corporate activities than a year ago.
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Silverwood Brands PLC - holding company established to invest primarily in branded consumer businesses - Swings to pretax profit of £677,992 in the six months to June 30 from £189,232 loss a year prior as revenue climbs to £7.1 million from £5.8 million. ‘Our brands are growing overall, and with our internal focus on sales execution, expansion across our channels, and work in new markets coming to fruition, we continue to be optimistic about our brands.’
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Ukrproduct Group Ltd - producer and distributor of branded dairy foods and beverages in Ukraine - Pretax profit grows to £975,000 in the six months to June 30 from £654,000 a year prior. But, revenue falls to £16.6 million from £18.3 million, while cost of sales drops to £13.2 million from £15.1 million. Says the outlook for the second half is highly uncertain due to ongoing war in Ukraine and describes the business environment as very challenging. ‘In the next six months the group expects to focus on maintaining existing production facilities, sustaining sales volumes and ongoing improvement of operational efficiency,’ company says.
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Wishbone Gold PLC - precious metals exploration company - Pretax loss widens to £790,569 in the six months to June 30 from £668,264 a year prior. Zero revenue, unchanged, but administration expenses increase to £883,157 from £666,656. Forex loss falls to £528,000 from £1.6 million. ‘Despite the rise in the gold price in recent months this has been a difficult period for small-cap exploration with funding continuing to stay away from the sector. We remain convinced that gold is a critical feature of the world economy and that it will become more so in the future,’ company says. Believes there remain many uncertainties for renewed economic growth.
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Future Metals NL - exploration company focused on projects in Western Australia - Pretax loss narrows to A$3.9 million in the year to June 30 from A$7.3 million a year prior. Benefits from sharp fall in exploration expenditure to A$1.5 million from A$4.9 million. Basic losses per share are 0.91 AUD cents compared to 1.82 cents.
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Thor Energy PLC - exploration company, which has prospective projects in Australia and the US - Company pretax loss widens to £2.5 million from £1.6 million a year prior. Further, reacts to what it terms ‘false claims and allegations, reported in the press, by Special Advisers of the Osun State Government, Nigeria.’ Says the allegations contain ‘gross inaccuracies and false claims about Thor’s wholly owned subsidiary, Segilola Resources Operating Ltd, regarding tax evasion and unethical business practices. Thor Explorations fully rejects all the allegations and has not been presented with any evidence by the Osun State Government to support its claims. As reported in the local media, the allegations were formally refuted by the Country Manager of Segilola Resources Operating Ltd,’ company says in a statement.
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Critical Mineral Resources PLC - exploration and development of clean energy metals in Morocco - Pretax loss narrows to £279,249 in the six months to June 30 from £440,340 a year prior. Says this reflects a ‘comprehensive’ review of corporate costs. Administration expenses fall to £280,002 from £439,151. Net cash outflow from operations totals £212,437 compared with £343,382 a year ago.
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Premier African Minerals Ltd - British Virgin Islands-based mining company focused on Southern Africa - Pretax loss balloons to $12.0 million in the six months to June 30 from $7.5 million a year prior. Reports no revenue, unchanged while cost of sales total $7.7 million compared to zero a year ago. Explains loss was due to costs of Zulu Lithium mine construction. Mulls option for Zulu, where it has incurred ‘significant debt’. These include a possible sale, either in its entirety, partially or as a joint venture, or the potential installation of an additional spodumene float plant based on self-funding and retention of ownership. Explains a recommencement of operations will require further funding. ‘In the board’s opinion, recommencing production should be seriously considered if the alternative strategic options for Zulu under investigation and negotiation fail,’ company says. Adds: ‘To meet our longer-term requirements and settle creditors at Zulu, the company will need additional funding and therefore we are proposing to seek additional disapplication authorities at a general meeting to be convened shortly.’
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