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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MetalNRG PLC - London-based natural resources and energy-focused investor - Pretax loss widens to £1.4 million in the six months to June 30 from £509,176 a year prior. Remains non-revenue generating, unchanged from a year ago. ‘The remainder of the year presents the company with large opportunities. We expect to see the culmination of the last 12 month’s work come to fruition later in the year and the company looks forward to supplying further updates as matters progress,’ company says.
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Quadrise PLC - energy technology company and supplier of MSAR emulsion technology fuel - Pretax loss narrows to £3.1 million in the six months to June 30 from £3.3 million a year prior. Posts nil revenue, unchanged, but benefits from drop in production and development costs to £1.5 million from £1.7 million. Other administration expenses are flat. Says: ‘The company entered the 2024-25 financial year with strong momentum and is preparing to play its part in accelerating the global transition away from fossil fuels.’
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Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Pretax profit falls to $16.8 million in the six months to June 30 from $17.4 million a year prior as revenue drops to $23.7 million from $33.1 million. Earnings per share are unchanged at 3.9 US cents. Explains revenue fell primarily as a result of lower production rates and gas prices. ‘To date, 2024 has been a solid operational year for Enwell Energy, however our achievements are significantly overshadowed by the ongoing war, which continues to have a huge impact on all aspects of life and business in Ukraine. The lifting of the suspensions of the VAS and SC licences in June 2024 was very welcome news, and we are pleased to be able to resume operations at those licences,’ company says.
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Coro Energy PLC - South East Asian energy company with a natural gas and clean energy portfolio - Pretax loss narrows to $1.4 million in the six month to June 30 from $2.5 million a year prior. Revenue edges up to $136,000 from $116,000. Bottom line benefits from fall in general and administrative expenses to $1.2 million from $1.6 million.
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SDX Energy PLC - Middle East and North Africa-focused exploration & production - Pretax loss multiplies to $9.3 million in the six months to June 30 from $2.1 million a year prior. Bottom suffers from impairment charges of $5.0 million versus nil a year prior. Also, exploration and evaluation expense jump to $4.4 million from just $72,000.
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Bezant Resources PLC - copper and gold exploration company with projects in Africa, South America and the Philippines - Pretax loss widens to £487,000 from £463,000 a year prior. Nil revenue, unchanged but operating expenses fall to £294,000 from £386,000. Continues to have ‘several ongoing discussions regarding finance and resource collaboration for their advancement and will update shareholders as we have news to report.’
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