Ariana Resources PLC - London-based exploration firm with interests in Turkey - Posts pretax profit of £5.0 million for 2022, down from £7.7 million the previous year. The company says that last year it benefitted from £6.4 million in profit from the disposal of its Turkish interests. The company reports no revenue for the year, unchanged from the year before. Ariana says that net share of the profit and losses of its associated investments increased by £1.5 million from the prior year. The company is unable to recommend the payment of a dividend for 2022.

‘Against a shifting and challenging macroeconomic background, we believe every crisis is an opportunity. We also believe we have pivoted Ariana to leverage our competitive advantages over a wider commodity range and geographical reach,’ says Chair Michael de Villiers.

Current stock price: 2.21 pence, down 7.9%

12-month change: down 30%

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