The following is a round-up of 2022 annual results by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Ovoca Bio PLC - Dublin-based biopharmaceutical company with a focus on women’s health - Pretax loss for 2022 is €5.6 million, ticking up from $5.2 million in 2021. Reports no revenue, unchanged. Administrative expenses fall to €5.4 million from €6.1 million. Other loss is €154,000, swinging from a gain of €766,000. Chief Executive Officer Kirill Golovanov says: ‘During 2022, we continued to progress our ongoing phase 2 dose ranging study being undertaken in Australia and New Zealand. The recruitment of participants into the study finished in July 2022, with all required study data collection activities then completed in December. The study results are currently expected to be delivered in August 2023...I continue to believe Ovoca is well positioned to achieve our vision of becoming a leader in the research and development of, and commercial partner of choice for, novel medicines in areas of high unmet need that affect women.’
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Alien Metals Ltd - mineral exploration and development company with assets in Australia, Mexico and Greenland - Pretax loss in 2022 is A$2.4 million, or £1.3 million, widening from A$2.3 million in 2021. Reports no revenue, unchanged. Administrative expenses tick up to A$2.4 million from A$2.3 million, alongside one-off losses of A$30,000 in 2022. Executive Chair Guy Robertson says: ‘During the year, we made significant progress in our exploration and development projects in Australia. Our flagship project, the Hancock iron ore project in Western Australia, has continued to demonstrate strong potential for high-grade direct ship iron ore, and we remain well-positioned to capitalise on the growing demand for iron ore in China...Looking ahead, we remain focused on delivering long-term value for our shareholders by continuing to advance our exploration and development projects. The acquisitions we have made during the year strengthen our portfolio and provide us with additional growth opportunities.’ Also notes Rod McIlree resigns as executive director, effective Friday.
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DCI Advisors Ltd - London-based real estate investment trust - Pretax loss in 2022 narrows to €5.8 million from €21.2 million. This is largely driven from change valuations narrowing to negative €3.0 million from negative €24.6 million. Revenue plummets to €318,000 from €4.7 million, while costs of sales is nothing from €2.8 million. Says its main objectives for 2023 are to execute further portfolio asset disposals, progress construction at its main asset Kilada Country Club, Golf & Residences and generate plot and villa sales momentum at the project, secure adequate working capital liquidity for DCI and to defend its claim against DCP and pursue all legal options to recover the value arising from the undisclosed option agreement. This relates to terminating Dolphin Capital Partners Ltd as its investment manager in March.
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Powerhouse Energy Group PLC - Bingley, England-based hydrogen-from-waste-plastic producer - Pretax loss in 2022 widens to £46.2 million from £1.8 million. This is due to exceptional items, such as a one-off goodwill impairment of £40.7 million in 2022. This is alongside a one-off loan impairment of £2.2 million, one-off revenue impairment of £986,392 and one-off exclusivity impairment of £500,000. Revenue also almost halves to £380,277 from £701,435. Acting Chief Executive Officer Keith Riley says: ‘The year under review was a challenging one for Powerhouse, but one that I believe will be ultimately rewarding. It was the year that started a change that the board believe will move the company towards its goal of trading profitably and being at the forefront of the waste-to-energy sector.’
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Amur Minerals Corp - Russia-focused nickel copper sulphide exploration company - Pretax loss is £2.6 million in 2022, widening from £1.8 million in 2021. This is almost entirely due to administrative and other expenses widening to £2.6 million from £1.8 million. Says it continues to explore viable options for a reverse takeover.
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