The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Bluejay Mining PLC - mineral exploration and development company focused in Greenland and Finland - In six months to June 30, pretax loss widens to £1.6 million from £1.4 million a year prior. Posts no revenue in either period. Anticipates results for fourth quarter from Kangerluarsuk survey programme in Greenland. ‘The directors are of the view that the group has sufficient funds to meet all committed and contractual expenditure and to maintain good title to the exploration licences,’ firm states.
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Ethernity Networks Ltd - Israel-based network data processing technology provider - Loss narrows but laments cancelled customer contracts due to component shortage. Pretax loss in six months to June 30 narrows to $3.5 million from $4.4 million a year prior. Revenue falls 26% to $704,853 from $955,371. ‘The cancelled customer contract announced on 1 September 2022, has reduced the company’s previously notified revenue expectations for 2022.’ Outlook for 2023 remains unchanged. Ethernity sees ‘potential for further revenue contribution, over and above the contracted orders’.
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Fonix Mobile PLC - London-based mobile payment and messaging platform - Raises annual dividend as profit grows. Pretax profit in the year ended June 30 climbs 29% to £9.6 million from £7.4 million a year prior. Revenue rises 13% to £53.6 million from £47.7 million. Cost of sales rises 11% to £40.4 million from £36.3 million. Financial year 2021 had one-off £844,000 AIM admission fee. Raises final dividend by 27% to 4.50 pence from 3.53p. Total dividend grows 24% to 6.50p.
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Pelatro PLC - London-based marketing software specialist - In the six months to June 30, turns to pretax loss of $141,000 from a profit of $38,000 a year prior. Revenue grows to $4.2 million from $3.5 million. Adjusted administrative costs grow to $2.9 million from $2.0 million, more than offsetting revenue increase. Looking ahead, Pelatro says: ‘Business has been improving significantly throughout the year with several new customers signing up for our products; in particular entry into the financial services sector has been a major step for us during the past few months.’
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UIL Ltd - closed-end Bermuda-incorporated investment company - Net asset value per share falls as cites heightened geopolitical events such as Russia’s war against Ukraine and friction between the US and China. Notes concern over Taiwan-China situation. NAV per share at June 30 dives 36% to 260.89 pence from 431.51p a year prior. NAV total return is a negative 38% versus positive 51% a year ago and underperforms against 15% negative return of MSCI emerging markets. Declares 8.00p dividend, unchanged from a year ago. Looking ahead, Chair Peter Burrows says: ‘The outlook for global economies is inextricably linked to Covid-19 in China, to resolving geopolitical differences and to central banks navigating inflation and interest rate responses. We remain optimistic that solutions can be found and that policy makers can navigate through the challenges. We expect inflation to be elevated for much of 2022, assets valuations to increase, technology to continue to gain market share and commodities to rise in value. Most of our portfolio companies are doing very well in this challenging environment and we expect this to continue.’
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