Source - Alliance News

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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SEEEN PLC - London-based global media and technology platform - Posts revenue of $1.9 million for the six months ended on June 30, down 63% from $5.2 million a year ago, as pretax loss widens slightly to $1.6 million from $1.5 million. Says the reduction reflects the loss of all ‘Multichannel Network advertising revenue in Russia since the start of the Ukrainian conflict’. Gross profit decreases by 54% to $271,840 from $594,380 a year ago. Expects full-year profitability and revenue to be in line with market expectations.

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Volvere PLC - turnaround investment firm based in Leamington Spa, England - Records a 14% rise in revenue of £17.9 million for the six months ended on June 30, from £15.7 million a year ago. Pretax loss, however, widens to £1.1 million from £286,000, as cost of sales jumps to £16.5 million from £13.4 million a year ago. ‘This [pretax loss] reflects increased losses in Indulgence, partially offset by gains arising from treasury management activities,’ it explains. Indulgence Patisserie is the company’s frozen desserts manufacturer. Says overall performance is below expectations.

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Novacyt SA - Surrey-based biotechnology group focused on clinical diagnostics - Reports revenue of £16.5 million for the six months ended on June 30, down significantly from £52.2 million a year ago. Says the fall is ‘predominantly driven by the expected decline in Covid-19 related sales’. Pretax loss narrows to £7.1 million from £14.4 million. Looking ahead, the firm does not expect demand for its Covid-19 products to pick up in the fourth quarter, as previously anticipated, therefore, the board expects the fourth quarter revenue to be similar to the third quarter, resulting in an anticipated earnings before interest, tax, depreciation, and amortisation loss for the full year of about £13.5 million.

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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Posts a surge in revenue to EUR 3.0 million for the six months ended on June 30, from €481,720 a year ago. Pretax loss narrows to €2.2 million from €4.0 million. Cost of sales rise to €2.7 million from €414,549. Looking ahead, Eqtec expects 2022 revenue to be in the range of €10 million and €12 million.

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Safestay PLC - London-based operator of city centre hostels across Europe - Achieves a surge in revenue to £7.3 million in the six months ended on June 30, from £407,000 a year ago. Pretax loss narrows to £338,000 from £3.4 million. Says all 16 hostels remained largely open for the first time since early 2020 and ‘demonstrated that their customer appeal remains strong’. Looking ahead, says confident in its business and prospects are steadily returning.

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Edenville Energy PLC - London-based developer of Tanzania’s Brownfield Rukwa coalfields - Records a rise in revenue to £56,146 in the six months ended on June 30, from £27,752 a year ago. Pretax loss, however, widens to £820,640 from £587,354, as cost of sales widen to £452,484 from £280,320 a year ago.

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