The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Sivota PLC - investment vehicle focused on later-stage, Israeli technology firms - Pretax loss widens to £1.8 million in the first half of 2022 from £62,000 a year before, as administrative expenses jump to £1.1 million from £65,000. Records revenue of £1.1 million, up from nothing. Attributes revenue to the acquisition of Apester.
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Ariana Resources PLC - exploration firm with interests in Turkey, Cyprus and Kosovo - For the first half of 2022, pretax profit falls to £2.9 million from £7.1 million. Attributes this to a profit on restructuring in the prior period of £6.4 million. ‘We look forward to providing further updates from our exciting pipeline of projects and investments, representing a full spectrum of opportunities across commodities and jurisdictions, yet maintaining a continued focus on advanced projects in gold and copper, particularly in south-eastern Europe,’ Managing Director Kerim Sener comments.
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Tower Resources PLC - Africa-focused oil and gas company - Pretax loss for the first half of 2022 widens to $522,127 from $39,458 a year before. Records no revenue, unchanged from a year before. Total administrative expenses swing to a loss of $520,416 from a profit of $90,449. ‘We are continuing to make progress in Cameroon and Namibia; and despite the legal issues Shell has faced in South Africa we are confident that we can still move forward there, albeit with caution. We want to drill as soon as we can in Cameroon in particular, and this continues to be our immediate priority,’ Chair and Chief Executive Jeremy Asher states.
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Crystal Amber Fund Ltd - Guernsey-registered fund - Net asset value per share stands at 145.03 pence at 30 June, up versus 143.19 pence as at December 31, 2021. Records a total NAV return of 8%. Explains that it continued to optimise outcomes for its portfolio companies.
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Enwell Energy PLC - London-based oil and gas company - Pretax profit in the half-year to June 30 soars to $48.9 million from $18.1 million Revenue jumps to $77.2 million versus $41.1 million. Credits this to ‘significantly’ higher gas prices offset by lower production volumes. Cautions about the impact of the conflict in Ukraine on its business.
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Echo Energy PLC - London-based energy company focused on Latin America - Pretax loss in the first half widens to $2.0 million from $1.3 million. Cost of sales rises to $7.3 million from $5.5 million. Exploration expenses grow to $143,545 from $45,807. Revenue increases 6% to $6.2 million from $5.9 million, as production over the period has continued to remain strong. Secures new gas contracts for 2022-2023 significantly above the 2021 annual pricing.
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