Source - Alliance News

The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News.


British Honey Co PLC - Buckinghamshire-based spirits and honey producer - For the six months that ended on June 30, sales remains roughly at £3.0 million, in line with a year earlier. First-half operating loss widens to £2.0 million from £1.3 million. Pretax loss widens to £2.0 million from £1.4 million the year before, as administrative expenses rise to £3.2 million from £2.8 million. Adds that it has restored to trading on the Aquis Exchange, which has become effective today. Shares were suspended in July due to late results. Looking ahead, says it maintains a positive outlook for the business beyond its near-term working capital requirement being addressed by support from a major shareholder. Overall, the company’s ‘white label business is continuing to drive sales and a further update on trading is anticipated early in the New Year following the important Christmas trading period,’ it adds.


Kodal Minerals PLC - mineral exploration & development company focused on lithium and gold assets in West Africa - Posts no revenue for the six months ended on September 30, unchanged from a year earlier. Sees pretax loss widen to £490,856 from £373,264, as administrative expenses increase to £368,850 from £226,153 the year before. Says it has continued to look for and review opportunities to accelerate the development of the Bougouni project so that it can ‘take advantage of the near-term high price environment in the lithium market’.


Online Blockchain PLC - Ongar, England-based blockchain research and development company - Swings to an annual loss, saying its major investment ADVFN PLC is suffering ‘a long period of uncertainty and change’. It records £107,000 in revenue in the year ended June 30, up from £65,000 the year before. However, it swings to a pretax loss of £1.1 million from a profit of £25,000. This is mostly due to other administrative expenses of £948,000, up from £425,000 from the year before. Operating loss widens to £841,000 from £241,000.


RC365 Holding PLC - company focusing on payment gateway solutions & IT support and security services - Posts revenue of HK$7.9 million, or or £841,039, for the six months ended September 30, up significantly from HK$2.7 million the year before. Swings to a pretax loss of HK$3.0 million from a profit of HK$500,712, as its cost of sales amounts to HK$5.5 million, compared to none the year before. Looking ahead, says it is ‘actively exploring a number of opportunities by forming different types of business relationships with corporates located in United Kingdom, Singapore and Hong Kong’.


Cellular Goods PLC - London-based cannabinoid consumer products company - Posts revenue of £28,904 for the year ended August 31, compared to none the year before. Pretax loss, however, widens to £6.0 million from £3.3 million, as administrative expenses also surge to £6.0 million from £3.3 million the year before. Says the loss ‘reflects higher operating costs due to ramp-up of commercial operations, investment in marketing and brand building, as well as the impact of slower than expected product sales due to challenging industry and regulatory conditions.’ Looking ahead, says trading in the first quarter of financial 2023 has ‘improved significantly from a low base and the company has seen three straight months of sequential growth in revenue during this period and therefore the board looks to the future with cautious optimism’.

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