The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Acceler8 Ventures PLC - Jersey-based acquisitions company - Net assets at December 31 £168,725, down 52% from £353,529 a year ago. Pretax loss narrows to £185,117, from £383,784, which it says reflects moderate monthly operating expenses. Loss per share is 25 pence, down 65% from 72p a year ago. Declares no dividend, and ‘does not anticipate declaring any dividends in the foreseeable future’. Says it will continue to focus on its acquisition strategy to maximise shareholder value.
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MaxRets Ventures PLC - London-based, cannabis sector-focused investment firm formerly known as Greencare Capital PLC - Pretax loss for year ended October 31 widens to £559,000, from £373,000 the previous year. Loss per share widens to 3.78p, from 2.52p. MaxRets declares no dividend for financial 2022. Says it expects to deliver on pipeline investment opportunity in coming months.
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Cornish Metals Inc - Vancouver-based mineral exploration company focused on mineral projects in south-west England - Pretax loss for 2022 is C$1.2 million, or £706,701, narrowing from C$2.9 million a year ago. Operating expenses increase to C$3.4 million, up 13% from C$3.0 million. Plans to use proceeds of 2022 offering to advance South Crofty tin project to a construction decision within 30 months of the closing of the offering in December 2024. CEO Richard Williams comments: ‘We are very pleased with the excellent progress achieved on the advancement of South Crofty in recent months. The construction of the water treatment plant is nearing completion and we anticipate its commissioning this summer, followed by commencement of dewatering the mine.’
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Synairgen PLC - Southampton, England-based respiratory company developing SNG001 treatment, containing the broad-spectrum antiviral protein interferon beta - Pretax loss for 2022 £20.1 million, narrowing from £57.9 million in 2021. Basic loss per share narrows to 8.76p, from 24.28p. R&D expenditure £14.9 million, down from £52.9 million a year ago. Says R&D continues to be focused on clinical trials and manufacturing. Plans to advance clinical development plan for its SNG001 inhaled antiviral treatment, with studies beginning in the second half of 2023. ‘2022 was an insightful year for Synairgen, pointing us towards a clear clinical development plan following analysis of the phase 3 SPRINTER data and other important data... We believe that SNG001 has the potential to help fill this important gap in respiratory treatments for high-risk patient groups and we look forward to initiating the first trials in the second half of this year,’ CEO Richard Marsden says.
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