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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Cizzle Biotechnology Holdings PLC - London diagnostics developer company engaged in developing a blood test for the early detection of the different forms of lung cancer - Reports loss and total comprehensive income for the the six months to June 30 of £431,000 widened from £390,000 the year before. Basic and diluted loss per share totalled 0.12p compared to LPS of 1.43p before. Administrative expenses rose to £457,000 from £415,000. Chair Allan Syms said: ‘The group continued to make excellent progress during the first half of 2023 as key milestones were met in the development of our proprietary assay for the CIZ1B biomarker which is highly associated with early stage lung cancer.’ Adds: ‘The priority will be to complete clinical trials and achieve Laboratory Developed Test accreditation and then to expand the use of our CIZ1B antibodies for use in a lateral flow format.’
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Libertine Holdings PLC - Sheffield, England-based technology platform solutions provider - Reports total income in the 12 twelve months ended March 31 more than halved to £1.3 million from £2.9 million the year before, while administration expenses near trebled to £3.6 million from £1.3 million. Pretax loss widened to £4.1 million from £3.3 million. Commercial revenue in the year were generated from engineering services on a number of customer programmes. The majority of the revenue came from the engineering development with Hyliion on the first phase of our joint development agreement. Grant income in the period relates to a new programme which commenced with BEIS in March 2022. Administrative expenses increased, as a result of investment into core technical development, scale up of the engineering team to support customer contracts and a full year of post-IPO professional fees. States the end of year cash balance was £2.5 million, down from £6.7 million.
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Curzon Energy PLC - London-based investor and developer in US based natural gas projects - Reports pretax loss in the six months to June 30 of $367,719 narrowed from $408,424 the year prior. Administrative expenses fell 11% to $272,656 from $307,999. Basic loss per share totalled $0.004 unchanged from the year before. States it is unlikely that the board will recommend a dividend in the foreseeable future. Says efforts during the course of the year were focused on identifying, evaluating and executing an agreement to reverse an exciting opportunity into Curzon. Many potential projects and partners were considered, but the board found the majority lacking in either their ability to execute or in accessing the funding required to progress their respective visions. While progress has been slow, believes that finding the right partnership will be the key to its future and to realizing returns for all stakeholders. Looks forward to announcing a transaction in the near term.
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Crossword Cybersecurity PLC - London-based cybersecurity solutions provider - Reports revenue in the six months to June of £1.9 million, up 27% from £1.5 million the year prior, and a 23% jump in the cost of sales to £1.6 million from £1.3 million. Pretax loss widened to £2.5 million from £2.3 million before. Basic loss per share totalled 3 pence compared to 2p last year. States firm has a strong sales pipeline the continued conversion of which will drive revenue to achieve market expectations for the full year to December 31. Targets a drop by half in administrative expenses as a percentage of revenue in 2024 compared to 2022. Believes focus on margin improvement will ensure that there is a clear, carefully managed route to achieving profitability in the medium term. Projects revenue growth rate for 2024 to be circa 30%, to achieve total revenue of circa £8 million in 2024. Aims to deliver earnings before interest, tax, depreciation and amortisation and cash breakeven on a monthly basis during the second half of 2024.
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Kistos Holdings PLC - London-based energy industry investor - Reports actual revenue in the six months to June 30 of £105.1 million, down 24% from £137.5 million the year before, due to lower average commodity prices. Pretax loss totalled £5.2 million swinging from a pretax profit of £102.5 million. Basic earnings per share was 16 pence compared to 63p. Total production reached 1.7 million kilo barrels of oil equivalent, down 25% from 2.2 million kboe last year.
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Phoenix Copper Ltd - Base and precious metals explorer in the US state of Idaho - Reports pretax loss in the six months to June 30 of $625,369 narrowed from $1.1 million the year prior. Administrative expenses fell to $617,788 from $1.1 million before. Loss per share totalled $0.50 compared to $0.86. States period-end net assets of $37.39 million, little changed from $38.22 million last year. Currently finalising the documentation to create a class of authorised bonds in a total amount of $300 million, and to admit them to trading on The International Stock Exchange in the Channel Islands, as a prelude to closing an initial tranche to raise up to $80 million. ‘We have been in discussion with a number of interested parties for some time, and we are hopeful that we can finally close the book in the near future,’ company says.
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Reabold Resources PLC - Oil and gas company with projects in the UK, US and Romania - Reports zero revenue in the six months to June 30 compared to £560,000 last year while administration expenses rose to £1.1 million from £722,000. Pretax loss widened to £3.7 million from £2.7 million while loss per share of 4 pence, up from 3p. Sachin Oza and Stephen Williams, co-chief executives commented: ‘The next 12 months will be exciting for Reabold with anticipated newsflow on our key assets and the expected receipt of the £9.5 million contingent payment from Shell (as the balance of the consideration for the Victory project).’
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ADM Energy PLC - London-based natural resource investor - Reports zero revenue in the six months to June 30 compared to £600,000 the year prior, while administrative expenses more than halved to £292,000 from £897,000. Pretax loss narrowed to £460,000 from £834,000 with basic and diluted loss per share of 0.1 pence compared to LPS of 0.3p. Stefan Olivier chief executive said: ‘We are excited to forge ahead with plans to drill three wells at the Altoona Lease which sits within a major US field, the Midway-Sunset Oilfield.’
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