The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Ariana Resources PLC - London-based mineral exploration and development company with gold mining interests in Turkey, Cyprus and Kosovo - In the six months that ended June 30, pretax profit falls to £337,000 from £2.9 million a year earlier. This is because share of profit of associate accounted for using the equity method fell to £737,000 from £2.5 million, while administrative costs net of exchange gains were £666,000, swinging from a positive £611,000. Managing Director Kerim Sener says: ‘Looking back over the past six months, we have conducted significant operational activity, as highlighted above, which underscores the huge amount of work being undertaken across our projects. We have remained committed to our strategy to pursue targeted exploration and development programmes across our portfolio, systematically de-risking our pipeline of robust assets, and propelling them up the value curve. We look forward to providing company updates for the second half of the financial year, as we continue to operate an exciting pipeline of projects in gold and copper within southeast Europe and as we look to grow our portfolio further afield.’
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Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - In the financial year that ended June 30, pretax loss narrows to £4.2 million from £4.3 million a year earlier. Posts no revenue, unchanged, so loss arises from various costs. Managing Director Tony Gilby says: ‘The past year has seen the company make good progress toward the target of supplying electricity into the power grid in Botswana. The transmission line work is nearing completion, substations are in progress and new wells are being completed ahead of expected gas flow. It has not been easy and has taken a lot of time, effort and money to get to this stage. There remain significant challenges ahead. Nonetheless, I believe gas will continue to play a very important, if not vital role for many years to come in order to meet increasing energy demand in southern Africa. We look forward to moving Tlou Energy’s Lesedi project into production.’
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Neometals Ltd - London-based sustainable battery materials producer - In the financial year that ended June 30, pretax loss widens to $36.2 million from $16.2 million a year earlier. This is on swinging to an impairment expense on investment in associate of $1.3 million from a reversal of $7.1 million, alongside a one-off impairment expense on investment in joint venture of $2.7 million and share of loss in joint ventures widening to $7.3 million from $872,667. Employee expenses widen to $11.2 million from $8.8 million. Chair Steven Cole says: ‘Strategically, the global drive to mitigate climate change has continued to put the spotlight squarely on sustainability, the energy transition and circular economics. The company’s three core projects ([lithium-ion battery] recycling, vanadium recovery and lithium chemicals) are well positioned to be the beneficiaries of this drive, with myriad European and North American policy, regulation and industry tailwinds supporting the Neometals strategy.’
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Secure Property Development & Investment PLC - South-eastern Europe-focused commercial property investor - In the six months that ended June 30, swings to profit before tax and foreign exchange differences of €214,409 from a loss of €669,641 a year earlier. Swings to pretax profit after foreign exchange differences of €180,023 from a loss of €680,706. Income grows to €788,075 from €509,750. Chair Micheal Beys says: ‘In 2023 to date, we have continued to make progress on the company’s strategy of monetizing our assets. While the process of transferring several Ukrainian assets is progressing slowly, as a result of the ongoing war, we continue to work towards overcoming this and aim to finalise all transfers to close Stage 2 over the coming months. In addition, implementation of the announced [human resources] and office cost optimization measures has taken effect resulting in significant annual reductions in costs. As one of the largest shareholders in [Ukraine asset] Arcona [Property Fund NV] through the combination of asset portfolios, we continue to believe in the value being created for SPDI shareholders.’
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MobilityOne Ltd - e-commerce platform provider - In the six months that ended June 30, pretax profit shrinks to £5,914 from £522,561 a year earlier, despite revenue rising to £121.5 million from £113.4 million. Cost of sales keeps pace with rising revenue, rising to £115.4 million from £107.1 million, while administrative expenses rise to £5.9 million from £5.5 million. Says: ‘The group’s business activities are still predominately concentrated in Malaysia. Other than the group’s main business activities of mobile phone prepaid airtime reload and bill payment in Malaysia, the group’s other businesses are expected to remain insignificant in 2023.’ Also acquires 49% stake in Sincere Acres Sdn Bhd via its wholly-owned, Malaysia-focused subsidiary MobilityOne Sdn Bhd for MYR30.0 million, or £5.2 million. Sincere is an investment holding company with its sole business activity comprising of owning a 100% equity interest in Hati International Sdn Bhd. Hati is a healthcare information systems provider in Malaysia focused on healthcare software development and information technology. MobilityOne Group Chief Executive Officer Dato’ Hussian A Rahman says: ‘I am confident of the synergistic benefits arising from the proposed acquisition and Hati’s long-term prospects in the healthcare information systems industry.’
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Tekcapital PLC - London-based intellectual property investment company - In the six months that ended June 30, swings to pretax loss of $10.1 million from a profit of $6.2 million a year earlier. This is due to changes in fair value on financial assets at fair value though profit or loss swinging to a negative $9.3 million from a positive $7.1 million. Revenue from services rises to $349,515 from $263,328. Chair Clifford Gross says: ‘We are glad to report continued significant development of the group’s portfolio companies, all of which were built in-house. Whilst capital markets have been choppy in 2023 and this has resulted in unrealised depreciations in our portfolio, the view from the bridge is bullish, as we clearly see the potential for significant growth and performance of our unique and rapidly developing portfolio companies.’
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