The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Block Energy PLC - exploration and production company focused on Georgia - Swings to a pretax loss of $432,000 in the first half of the year from $627,000 profit a year prior, and revenue drops 15% to $3.9 million from $4.6 million the year before. Cites lower-than-average oil prices. Looking ahead, says it remains ‘on track to deliver its best full-year financial results in history.’
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Autins Group PLC - Rugby, Warwickshire-based industrial materials’ technology business that specialises in the design, manufacture, and supply of acoustic and thermal products - Sells 50% interest in Indica Automotive Ltd joint venture for £300,000 to partner Indica Industries PV. Says this is due to its ‘restructured approach’ to sourcing of foam products in the UK.
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Hellenic Dynamics SA - London-based cultivator and supplier of tetrahydrocannabinol-dominant strains of medical cannabis flowers - Posts effective completion of phase one development at its cultivation facility in Greece and expects first cultivation on or before October 10 under Elgo Dimitra’s license, which it signed a memorandum of understanding with back in March. Says it expects to be able to expand total cultivation area. Also inks deal with Nine Lions Bioscience Corp, a Alberta, Canada-based cannabis genetics breeder, to import and cultivate a ‘selection of [high-Tetrahydrocannabinol] medical cannabis strains’ at its Greece facility. Chief Executive Officer Davinder Rai says: ‘Our partnerships with Elgo Dimitra and Nine Lions further solidify our presence and capabilities in the rapidly growing European medical cannabis industry.’
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First Class Metals PLC - Blackburn, England-based mineral exploration company focused on projects in Ontario, Canada - Pretax loss for the first half of the year widens to £744,400 from £159,778 a year prior, as administrative expenses climbed to £693,460. Looking ahead, says completion of fund raise back in June means it is ‘funded to continue to drive through the exciting planned workstreams ahead.’
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CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Says brine samples collected from first well at the Llamara project were depleted in lithium and surface samples show minor lithium enrichment and high-grade boron. Meanwhile, results from the second batch of sampling are pending. Also begins geophysics programme at Salar de Atacama basin.
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Armadale Capital PLC - Africa-focused natural resource projects investor based in London - Reports gain on investments in the first half of the year £456,000 compared to a loss of £1,000 a year ago. Swings to £291,000 pretax profit from £152,000 loss.
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