11th Sep 2025 17:06
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Earnz PLC - Cheltenham, England-based and decarbonisation-focused energy services company - Reports revenue from continuing operations of GBP4.7 million for the six months ended June 30, having generated no revenue the year before. Pretax loss narrows to GBP372,000 from GBP907,000. Earnz held GBP2.0 million cash at June 30, down from GBP3.1 million. Adjusted earnings before interest, tax, depreciation and amortisation, which account for exceptional items including acquisition costs, swung to profit of GBP83,000 against a GBP197,000 loss. Acquisition costs, including the purchase of A&D in July, fell to GBP174,000 from GBP580,000 for the period. Earnz believes the full-year outlook is "encouraging", highlighting a "strong pipeline of target acquisitions" and ongoing momentum "with high revenue visibility from long-term projects and contracts". Also on Thursday, Earnz announces the raising of GBP1 million in gross proceeds through a placing of 13.9 million shares at 7.2 pence each. Says it will use the funds "to extend [its] reach across the UK", including the working capital of two new subsidiaries being set up in the Midlands and Yorkshire "to capitalise on significant opportunities in these regions". Issue price represents an approximate 44% premium to Earnz's closing price of 0.05p per share on Wednesday. "We are delighted to see another great financial commitment from our major shareholders," comments Chair Bob Holt.
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Tavistock Investments PLC - Ascot, England-based financial advice and investment management firm - Announces strategic refocus to target the "neglected 91%" of UK consumers lacking access to the "full financial advice" received by "only the most privileged", alongside consumers "who are no longer being supported by other advisory firms". Says there is currently a "lack of meaningful competition" in this area and that its Employee Benefits business gives "access to over 700,000 potential clients". Also announces its acquisition of Lifetime Financial Management Intermediaries Ltd, buying a 76.59% stake with Lifetime Founder & Chief Executive Ian Dickinson retaining his 23.41% stake. A put and call arrangement gives Tavistock the opportunity to acquire Dickinson's shares later, "based on a range of multiples of Lifetime's Ebitda". Initial cash consideration totals GBP3.7 million, with a further GBP2.3 million for "debt reduction and strategic leadership incentives". Additional payments are to follow over four years based on Lifetime's Ebitda. Maximum consideration is capped at GBP9.9 million. Tavistock says Lifetime's financial advisory model "breaks down the traditional barriers to both financial advice and wealth creation, which will enable Tavistock to provide its services in a highly cost-effective manner."
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Atlantic Lithium Ltd - Africa-focused lithium exploration and development firm - Pretax loss for the year ended June 30 has narrowed to USD6.5 million from USD12.4 million the year before. Fair value gain on financial liabilities measured at fair value increased to USD683,218 from USD413,780. Expenses include share-based payments falling to USD1.2 million from USD4.5 million. Employee benefits costs decreased to USD1.9 million from USD2.8 million, administration expenses decreased to USD602,731 from USD897,099, and consulting costs fell to USD772,245 from USD1.3 million. Operational highlights include "the award of several key critical approvals" for the Ewoyaa lithium project in Ghana; increasing the Ewoyaa mineral resource estimate to 36.8 metric tonnes at 1.24% lithium; and the discovery of spodumene across the Agboville and Rubino licences in the Ivory Coast. CEO Keith Muller acknowledges the "significantly weakened lithium market" but says that "the outlook for the year ahead for Atlantic Lithium is very positive." He continues: "Ewoyaa remains one of the most advanced, pre-construction hard rock lithium assets globally and, underpinned by strong demand, we believe that the project's timeline to production aligns well with an anticipated recovery in the market."
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New Frontier Minerals Ltd - minerals exploration company in Australia with exposure to copper, heavy rare earth minerals and uranium - Appoints Queensland-based GeoDrill Australia, which has "a strong track record of servicing exploration projects", as contractor to undertake the maiden reverse circulation drilling programme at the Harts Range Project in Australia's Northern Territory. Preparations like site works and drill target planning are underway and the first holes will be at the Bobs and Cusp prospects. New Frontier also says all environmental and regulatory applications for land access have been lodged, with drilling to start upon receipt of the final approvals. Says Harts Range is a potential major source of US critical minerals, noting the presence of 17 of the 54 commodities on the US Department of the Interior's draft 2025 List of Critical Minerals.
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Amala Foods PLC - cash shell seeking a reverse takeover - Pretax loss for the year ended March 31 has narrowed to GBP200,515 from GBP424,617 in financial 2024. Administrative expenses decreased to GBP108,115 from GBP233,585 and the prior year's results included a GBP101,189 impairment expense. Notes that a potential reverse takeover transaction with Healthcare Medical Plus Pte Ltd, announced in 2023, lapsed in late July this year after the UK Financial Conduct Authority did not grant an extension for the necessary transition period. Consequently, Amala's application for the re-admission of shares has lapsed and it "can no longer benefit from the transitional provisions...that allowed the company to readmit to the Official List with a market capitalisation above GBP700,000 rather than above GBP30 million". "This is obviously extremely disappointing given the significant amount of time spent on the transaction," Chair Jonathan Morley-Kirk says. "The board will now seek to identify a new transaction."
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Dewhurst Group PLC - London-based supplier of components to the lift, transport and keypad industries - Share cancellation from AIM takes effect from start of trading, as announced on Monday. Company announced plans to delist from AIM in early August and revert to operating as a private limited company, on the grounds that it was too small to be of interest to most UK investors. Transition included a GBP25 million cash return via a tender offer to shareholders wishing to exit.
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John Wood Group PLC - Aberdeen, Scotland-based oilfield services and engineering consulting firm - Announces publication of scheme document relating to its planned acquisition by Sidara Ltd, an entity controlled by Dar-Al Handasah Consultants Shair & Partners Holdings Ltd. Sidara's offer is worth 30p per share, valuing John Wood at around GBP210 million, and Sidara intends to provide an additional USD450 million capital injection. John Wood recommends that shareholders approve the acquisition. They will vote on the deal at a court meeting and general meeting on November 12, with the scheme expected to take effect in the first half of 2026.
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Cornish Metals Inc - tin mining firm developing the South Crofty project in Cornwall, England - Says excavation of the new process plant area started last month as planned and is currently in its initial phase, "which includes the topsoil removal and the handling and disposal of organic material in compliance with environmental regulations". Says the demolition of the old north winder house and dismantling of the winder have commenced, with the new building set for construction in the coming months. Company has ordered a new production winder from Qualter Hall. Furthermore, Cornish says work on the mid-shaft pump station is progressing as planned. Work area is secured and it has completed stabilisation of the pump station's underground chamber. "Removal of the old pumps, pipes and steelwork is underway in preparation for lifting to surface that will then enable the installation of new permanent pumps," Cornish adds.
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By Emma Curzon, Alliance News reporter
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Related Shares:
New Frontier MineralsEarnz PlcTavistockAtlantic LithiumAmala Foods PlcDewhurstWood Group (J)Cornish Metals