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EARNINGS AND TRADING: JLEN amends earnings; Thor quarter profit falls

27th Nov 2023 20:55

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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JLEN Environmental Assets Group Ltd - Guernsey-based environmental infrastructure investment fund - Corrects its earlier announcement that net asset value total return for the six months that ended September 30 is 0.3%, not 1.4% as reported earlier. Earlier, it said net asset value decreased during its latest half year, but that it remains on track to meet its full-year dividend target. NAV at September 30 was 119.7p per share, down 2.8% from 123.1p per share at March 31. Its portfolio evaluation at September 30 was GBP898.9 million, slightly up from GBP898.5 million at March 31. JLEN also declared a total dividend of 3.78p per share for the six months that ended on September 30, up from 3.57p for the same period in 2022. The company believes it is on track to meet its 7.57p target for the year ending on March 31, 2024, up from 7.14p for the prior year.

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Thor Explorations Ltd - Vancouver, British Columbia-based mineral exploration company - In the third quarter of 2023, net profit falls to USD2.3 million from USD7.6 million a year earlier. Revenue falls to USD36.6 million from USD55.7 million. Recovers 19,104 ounces of gold during third quarter, down from 23,078 ounces a year earlier. Says gold production targets on track for 2023 guidance, with full-year outlook of 85,000 ounces. Expects completion of pre-feasibility study workstreams regarding Douta project in the first quarter of 2024. Expects to complete Douta resource update by end of 2023. Chief Executive Officer Segun Lawson says: "Whilst the lower grades have led to lower revenue and profits in the quarter, we have maintained good levels of positive cash flow. We anticipate a stronger financial performance in the final quarter as the mine grade increases."

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Quantum Exponential Group PLC - London-based quantum technology investment firm - Notes portfolio company Oxford Quantum Circuits, which specialises in quantum compute-as-a-service, launches USD100 million series B fundraise. Quantum Exponential 0.3% of OQC and says the Series B fundraise is being led by SBI Investment of Japan. OQC also launches Toshiko, which it claims is the "world's first enterprise ready quantum computing platform", says Quantum Exponential. Chief Executive Officer Steven Metcalfe says: "As early investors, we are absolutely thrilled to follow the progress of OQC and witness just how much the company has achieved in a relatively short space of time. We believe that innovators such as OQC are pivotal to the integration and adaptation of quantum computing globally and are absolutely delighted to be part of its journey."

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CRH PLC - Dublin-based building materials - Non-Executive Director Richard Fearon buys 10,000 shares at USD61.37 each in New York on Wednesday last week. Total aggregate value is USD613,700.

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By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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