26th Jun 2025 18:59
(Alliance News) - 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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Cavendish PLC - London-based investment bank - Reports revenue of GBP55.6 million in the year ended March 31, up 16% from GBP48.1 million a year prior. Pretax profit is GBP748,000, swung from loss of GBP4.3 million. Says revenue growth is driven by private mergers and acquisitions, debt financing and equity capital markets teams. Notes 55% drop in public M&A revenues as activity dropped in 2025, largely offset by a 23% rise in equity issuance, which it calls "higher quality and more sustainable". Says political volatility in the US has prompted a "reappraisal of the benefits of diversification," as a rotation out of the US has started, exemplified by weakness in the US Dollar and recent relative performance of European and UK equities. Amid "tentative signs of incremental asset allocation to UK equities", sees "significant opportunities in the year ahead" based on a combination of continued diversification and the compelling valuation of the UK small and mid-caps. Total dividend of 0.8 pence climbs from 0.25p a year ago.
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Spiritus Mundi PLC - special purpose acquisition vehicle focused on the clinical diagnostics sector in Europe and Asia - Reports financials for six months to March 31. Pretax loss widens to GBP333,866 from GBP230,292 year-over-year, with administrative expenses accounting wholly for the loss. Says it remains committed to its strategy and eyes closing the acquisitions of ResteLab and Restalyst, and seeks a capitalize raise primarily through the support of company creditors.
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Atome PLC - Leeds, England-based developer of international green fertiliser projects - 2024 pretax loss widens to USD7.1 million from USD6.9 million a year prior. Records USD6.4 million in development costs compared to USD4.8 million a year ago. Administrative expenses decline to USD6.9 million from USD7.3 million. Chief Executive Officer Olivier Mussat says: "This has been a period of resolute execution for Atome, marking our transition from development-stage company to a project-ready organization on the cusp of delivering what we believe will be the world's first industrial-scale zero carbon green fertiliser facility, Villeta in Paraguay. The plant will generate production without reliance on subsidies, close to key demand markets, enabling major food producers to decarbonise their supply chains." Operational highlights this year at Villeta include completion of the front-end engineering and Design Study and the signing of a 30-year free trade zone agreement. Says is currently negotiating project finance at Villeta and aims to begin work in 2025.
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Petro Matad Ltd - petroleum exploration, development and production company in Mongolia - Records 2024 pretax loss of USD10.9 million, narrowed from USD5.9 million in 2023. During the year it made a successful start of operations at the Heron-1 well and the suspension, pending further analysis, of Heron-2 after productive potential was found to be significantly lower than at Heron-1. Says renewables joint venture, Sunsteppe, has "made good progress" in 2024. So far in 2025, highlights oil sales agreement with neighbouring operator PetroChina, with first payment receive in June. Says a 30% revenue withholding pending confirmation on certain potential concerns raised by PetroChina is being addressed as a priority. Work on Block VII, awarded by the Mongolian authorities in January is "underway with encouraging results so far".
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Manolete Partners PLC - Buckinghamshire, England-based insolvency litigation financing firm - Pretax profit in year ended March 31 climbs 30% to GBP1.3 million from GBP1.0 million a year prior, as revenue rises 16% to GBP30.5 million up from GBP26.3 million. CEO Steven Cooklin says: "We are delighted to report our highest ever revenues of GBP30.5 million for [2025] and a strong increase in profitability, well ahead of market forecasts. Cash generation has also been particularly impressive with a 45% increase in gross cash receipts for the year. In [2025] we also recorded lifetime highs in the number of new case referrals from Manolete's nationwide proprietary referral network." Firm says it's off to a "strong start" in 2025 with new case signings already 27% higher than the entire first quarter of last year. "The continued strong tailwinds of challenging market conditions faced by many UK corporates provide the board with optimism for further good progress in the new financial year," it adds. Declares no dividend, unchanged from 2024, as priority is "to retain cash reserves for investment in current and future cases and further reduce net debt".
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By Aidan Lane, Alliance News reporter
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