22nd Dec 2023 20:45
(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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Gfinity PLC - London-based e-sports and gaming services firm - Reports revenue in the year to June 30 of GBP2.2 million, down 19% from GBP2.7 million the year prior. Pretax loss widened to GBP8.2 million from GBP1.5 million reflecting an increase in impairment charges to GBP6.0 million from GBP76,989. Loss per share totalled 0.42p compared to 0.13p before. Says it has been a difficult year as it transitioned from esports solutions and software development, to a pure play digital media company. "We have seen a nervousness from publishers to commit investment and advertising rates have been impacted across the whole of digital media," company adds.
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Andrada Mining Ltd - African technology metals mining company with a portfolio of mining and exploration assets in Namibia - Issues operational update for quarter ended November 30. Says all costs in the quarter decreased year-on-year due to the economies of scale from higher volumes and improved efficiencies. Although the operating cash cost per unit of production excluding selling expenses and costs including selling expenses decreased quarter-on-quarter remaining within the management guidance, the all-in sustaining cost was around 2% higher. The latter is expected to decrease to within management guidance as production volumes increase. Notes the combined cash and cash equivalent balance on November 30 was GBP21 million.
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Tekcapital PLC - London-based intellectual property investment company - Sees clear runway of growth for each of its portfolio companies in the coming year. Intends to maintain material holdings in select portfolio companies until feels sufficient value has been created to warrant crystallising value for shareholders. Chief Executive Clifford Gross comments: "Despite challenging macroeconomic conditions in 2023, we have never been as excited about the near-term commercial opportunities for our portfolio companies, and we expect to report significant additional milestones for them in the coming year."
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Ediston Property Investment Company PLC - Reports EPRA net asset value of 71.4 pence at September 30 down from 94.9p the year prior. Explains on September 29, the company sold its entire property portfolio to RI UK 1 Ltd, a wholly owned subsidiary of Realty Income Corp. As a result, at the reporting date, the company had no property assets and therefore, no property valuation was carried out at the period end.
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Kodal Minerals PLC - West Africa-focused mineral explorer and developer - Reports zero revenue in the six months to September 30, unchanged from the year before and other operating income of GBP158,138 compared to zero. Pretax loss was little changed at GBP508,739 compared to GBP490,856. "We have a very exciting period ahead of us as we move into the construction and production phase at the Bougouni Lithium project in partnership with the Hainan group," company says.
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Cellular Goods PLC - London-based cannabinoid skincare manufacturer and carbon sequestration service developer - Reports revenue in the year to August 31 of GBP67,236, more than double GBP28,904 the year before. Pretax loss narrowed to GBP3.3 million from GBP6.0 million and loss per share totalled 0.615 pence compared to 1.183p. Sales growth was driven by the company's refocused marketing strategy, to progress near-term sales with lower acquisition costs, and expansion of its 'Look Better' Rejuvenating skincare range. Growth momentum in sales for the wellness division in the second half of the financial year stabilised, though current trading remains encouraging.
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Plexus Holdings PLC - AIM-quoted oil and gas engineering services business headquartered in Aberdeen - Updates on trading at the annual general meeting. "Looking ahead, there is good momentum in the business going into the new calendar year and our outlook is positive with a number of positive tender opportunities underway in relation to our recently re-entered wellhead rental for exploration drilling from Jack-up rigs," company says.
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By Jeremy Cutler, Alliance News reporter
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