10th Apr 2025 14:28
Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Devolver Digital Inc - Austin, Texas-based video game publisher - Pretax loss narrows to USD6.7 million during 2024 from USD11.7 million, as revenue grows 13% to USD104.8 million from USD92.4 million in 2023. Cost of sales increases 10% to USD74.7 million from USD67.8 million. It swings to positive earnings before interest, tax, depreciation and amortisation of USD5.1 million from a loss of USD500,000 a year prior. "In 2024, Devolver returned to adjusted Ebitda profitability, driven by successful new releases like The Plucky Squire and BAFTA-winning Neva, strong back catalogue revenue growth from titles such as Astroneer, and improved platform deals," says Chief Executive Officer Harry Miller. "Looking ahead to 2025, Devolver has a strong pipeline of at least 13 new releases in 2025... We reiterate guidance for FY 2025 with expected sequential improvements through 2025 and 2026, as we continue to execute on our strategic plan and drive long-term growth and success." Devolver Digital anticipates single-digit revenue growth in 2025, as well as an increase in adjusted Ebitda, which is expected to be second-half weighted due to game release schedules.
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Proteome Sciences PLC - London-based protein-focused drug development - Pretax loss widens to GBP3.2 million during 2024 from GBP2.4 million in 2023, as revenue declines 2.0% to GBP4.9 million from GBP5.0 million. Cost of sales increases 24% to GBP4.2 million from GBP3.4 million, while administrative expenses are reduced by 9.1% to 3.0 million from GBP3.3 million. "The back end of 2024 showed a good recovery from the impact of the global downturn in the biotech and pharma markets over the previous year. Following the considerable increase in customer orders and services in the second half of 2024 we are pleased to reiterate that the momentum from the second half of last year has continued into 2025 with the pipeline now extending well into 2026," says Executive Chair Christopher Pearce. "We are optimistic that our proteomics business has gone through a significant inflection point and that it can deliver substantial increases and returns in the future."
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Savannah Resources PLC - Europe-focused lithium producer - Pretax loss during 2024 widens to GBP4.4 million from GBP3.5 million, as administrative expenses increase 23% to GBP4.3 million from GBP3.5 million. Savannah Resources continues to report no revenue, and its foreign exchange loss for the year multiplied to GBP438,018 from GBP81,116. "Savannah took a number of very important steps towards the development of the Barroso lithium project during 2024, which will make 2025 a pivotal and exciting year for the company" says Chief Executive Officer Emanuel Proenca. "Looking ahead, we will be accelerating our work and continuing to expand our team as we progress towards completion of the [definitive feasibility study] and submission of the Recape report by the end of the year. Ahead of a final investment decision on the project next year, we will be also preparing for the project's construction financing and engaging with the European Commission to leverage the support which is to be made available to strategic projects such as ours."
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Sound Energy PLC - gas development projects in Morocco - Pretax loss widens to GBP126.6 million during 2024 from GBP6.9 million in 2023, due to a one-off impairment on development assets & exploration costs of GBP122.0 million. Sound Energy continues to generate no revenue, while administrative expenses double to GBP4.6 million from GBP2.3 million. ''Significant progress has been made in advancing the sustainability of the company through the transformational transaction with Managem which brings a substantial co-venturer that will operate the [phase 1 Micro LNG] project, provide Sound Energy's equity funding to take [final investment decision] on the phase 2 pipeline project and fund two exploration wells for Sound," says Executive Chair Graham Lyon. "Sound is now able to evaluate further growth opportunities, either within the current asset base or externally whilst seeking to further strengthen its portfolio and balance sheet."
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By Emily Parsons, Alliance News reporter
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