1st Oct 2026 18:07
(Alliance News) - The following is a round-up of earnings reports by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Africa Opportunity Fund Ltd - Closed-ended investment fund focused on Africa - Reports results for the first half of 2026. Net asset value per share is USD2.39 as of June 30, up 58% from USD1.51 at December 31. Company says its portfolio benefited from stable to mildly depreciating African currencies, noting that the Ghanaian cedi depreciated by 11%. Also notes that Ghana's gold and cocoa export receipts rose by 49% and 6% year-on-year, respectively, while its trade balance rose to 7% of gross domestic product. Inflation "declined slightly" to 5.3%, and its central bank's real monetary policy rate fell to 8.7%, in June. Enterprise Group's share price more than doubled, in both GHS and USD, during the period. "If inflation and interest rates remain close to current levels in Ghana, Enterprise PLC should be able to improve its profitability, increase its dividend, and be rewarded with a materially higher valuation," Africa Opportunity says. Its investment in Nigeria's Seplat Energy PLC delivered an 83% total return due to higher oil prices; the Zimbabwean currency "enjoyed a placid H1"; and the Nairobi Stock Exchange delivered a 20% total return while "Kenya Power's shares enjoyed a decent H1 performance, with a total return of 28%". Africa Opportunity's first-half net gains on investment in subsidiaries surged to USD10.4 million from USD445,202 the year before. Total income for the period increased to USD10.1 million from USD156,810.
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Technologies New Energy PLC - London-based energy company supporting decarbonisation projects - Reports revenue of EUR81,151 for the first half of 2026, up 25% from EUR64,915 the year before, and "generated principally by Technologies New Energy SA". Pretax loss narrows to EUR376,551 from EUR1.6 million. Administrative expenses fall 31% to EUR197,536 from EUR284,725. Company also notes that the first half of 2025 included a non-cash EUR1.2 million reverse acquisition listing expense. Excluding this, the H1 2025 loss was EUR352,371. Its operational highlights for the latest half-year, meanwhile, include the continued development of its Negative-C portfolio and energy-transition activities, including biomass-to-sustainable fuel and battery energy storage system projects; the acquisition of a 90% interest in Cleversearch Lda in February; and expanding its activities into data centre power infrastructure. Looking ahead, Executive Chair Jose Meneses da Silva Moura says: "The group remains focused on progressing its portfolio of energy-transition projects, particularly across sustainable fuels, biomass-to-power and data centre power infrastructure, while continuing to develop its established advisory, engineering and contracting activities."
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Real Estate Investors PLC - Midlands-focused real estate investment trust - Reports revenue of GBP4.6 million for the six months ended June 30, down 5.1% from GBP4.8 million the year before. Swings to pretax loss of GBP1.3 million, against a GBP329,000 profit, due to a GBP2.5 million non-cash revaluation deficit against the prior year's GBP762,000. Underlying pretax profit, which excludes profits or losses on revaluation, sales of properties, interest rate swaps and short-term incentive plan provisions, decreases to GBP1.3 million from GBP1.5 million. Company says it repaid GBP3.3 million of debt during the period, reducing its total borrowings to GBP30.9 million from GBP34.2 million for 2025. Declares dividend of 0.75p for the first half, down 6.3% from 0.80p the year before. "We continued to experience a sustained period of investment inactivity and poor investor appetite during the first quarter, in particular for the office sector," says Chief Executive Paul Bassi. "Despite this market backdrop and despite a slow start to sales in the first half of the year with GBP1.7 million legally completing, Q3 saw an improved momentum in sales, with GBP9 million completed or unconditionally exchanged. We have an additional GBP6.2 million of disposals in solicitors' hands which is set to rise further. These, together with further planned sales, will repay our existing debt." Notes that the sales programme "will not be completed within the previously planned timeframe," thanks to "ongoing political and economic uncertainty and interest rate volatility".
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Potentially AI PLC - London-based artificial intelligence company, formerly named Tiger Alpha PLC - Releases results for the first six months of 2026. Remains non-revenue-generating, unchanged from the year before. Pretax loss widens to GBP1.1 million from GBP389,485. Potentially AI books a one-off GBP268,156 loss on disposal of digital assets and tokens, and a GBP152,639 loss on fair valuation movement in investments, against the prior year's GBP295,051 gain. Administrative expenses rise 14% to GBP705,253 from GBP617,711. "The period since the publication of the company's previous financial results on 17 June 2026 has been one of significant change and progress," Non-Executive Chair Brian Stockbridge says, noting the reverse takeover of Potentially Ltd. "Since the reverse takeover completed after the end of the half year, the financial statements do not reflect the re-capitalisation of the company or the acquisition, which will be shown in our next full year results," he notes. Looking ahead, he says: "Following the acquisition, the company is now focused on the development of Potentially's aggregator infrastructure for the emerging AI economy...The completion of the acquisition, fundraise and re-admission has left the company in a significantly different position from that reported in its previous financial results. We now have a new business, a strengthened board and the funding in place to progress our strategy."
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Chariot Ltd - London-based energy company - Reports pretax loss of USD7.1 million for the six months ended June 30, widened from USD3.8 million the year before. Reports no revenue, unchanged on-year. 'Other administrative expenses' increase to USD7.2 million from USD3.8 million. CEO Adonis Pouroulis says this is "driven primarily by higher transaction costs relating to the part-financing of the Azule interest, for which a significant recovery is expected on completion of the transaction." The surge also reflects "Chariot's growth strategy in Angola and support provided as part of the second transaction under the framework agreement." Company notes that its March fundraise generated gross proceeds of USD24.3 million, enabling it to part-finance the first deal offshore Angola. This "has changed the trajectory of the business and we received strong endorsement to focus on the upstream and production assets going forward," Pouroulis says. Also going forward, "real barrels with real revenues will now underpin the business".
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Kodal Minerals PLC - West Africa-focused mineral explorer and developer - Reports administrative expenses of GBP1.2 million for the first half of 2026, up from GBP773,077 the year before. Swings to pretax profit of GBP3.5 million from a GBP3.7 million loss. Notes that the first half of 2025 included a GBP640,818 impairment of exploration and evaluation assets. Also books a GBP4.6 million share of associate profit, against the prior year's GBP2.4 million loss. "Kodal is in a strong financial position, supported by robust operating returns at Bougouni and high market demand for our spodumene concentrate," says Non-Executive Chair Robert Wooldridge. CEO Bernard Aylward says: "Looking ahead, we are systematically advancing planning for our phase 2 flotation processing plant to unlock the broader resource potential at the Boumou and Sogola-Baoule prospects. Engineering design, capital expenditure reviews, and ESIA updates are all progressing well. Supported by a solid financial platform, Kodal continues to evaluate new West African mining opportunities that leverage our strong cash balance and deep regional development experience."
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Power Metal Resources PLC - metals explorer with projects in North America, Africa, Saudi Arabia and Australia - Reports pretax loss of GBP403,000 for the first half of 2026, swung from a GBP5.2 million profit the year before. Reports no revenue, down from GBP45,000. Net assets total GBP25.1 million as of June 30, down from GBP25.9 million at December 31. Fair value gains through profit or loss for the first half fall to GBP135,000 from GBP8.2 million. "I have been pleased by the operational advances achieved across our portfolio thus far this year, building on the work of a momentous FY2025," CEO Sean Wade comments. "The Fermi Exploration team continues to deliver strong technical progress and encouraging results across its suite of highly prospective uranium licences. As we look to progress our drilling and exploration works, I expect to provide the market with further positive updates."
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By Emma Curzon, Alliance News reporter
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Africa Opp.Tech New EnergyREIPotentially AiChariotPower Metal Resources PLCKodal Minerals