30th Jun 2025 13:09
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
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River Global PLC - London-based asset and wealth management firm formerly known as AssetCo PLC - Narrows pretax loss to GBP1.6 million in the six months to March 31 from GBP2.6 million a year before, as administrative expenses fall to GBP9.2 million from GBP10.9 million and loss before interest, tax, depreciation, and amortisation shrinks to GBP200,000. Revenue dips to GBP6.4 million from GBP6.9 million. "Profitability for the consolidated group is tantalisingly close but frustratingly still just out of our grasp," says Executive Chair Martin Gilbert. Separately says it will acquire Devon Equity Management Ltd for up to GBP2.5 million in shares, depending on revenue. Acquisition expected to be earnings enhancing after one year. No longer expects to reach run-rate profitability this year. Devon managed GBP835 million in assets as of May and generated GBP2.1 million in operating profit in 2024.
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SIMEC Atlantis Energy Ltd - Scotland-based owner and developer of sustainable energy projects - Swings to pretax loss of GBP12.6 million in 2024 from a GBP22.8 million profit in 2023, largely due to GBP24.9 million in non-cash project revaluations and deferred tax liabilities. Revenue slips to GBP14.4 million from GBP15.3 million. Earnings before interest, tax, depreciation, and amortisation fall to GBP7.9 million from GBP8.3 million. Ends year with GBP6.0 million in cash, up from GBP4.2 million. Maintains debt at GBP13.7 million. Highlights operational progress at Uskmouth sustainable energy park, including full ownership of the flagship 240MWh AW1 battery project, and advances at MeyGen tidal array, which reached over 6MW in offshore generation and surpassed 79GWh in output. Post-period, secured GBP8.5 million loan for AW1 and entered joint venture with Econergy for 500MWh AW2 project. Chair Duncan Black says battery strategy will be "transformational" for the business. Chief Executive Officer Graham Reid says the business "has met or exceeded all of its objectives".
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Secure Property Development & Investment PLC - South eastern Europe-focused commercial property investor - Reports pretax profit of EUR13.2 million for 2024, up from EUR9.4 million in 2023, despite a fall in operating income to EUR1.3 million from EUR1.4 million. Says final step in multi-year Arcona Property Fund NV transaction was completed, receiving APF shares valued at EUR12.5 million. Last prime Ukrainian asset transferred in December. Focus now shifts to monetising remaining properties and reassessing growth strategy.
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Power Metal Resources PLC - metals exploration company with projects in North America, Africa, Saudi Arabia and Australia - Swings to pretax profit of GBP3.9 million in the 15-month period to December 31, from a loss of GBP1.3 million the prior financial year ended September 30, 2023. Revenue increases to GBP200,000 from GBP78,000, while fair value gains on investments rise to GBP8.9 million from GBP1.6 million. Operating expenses widen to GBP8.0 million from GBP2.8 million. Says performance reflects successful implementation of its incubator model focused on project generation and value crystallisation. Highlights operational progress across its global portfolio, including uranium in North America, lithium in Saudi Arabia, and gold and base metals in Africa and Australia. Says the board "remains confident that with ongoing operations and forecast improvements in the junior resource and commodity market conditions, the company is in an excellent position to deliver value to shareholders."
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Angus Energy PLC - UK-focused onshore oil and gas developer - Reports pretax profit of GBP757,000 for the six months to March 31, down from GBP5.8 million a year prior. Revenue declines to GBP11.3 million from GBP12.1 million, with Ebitda at GBP6.9 million. Production comes from Saltfleetby Gas Field and Brockham Oil Field, with booster compressor installation improving output. Says it is in early discussions regarding a potential reverse takeover and is negotiating debt restructuring with Trafigura. Chair Krzysztof Zielicki says the company is progressing both organic and inorganic growth opportunities and aims to stabilise and optimise production.
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OptiBiotix Health PLC - York, England-based life sciences firm - Narrows pretax loss to GBP1.9 million in 2024 from GBP2.0 million a year earlier, as revenue climbs 35% to GBP870,000 from GBP644,000. Order intake for 2024 totals GBP1.0 million. Sales rise across Ecommerce, India and Asia, while operating costs remain stable. Company anticipates lower marketing spend in 2025 and reports first quarter of financial 2025 order book already ahead of first-half financial 2024 sales. CEO Stephen O'Hara says growth momentum is building, supported by new product launches, geographic expansion and a strong balance sheet, adding: "All parts of the business should become profitable and the group generate positive cashflow."
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Shuka Minerals PLC - Africa-focused mine operator and developer - Posts widened pretax loss of GBP2.0 million for 2024, from GBP1.7 million in 2023, as revenue plunges to GBP2,305 from GBP194,346. Cost of sales narrows to GBP196,596 from GBP369,182. Performance reflects continued operational challenges at the Rukwa coal mine in Tanzania and strategic restructuring at the board level. Company highlights progress toward restarting production at Rukwa and advancing the proposed acquisition of Leopard Exploration and Mining, which owns the historic Kabwe lead-zinc-silver-vanadium mine in Zambia. Chair Quinton Van Der Burgh says: "2024 was certainly a challenging period... but outweighed by the strong steps taken to refocus the company for the future."
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Great Western Mining Corp PLC - Nevada-focused gold, silver and copper explorer - Posts widened pretax loss of EUR1.8 million in 2024 from EUR989,812 the year prior, including an impairment charge of EUR781,610 on relinquished claims. Reports no revenue for the year, unchanged. Administrative expenses edge down to EUR971,913 from EUR994,246. Says recent share placing raised GBP1.25 million to fund new exploration campaigns across its copper, gold and tungsten prospects. Executive Chair Brian Hall says company is "now in a position to reset our exploration programme" following the fundraising and looks ahead to drilling at Rhyolite Dome and West Huntoon copper.
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By Eva Castanedo, Alliance News reporter
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Related Shares:
AssetcoSIMEC Atlantis EnergySecure PropPower MetalAngus EnergyOptiBiotix HealthShuka MineralsGreat Western