Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

EARNINGS SUMMARY: Belluscura loss widens; Civitas Social ups payout

29th Jun 2023 13:17

(Alliance News) - The following is a round-up of earnings of London-listed companies, issued on Thursday and not separately reported by Alliance News:

----------

Belluscura PLC - Medical device developer focused on lightweight and portable oxygen enrichment technology - Reports pretax loss of USD8.2 million for 2022, widened from USD5.2 million in 2021. Revenue grows to USD1.5 million from USD420,000. Net cash at December 31 is down to USD2.0 million from USD15.9 million. Looking ahead, Chief Executive Officer Robert Rauker says trading in the first half of 2023 was in line with its expectations for all of 2023, with a significant second-half weighting anticipated. Starts pre-market launch of Discov-R, a portable oxygen concentrator. Notes progress on the CE and UKCA registration mark application for the X-Plor POC in the EU and UK by conducting a patient usability study. Says registration of X-Plor in China is progressing after the registration of its subsidiary Shenzhen Belluscura Technology Co Ltd.

----------

BSF Enterprise PLC - London-based investor in biotechnology and owner of cellular agriculture company 3D Bio-Tissues - For the six months that ended March 31, pretax loss widens to GBP649,059 from GBP291,553 a year prior. Administrative expenses balloon to GBP728,435 from GBP291,533. CEO Che Connon says the most recent half-year "has been one of significant progress on both technical and commercial fronts. Technical milestones have included us producing the UK's first 100% cultivated steak, an enormous step forward for our industry, as well as skin products thick enough to be used to make leather goods." Looking ahead, Connon says BSF Enterprise has a strong balance sheet, which will help its growth strategy.

----------

Civitas Social Housing PLC - Exeter, England-based real estate investment trust - Net asset value as at March 31 at financial year 2023 end falls 1.0% to 109.16 pence per share from 110.30p a year prior. Net rental income grows 3.9% to GBP52.7 million from GBP50.7 million. Dividend per share increased by 2.7% to 5.70p from 5.55p. Looking ahead, Chair Michael Wrobel says demand for the type of properties within its portfolio "remains strong with independent forecasts predicting that there will be continued growth for many years to come in the need for additional units of adapted accommodation."

----------

CloudCoCo Group PLC - London-based IT and communications for businesses and public sector - Pretax loss in six months ended March 31 narrows to GBP1.2 million from GBP1.5 million, as revenue climbs to GBP12.9 million from GBP11.6 million. Cost of sales increase to GBP8.6 million from GBP7.8 million. For second half of financial year, Chief Executive Officer Mark Halpin says trading has been encouraging despite wider economic headwinds. He adds: "We expect to see the benefits of our investments into sales and marketing begin to increase. We are maintaining our focus on driving cost savings and efficiencies and expect to see the results of the hard work carried out in the first half have a positive impact on the bottom line at the full year. To help us reach our goals faster, we are continuing to assess opportunities to acquire complementary businesses we feel are a good strategic fit."

----------

Jangada Mines PLC - London-based miner focused on Brazil - Pretax loss in 2022 is USD936,000, swung from a profit of USD92,000 in 2021. Reports loss on fair value of investment of USD270,000 compared to a gain of USD340,000. Profit on disposal of investment plummets to USD68,000 from USD1.7 million. Looking ahead, Jangada expects that it will have enough resources to meets it capital requirements for the foreseeable future.

----------

Oracle Power PLC - London-based, Pakistan-focused energy projects developer - Pretax loss in 2022 is GBP1.3 million, widened from GBP881,879 in 2021. Generates no revenue yet. CEO Naheed Memon says the company expects results from a thyssenkrupp AG feasibility study for green hydrogen and green ammonia during 2023.

----------

Verditek PLC - London-based technology company that develops, manufactures and sells lightweight solar panels - Reports pretax loss of GBP1.9 million for 2022, widened from GBP1.1 million in 2021. Revenue multiplies to GBP417,457 from GBP107,632. Administrative expenses increase to GBP1.7 million from GBP1.5 million. Direct costs widen to GBP670,547 from GBP609,213. Looking ahead, Chair David Willetts says: "The near-term outlook for clean technology in general and Verditek in particular is very positive. The group has seen a growing number of enquiries and pilot projects towards the end of the year and in early 2023, which point to promising signs of commercial growth for 2023."

----------

By Tom Budszus, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest
Value8,420.26
Change-18.39