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: Great Southern loss widens, Walkers Crips profit up

31st Jul 2023 21:57

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

----------

Great Southern Copper PLC - copper-gold exploration company focused in Chile - In the financial year that ended March 31, pretax loss widens to GBP1.3 million from GBP1.0 million a year earlier, both years made up entirely of administrative expenses as it focuses on progressing its Especularita and San Lorenzo projects in Chile. Chief Executive Officer Sam Garrett says: "The discovery of an intrusive-related copper-gold system at San Lorenzo, as well as high-grade copper-gold prospects at Especularita, has established a strong platform for the company to build from in the future. The green transition has underscored the importance of key strategic minerals such as copper, and this continuing trend is expected to bolster demand, particularly in light of the supply shortages foreshadowing this transition. Our exploration work over the past year has highlighted the significant potential of our projects, and the board looks forward to advancing with exploration campaigns to further understand the numerous promising targets identified at our two projects."

----------

Walker Crips Group PLC - London-based stockbroker and asset manager - In the financial year that ended March 31, pretax profit mutliplies to GBP632,000 from GBP206,000 a year earlier. Revenue falls to GBP31.6 million from GBP32.8 million, while commissions and fees paid falls to GBP7.3 million from GBP9.1 million. Declares final dividend of 0.25 pence, up from 1.20p. Chair Martin Wright says: "Although pleasing to report a year-on-year improvement in IFRS profitability, the underlying business has experienced reduced trading commissions, lower management fees, and increased costs in the challenging and uncertain economic conditions we faced during the year. We continue to focus on investing in our people and technology to drive the key initiatives that improve our working environment, customer service and ultimately operating margins and profitability, including fully embracing regulatory change and preparations for the new consumer duty regulation."

----------

Rockpool Acquisitions PLC - Special purpose acquisition company formed to acquire Northern Irish-based engineering and manufacturing holding company Amcomri Group Ltd - In the financial year that ended March 31, swings to pretax loss of GBP297,089 from a profit of GBP56,654, as administrative expenses multiply to GBP296,411 from GBP36,011. Posts no "other income" from GBP65,381, while it also posts no financial income from GBP99.405 a year earlier. Non-Executive Chair Richard Beresford says: "I look forward to a positive year ahead which will hopefully see the completion of the Amcomri acquisition, a return to trading of the company's shares and, with that, the completion of the first key period of the company's existence."

----------

More Acquisitions PLC - special purpose acquisition company - In the six months that ended April 30, operating loss and pretax loss is GBP360,481. In comparison, in the 13 months that ended October 31 since it incorporated as a company, operating loss was GBP113,639. It is yet to post a revenue. Says the search for a suitable acquisition target resumed following the withdrawal of Megasteel Ltd from the proposed reverse takeover. Chair Charles Goodfellow says: "The company continues to search for an acquisition target and will be providing further updates concerning the acquisition search process in due course."

----------

Amala Foods PLC - cash shell - In the financial year that ended March 31, pretax loss narrows to GBP440,076 from GBP1.1 million a year earlier. Posts no revenue again, while various expenses fall: administrative expenses down to GBP269,967 from GBP357,656; does not post an impairment expense from GBP204,656 a year earlier; share-based payments down to GBP16,441 from GBP332,232. Chair Jonathan Morley-Kirk says: "The directors are actively seeking to identify new opportunities for the company with a view to identifying and completing a successful transaction resulting in a reverse takeover."

----------

Semper Fortis Esports PLC - London-based professional e-sports team operator - In the financial year that ended January 31, pretax loss narrows to GBP578,309 from GBP1.2 million a year earlier. Revenue multiplies to GBP100,977 from GBP31,629, while operating and administrative expenses halve to GBP679,286 from GBP1.3 million. Chair Keith Harris says: "In the prior year financial statements we advised that despite growth in the sector, monetisation had remained a key challenge for all esports organisations globally and that due to economic uncertainty and difficult capital market conditions, the company intended to significantly reduce its overheads and conserve cash. This is exactly what we have done. We chose not to renew the contracts of our esports talent and reduced other overheads where we could, whilst looking at various different strategies for the company.

----------

By Greg Rosenvinge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest
Value8,191.29
Change0.00