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

EARNINGS UPDATES: Kropz annual loss widens on impairments

31st Jul 2023 14:36

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


Kropz PLC - South Africa-focused phosphate producer and developer - Says pretax loss in 2022 widens to USD97.2 million from USD18.3 million a year prior. This is attributed to an impairment loss of USD92.7 million. Posts no revenue for 2022, unchanged from the year before. Looking ahead, says it is "confident in the inherent value contained within each of its core assets." Adds its shares have been restored to trading on AIM after having been suspended at the beginning of July.


Unicorn Mineral Resources PLC - Irish mineral exploration company, focused on exploration for carbonate-hosted copper, lead, zinc, and silver mineral deposits in the Irish Midlands ore field - For the year ended March 31, says pretax loss narrows to EUR424,579 from GBP515,712, attributed to an 18% drop in administrative expenses to EUR424,579 from the year before. Posts no revenue for the year, unchanged from a year prior. Looking ahead, says its next step is to focus on drilling programme at its Kilmallock project in Ireland.


Orient Telecoms PLC - Singapore headquartered telecommunication services provider - For the year ended March 31, says pretax profit grows by 16% to GBP40,319 from GBP34,719 a year prior. This was partly driven by a rise in finance income to GBP1,952 and a 36% growth in other income to GBP10,228. Revenue falls by 24% to GBP463,418 from GBP611,544 the year prior, attributed to some terminations of contracts. Looking ahead, says it will focus on artificial intelligence integration and market expansion.


Hellenic Dynamics SA - London-based cultivator and supplier of tetrahydrocannabinol-dominant strains of medical cannabis flowers - In the 15 months to March 31, says pretax loss widens to GBP4.9 million from GBP349,4000 a year prior. This is driven by administrative expenses of GBP1.2 million and reverse acquisition expenses of GBP3.7 million. Says it recorded no revenue, unchanged from 2021, as it is completing the build and fit-out of its cultivation facilities. Adds it receives a EUR304,425 European Union grant through the Horizon Europe project for its cultivation strategy which uses artificial intelligence to assist with the provision of "consistent medical cannabis products."


Minoan Group PLC - London-based Greek hotel investor - For the six months ended April 30, says pretax loss narrows to GBP286,000 from USD542,000 a year prior, driven by finance costs falling by 76% to GBP66,000 and operating expenses dropping by 16% to GBP220,000. Posts no revenue for the year.


Zenith Energy Ltd - Africa, Middle East and Europe-focused energy production and development company - In the year ended March 31, says it swings to a pretax loss of CAD12.2 million, around GBP7.2 million, from a pretax profit of CAD64.7 million a year prior. Adds revenue rises by 61% to CAD13.2 million from CAD8.2 million, driven by contracts with customers. Chief Executive Officer Andrea Cattaneo says: "The results for the 2023 FY represent the highest revenue generation recorded by the company during its history...Zenith has newly embarked on an exciting acquisition campaign, with multiple potential acquisition opportunities currently under review across different geographies. It is the Board's intention to build on the progress achieved during the 2023 to maximise revenue generation and profitability in the interests of the company's successful long-term development."

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest