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EARNINGS UPDATES: Sylvania beats production goal, Angle revenue surges

7th Sep 2023 14:41

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


Sylvania Platinum Ltd - Bermuda-based, South Africa-focused platinum miner - Pretax profit for the year ended June 30 was USD67.0 million, down 17% from USD80.9 million for the previous year. Revenue down % to USD130.2 million from USD151.9 million. Declares 5 pence per share final dividend, down from 8p. Brings total financial 2023 dividend to 8p per share, unchanged from financial 2022. Sylvania Dump Operations exceeded its production guidance with 75,469 4E PGM ounces, up 13% from 67,053. Confirmed financial 2024 production target of between 74,000 and 75,000 4E PGM ounces.


Inspecs Group PLC - Bath, England-based eyewear company - Swung to GBP3.8 million statutory pretax profit for first half of 2023 from a GBP189,000 loss the prior year. Revenue up 6.1% to GBP111.2 million from GBP104.8 million. Underlying earnings before interest, taxes, depreciation and amortisation up 5.4% to GBP12.1 million from GBP11.4 million. Says trading so far in second half is meeting expectations and all order books remain "at a good level". Does not intend to pay a dividend in 2023 and accordingly declared no interim payout.


Condor Gold PLC - Gold exploration company with operations focused on Nicaragua - Pretax loss for first half of 2023 narrowed to GBP965,815 from GBP1.4 million the year before, due to lower share-based payments, down 44% to GBP162,425, and administrative costs, down 25% to GBP810,702. Condor has no revenue. Net cash balance at June 30 was GBP584,837, down from GBP2.5 million at the same time last year due to currency fluctuations. Remains focused on arranging sale of its assets in Nicaragua, and currently has five non-binding offers.


Angle PLC - Surrey, England-based medical diagnostics company - Reports GBP1.2 million revenue for first half of 2023, more than double GBP419,000 the year before. Pretax loss GBP10.6 million compared with GBP10.5 million loss. Says its pipeline for products and services is building well and expects "strong" momentum to continue into second half. Expects annual revenue to be in line with market expectations, with cash ahead of forecasts due to cost control measures and deferral of some discretionary expenditure. Also notes headline results for its major clinical studies are expected by the end of the year. Says these will demonstrate the key clinical applications of its liquid biopsy system Parasortix in patient care.


By Emma Curzon, Alliance News reporter

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