29th Sep 2025 12:56
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News:
----------
ValiRx PLC - Essex, England-based life sciences company focusing on early-stage cancer therapeutics and women's health - Pretax loss narrows to GBP931,135 in the six months to June 30 from GBP1.1 million the year prior. Revenue is zero, unchanged, while administrative expenses drop to GBP828,444 from GBP947,565. Cash and cash equivalents at June 30 total GBP518,794 compared to GBP809,147 a year ago. ValiRx says the first half of 2025 has seen "significant progress", following the strategic review, announced in the fourth quarter of 2024. This sees a reduction in salaries of GBP200,000 per annum going forward, plus a reduction in other overheads of GBP120,000 per annum. Explains trading conditions in 2025 remain "challenging" with significant uncertainty due to the macro political environment and commercial grant opportunities in the UK and US are "stagnant although there are indications this may improve in [the fourth quarter of] 2025." Says the uncertainty around funding is impacting potential customers resulting in lower than anticipated uptake of Inaphaea's services.
----------
Mindflair PLC - London-based investor in artificial intelligence technology - Reports pretax loss from continuing operations of GBP365,000 in the six months to June 30, swung from GBP1.6 million profit a year prior. Net asset value per share drops to 1.98 pence at June 30 from 2.05p at the end of 2024. Cash balance at June 30 is GBP1.5 million compared to GBP220,000 at the end of 2024, even after the the payment of the balance of the series of two‐year loan notes in April, which leaves Mindflair debt free. This reflects the sale of the company's interests in Getvisibility which were sold in April and generated proceeds of around GBP2.6 million, resulting in the conversion of a significant portion of the company's investment portfolio to cash. Director Nicholas Lee says: "Mindflair continues to provide investors with an excellent opportunity to gain exposure to a portfolio of AI focused companies." He believes the AI sector continues to represent an "attractive area" for investment with significant global funds being deployed in this area. "Mindflair is well positioned to benefit from this focus and represents an excellent way for public market investors to gain exposure to this investment class," he adds.
----------
Thor Energy PLC - US and Australia-focused mineral exploration company - Pretax loss stretches to GBP7.4 million in financial year ended June 30 from GBP2.5 million the year prior. This reflects a jump in the write off/impairment of exploration assets to GBP5.0 million from GBP1.9 million. Ends period with cash and cash equivalents of GBP686,000 compared to GBP805,000 a year ago, "a figure that will improve significantly as the US uranium and Molyhil divestments are taken into account". These sales were announced post period-end. Thor believes its strategic transition and asset restructuring positions it "strongly" to create "significant" value for shareholders as an "early mover in the highly thematic natural hydrogen and helium sector, while maintaining exposure to critical energy metals through retained interests and equity holdings".
----------
Eqtec PLC - London-based licensor of syngas technology for conversion of waste into sustainable energy and biofuels - Pretax loss narrows to EUR2.1 million in the six months to June 30 from EUR3.2 million the year prior. This is despite a drop in revenue to EUR635,984 from EUR1.4 million. Bottom line benefits from a fall in administrative expenses to EUR1.8 million from EUR2.3 million and lower finance costs of EUR618,950, down from EUR1.5 million. Eqtec says the first half is marked by "setbacks" outside its direct control, with "delays, withdrawals and restructuring among customers and partners slowing the pace of delivery across several projects." Chief Executive David Palumbo comments: "While external headwinds have constrained revenue growth in H1 2025, we have maintained strong gross margins and continued to advance strategically important projects in Europe and the USA. Our ability to validate synthetic fuels production and attract interest from new strategic investors demonstrates the long-term potential of our model." Gross margin improves to 82% from 54% a year ago, underpinned by a shift toward "high-margin IP-rich services and a departure from high-risk development activities."
----------
Vault Ventures PLC - technology development company focused on blockchain, AI, and augmented reality - Pretax loss widens to GBP237,000 in the six months to June 30 from GBP78,000 the year prior. Vault Ventures says it has made "significant progress following its repositioning to capitalise on the rapidly evolving technology sector." This includes moves to focus on developing AI products, complete acquisitions, restructure the board and raise substantial new capital to ensure it is well funded. "The progress we have made has positioned us for revenue generation which has been recognised in the accounts after the interim period end," it adds.
----------
Artemis Resources Ltd - gold, copper and lithium focused mining company with projects in Western Australia - Pretax loss narrows to GBP6.3 million in the six months to June 30 from GBP16.6 million a year prior. Last year's figure was impacted by a GBP12.1 million impairment of development assets compared to zero this time. Exploration expenditure write-offs rise to GBP4.2 million from GBP55,572 a year ago. Plans for an "exciting" programme of exploration in the year ahead.
----------
Petro Matad Ltd - petroleum exploration, development and production in Mongolia - Pretax loss from continuing operations narrows to USD1.7 million in the six months to June 30 from USD2.6 million as reports revenue of USD1.0 million compared to zero a year ago. Cash balances at June 30 are USD2.4 million compared to USD1.9 million a year ago. "Looking ahead to the second half of 2025, after the successful equity raise in July, the company has embarked on a low cost well testing programme in Block XX seeking to add production in the near term," Petro Matad says.
----------
Landore Resources Ltd - North American-focused precious, base and battery metal exploration and development company - Pretax loss widens to GBP1.3 million in the six months to June 30 from GBP1.1 million the year prior. Exploration costs balloon to USD846,072 from USD132,573 but the bottom line benefits from other income of USD150,485 compared to zero a year prior. In addition, last year's figure was hurt by USD178,693 loss on the disposal of non-current investments. Says the first half of 2025 was a highly "productive period" as it continued to progress its BAM gold project in Canada, which "we believe represents a highly attractive gold asset within our Junior Lake Property, located in a supportive tier-one mining jurisdiction." Notes the favourable backdrop of rising gold prices continues to underpin the "significant upside in BAM as we progress the asset towards potential future development. Also expects to commence a further drilling programme at BAM building on the "success of our Spring 2025 programme."
----------
Power Metal Resources PLC - metals explorer with projects in North America, Africa, Saudi Arabia and Australia - Swings to pretax profit of GBP5.2 million in the six months to June 30 from GBP1.4 million loss the year prior. Revenue rises to GBP45,000 from GBP32,000 while bottom line benefits from GBP8.2 million fair value gains compared to GBP1.0 million the year prior.
----------
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
ValiRxMindflairThor EnergyEqtecArtemis ResPetro MatadLandorePower Metal