22nd Oct 2025 19:54
(Alliance News) - Savannah Energy PLC on Wednesday said its shares will resume trading on AIM on Thursday, following the publication of its six and nine month results.
In the six months to June, the Africa-focused energy company reported pretax profit of USD101.5 million, up from USD47.2 million a year prior.
Revenue rose 9.8% to USD126.0 million from USD114.8 million a year ago.
Adjusted earnings before interest, taxes, depreciation and amortisation was USD72.9 million, down 20% from USD91.6 million in the 2024 period.
At June 30, cash balances were USD50.4 million, compared to USD32.6 million at December 30. Net debt declined to USD628.7 million from USD636.9 million in December.
In the nine months to September, revenue was USD185.2 million, up 9% from USD169.3 million a year ago. Cash collections were USD241.6 million, up 5%.
At September 30, cash balances were USD101.8 million, up from USD32.6 million in December. Net debt was USD629.9 million, down from USD636.9 million in December.
Following publication, shares in the company will resume trade on Thursday. Shares last traded at 7.00 pence.
Elsewhere, the company has announced a GBP11.3 million fundraise via a subscription at 7 pence per share.
Also on Wednesday, Savannah said it has received another positive judgement regarding the Barroso Lithium Project in Portugal.
The Administrative and Tax Court of Mirandela has dismissed the case brought by the Parish Council of Covas do Barroso in April 2023 against the Ministry of Environment, in which Savannah was named as a counterparty.
The claim sought to annul the 2016 Barroso Mine Concession agreement.
"The court's ruling confirms unequivocal validity and conformity of the Concession," the company said, noting the claimant may appeal the decision.
There are four remaining cases related to the project, none of which affect Savannah's work at the site.
By Aidan Lane, Alliance News reporter
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