(Alliance News) - The following is a round-up of earnings reports by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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DP Poland PLC - operator of pizza stores and restaurants across Poland and Croatia - Pretax loss widens to GBP2.2 million in the six months to June 30 from GBP1.9 million the previous year. Revenue grows by 20% to GBP16.6 million from GBP13.8 million. Selling, general and administrative expenses tick up to GBP2.7 million from GBP2.2 million, while finance income all but evaporates and finance costs rise. Earnings before interest, taxation, depreciation, and amortization swings to a profit of GBP387,698 from a loss of GBP14,135. Chief Executive Nils Gornall comments: "Positive sales trends have accelerated in H2, with July and August like-for-like sales growing at a rate of more than 30% year-on-year. However, we remain vigilant against the strong inflationary environment facing companies and consumers alike, although we are seeing early signs of some pressures easing."
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Gama Aviation PLC - Farnborough, England-based aviation services company - Reports a "solid" financial performance in the first half of 2022, despite economic challenges, posting a widened interim loss but a rise in revenue. In the six months ended June 30, the firm's pretax loss widens to USD4.0 million from USD3.6 million the previous year. Revenue rises by 30% to USD139.3 million from USD107.3 million. Cost of sales increase 29% to USD109.8 million from USD84.9 million, and administrative expenses rise 20% to USD31.2 million from USD26.1 million. But Gama also books a USD5.0 million loss on currency movements, compared to a gain of USD121,000 the previous year. Looking ahead, Gama expects the full-year to be in line with expectations.
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Wishbone Gold PLC - Gibraltar-based precious metals trading and exploration company with assets in Australia - In the six months to June 30, reports a total loss of GBP385,888, narrowed from GBP475,705 the previous year. Administration expenses are cut to GBP384,823 from GBP510,378. Says focus is now on drilling our main exploration targets at Red Setter in Western Australia and its Wishbone tenements in Queensland.
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Ace Liberty & Stone PLC - Edinburgh-based commercial property investment company - Sees annual profit grow by 49% year-on-year despite a decline in revenue. In the year ended April 30, reports a pretax profit of GBP2.1 million, up from GBP1.4 million the previous year. Revenue falls 8.5% to GBP5.7 million from GBP6.2 million, due to the sale of properties. Records a GBP917,203 gain on a disposal of an investment property in the year, against nothing the previous year. Declares a dividend of 3.4 pence, up from nothing the year prior.
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Eastinco Mining & Exploration PLC - Africa-focused company seeking to acquire and develop assets for exploration, development, mining, and trading of critical minerals - Narrows pretax loss in the six months to June 30 to GBP233,000 from GBP252,000 in the previous year. Eastinco says this reflects its expenditure on overheads, operational and exploration costs, and legal and professional expenses, primarily related to the proposed transaction to acquire a series of exploration assets in Morocco and a proposed move to a standard listing on the London Stock Exchange. Total assets at June 30 rises to GBP3.8 million from GBP3.4 million at the same time a year prior.
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Rockfire Resources PLC - Greece and Australia-focused gold and base metal exploration company - In the six months ended June 30, narrows pretax loss to GBP302,582 from GBP425,937 the previous year. Rockfire says this was because the prior period included a share-based payment expense of GBP116,049. This year there were no grants of options. Says that the timing of higher zinc prices and exploration drilling at its 100% owned Molaoi deposit are combining to the firm's advantage. Focus remains on value growth through exploration success, it adds. Total assets at June 30 is GBP5.0 million, up from GBP4.5 million at the same time a year prior.
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Cadence Minerals PLC - early stage investment and development company within the mineral resource sector - Swings sharply to a pretax loss of GBP5.0 million in the six months to June 30 from a profit of GBP2.8 million the previous year. Records an unrealised loss on financial investments of GBP5.3 million against a profit of GBP3.1 million the previous year. Says the lithium and rare earth sectors have remained positive, with pricing "robust" and demand continuing to be driven by the electrification of transport systems. "Cautiously optimistic" looking forward despite macroeconomic headwinds. In the second half of the year, expects results to reflect a GBP4.2 million profit from the sale of its Yangibana joint venture interest.
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ProBiotix Health PLC - Wakefield, England-based life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions - In the three months to June 30, reports a pretax loss of GBP73,704. In the six months to June 30, 2021, ProBiotix Health reported a profit of GBP46,630. Revenue in the three-month period totals GBP306,042, compared to GBP537,262 in the same six-month period last year. Books share-based payments of GBP38,988 in the period, compared to none in the six-month period last year. Administrative expenses jump to GBP412,499 from GBP181,477. 'Other' administrative costs rise to GBP349,611 from GBP158,252. Says confirmed orders received during the year to end of August total GBP1.1 million, exceeding those invoiced and reported in its full year results for 2021. Focus in the second half of the year will focus on commercialising products across more territories, it says.
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By Heather Rydings; heatherrydings@alliancenews.com
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