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Pin to quick picksArgo Blockchai. Share News (ARB)

Share Price Information for Argo Blockchai. (ARB)

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EARNINGS SUMMARY: Argo Blockchain revenue drops as Bitcoin prices fall

Fri, 28th Apr 2023 14:38

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

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Argo Blockchain PLC - London-based cryptocurrency miner - Revenue for 2022 amounts to GBP47.4 million, down 36% from GBP74.2 million a year ago, driven by a sharp drop in Bitcoin prices. Swings to pretax loss of GBP194.6 million, from profit of GBP39.3 million. Says loss is due to a change in fair value of digital assets, the impairment of assets and losses from divestitures. Notes that Bitcoin and Bitcoin equivalent mined in 2022 was 2,156, up 5% from 2021. Focuses on optimizing mining fleet and deploying new BlockMiner machines at Quebec facilities. "Having navigated challenging market conditions in both the crypto sector and the global economy in the second half of 2022, Argo has emerged stronger and in a much more solid financial position," Chief Executive Seif El-Bakly says.

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URA Holdings PLC - strategic minerals exploration in southern and central Africa - Pretax loss for 2022 amounts to GBP1.0 million, widening from GBP289,000 a year ago. Records no revenue and declares no dividend, unchanged from 2021. Basic loss per share widens to 0.82 pence, from 0.02p a year ago. Says it plans to resume initial mining in the near term, noting two exploration licences in Zambia were acquired in 2022.

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Aseana Properties Ltd - Jersey-based property developer with investments in Malaysia and Vietnam - Net asset value per share at December 31 was 37 US cents, down from 46 US cents a year ago. Pretax loss for 2022 USD17.6 million, widening from USD5.8 million in 2021, due to an impairment of USD8.6 million. Revenue is USD980,000, increasing from USD595,000, with revenue of USD36.4 million being deferred until control of sold units in the leaseback programme is passed to the buyer, Aseana says. Declares no dividend, unchanged from 2021.

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Sivota PLC - investment vehicle focused on later-stage, Israeli technology firms - Revenue for 2022 USD5.9 million, increasing from no revenue in 2021. Pretax loss totals USD5.1 million, widening from USD498,000, including Apester's loss from Sivota's acquisition of the company in May 2022. Declares no dividend for 2022. Says it continues to "prudently manage its cash resources and to minimise its ongoing operating cost".

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By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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10 Sep 2018 14:25

REPEAT (Sep 7): Argo Blockchain Posts Loss But "Strong Start" To H2

LONDON (Alliance News) - Argo Blockchain PLC said Friday it made a "strong start" to the second half of its financial year after posting a loss for its first seven months as a December a

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10 Sep 2018 14:23

REPEAT (Sep 6): Argo Blockchain Expands Crypto Mining Platform

LONDON (Alliance News) - Argo Blockchain PLC said Thursday it has expanded its platform to support the "mass roll-out" of its cryptocurrency-mining-as-a-service offering later in mining

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