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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Block Energy PLC - exploration and production company focused on Georgia - Swings to a pretax loss of USD432,000 in the first half of the year from USD627,000 profit a year prior, and revenue drops 15% to USD3.9 million from USD4.6 million the year before. Cites lower-than-average oil prices. Looking ahead, says it remains "on track to deliver its best full-year financial results in history."
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Autins Group PLC - Rugby, Warwickshire-based industrial materials' technology business that specialises in the design, manufacture, and supply of acoustic and thermal products - Sells 50% interest in Indica Automotive Ltd joint venture for GBP300,000 to partner Indica Industries PV. Says this is due to its "restructured approach" to sourcing of foam products in the UK.
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Hellenic Dynamics SA - London-based cultivator and supplier of tetrahydrocannabinol-dominant strains of medical cannabis flowers - Posts effective completion of phase one development at its cultivation facility in Greece and expects first cultivation on or before October 10 under Elgo Dimitra's license, which it signed a memorandum of understanding with back in March. Says it expects to be able to expand total cultivation area. Also inks deal with Nine Lions Bioscience Corp, a Alberta, Canada-based cannabis genetics breeder, to import and cultivate a "selection of [high-Tetrahydrocannabinol] medical cannabis strains" at its Greece facility. Chief Executive Officer Davinder Rai says: "Our partnerships with Elgo Dimitra and Nine Lions further solidify our presence and capabilities in the rapidly growing European medical cannabis industry."
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First Class Metals PLC - Blackburn, England-based mineral exploration company focused on projects in Ontario, Canada - Pretax loss for the first half of the year widens to GBP744,400 from GBP159,778 a year prior, as administrative expenses climbed to GBP693,460. Looking ahead, says completion of fund raise back in June means it is "funded to continue to drive through the exciting planned workstreams ahead."
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CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Says brine samples collected from first well at the Llamara project were depleted in lithium and surface samples show minor lithium enrichment and high-grade boron. Meanwhile, results from the second batch of sampling are pending. Also begins geophysics programme at Salar de Atacama basin.
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Armadale Capital PLC - Africa-focused natural resource projects investor based in London - Reports gain on investments in the first half of the year GBP456,000 compared to a loss of GBP1,000 a year ago. Swings to GBP291,000 pretax profit from GBP152,000 loss.
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By Sabrina Penty, Alliance News reporter
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