Last checked at 
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
Critical Metals PLC - DRC-focused mining company - Posts pretax loss of GBP1.1 million in the six months ended December 31, narrowed from GBP1.3 million a year before. Losses before interest, tax, depreciation and amortisation also narrows to GBP1.1 million from GBP1.3 million. Losses per share trimmed to 1.59 pence from 2.67p a year prior. Says is focussing on advancing its Molulu copper-cobalt asset in the DRC, in which it holds a 70% interest.
----------
Global Petroleum Ltd - Africa and Mediterranean-focused oil and gas company - Delivers a pretax loss of just USD3,164 in the six months to December 31, narrowed from a loss of USD695,619 a year prior. Says the first half loss reflects ongoing exploration expenditure in Namibia, where the company is focusing on securing a farm-out agreement for its PEL0094 licence. Says income was USD305,799 for the period, up from no income in the latter half of 2022. As at December 31, Global Petroleum's cash balance was USD597,365, up from USD356,389.
----------
888 Holdings PLC - Gibraltar-headquartered sports betting and gambling company, which owns brands including 888casino and William Hill - Agrees to sell selected US B2C assets to Hard Rock Digital. Earlier in March, 888 said it was contemplating disposing of its US operations, and says it intends to do so by the end of 2024. Its US exit will realise an annual adjusted earnings before interest, tax, depreciation and amortisation benefit of GBP25 million from 2025 onwards, but adds that the sale of its US assets will incur one-off costs of GBP40 million. On Tuesday, 888 said it was planning to change its name to Evoke PLC, subject to shareholder approval at its 2024 annual general meeting, to "better reflect the strength of the group's multi-brand operating model".
----------
Iconic Labs PLC - London-based media and technology company - Reports no revenue in the six months ended December 31, unchanged from a year before. Pretax profit sank to GBP270,131 from GBP5.5 million, which Iconic says reflects "the writing back of creditors balances which are no longer due and the creditor settlements under the [company voluntary arrangement]", which it exited in October. Iconic says its focus is now on "acquiring a suitable company through a reverse takeover". Iconic has signed a heads of terms deal with the owners of ITS Holdings 2023 Ltd, to acquire Style Fashion Ltd, though adds that no binding agreement has been reached. Says the deal meets its "strategic objectives of long-term growth and value for our shareholders."
----------
India Capital Growth Fund Ltd - closed-ended investment firm focused on Indian companies - Net asset value per share increases 29% to 180.11p from 140.06p in 2023, underperforming the company's benchmark S&P Midcap Total Return Index's 38%. Looking ahead, says there is a "broad consensus" that Indian gross domestic product will grow 6% to 7% per annum for the next few years, adding that its economy demonstrates "a favourable regulatory environment, improved infrastructure, healthy corporate balance sheets and policies geared towards investment led development". Says that while India's previous growth has been largely consumption-led, the next phase of growth will be driven by investments.
----------
Arrow Exploration Corp - Calgary, Canada-based oil and gas company focused on Colombian and Canadian projects - Confirms sharp increases in the net present value of its 1P reserves and 2P reserves. Says 1P reserve estimates increased 57% to 5.29 million barrels of oil equivalent, thanks to the discovery of the Carrizales Norte field and successful drilling at the Rio Crave Este field, both in Colombia. the NPV of its 1P reserves, discounted 10%, is USD134.88 million. 2P reserve estimates increased by 54% to 11.8 million boe, with a NPV-10 of USD280.22 million. 3P reserve estimates increased 53% to 17.8 million boe, with an NPV of USD445.02 million.
----------
Microlise Group PLC - Nottingham-based software as a service technology provider - Signs 5-year contract worth a total of AUD20 million, GBP10.3 million, with WooliesX, part of the Australian supermarket chain Woolworths Group Ltd. Says it will deploy its solutions to optimise WooliesX's home delivery operations. Roll-out of its services has already begun, with the remainder taking place in 2024, Microlise says.
----------
Genedrive PLC - Manchester-based molecular diagnostics company - Delivers GBP238,000 in revenue in the six months to December 31, up from GBP21,000 a year before. Pretax loss narrows to GBP2.0 million from GBP2.2 million. Basic loss per share narrows to 2.0p from 2.4p. Company adds that it is in "advanced" negotiations with a US-based medical group to support a clinical trial pathway for its MT-RNR1 pharmacogenetic test.
----------
By Hugh Cameron, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
