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EARNINGS SUMMARY: Provexis and Unicorn Mineral post chunkier losses

Fri, 30th Dec 2022 15:02

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

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Galileo Resources PLC - exploration and development mining company focused on US and Africa - Posts pretax profit of GBP1.2 million in the six months that ended September 30, swinging from a loss of GBP552,4933 a year before. Says this includes a fair value adjustment on non-current asset held for sale of GBP2.4 million for Galileo's interest in the Glenover Phosphate project. No revenue is recorded.

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Unicorn Mineral Resources PLC - explorer for copper, lead, zinc and silver in Irish midlands - Loss for the six months to September 30 widens to EUR139,737 from EUR39,236 a year before. Says this is due to a rise in professional fees to EUR129,000 from EUR30,902 the prior year as the company applies to be listed on the London Stock Exchange, as well as EUR10,737 in administrative expenses. Shares floated at 10 pence. The stock closed at 15p on Friday in London, up 50% from the initial public offering price.

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Hellenic Dynamics PLC - London-based medicinal cannabis cultivator and supplier - Pretax loss narrows to GBP279,667 in the six months that ended September 30 from GBP427,783 a year before. Records no revenue, which is unchanged from the prior year. Says it did not trade during the period, as "significant work" was undertaken to progress the acquisition of Hellenic Dynamic SA which was completed this month. The only transactions in the period were costs of operating Hellenic and transaction costs of progressing the acquisition, which amounted to GBP279,667 in total.

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Provexis PLC - Reading, England-based producer of heart-health functional food ingredient Fruitflow - Posts pretax loss of GBP173,742 in the six months that ended September 30, widening from GBP145,189 a year before. Revenue declines by 15% to GBP179,369 from GBP211,195 the prior year. Says this is due to short-term lockdowns and other Covid-19 disruptions in the Asia Pacific region. Looking ahead, says Fruitflow is "well-placed to play an important role in the Chinese cardiovascular health market under the permitted health function claim legislation".

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Harland & Wolff Group Holdings PLC - London-based offshore construction company - Lowers 2022 revenue expectations to between GBP29 million and GBP31 million, from the previous guidance of GBP65 million and GBP75 million. Says it was unable to undertake certain work streams in the M55 Regeneration Programme by the Ministry of Defence on behalf of the Lithuanian Defence Materiel Agency, during the fourth quarter of 2022, due to a lack of material availability and specialist original equipment manufacturers' parts amid global supply chain issues. Clients in the cruise and ferry market are to either defer their contracts into 2023 or reduce the scope of works. Says the loss of revenues on this account for the fourth quarter of 2022 will be between GBP8 million and GBP10 million.

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By Jaskeet Briah, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

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17 Jun 2022 12:19

IN BRIEF: Harland & Wolff faces strike at Methil facility

Harland & Wolff Group Holdings PLC - Belfast-based offshore construction company - Says local representatives of the trade unions GMB and Unite have decided to call a "wildcat strike" of the workforce at its Methil facility in Scotland. Explains that it sought legal advice and is convinced that the strike is illegal. Plans to engage in discussions with the local trade union representatives in order to reach a "mutually agreed position" and start negotiations on a collective bargaining deal as quickly as possible.

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10 Jun 2022 14:29

Harland & Wolff completes work on vessel as it builds growing pipeline

(Alliance News) - Harland & Wolff Group Holdings PLC on Friday said that works on the Queen Victoria vessel were complete, as it looks forward to building its pipeline in the cruise industry.

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1 Jun 2022 12:12

Harland & Wolff buys vessel from MoD; secures GBP8.5 million contract

(Alliance News) - Harland & Wolff Group Holdings PLC on Wednesday said it bought a former mine hunting class vessel from the UK Ministry of Defence and reported a contract win for barges fabrication.

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23 May 2022 11:24

IN BRIEF: Harland & Wolff loss widens in 17-month period

Harland & Wolff Group Holdings PLC - Belfast-based offshore construction company - Posts results for the 17-month period ended December 31, 2021 compared to 12 months ended July 31, 2020.

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13 Apr 2022 19:46

TRADING UPDATES: McKay backs Workspace offer; IOG fixes Blythe fault

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

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11 Apr 2022 18:03

IN BRIEF: Harland & Wolff wins dry dock contract for two cruise ships

Harland & Wolff Group Holdings PLC - Belfast-based offshore construction company - Says its subsidiary, Harland & Wolff Belfast Ltd, has ben awarded a dry dock contract for two cruise ships from P&O Cruises and Cunard. The ships will occupy the Belfast drydock for 33 days. Company says the ships mark "another milestone" in its "re-activation strategy". Harland & Wolff does not disclose the financial details of the contract.

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

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EXECUTIVE CHANGES: Polymetal adds 4 directors to replace 6 departures

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Friday and not separately reported by Alliance News:

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16 Mar 2022 15:11

IN BRIEF: Harland & Wolff confirms no legal action against subsidiary

Harland & Wolff Group Holdings PLC - Belfast-based specialist in ship repair, conversion and offshore construction - Responds to recent speculation and states that there is no legal action being taken against its subsidiary Harland & Wolff Methil Ltd by Her Majesty's Revenue & Customs.

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9 Mar 2022 17:56

IN BRIEF: Harland & Wolff signs USD70 million green loan facility

Harland & Wolff Group Holdings PLC - Belfast-based specialist in ship repair, conversion and offshore construction - Enters USD70 million green term loan facility, which will go towards supporting its working capital and expenses for the fabrication of wind turbine generator jackets for the NnG offshore wind project.

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Harland & Wolff annual loss widens as shipyard costs increase

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