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EARNINGS AND TRADING: Nexus revenue drops; Brooks MacDonald revenue up

Thu, 07th Mar 2024 14:31

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

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First Tin PLC - London-based tin development company focused on advanced, low-capital expenditure projects in Germany and Australia - Says mineral processing work for definitive feasibility study at its Taronga project in Australia shows enhanced recoveries. Chief Executive Officer Bill Scotting comments: "This work builds on and improves the previous mineral processing test work on the initial bulk sample. Optimisations by our team in Australia and the ALS Laboratory have successfully shown the deposit has a recovery of over 70% through the gravity circuit, confirming the previous Newmont test work. The work also shows that gravity circuit recoveries for mineralisation that grades below the average grade being mined, remain above 70%, thus alleviating concerns that the previous test work was only conducted on samples with above average head grade. Results for the full circuit, including crushing, will be reported in the next few weeks, and results of that are eagerly awaited."

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Nexus Infrastructure PLC - Provider of civil engineering infrastructure services - Says revenue in 2023 falls 9.9% to GBP88.7 million from GBP98.4 million a year earlier. Pretax loss widens to GBP8.5 million from GBP909,000. Nexus Infrastructure pays out a dividend of 2.0 pence per share, bringing the full year dividend to 3.0p. Looking ahead the company says: "Market sentiment anticipates a recovery in the housebuilding market over the next 18 months. Tamdown's services, capabilities and expertise form the principal element of activities at the start of new developments and will therefore feature early when conditions in the housebuilding sector improve. The board will continue to review a range of future growth options to deliver expansion and diversification opportunities, to take full advantage of the group's capabilities and experience."

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Helium One Global Ltd - Primary helium explorer - Posts revenue of USD1.4 million, compared to no revenue a year earlier. Pretax loss narrows to GBP1.1 million from GBP1.9 million. Chair James Smith says: "This has been an incredibly busy and transformational period for the company, especially post the half year-end. The acquisition of our own rig in July 2023 enabled us to commence our second drilling campaign and provides us with significant optionality going forward, whether that be to drill additional wells efficiently and quickly or as a future revenue stream for the company." Adds that drill stem test results from the Itumbula West-1 show a minimum flow rate of 0.5 million cubic feet per day. Says it is reviewing its options to drill another well in 2024.

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Zinnwald Lithium PLC - High Wycombe, England-based, Germany-focused lithium development company - Says its mineral resource estimate and processing test work confirm long mine life and greater annual lithium hydroxide production. CEO Anton du Plessis says: "This substantial expansion, driven by extensive drilling, positions us as a key player in the region's lithium market and will, we hope, see our project classified as a Strategic project within the EU. In addition, results from various processing test work to date has been encouraging, potentially offering significant advantages in terms of overall recovery, efficiency, and reduced impact on the environment."

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Brooks Macdonald Group PLC - London-based wealth manager - Says revenue in the six months to December 31 rises 8.0% to GBP63.6 million from GBP58.9 million the year before. Swings to a pretax loss of GBP783,000 from a GBP9.8 million pretax profit the previous year. Declares an interim dividend of 29.09p per share, up 3.9% from 28.0p the year prior. Looking ahead, it said its underlying profit outlook remains in line with market expectations. CEO Andrew Shepherd says: "During the last six months our priority has been to help our clients and advisers navigate the challenging markets that the wealth management industry has continued to face. The need for trusted advice and robust long-term investment management remains as strong as ever. As a management team, we have been proactive in adapting our business to the current environment, resulting in a group that is in a stronger operational position, well-placed to take advantage of the opportunity ahead. These results are a testament to the expertise and hard work of our people and our collective drive to deliver long-term sustainable results. Although the short-term macroeconomic outlook remains uncertain, we have confidence in our growth strategy and our ability to keep delivering for all our stakeholders."

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By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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