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EARNINGS: Tan Delta revenue jumps; Kendrick Resources loss widens

Fri, 29th Sep 2023 21:19

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

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Tan Delta Systems PLC - Sheffield, England-based equipment monitoring and data analysis sensors maker - Reports revenue in the six months to June 30 increased by 54% to GBP0.96 million from GBP0.62 million the year prior. Pretax loss totalled GBP298,000 compared to pretax profit of GBP21,000. Basic and diluted loss per share was GBP0.01 against zero last year. Says revenue was primarily driven by a small number of prospects who commenced implementations following their evaluation period, and by a number of small sales to new customers commencing their evaluations. In the second half, expects more customers to enter and commence implementation on their equipment fleets, as well as contribution from our off the shelf SENSE-2 and MOT products.

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Oriole Resources PLC - London-based gold exploration company, focused on an early stage exploration project in Cameroon and Senala gold project in Senegal - Reports zero revenue in the six months to June 30, unchanged from the year prior. Administration expenses fell to GBP523,000 from GBP583,000 but pretax loss widened to GBP863,000 from GBP392,000. This reflected an adverse, non-cash foreign exchange loss on overseas assets. Basic loss per share totalled GBP0.03 versus zero the year before.

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CAP-XX Ltd - Sydney-based supercapacitor and energy management system manufacturer - Reports revenue in the year to June 30 of AUD3.6 million, down from AUD5.6 million the year prior. Pretax loss widened to GBP5.6 million from GBP4.9 million the year before and basic loss per share totalled 1.1 cents compared to 1.0c. Continues to pursue patent infringement action against Maxwell Technologies and other parties. Notes operating expenses were negatively impacted by AUD1.5 million of associated legal expenditure, down AUD1.0 million on prior year.

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Fusion Antibodies PLC - Belfast-based contract research organisation providing discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Reports revenue in the year to March 31 fell 40% to GBP2.9 million from GBP4.8 million the year before, while the pretax loss widened to GBP2.9 million from GBP1.3 million. Basic loss per share totalled 10.0 pence compared to 4.6p. Explains this year has been a tough year and very commercially challenging. The year has seen a downturn in market conditions and investment into customers' early-stage therapeutic pipelines Venture capital funding, typically the primary source of investment for early-stage biotech, has fallen to its lowest level since 2019. Says: "Whilst there remains a significant amount of uncertainty over the timing and implementation of future contract wins due to reduced investment in the broader biotech sector, we expect trading to recover incrementally over the short to medium term both in respect of existing services and the new services coming on stream."

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Kendrick Resources PLC - London-based Scandinavia-focused mineral exploration and development company - Reports zero income in the six months to June 30 compared to GBP10,872 the year prior. Pretax loss widened to GBP244,534 from GBP184,700 while basic loss per share totalled 0.10 pence compared to 0.24p. Says review of the company's projects gives confidence that "our north European assets are well located with significant potential in the quickly emerging space of energy generation and storage." Remains confident they have assembled an enviable portfolio of projects and look forward to advancing all projects in the second half of the year and providing shareholders with the prospects of enhanced value flowing into next year.

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By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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29 Apr 2024 20:47

IN BRIEF: Kendrick Resources loss widens as admin costs rise

Kendrick Resources PLC - London-based, Scandinavia-focused mineral exploration and development company - Reports pretax loss of GBP1.1 million in 2023 widened from GBP1.0 million a year earlier. Administrative cost increase to GBP580,287, up from GBP418,294.

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22 Apr 2024 20:03

EARNINGS AND TRADING: Zenova's Kitemark award; Carnival's eyes savings

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

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8 Feb 2024 13:59

IN BRIEF: Kendrick confirms vanadium mineralisation at Airijoki

Kendrick Resources PLC - London-based, Scandinavia-focused mineral exploration and development company - Says drilling confirms additional vanadium mineralisation to the north of the existing Airijoki JORC mineral resource in Sweden, initiating the next stage of project development. Chair Colin Bird says: "I am delighted to see that this drilling campaign testing the northern extension to the existing 44.3 [metric tonnes] Airijoki JORC Resource carries good whole rock Vanadium grades as well as Vanadium magnetite concentrate grades, demonstrating the potential to add to the existing resource at Airijoki."

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7 Feb 2024 13:32

IN BRIEF: Kendrick Resources discovers new drill targets at Espedalen nickel complex

Kendrick Resources PLC - London-based, Scandinavia-focused mineral exploration and development company - Announces delineation of new nickel drill targets at following ground magnetic and electromagnetic surveys at its Espedalen nickel complex in Norway. Says the surveys have identified two prospective areas with a magnetic signature similar to the near-surface main zone of the known mineralisation. Chair Colin Bird says: "The successful 2023 diamond drill programme achieved notable [nicker-copper] intercepts over a strike length of 1.2 kilometres. These new geophysical survey results provide the evidence and motivation to expand the resource at the Stormyra deposit located within the Espedalen nickel and copper complex. The results will form part of further technical studies leading to drilling. The opportunity to build on the historical mineral resource of 1.1 metric tonnes at 1.1% nicand 0.50% copper is looking extremely likely, placing Stormyra as the forefront deposit within the Espedalen complex for development."

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12 Oct 2023 12:21

IN BRIEF: Kendrick confirms vanadium mineralisation at Airijoki

Kendrick Resources PLC - London-based Scandinavia-focused mineral exploration and development company - Completes Airijoki extension drill programme in Vittangi, Sweden, drilling a total of 1,394 metres drilled from eight holes. Confirms continuity of vanadium mineralisation and undertakes drilling on two licences within seven contiguous licences. Says remaining five licences are prospective for both vanadium and copper. They will be subject to follow-up exploration.

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21 Aug 2023 10:47

Kendrick Resources in diamond exploration drill programme in Sweden

(Alliance News) - Kendrick Resources PLC on Monday announced that it started a diamond exploration drill programme in Airijoki, Sweden.

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7 Aug 2023 11:51

Kendrick Resources agrees to buy owner of two Swedish nickel assets

(Alliance News) - Kendrick Resources PLC on Monday said it signed a share sale and purchase agreement with EMX Royalty Corp to acquire all of EV Metals AB, which owns the Njuggtraskliden and Mjovattnet nickel exploration licences in Sweden.

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24 May 2023 20:14

TRADING UPDATES: More Acquisitions cancels Megasteel buy; PCI-PAL rosy

(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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28 Apr 2023 19:39

EARNINGS UPDATES: Hostmore revenue jumps, Aminex loss halves

(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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24 Apr 2023 14:01

Kendrick Resources issues GBP4.4 million in shares for EMX purchases

(Alliance News) - Kendrick Resources PLC on Monday said it will issue shares worth GBP4.4 million in relation to its acquisition of three exploration projects in Norway.

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20 Apr 2023 20:02

TRADING UPDATES: Manolete Partners reports record new case investments

(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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29 Mar 2023 14:52

Kendrick Resources touts possibility of vanadium at Sweden asset

(Alliance News) - Kendrick Resources PLC on Wednesday remained optimistic about the prospects of its Airijoki project, following the discovery of other targets within the suite of licences.

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24 Mar 2023 14:28

IN BRIEF: Kendrick Resources completes drill programme at Espedalen

Kendrick Resources PLC - exploration company focused on Norway, Sweden and Finland - Says its maiden exploration drill programme targeting the Stormyra deposit at Espedalen, located in Norway, has been completed. Says the first two batches of drill core have been dispatched for processing and assay with the third and final batch currently being prepared. Adds that the team is assessing other nickel targets and anomalies within the Espedalen area to follow up. Executive Chair Colin Bird says: "The Espedalen Nickel drilling programme has progressed well. Our local team has interacted with the community, keeping interested parties informed and we plan to hold a further meeting once we are able to display drill core and corresponding assays."

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3 Feb 2023 13:41

TRADING UPDATES: Somero revenue short of outlook; SigmaRoc optimistic

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

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