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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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N4 Pharma PLC - Derby, England-based pharmaceutical company focused on developing Nuvec, a delivery system for vaccines and cancer treatments - In the first half of 2022, narrows interim loss, in line with expectations, and looks to the future with optimism. In the six months ended June 30, pretax loss narrows to GBP750,102 from GBP973,216. Research & development costs reduced to GBP411,417 from GBP602,927. Net assets at June 30 drop to GBP1.4 million from GBP2.7 million at the same time a year prior. Chief Executive Nigel Theobald sees "excellent" progress in the half. Says firm refined its focus "in line with changing market conditions". "I look forward with optimism to the excellent progress we have made continuing throughout the remainder of the financial year," he adds.
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Arkle Resources PLC - Ireland-focused gold and zinc explorer - In the six months ended June 30, reports a drop in pretax profit to EUR21,000 from EUR37,000. Net assets at June 30 rise to EUR3.8 million from EUR3.2 million at the same time a year prior. Explains that the main activities of the firm in recent months has been its Irish zinc holdings, where drilling is ongoing at its Wicklow, Wexford gold licences. However, notes lack of investor interest in Irish zinc and gold exploration, combined with "growing anti-mining sentiment in certain parts of the Irish government". As a result, moves focus towards Africa, where it notes the search is gathering momentum with the acquisition of three licences in Zimbabwe.
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CEPS PLC - Bath, England-based investment company focussed on the industrial sector - Reports growth in interim sales, "unsurprisingly" as the first six months of the previous year were subject to lockdown regulations. In the six months ended June 30, revenue jumped to GBP13 million from GBP9 million the previous year. Pretax profit climbs 10% to GBP527,000 from GBP477,000. Cites the contribution of Aford Awards, of which CEPS holds 75%, for the increase in profit. Afords Awards generated revenue of GBP1.6 million in the year, up from GBP515,000 the year prior. Firm does not declare a dividend, but says it is "keen to recommence the payment".
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Directa Plus PLC - London-based producer and supplier of graphene-based products for use in consumer and industrial markets - Interim loss widens but reports a rise in revenue as it maintains a positive outlook for the year as a whole. In the six months ended June 30, pretax loss widens to GBP2.2 million from GBP1.2 million the previous year. Revenue rises 39% to GBP5.5 million from GBP4 million. Raw materials and consumables used in the half jumps to GBP3 million from GBP1.3 million. Looking forward, says cost increases seen during the first half have been addressed through price increases for its products. Investment in new equipment is also expected to reduce direct production costs. Expects "significant" revenue growth despite uncertainty in macroeconomic conditions. Chief Executive Giulio Cesareo says "Directa Plus has positioned itself well to withstand headwinds and take full advantage of the technology platform we have developed which continues to gain further commercial traction."
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Parity Group PLC - London-based professional services company focused on data and technology - Significantly narrows pretax loss to GBP82,000 in the six months ended June 30 from GBP491,000 the previous year. Revenue slips to GBP21.1 million from GBP26 million, while net fee income falls to GBP1.9 million from GBP2.3 million. Notes continuing demand within the contract recruitment market. Firm says it has taken action to refocus the business and streamline its cost base during the half which contributed to the narrowed loss, it says. Focus for the remainder of the year is on maintaining the company's "positive momentum" and positioning for further growth in 2023.
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Crestchic PLC - Burton-on-Trent, England-based industrial equipment supplier - Boasts a record year-to-date, with a "buoyant" performance across all sectors, leading the firm to increase its expectations for 2022 and 2023. In the six months ended June 30, pretax profit soars to GBP4.1 million from GBP434,000 the previous year. Revenue rises to GBP23.4 million from GBP19.6 million. Hire revenue made up 58% of the total revenue from continuing operation in the half. Entered the year with a record order book for sales of its manufacturer products. Adds order intake, through the first half and into the second half, has remained at record levels. Declares an interim dividend of 1.33 pence per share.
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Physiomics PLC - Oxford-based oncology drug development consultancy - Chair & Chief Executive Jim Millen says the firm "return to a growth trajectory" in the year ended June 30, with results "slightly" ahead of analyst forecasts. Pretax loss widens to GBP358,972 from GBP336,930 the previous year. Cites investment in new team members and marketing as a "significant" part of this loss. Revenue, meanwhile, rises by 18% to GBP830,266 from GBP702,314. Net operating expenses tick up to GBP1.3 million from GBP1.1 million. Sees the global oncology pharmaceuticals market growing "strongly" in the years ahead. Does not recommend a dividend.
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Celadon Pharmaceuticals PLC - London-based pharmaceutical company focused on growing cannabis, initially for the chronic pain market - Reports interim revenue while pretax loss significantly widens in a half which saw the firm readmitted to AIM. In the six months ended June 30, loss widens to GBP13.4 million from GBP1.9 million the previous year. Posts revenue of GBP11,258, up from none a year prior. Books a GBP6.4 million share-based payment charge as a result of listing, along with GBP1.5 million in reverse acquisition costs. Also sees a GBP3.4 million finance charge on convertible loan note. Chief Executive James Short says: "The year to date has seen considerable developments and growth for Celadon. After the company's readmission to AIM in March, we have been making progress on many fronts. As at August 2022, we completed seven harvests of high THC cannabis from our Phase 1 grow rooms and we have now formally requested that the MHRA schedule an inspection of the facility. Should the inspection be successful, we believe we will be one of a limited number of GMP approved medical cannabis facilities in the world."
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Gusbourne PLC - Ashford, England-based sparkling wine producer - More than doubles revenue in the first half of 2022 thanks to strong demand and an expanded customer base, both in the UK and internationally. In the six months to June 30, narrows pretax loss to GBP1.4 million from GBP1.9 million the previous year. Revenue surges to GBP3.3 million from GBP1.6 million. Costs of sales jumps to GBP1.2 million from GBP619,000. Notes that current trading continues to reflect year-on-year revenue growth, though at lower rates than in the first half. Looking forward to further business development in the coming year and increased supply over the longer term.
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Lansdowne Oil & Gas PLC - North Celtic Sea Basin-focused oil and gas company - Pretax loss widens in the six months ended June 30 to GBP158,000 from GBP149,000 as administration expenses tick up to GBP130,000 from GBP125,000 and finance costs rise to GBP28,000 from GBP24,000. At June 30, has assets totalling GBP16.5 million, up from GBP16.3 million at the same time a year prior. Says that the Barryroe oil development can play an "important role" in providing energy security for Ireland, in a "relatively short time frame". Looking forward to engaging with the Irish government's Department of Energy & Climate Change in the coming weeks.
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By Heather Rydings; heatherrydings@alliancenews.com
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