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(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
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