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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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SEEEN PLC - London-based global media and technology platform - Posts revenue of USD1.9 million for the six months ended on June 30, down 63% from USD5.2 million a year ago, as pretax loss widens slightly to USD1.6 million from USD1.5 million. Says the reduction reflects the loss of all "Multichannel Network advertising revenue in Russia since the start of the Ukrainian conflict". Gross profit decreases by 54% to USD271,840 from USD594,380 a year ago. Expects full-year profitability and revenue to be in line with market expectations.
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Volvere PLC - turnaround investment firm based in Leamington Spa, England - Records a 14% rise in revenue of GBP17.9 million for the six months ended on June 30, from GBP15.7 million a year ago. Pretax loss, however, widens to GBP1.1 million from GBP286,000, as cost of sales jumps to GBP16.5 million from GBP13.4 million a year ago. "This [pretax loss] reflects increased losses in Indulgence, partially offset by gains arising from treasury management activities," it explains. Indulgence Patisserie is the company's frozen desserts manufacturer. Says overall performance is below expectations.
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Novacyt SA - Surrey-based biotechnology group focused on clinical diagnostics - Reports revenue of GBP16.5 million for the six months ended on June 30, down significantly from GBP52.2 million a year ago. Says the fall is "predominantly driven by the expected decline in Covid-19 related sales". Pretax loss narrows to GBP7.1 million from GBP14.4 million. Looking ahead, the firm does not expect demand for its Covid-19 products to pick up in the fourth quarter, as previously anticipated, therefore, the board expects the fourth quarter revenue to be similar to the third quarter, resulting in an anticipated earnings before interest, tax, depreciation, and amortisation loss for the full year of about GBP13.5 million.
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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Posts a surge in revenue to EUR 3.0 million for the six months ended on June 30, from EUR481,720 a year ago. Pretax loss narrows to EUR2.2 million from EUR4.0 million. Cost of sales rise to EUR2.7 million from EUR414,549. Looking ahead, Eqtec expects 2022 revenue to be in the range of EUR10 million and EUR12 million.
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Safestay PLC - London-based operator of city centre hostels across Europe - Achieves a surge in revenue to GBP7.3 million in the six months ended on June 30, from GBP407,000 a year ago. Pretax loss narrows to GBP338,000 from GBP3.4 million. Says all 16 hostels remained largely open for the first time since early 2020 and "demonstrated that their customer appeal remains strong". Looking ahead, says confident in its business and prospects are steadily returning.
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Edenville Energy PLC - London-based developer of Tanzania's Brownfield Rukwa coalfields - Records a rise in revenue to GBP56,146 in the six months ended on June 30, from GBP27,752 a year ago. Pretax loss, however, widens to GBP820,640 from GBP587,354, as cost of sales widen to GBP452,484 from GBP280,320 a year ago.
By Xindi Wei; xindiwei@alliancenews.com
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