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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Cornish Metals Inc - Cornwall, England-focused mineral exploration and development company - Reports a loss of CAD887,399, or around GBP535,634, in the six months ended July 31, narrowed from a loss of CAD3.3 million the year prior. Loss narrows as the company swings to a foreign exchange gain of CAD381,878 from a loss of CAD2.2 million the year prior. Company also records interest income of CAD807,294, up sharply from CAD15,223 the year prior. "Much has been achieved since the beginning of the year and, with commissioning of the water treatment plant underway, it is pleasing to see that commencement of dewatering the mine is just round the corner. Furthermore, there has been a lot of progress made in planning and preparing for the re-accessing of the mine which will take place in parallel with mine dewatering," comments Chief Executive Richard Williams.
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Marwyn Acquisition Co III Ltd - company formed for the purpose of effecting a merger, share exchange, asset acquisition, share or debt purchase, reorganisation or similar business combination with one or more businesses - Reports a pretax loss of GBP1.5 million in the year ended June 30, widened from a loss of GBP1.1 million the year prior. Loss widens as company's administrative expenses rise to GBP1.4 million from GBP892,233 the year prior. Looking forward, believes there is "significant" opportunity to invest in businesses that have the potential to be "long term beneficiaries of the changes to their respective sectors."
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Sutton Harbour Group PLC - Plymouth, England-based waterfront regeneration specialist - Says that the Harbour Arch Quay development is now complete and undergoing final regulatory certifications which are expected to be completed this week. As a result, company agrees with the development funder to repay the GBP4.5 million outstanding loan progressively as buyers close purchases during October. Also agrees with its bankers to extend the repayment of the GBP1.6 million term loan to October 31 from September 29.
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By Heather Rydings, Alliance News senior economics reporter
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