(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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Dianomi PLC - London-based digital advertiser - Swings to profit in the half-year that ended June 30 as administrative costs narrow. Profit stands at GBP897,000 compared to a loss of GBP1.7 million a year ago. Revenue increases slightly to GBP18.0 million from GBP17.4 million. Administrative expenses narrow to GBP4.1 million from GBP6.0 million. Outlook for digital ad spend in financial services remains resilient, firm says.
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Eagle Eye Solutions Group PLC - London-based marketing solutions provider - Pretax profit in year that ended June 30 climbs to GBP685,000 from GBP126,000 a year ago, citing sales pipeline. Revenue jumps to GBP31.7 million from GBP22.8 million. However, operating expenses widen to GBP28.9 million from GBP20.4 million. Proposes no dividend, unchanged from a year prior. "Eagle Eye has entered financial year 2023 with momentum across the business, a strong new business pipeline and a growing international opportunity, in the US, Europe and Asia," company says.
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Galileo Resources PLC - mining company focused on US and Africa - Pretax profit in year that ended March 31 rises on investments. Pretax profit surges to GBP1.4 million from GBP87,872 a year ago. Operating expenses halved to GBP753,321 from GBP1.5 million a year ago. Equity accounted investments return a profit of GBP3.4 million versus a loss of GBP9,088. Looking forward, firm says: "The Kashitu zinc project in Zambia has been subject to a further review, resulting in a continued commitment to add value and hopefully bring a small initial deposit into production during early 2023."
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Gowin New Energy Group Ltd - China-based LED lighting products and tea trading - Pretax loss in half-year to June 30 widens as tea trading business "remains highly dependent on China's zero-Covid policy environment, which has seen continuous rolling lockdowns across the country, most recently affecting 21 million people in Chengdu and large populations in other cities." Interim pretax loss widens to RMB2.0 million, about GBP249,932, from RMB1.7 million. Posts no revenue, the same as year before. "The group continues to look out for the opportunity to relaunch its tea trading business, focused on the collection, distribution and sale, including auction market, of high-quality Chinese Pu-erh tea and Taiwan high-mountain tea," company says.
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Pennant International Group PLC - Cheltenham, England-based training technology and product support provider - Pretax loss in half-year that ended June 30 narrows to GBP810,000 from GBP1.7 million a year prior, as firm praises its "more streamlined organisation". Revenue falls 6.8% to GBP6.9 million from GBP7.4 million. Looking ahead, Chair John Ponsonby says: "With a period-end contracted order book of GBP27 million with good forward visibility, a healthy sales pipeline containing opportunities worth over GBP50 million, and a leaner, optimised organisation, the board is confident about the group's future prospects."
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Velocys PLC - Oxford-based sustainable fuel technology company - Half-year loss in six months that ended June 30 widens as revenue dives on less consulting revenue from feasibility studies. Pretax loss widens to GBP5.7 million from GBP2.2 million a year ago. Revenue falls to GBP48,000 from GBP8.2 million as engineering consulting services revenue in respect of feasibility studies plummets. "Revenues are expected to be uneven in the short-term due to the concentrated number of projects," firm explains. Adds that is is focused on advancing its commercialisation strategy through a targeted pipeline of opportunities. "The progress we have made, alongside the policy tailwinds, creates a solid platform for the company to deliver. Our outlook remains targeted and selective as we continue on the path of capital-light scalable growth," says Chief Executive Officer Henrik Wareborn.
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By Tom Budszus; tombudszus@alliancenews.com
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