EARNINGS UPDATES: Transence Tech swings to profit; Curzon widens loss

(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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Transense Technologies PLC - Bicester, England-based developer of specialist sensor systems for vehicles - Swings to a pretax profit of GBP268,000 in the year ended June 30, from a loss of GBP193,000 the previous year. Revenue rises 49% to GBP2.6 million from GBP1.8 million - this was primarily driven by momentum on royalty income from iTrack, the firm explains. iTrack royalty income totals GBP1.6 million in the year, up 88% against the previous year. Chair Nigel Rogers says: "The directors are confident that the company's business model is resilient, that further increases in profitability and cash flow are deliverable, and that the long term prospects for the company continue to build." In the first two months of its new financial year, company reports a year-on-year revenue growth of 19%.

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Curzon Energy PLC - London-based investor and developer in US based natural gas projects - In the six months ended June 30, widens its pretax loss to USD408,424 from USD345,886 the previous year. Administrative expenses increase to USD307,999 from USD278,305. The majority of this interim loss was due to expenditures in relation to the maintenance of the commercial potential of its Coos Bay coal bed methane project, as well as listing related corporate overheads in London, the company explains. Curzon says it is "unlikely" that it will recommend a dividend in the "foreseeable future." Adds its near-term goals remains focused on exploring ongoing opportunities and license renewals associated with the Coos Bay coal bed methane project.

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GENinCode PLC - Manchester-based predictive genetics company focused on the prevention of cardiovascular disease - Significantly widens pretax loss in the six months to GBP2.3 million in the six months to June 30, from GBP1.0 million the previous year. Revenue ticks up to GBP664,000 from GBP600,000. Administrative expenses surge to GBP2.6 million from GBP1.3 million. Cites increased levels of investment in preparation for the launch of Lipid inCode and Cario inCode for the widened loss. Looking to the second half, company remains focused on its US regulatory and reimbursement submissions for Cardio inCode. Adds the commercialisation of Lipid inCode continues to progress.

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Round Hill Music Royalty Fund Ltd - Guernsey-based investor in music copyright assets - In the six months to June 30, posts a widened pretax loss of USD3.2 million, compared to a loss of USD2.2 million in the period from August 5, 2020 to June 30, 2021. Against the same period, royalty income falls to USD14.1 million from USD16.3 million. Operating costs increase to USD15.6 million from. Looking into the second half of 2022, firm says royalty collecting societies and music publishers are expecting to see a positive upswing in royalty collections and distributions as the world continues to reopen post-Covid lockdowns.

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LifeSafe Holdings PLC - Essex, England-based fire safety technology firm - In the first half of 2022, significantly widens pretax loss to GBP2.2 million from GBP665,000 the previous year. Revenue surges to GBP1.3 million, however, from GBP41,000 a year prior. Administrative expenses jump to GBP1.4 million from GBP600,000 the previous year. Also notes non-underlying costs of GBP895,000 due to IPO costs and share-based payment charges. Chair Dominic Berger says: "In H1 2022, we have almost doubled the revenues that we generated in all of 2021 and this strong momentum has continued into H2 2022 with revenues continuing to grow ahead of the board's expectations."

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By Heather Rydings; heatherrydings@alliancenews.co

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