EARNINGS: Zenith Energy swings to loss, Amicorp profit doubles

Mon, 01st Jun 2026 14:42

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued from Friday to Monday and not separately reported by Alliance News:

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Georgina Energy PLC - onshore helium and hydrogen explorer with permits in Australia - Books a pretax loss of GBP2.8 million for the year ended January 31, narrowed from GBP5.4 million in the nine months ended January 31, 2025. Diluted loss per share narrows to 2.47 pence from 3.92p. Administrative costs tick up to GBP1.7 million from GBP953,265. Re-entry drilling at the Hussar prospect is scheduled for the third quarter of 2026, following execution of a drilling contract with Ensign Australia Pty Ltd last month. Georgina Energy eyes the potential extension of the Hussar resource area and at the Mount Winter site, it says it has received a draft Aboriginal Land Rights Act Agreement, with more detailed management plans to be submitted to regulators. The company maintains confidence in long-term demand for natural gas and says its portfolio is located in a region with supportive infrastructure. Chief Executive Anthony Hamilton adds: "While it was agreed to not proceed the Central Petroleum acquisition, it remains my driving ambition to seek value accretive organic and inorganic opportunities for the business and our shareholders where possible, and we will continuously assess how best to prudently assign capital in order to deliver growth." Georgina Energy in May terminated an agreement to acquire subsidiaries of Central Petroleum Ltd.

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Highway Capital PLC - Beaconsfield, Buckinghamshire-based cash shell - Posts delayed results for the year ending February 29, 2024. Pretax loss narrows to GBP320,823 from GBP436,585 the previous year. Highway says it has raised GBP67,000 in debt between August 2025 and February 2026. Notes that in financial 2024, it continued to focus on its reverse takeover of Guinevere Capital Esports & Entertainment, though it said in September 2024 that it had terminated discussions for the deal. "Since then, the principal focus of the company has been on corporate restructuring and restoration of the listing. As previously mentioned, the directors strongly believe that company will be in a much stronger position to pursue new acquisition opportunities after completing a successful company voluntary arrangement," Highway says. Plans to provide more details of that arrangement in its annual report for the year ending in February 2025.

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Mkango Resources Ltd - Vancouver-based mining company - Swings to a pretax profit of USD52,467 in the three months ended March 31 from a loss of USD2.5 million a year earlier, as sales rise to USD51,621 from none reported. Cost of sales ticks up to USD13,520 from none on-year, while total expenses swell to USD2.4 million from USD1.3 million. Finance expenses multiply to USD122,085 from USD11,165. Mkango ended March with USD1.2 million in cash, which has since grown to USD15.2 million, following the receipt of USD15.5 million in proceeds from an equity raise in April.

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Amicorp FS (UK) PLC - fund services provider - Pretax profit roughly doubles to USD2.1 million in 2025 from USD1.1 million the previous year, as revenue rises to USD16.9 million from USD15.6 million. Operating profit grows to USD1.8 million from USD820,000 and diluted earnings per share rise to 1.28 US cents from 0.58 cents. Amicorp books a USD273,000 foreign exchange gain compared with a USD239,000 loss the year prior, while the net impairment loss on financial assets narrows to USD287,000 from USD520,000. Amicorp plans to apply for restoration of its shares to trading, following a suspension due to delayed results. "This delay was principally due to the planned operational transition from the company's Bangalore facility to Cape Town, which encountered unforeseen complexities," Amicorp says. Also notes approval in 2025 to provide fund administration services to funds established in the Dubai International Financial Centre. Chair Toine Kipping says the company is "well positioned to capitalise" on trends related to geopolitical volatility. "Investment momentum has moderated, and asset managers are increasingly focused on cost optimisation, operational efficiency, and strengthened risk management frameworks. These conditions are accelerating demand for outsourcing, automation, and technology-enabled solutions."

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Zenith Energy Ltd - energy production company with interests in the US, Italy, and Tunisia - Swings to a pretax loss of CAD19.8 million, or USD14.3 million, in the year ended March 31, 2026 from profit of CAD1.1 million the prior year. Revenue rises to CAD2.3 million from CAD1.7 million, but administrative expenses more than double to CAD14.2 million from CAD6.5 million. Cash balance amounts to CAD2.1 million at the end of March, down from CAD3.2 million a year earlier. Chief Executive Andrea Cattaneo notes: "The board believes that the successful implementation of the bond exchange programme will further strengthen the company's financial position by extending debt maturities, reducing near-term refinancing requirements and providing the flexibility required to execute the next phase of the company's strategy." Says it continues to pursue arbitration claims against the Tunisian government and enters financial 2027 "with considerable momentum".

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By Holly Munks, Alliance News reporter

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