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The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: ---------- Avon Technologies PLC - Wiltshire, England-based military protection manufacturer - receives order worth $18.3 million from the US Department of Defense for the M50 Joint Service General Purpose mask and related carriers. The order was issued pursuant to Avon Protection’s existing M50 framework contract. The contract will be delivered in financial 2026 and ‘further adds to our strong order book going into next year,’ Avon Technologies says. ---------- Net Zero Infrastructure PLC - special purpose acquisition company focused on renewable or clean energy technology companies - pretax loss narrows to £84,558 in the six months ended September 30 from £277,849 a year prior. Turnover is zero, unchanged. Is actively considering another potential acquisition opportunity in a different sector of the market, after talks with QuiaPEG Pharmaceuticals broke down. ---------- BP Marsh & Partners PLC - London-based private equity firm, investing in early-stage financial services businesses - Says Sterling Insurance Pty Ltd, the specialist general liability underwriting agency focused on the construction industry in which the group has an interest of 20%, has been acquired by ATC Insurance Solutions Pty Ltd, in which the group is also a 25% shareholder. BP Marsh receives around £3.1 million from the sale, in line with its most recent valuation as at July 31 2024. The group acquired the shares in Sterling in 2013 for around £1.9 million. ---------- Tern PLC - internet-of-things focused investor - reports a £3.8 million pretax loss for 2024, narrowed from £12.6 million the year before, as the loss from movement in fair value of investments is £2.5 million, narrowed from £11.0 million. Fee income falls to £17,402 from £199,233. ‘While market conditions remained challenging, I am pleased to report that 2024 was a year of meaningful progress for Tern,’ Chair Ian Ritchie comments. ‘Our core portfolio continues to mature and demonstrate strength, and we remain firmly committed to delivering long-term value to our shareholders.’ Tern says its core portfolio companies ‘are thriving despite a difficult environment for early-stage technology funding’ and it is ‘exceptionally well placed to benefit from growing interest in early-stage software and the generative AI space’. ---------- Woodbois Ltd - Africa-focused timber technology - announces that production has resumed as planned in Gabon, but says the finalisation of its annual results has been delayed past the June 30 deadline due to ‘the disruption the company faced last year’. In February, Woodbois said it was ‘experiencing the financial effect’ of management changes and a production halt in 2024, noting ‘the patience of some of our creditors has understandably worn thin’. It said it was working to secure bridge financing while it restarted production. On Thursday it said it had sold all veneer stocks held at the end of last year, and ‘significant volumes of wood have been repatriated’ in the year to date. ‘After a challenging few years, I am delighted to report that the company is back in production and experiencing growing sales, both locally and internationally, with numbers increasing month on month,’ said Chair Clive Roberts. ‘Thanks are due to the investors who supported the recent raise and the workforce in Gabon who have made this possible.’ ---------- Van Elle Holdings PLC - Nottinghamshire, England-based ground engineering contractor - expects revenue for the year to April 30 to be £134 million, around 4% below the previous year, reflecting the challenging market conditions that have prevailed throughout the period. As previously announced, the group experienced subdued activity levels and widespread delays to contract start dates, in particular due to significant delays to Building Safety Act approvals. The start of several major contracts which were due to commence in the final quarter of financial 2025 have now been deferred into financial 2026, impacting the final quarter performance. Despite these challenges, the group delivers stable gross margins, and with a focus on cash management, undertook several cost saving initiatives. As a result, says underlying pretax profit for financial 2025 is now expected to be around £3.5 million. ---------- Big Technologies PLC - remote people monitoring technology firm - provides update on litigation against former CEO Sara Murray. Says Murray on Wednesday provides further update to the High Court, again agreeing not to dissipate assets up to £320 million, the value of the claim. The new undertaking is subject to certain limited exceptions which permit Murray to deal with a specified number of her assets in order to pay agreed legal, living and other expenses. Separately, an undertaking has also been provided on behalf of Zinc Ltd, Romelle Ltd, RCP Ltd and Monitoring Partners Ltd, each being a further defendant in the claim, to the High Court not to dissipate their assets up to £64 million, £48.5 million, £79 million and £78.5 million, respectively. The deadline for the defendants to file defences in respect of the claim is June 25. ---------- Griffin Mining Ltd - mining and investment company focused on China - pretax profit falls to $17.9 million in 2024 from $24.5 million a year prior. Revenue eased to $135.1 million from $146.0 million although administrative expenses rose to $34.0 million from $28.0 million. Explains the results for 2024 were severely impacted by the suspension in operations at the Caijiaying Mine during the fourth quarter following the fatality of an employee of a contractor underground in October. Says with the current environment of record world gold prices amidst global economic uncertainty, the continued discovery of substantial and significant gold mineralization at the Caijiaying Mine has been ‘tremendously exciting.’ Drilling at Caijiaying is ongoing, testing multiple high-grade gold shoots. ---------- Jersey Electricity PLC - Jersey-based electricity importer, generator and distributor - profit from operations before tax rises to £10.5 million in the six months to March 31 from £10.3 million a year prior. Revenue climbs to £82.4 million from £75.6 million. Declares dividend of 8.82 pence, up from 8.40p a year ago. Reports significant advancements have been made in the mobilisation and delivery of various programmes during the period. Says the wholesale energy market continues to improve but remains above historic levels, with the macro-economic landscape still fragile. ‘We continue to maintain financial resilience, and our retail prices are approximately 40% lower than the UK,’ firm adds. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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