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The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News: ---------- Eight Capital Partners PLC- financial services operating company focused on technology - Says it is ‘confident’ in its trajectory as it swings to a pretax profit of £903,000 in the six months ended June 30 from a loss of £1.3 million the year prior. Revenue rises to £70,000 from £3,000 on ‘higher levels of transaction activity’. The firm sold its entire stake in investment issuer Evrima PLC during the first half as well as undertaking a capital reorganisation and bond conversion, with the latter resulting in a £1.2 million gain on foreign exchange movements, compared to a £535,000 loss in 2024. Eight Capital says it has no bond liability as of the half-year-end and that it is discussing a possible investment in a European bank as a funding platform for fintech lending products. ‘Our pipeline of fintech partnerships and our acquisition strategy are expected to soon show tangible progress, with scale-up opportunities firmly in sight,’ Eight Capital adds. ---------- EnQuest PLC - oil and gas company with operations in the UK and Malaysia - Reports an 11% drop in production during the first half to 38,257 barrels of oil equivalent per day versus 42,771 boepd the previous year. Revenue for the six months ended June 30 fell 6.3% to $549.1 million from $586.0 million on-year, while pretax profit shrunk to $65.6 million from $111.3 million. The firm maintains that it is ‘on track’ to meet full-year guidance for a net production range of 40,000 to 50,000 boepd. EnQuest says it benefitted from efforts to reposition and expand hedging during the first half and ‘accelerated maintenance work’ at its Magnus field amid ‘an unscheduled production shut-in’. The next planned shutdown is expected in 2026. ‘EnQuest’s growth strategy remains robust, with a focus on delivering a transformative UK acquisition,’ the company says, though it noted a ‘near-term pivot to investment outside of the UK’ due to UK government policy making the UK North Sea ‘globally uncompetitive’, in EnQuest’s view. ---------- Pharos Energy PLC - London-based energy company with assets in Vietnam and Egypt - Lifts its dividend despite swinging to a net loss of $2.8 million in the first half from $15.3 million profit a year earlier. Revenue edges up to $65.6 million in the six months ended June 30, from $65.0 million on-year. Pharos declares an interim dividend 0.3993p, 10% ahead of the previous year. Net working interest production was marginally down from 5,851 boepd in the first half of 2024. Pharos narrows full-year guidance to range from 5,200 to 6,000 boepd, compared to the previous target of 5,000 to 6,2000 boepd. This reflects ‘consistent production in Vietnam and lower than expected production in Egypt,’ Pharos says. The firm continues to discuss potential farm-out deals in Vietnam, where it is about to start a new drilling campaign. Pharos also notes ‘improved fiscal terms in Egypt’. This follows Tuesday’s announcement that the Egyptian General Petroleum Corp has agreed to new consolidated concession, combining the El Fayum and North Beni Suef prospects. Pharos says it retains its 45% working interest in the consolidated concession, whilst the site operator IPR Lake Qarun Co holds 55%, with the zone now including three new exploration areas. ---------- Borders & Southern Petroleum PLC - oil and gas company with Falkland Islands offshore assets - Says pretax loss narrows to $441,000 in the six months to June 30 from $578,000 a year earlier. Borders & Southern also reports a successful £2.2 million fundraise during the first half, which will be used to push its Darwin discovery towards the appraisal stage. Darwin farm-out discussions are in progress, supported by ‘improved industry sentiment towards upstream assets and the progress of the Sea Lion field in the North Falklands,’ the firm adds. Its cash balance is $3.2 million at June 30, improved from $2.1 million at December 31. Borders & Southern is targeting a final investment decision for its Sea Lion project in the final quarter of 2025, which it expects to serve as ‘a major catalyst for the Falkland Islands basin’. ---------- Deltic Energy PLC - London-based investor with an exploration and appraisal portfolio in the southern and central North Sea - Posts a net loss of £1.0 million for the six months ended June 30 compared to a loss of £19.3 million the year prior. Loss per share narrows to 1.10p from 20.73p on-year. However, the net loss result excludes a £18.0 million impairment which came from Deltic notifying partners of Licence P2252 that it plans to withdraw from the Pensacola licence. Finance costs on a deferred repayment agreement for Pensacola were less than £100,000, Deltic says, compared to none in 2024. The firm has 24 months from September 2024 to repay £900,000 to joint venture partners. The value of Deltic’s exploration assets was £2.2 million at the end of June, up from £1.9 million at the end of December, ‘mainly reflecting further spend on the Selene discovery,’ Deltic says. Cash stood at £300,000 as of June, contracted from £1.4 million at December 31, due to general and administrative costs, as well as operational expenses after the Selene discovery. Deltic in June agreed to be acquired by Rockrose Energy Ltd, a subsidiary of London-based Viaro Energy Ltd. The deal is expected to complete early in the fourth quarter, subject to regulatory approval. Viaro is making a loan of £2.7 million available to Deltic, to support liquidity through to acquisition. The buyer will also cover acquisition costs, expected at a maximum of £650,000. Deltic says it has ‘a reasonable expectation that the company will have adequate resources to continue in existence’ at least until the acquisition closes, but without the buyout or the loan, it would need to go into administration. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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