|
The following is a round-up of earnings by London-listed companies, issued on Thursday and not separately reported by Alliance News: ---------- Arc Minerals Ltd - copper exploration company focused on mines in Africa - Total loss widens to £2.3 million in the first half of 2025, from £538,000 a year ago. Administrative expenses increase to £2.1 million from £514,000. ---------- Arecor Therapeutics PLC - Cambridgeshire, England-based biopharmaceutical company - Reports pretax loss of £2.5 million for the six months that ended June 30, narrowed from £4.8 million the year before. Revenue rises 0.4% to £2.0 million, while sales, general and administrative expenses reduce by 38% to £2.1 million from £3.4 million. Research and development expenses are down 24% to £1.3 million from £1.7 million. Arecor also records a one-off £409,000 gain on the disposal of non-Ogluo Tetris Pharma products. ‘During 1H 2025, we advanced partner discussions around both AT278 and our financial position, culminating in the two partnership agreements announced today,’ says Chief Executive Officer Sarah Howell. ‘The co-development agreement with Sequel, our US pump partner, will accelerate AT278’s progress towards a pivotal Phase 2 clinical study. The royalty financing agreement with Ligand enables us to immediately co-fund trial-enabling development activities for the AT278 programme, as well as strengthening the balance sheet with a cash runway into 1H 2027. We enter 2H 2025 from a position of strength as we prepare AT278 for phase 2 studies in 2026 and continue to drive research into our oral peptide delivery platform.’ Arecor on Thursday says it will sell its royalty and technology access fees for up to $11 million. The agreement is with Sequel Med Tech, to combine AT278 with Sequel’s twiist automated insulin delivery system powered by Tidepool. Further, the agreement includes a royalty financing agreement with Ligand Pharmaceuticals Inc. The financing extends Arecor’s cash runway to the first half of 2025. ---------- Cobra Resources PLC - exploration and development company with projects in Australia - Pretax loss widens to £448,128 in the first half of 2025, from £382,938 a year prior. Looking ahead, Chair Greg Hancock says: ‘At Boland, the progress made in the first half of the year has further validated our pioneering approach to in situ recovery of rare earths. The successful production of our first mixed rare earth carbonate, combined with exceptional metallurgical recoveries, is keeping Boland on course to be the first ISR rare earth project outside of China which can compete with China on costs. We look forward to conducting further resource drilling in the months ahead with a view to producing a mineral resource estimate and moving the project into the next phases of in-field pilot production and economic assessment.’ ---------- Fenikso Ltd - investor in Nigerian oil and gas assets - Swings to interim pretax profit of $1.6 million in the first half of 2025, from a loss of $126,000 a year prior. Notably, reports a fair value gain on adjustment of receivables relating to release of credit of $5.8 million in the first half of 2025, compared to none a year prior. Looking ahead, Fenikso says: ‘The company is focused on repaying the entire Savanah Energy Investments Ltd loan in accordance with the renegotiated terms of the SEIL Loan announced on 25 April 2025, before the end of 2025 such that the company will have no liabilities whatsoever and will then receive 100% of the cash flows received from Lekoil Oil & Gas Investments Ltd going forward.’ ---------- Hansard Global PLC - Isle of Man-based specialist long-term savings provider - Pretax profit falls 66% to £1.8 million in the financial year ended June 30, from £5.3 million a year prior. Underlying profit declines 40% to £5.1 million from £8.5 million. New business sales on a present value of new business premiums basis climb 5.9% to £82.4 million from £77.8 million. Assets under management as at June 30 edge down 1.7% on-year to £1.13 billion from £1.15 billion. Hansard maintains its interim dividend at 2.65 pence per share. Chief Executive Officer Thomas Morfett says: ‘While IFRS profit declined due to continued investment and litigation costs, our underlying performance remains robust, and our solvency position has strengthened to 169% [from 149%]. We are excited about the opportunities ahead, particularly the launch of our Japanese proposition and further expansion in Latin America. Our refreshed strategy-focused on improving our proposition, growing our footprint, and future-proofing our business-positions us well for long-term, sustainable growth.’ ---------- Seeing Machines Ltd - Canberra, Australia-based designer of vehicle operator monitoring systems - Loss before income tax benefit narrows to A$25.8 million in the financial year ended June 30, from A$32.2 million. Revenue falls 7.8% to A$62.3 million from A$67.6 million, while cost of sales come down 36% to A$23.1 million from A$36.1 million. Chief Executive Officer Paul McGlone says: ‘We are on track to reach cashflow break-even run rate at the end of this calendar year and are firmly focused on being cashflow positive in the second half of FY2026 and beyond. Our strategic priorities continue to centre on sustainable growth and advancing safety technology innovation to get more people home safely.’ ---------- Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
