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EARNINGS: S-Ventures back in profit; Ormonde pretax loss widens

ALN

The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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S-Ventures PLC - London-based company that invests in brands across the natural, wellness, and food-tech sectors - Swings to pretax profit of £483,000 in the six months to June 30 from £515,000 loss a year prior. Gross revenue drops to £6.7 million from £8.0 million while basic earnings per share is 0.31 pence compared to LPS of 0.39p. Chief Executive Scott Livingston says: ‘The subsidiaries have performed in line with expectations, and the brands are building traction. As we move forward, our focus remains on maximising value for shareholders, whether through the distribution of our Tooru equity or through pursuing strategic opportunities that align with the company’.

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Ormonde Mining PLC - natural resources company with assets in Newfoundland and Scotland - Pretax loss widens to €934,000 in the six months ended June 30 from €560,000 the year prior. No revenue, unchanged year-on-year. Administrative costs fall to €361,000 from €616,000 but other losses total €571,000 compared to gains of €58,000 a year ago. ‘Exploration is a game of patience, and we believe our two core project investments in Newfoundland and Spain have the potential to deliver high returns to our shareholders as exploration progresses, whilst the investment in Peak Nickel continues to provide residual exposure to the battery metals sector,’ company says.

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Zephyr Energy PLC - Rocky Mountain region-focused oil and gas company that aims for responsible resource development and carbon-neutral operations - Pretax loss widens to $13.0 million in the six months ended June 30 from $3.1 million the year prior as revenue drops to $6.3 million from $13.6m. Cash balance is $5.8 million at June 30 versus $1.1 million a year ago. Expects ‘substantial progress’ in Paradox in the coming months, allowing the company to unlock the considerable potential value of the project. Looks forward to the coming months with ‘confidence as we continue to open-up the next prolific oil and gas basin in the US.’

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Invinity Energy Systems PLC - London-based manufacturer of utility-grade energy storage systems - Pretax loss narrows to £10.0 million in the six months ended June 30 from £11.1 million a year prior. Revenue falls to £256,000 from £1.6 million. In the short term, Invinity remains focused on delivering against its order book and closing out the remaining commercial contracts that underpin 2025 revenue forecasts; continuing to meet or exceed Endurium cost down programme targets in order to enhance product margins; and progressing its global expansion plans. ‘We remain on target to achieve a substantial improvement in our 2025 FY results compared to last year while continuing to build deal flow into 2026 and beyond,’ says Chief Executive Officer Jonathan Marren.

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Africa Opportunity Fund Ltd - Closed ended investment fund focused on Africa - Net asset value per share of $1.215 as at June 30 is 1.2% higher than $1.201 at the end of 2024. Income attributable is $156,810 compared to loss of $520,499, net gains on investment is $445,202 versus nil.

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Harvest Minerals Ltd - Perth-based producer of fertiliser operates primarily in Brazil’s Minas Gerais region - Pretax loss from continuing operations is $2.0 million, widened from $1.8 million a year ago. Revenue from fertiliser sales drops to $516,533 from $1.2 million. Loss per share is 0.67 US cents compared to 0.94 cents. Sales continue to be negatively affected as the fertiliser sector faces a challenging period, driven by both macroeconomic pressures and a continuation of local factors impacting commodity prices. While a new marketing campaign for KP Fertil generated a positive initial reaction, this has not continued, and sales subsequently have been below expectations. Forecasts no near-term respite to the difficult trading conditions. As the company continues to experience a volatile trading environment, expectations for the remainder of the year have been substantially reduced and the company now forecasts total annual sales of 25,000 tonnes. ‘The outlook for the fertiliser business remains very unclear and the company continues to critically evaluate the position of the division within the group going forward. Similarly, whilst the REE potential warrants further investigation we continue to approach this opportunity cautiously and mindful of the limitations of our current resources,’ company says.

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Wishbone Gold PLC - miner with projects in Western Australia - Pretax loss from continuing operations narrow to £259,927 in the six months to June 30 from £790,569 the year prior. No revenue, unchanged year-on-year, while other income rises to £496,551 from £92,060. ‘The company continues its strategy of exploration focused on its properties in Western Australia and in particular at the Red Setter Gold Dome which neighbours the Telfer Gold Mine. We look forward to bringing more good news to all of you in the coming months, creating more value for our shareholders,’ company says.

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Wellnex Life Ltd - Melbourne-based consumer healthcare company - Pretax loss widens to A$15.6 million in the financial year to June 30 from A$13.7 million the year prior, despite revenue from sale of goods rising to A$23.6 million from A$16.8 million. Sales underpinned by the first full-year contribution from Pain Away. Performance is impacted by higher trade investment, resulting in a gross margin of 23%. However, margins recovered to 37% in the second half resulting from a more disciplined approach to trade investment. ‘The financial results reflect the reality of integration costs relating to the successful acquisition of Pain Away and one-off impacts, including the dual listing on the AIM Market of the London Stock Exchange. However, they also highlight the underlying strength of our brands and the significant opportunities ahead,’ Ash Vesali, chair says.

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African Pioneer PLC - natural resource explorer and developer focused on sub-Saharan Africa - Pretax loss is little changed at £332,639 in the six months to June 30 compared to £321,778 the year prior. Income is nil, unchanged year-on-year. The company is investigating mining concessions near to Ongombo which have known resources and access. Believes there is synergy between a number of projects and that Ongombo can be enlarged by collaboration or acquisition. In addition, is in talks with a number interested parties wishing to joint venture the exploration potential at Zambian Northwestern copper exploration area. Elsewhere, exploration projects in Botswana are currently being re-evaluated for small mining potential.

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80 Mile PLC - Greenland and Finland-focused company with a portfolio of critical metal and industrial gas projects - Swings to pretax profit of £4.3 million in the six months to June 30 from £2.0 million loss the year prior. Revenue is nil, unchanged year-on-year. Bottom line benefits from other gains of £6.5 million compared to £1.0 million loss. Says first half has been ‘transformational’. ‘Operationally, significant progress has been made at the Ferrandina Plant, with refurbishment and permitting now complete, and commissioning well underway. Our Greenland portfolio has also advanced, with the return of 100% ownership of the Disko-Nuussuaq project and the establishment of a clear pathway to drilling at Jameson through our partnership with March GL. At the same time, the Board has taken decisive steps to monetise non-core assets, including agreements to divest Kangerluarsuk and advanced discussions to sell the Finnish copper projects after clawing these projects back from Metals One,’ company says. Adds: ‘80 Mile is now positioned with a strengthened balance sheet, full ownership of its flagship Greenland assets, a growing industrial biofuels platform in Italy, and exposure to one of the most compelling energy exploration opportunities globally.’

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