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The following is a round-up of earnings for London-listed companies, issued on Wednesday and Tuesday and not separately reported by Alliance News: ---------- Shepherd Neame Ltd - Faversham, Kent-based brewer and pub operator - Pretax profit in year ended June 28 declines 7.9% to £6.3 million from £6.8 million the year prior, as revenue falls 4.6% to £164.3 million from £172.3 million. The prior year was 53 weeks long, adding £3.5 million to revenue and £300,000 to profit. ‘Underlying profits were slightly short of last year’s figures, reflecting exceptional levels of cost inflation arising in April 2025, and the fact that we had one fewer trading week than the previous year,’ the firm explains. ‘We enjoyed buoyant trade in July and August 2024, record Christmas trade, and a strong final quarter in our pub business from Easter 2025. Profits grew strongly in the first half of the financial year, with underlying performance showing good momentum. The full year included the first impact of very unwelcome increases in labour and packaging taxes. These tax increases add to the headwinds and frustrations that all in the hospitality sector and shareholders have had to face in recent years.’ The annualised cost hit due to national insurance contributions and national living wage policy changes are estimated at £2.6 million. ---------- Tufton Assets Ltd - investment firm focuses on secondhand commercial sea vessels - Net asset value per share at June 30 financial year end falls to $1.32 from $1.55 a year prior. Its NAV total return was negative 9.1%, a sharp reversal from a return of just under positive 21% in the prior year. ‘The NAV total return per share over the FY was primarily driven by an unrealised fall in asset values as the market weakened and operating performance,’ Tufton says. Tufton’s dividend for the year amounts to $0.10 per share, unchanged. ---------- Tiger Alpha PLC - investor in ‘utility’ meme coins and natural resources - Pretax loss in the six months to June 30 widens to £389,485 from £117,470 a year prior. It reports no revenue, unchanged on year. Administrative expenses grow to £617,711 from £132,356. ‘During the period, we advanced a number of new investments that reinforce our thematic priorities with a total of £837,567 being invested,’ Tiger Alpha says. ‘The outlook for the remainder of the year is one of cautious optimism. Market conditions remain uncertain, yet the areas in which we are investing continue to attract growing interest and demonstrate long-term promise.’ ---------- Orchard Funding Group PLC - Luton, England-based specialist in insurance premium finance and the professions funding market - Pretax profit in the year ended July 31 amounts to £4.0 million, almost doubling from £2.1 million. Total revenue increases 8.9% to £10.5 million from £9.6 million. Total lending rises to £121.8 million from £114.7 million. ‘This robust performance has continued to be driven by lending volume growth in our core insurance premium funding markets together with improved margins as we have seen a gradual reduction in base lending rates,’ Orchard adds. ---------- TruSpine Technologies PLC - London Gatwick Airport-based medical device company - TruSpine reports a delay to the completion and publication of its audited accounts for the financial year to March 29. A temporary suspension of its shares on the AQSE Growth Market takes effect on Wednesday. ‘The company anticipates that it will be in a position to publish its final results shortly, following which trading in its shares will be restored,’ the firm says. ---------- Zanaga Iron Ore Co Ltd - iron ore exploration and development company with a project in the Republic of Congo - Zanaga’s pretax loss in the half-year to June 30 widens to $3.5 million from $1.1 million due to general expenses more than trebling. It reports no revenue, unchanged on-year. ‘During the first half of 2025, ZIOC experienced a transformative period in its history, securing Glencore’s exit as a major shareholder and the termination of its offtake rights, while welcoming a new group of investors with substantial experience in the mining sector, including expertise in project and infrastructure development. Additionally, key elements of the strategy were developed to add value to the Zanaga project,’ the firm says. In March, it bought back from Glencore PLC $15 million of Zanaga Iron Ore shares. It represented the miner’s entire stake in Zanaga Iron Ore. ---------- Tower Resources PLC - Africa-focused oil and gas company - Reports no revenue in first half of 2025, unchanged from a year prior, while pretax loss widens to $1.2 million from $407,289. Administrative expenses more than double to $1.2 million from $447,757. ---------- Indus Gas Ltd - oil and gas explorer and developer with assets in India - Pretax profit in the year ended March 31 falls 27% to $26.4 million from $36.1 million. Revenue declines 31% to $29.7 million from $42.9 million. ‘Over the next twelve months, the group aims to achieve drilling success across targeted wells and advance the monetisation of its gas reserves. Management remains focused on securing long-term commercial arrangements, resolving outstanding contractual matters, and stabilising production levels,’ Indus adds. ---------- GreenX Metals Ltd - focused on exploring Arctic Rift copper project in Greenland and Tannenberg copper project in Germany - Pretax loss in year ended June 30 widens to A$6.0 million, around £2.9 million, from A$4.6 million. Arbitration-related expenses surge to A$3.1 million from A$404,858. The expenses relate to a claim against Poland, including set-aside defence costs. In October, GreenX won its claims against Poland under both the bilateral investment treaty and the energy charter treaty regarding its Jan Karski project. A tribunal awarded GreenX approximately £252 million under the bilateral investment treaty and £183 million under the energy charter treaty. ‘Since the award was made, Poland has lodged a request to set-aside the Award with the courts of England and Wales in relation to the BIT award and the courts of Singapore in relation to the ECT award. Poland is challenging jurisdictional aspects of both awards and alleging procedural unfairness, including in the tribunal’s decision on damages,’ GreenX says. ---------- Kefi Gold & Copper PLC - focused on Tulu Kapi gold project in Ethiopia - Pretax loss in half-year to June 30 narrows to £3.8 million from £6.1 million a year prior. No revenue is reported for either period. Kefi’s share of loss from jointly controlled entity eases to £450,000 in the half-year, from £2.2 million a year prior. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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