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The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News: ---------- Mendell Helium PLC - Perth, Scotland-based helium producer - Pretax loss for the year that ended March 31 is £938,000, compared to break-even the year before. The firm continues to report no revenue, while administrative expenses more than triple to £419,000 from £133,000 a year earlier. Mendell also records £450,000 in costs for a one-off impairment of investments. The company notes it has the option to acquire M3 Helium Corp, a Kansas-based producer of helium with an interest in six wells, but says there is no certainty it will exercise its option, nor that the enlarged group would complete a re-admission to trading on the AQSE Growth Market. Mendell Helium plans to begin trading on London’s AIM, and will admit its shares to trading following production starting at M3 Helium’s Rost 1-26 well. ‘At that point, M3 Helium would anticipate being capable of generating significant revenue from that well which we hope would correspond to investor interest in Mendell Helium,’ says Mendell Chief Executive Officer Nick Tulloch, adding: ‘Operations at Rost are proceeding very satisfactorily.’ Mendell extends the date on which its option to acquire M3 Helium must be exercised to November 30, though Tulloch says ‘this should not be read as a target date for admission to AIM, since the target we have set ourselves is to ensure that all steps for moving to AIM should be completed by the time Rost starts delivering helium to the off-taker and, judged on this metric, we consider that all processes are on track.’ ---------- Amirose London Holdings PLC - Thetford, England-based contract manufacturer, formerly known as File Forge Technology PLC - Pretax loss for the 16-month period that ended March 31 narrows to £3,000 from a £735,000 loss during the year that ended November 20, 2023. The company continues to report no revenue, while administrative expenses swing to a £208,000 gain from £735,000 in costs a year prior. Capital loss on investments totals £63,000 against none the year before. The results relate to the activity of File Forge Technology PLC prior to its reverse takeover of Amirose London Ltd, which completed in June this year. ‘Having originally pursued a strategy in the decentralised storage sector, the previous board reached the view that this model did not offer the most effective pathway to shareholder value,’ says Non-Executive Chair Aleksandra Binkowska. ‘After careful consideration, the previous board concluded that greater potential lay in acquiring an established operating business with a proven revenue base, long-standing customer relationships, and genuine scalability.’ Binkowska continues: ‘Looking forward, the opportunity before us is compelling and exciting. Amirose operates a high-margin, mid-volume production model, which positions us to serve a growing number of personal care brands that value agility, quality, and trust over sheer scale. With shifting consumer demand, supply chain realignment, and an increased emphasis on domestic and near-shore production, we see a market environment that plays directly to our strengths.’ ---------- TechFinancials Inc - investment entity - Pretax loss for the six months to June 30 narrows to $64,000 from $90,000 a year prior, as the company records a one-off foreign exchange gain of $20,000 and administrative expenses reduce by 7.8% to $83,000 from $90,000 the year before. TechFinancials reports no revenue, unchanged on-year. ‘I am pleased to announce major progress in our continuous efforts to locate investment opportunities to maximise the company’s value, leveraging its available cash,’ says Chief Executive Board Member Asaf Lahav. The firm has proposed the acquisition of up to 60% of iron ore project Dilotiko in Taita Taveta County, Kenya, subject to shareholder approval at its upcoming annual general meeting on October 16. TechFinancials will first acquire a 25% stake, with the option to acquire an up to 60% interest in Dilotko Ltd in the future. ---------- Hydrogen Future Industries PLC - London-based developer of wind-based green hydrogen production system - Pretax loss trims to £198,000 in the six months that ended January 31, from £432,000 a year earlier. This is primarily driven by the company reporting no research and development expenses during the period, against £192,000 in costs the year before. Administrative expenses reduce by 29% to £67,000 from £94,000. Hydrogen Future Industries reports no revenue, unchanged from a year prior. ‘HFI’s 1-metre prototype wind turbine demonstrated exceptional durability and performance and is now being prepared for its next phase of energy performance trials and objective third-party assessment,’ says Executive Chair Neil Ritson. ‘In parallel, testing of the third party owned novel electrolyser achieved exceptional efficiency of up to 97% and a strategy is underway to expedite the development of a commercial scale electrolyser. These two technologies are required for the successful generation of clean and affordable energy from green hydrogen, and we are looking forward to making further progress towards this goal. In parallel, we are hoping to access new sources of finance through the proposed adoption of a bitcoin treasury strategy and as a result we have welcomed on to the board three directors with the requisite skills to make that a reality.’ During the six-month period Ritson and Non-Executive Director Daniel Maling provided loans in aggregate of £44,500 to the company on an interest-free basis, which were repayable by September 30. Since the period-end in January, Ritson and Maling have provided further loans in aggregate of £44,500 on the same terms. This means the two directors have provided a total of around £154,000 to the company, with the date of repayment extended until the company is able to meet its minimum working capital requirements. ---------- Upland Resources Ltd - Jersey-based oil and gas company focused on Sarawak, Malaysia - Pretax loss widens to £1.1 million in the six months that ended June 30 from £730,207 a year prior, as administrative expenses increase 65% to £889,357 from £540,592. Upland records no exploration and evaluation expenditure against £69,041 the year before, and continues to report no revenue. ‘The board is highly encouraged by the recent positive developments and the robust technical platform we have now established. The company has maintained a healthy cash position and a low, lean operating model, ensuring financial resilience and operational efficiency. We believe we are exceptionally well positioned to capitalise on the opportunities ahead,’ says Chief Executive Officer & Chair Bolhassan Di. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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