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Savannah Energy PLC on Wednesday said its shares will resume trading on AIM on Thursday, following the publication of its six and nine month results. In the six months to June, the Africa-focused energy company reported pretax profit of $101.5 million, up from $47.2 million a year prior. Revenue rose 9.8% to $126.0 million from $114.8 million a year ago. Adjusted earnings before interest, taxes, depreciation and amortisation was $72.9 million, down 20% from $91.6 million in the 2024 period. At June 30, cash balances were $50.4 million, compared to $32.6 million at December 30. Net debt declined to $628.7 million from $636.9 million in December. In the nine months to September, revenue was $185.2 million, up 9% from $169.3 million a year ago. Cash collections were $241.6 million, up 5%. At September 30, cash balances were $101.8 million, up from $32.6 million in December. Net debt was $629.9 million, down from $636.9 million in December. Following publication, shares in the company will resume trade on Thursday. Shares last traded at 7.00 pence. Elsewhere, the company has announced a £11.3 million fundraise via a subscription at 7 pence per share. Also on Wednesday, Savannah said it has received another positive judgement regarding the Barroso Lithium Project in Portugal. The Administrative and Tax Court of Mirandela has dismissed the case brought by the Parish Council of Covas do Barroso in April 2023 against the Ministry of Environment, in which Savannah was named as a counterparty. The claim sought to annul the 2016 Barroso Mine Concession agreement. ‘The court’s ruling confirms unequivocal validity and conformity of the Concession,’ the company said, noting the claimant may appeal the decision. There are four remaining cases related to the project, none of which affect Savannah’s work at the site. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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