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The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: ---------- KR1 PLC - digital asset investment company, which is focused on proof-of-stake blockchain networks - Swings to pretax loss of £35.8 million in 2025 from profit of £7.9 million the year prior. Income from digital assets slumps to £4.9 million from £13.0 million. In addition, bottom line is hit by £22.6 million adverse movement in the fair value of intangible assets and £4.1 million adverse movement in fair value of financial assets. ‘While 2025 has been a challenging year in the digital asset markets, resulting in decreased income and net asset value for the company, we continue to generate a robust income from our operations in the digital asset ecosystem, testament to the resilience of our strategies,’ it says. Remains ‘confident of our ability to deliver long-term value to our shareholders.’ ---------- Tullow Oil PLC - London-based oil and gas company - Swings to 2025 pretax loss of $62.7 million from $173.7 million profit the year prior, ass revenue falls to $847 million from $1.29 billion. 2025 working interest output is down to 40,400 barrels of oil equivalent per day from 51,500 a year ago. First quarter 2026 output averages 43,400 boepd with the full-year view sitting between 34,000 to 42,000 boepd. Tullow says it expects an outcome for 2026 at the higher end of the range. Provides 2026 free cash flow guidance between $70 million to $175 million at $70 to $100 per barrel and plans capital expenditure of $200 million, allocated mainly to Ghana. ‘Operationally, 2026 has started strongly, with momentum building across the business. We are particularly encouraged by the positive early results from our Ghana drilling campaign, which highlight the quality and potential of our world-class assets,’ says Chief Executive Ian Perks. ---------- Jade Road Investments Ltd - Hong Kong-based investment company - Pretax loss narrows to $758,000 in 2025 from $1.2 million the year prior. Basic and diluted loss per share is 0.77 US cents compared to 0.34 cents. Bottom line benefits from lower finance expenses of $70,000 versus $400,000 a year ago. Calls 2025 a ‘very busy and transformational time.’ ---------- Southern Energy Corp - natural gas and light oil assets company with operations in Mississippi - Net loss falls to $7.5 million in 2025 from $11.5 million in 2024. Basic and fully diluted losses per share are $0.03 versus $0.07. Adjusted funds flow from operations is $3.0 million versus $2.8 million. Net debt is $7.8 million, reduced from $8.4 million. ‘2025 marked a year of resilience and progress for Southern, as we navigated a challenging commodity environment while continuing to strengthen our financial position and demonstrate the quality of our asset base,’ says Chief Executive Ian Atkinson. ‘With materially lower leverage, no bank debt maturities, and development capital now fully funded, Southern enters 2026 positioned to convert its extensive proved developed producing and undeveloped reserve base into sustainable free cash flow,’ he adds. ---------- Eden Research PLC - Oxfordshire, England-based developer of biopesticides and formulation technologies for the crop protection, animal health and consumer products industries - Expects revenue and pretax profit to be broadly in line with market expectations for the period ending March 31. Eden Research recently changed its year-end to March 31. Expects revenue of £4.9 million for the 15 months to March, compared to £5.0 million consensus, and a pretax loss of £2.9 million versus £2.8 million consensus. In 2024, Eden Research reported revenue of £4.3 million and a pretax loss of £2.2 million. Cash at period end of £1.5 million was lower than expected reflecting timing of working capital at year end. Following subsequent receipt of the net proceeds of the second part of the fundraise announced in February, cash stood at £9.0 million. Chief Executive Sean Smith says: ‘The last fifteen months have been a highly productive period for Eden, and it is clear that we are on a path to success with the products we have in the market and with those we are developing in-house. There is strong interest in our existing and developmental products, driven by our ongoing marketing efforts and the industry’s transition towards sustainable solutions, which is both rewarding and encouraging.’ ---------- Poolbeg Pharma PLC - London-based clinical stage biopharmaceutical firm focused on cancer immunotherapy - Pretax loss narrows slightly to £5.8 million in 2025 from £5.8 million the year prior. Nil revenue is disclosed, unchanged year-on-year. Administrative expenses ease to £4.9 million from £5.3 million, R&D costs rise to £1.5 million from £1.4 million. Cash balance is £7.7 million as at December 31, with the company funded through to delivery of near-term clinical milestones into 2027. Poolbeg anticipates strong potential for partnering on positive data from its clinical trials and is progressing constructive partnering discussions with several companies, with increased engagement as it advances towards data. Progress made towards commencement of oral GLP-1 proof of concept trial at University of Ulster, now expected to commence in the second half of 2026 due to revised manufacturing lead times. ---------- Hardide PLC - Bicester, England-based surface treatment technology firm - Announces it has received a further £1.8 million of new orders from its large North American energy sector customer, which are expected to be delivered by the end of the current financial year ending September. This is additional to existing forecasts such that Hardide now anticipates revenues and financial performance for FY26 will be materially ahead of its previous expectations. ---------- R8 Capital Investments PLC - London-based fintech with a bitcoin banking app - Says will not be in a position to publish full-year 2025 results by the end of April, the latest date permitted for publication under stock exchange rules. The ‘unforeseen’ delay to the audit is principally due to the ongoing wind-down of its Fibermode subsidiary which has extended the audit process. As a result, shares will be suspended until publication of the results. ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
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