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EARNINGS: First Property reinstates dividend; Petro Matad loss narrows

ALN

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

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First Property Group PLC - UK and Central Europe-focused property fund manager and investor - Reports higher earnings for the financial year to the end of March and reinstates its dividend. Pretax profit rises 12% to £3.4 million from £3.0 million, while revenue climbs 15% to £8.7 million from £7.6 million. The company reinstates its dividend and proposes a final dividend of 0.25 pence per share, compared to none a year ago. Net assets per share increase 6.9% to 32.61p from 30.50p, while total assets under management falls to £189 million at the end of March from £220 million a year earlier. ‘I am pleased to report a further significant improvement in the performance of the group and reinstatement of the dividend,’ says Chief Executive Ben Habib. ‘The economy and markets remain challenging, but we are identifying some interesting deals and taking the opportunity to buy them where possible. We are supported in this endeavour by around £7 million in group cash and access to third-party capital from long-term clients. Our outlook is therefore positive.’

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Petro Matad Ltd - petroleum exploration, development and production firm in Mongolia - Records a narrower loss as revenue climbs in a ‘standout year’ for the company. The pretax loss from continuing operations narrows to $4.2 million in 2025 from a $10.9 million loss in the previous year. Operating income multiplies to $2.9 million from $626,000 a year earlier. The loss per share narrows to 0.3 cents from 0.8 cents. Petro Matad says its average barrel of oil sold for $61.8 in 2025. Looking ahead, the firm says production from Heron-1 has continued as forecast and production from Gazelle-1 has exceeded expectations in 2026. Average production in the year to date is 233 barrels of oil per day. ‘The increase in oil price in 2026 compared to 2025 benefits the company in that Mongolian fiscal terms are favourable and the contractor’s return increases in proportion to the increase in the oil price,’ the company says. It adds that farm-out discussions for Block XX are significant, with an uptick in interest following the rise in the oil price. Chief Executive Officer Mike Buck says: ‘2025 was a standout year for Petro Matad with continuing production from Heron-1 and the exciting addition of Gazelle-1 in the fourth quarter. The generation of a revenue stream for the company is a major achievement and our focus in 2026 is on seeking a partner to join us to accelerate production and revenue. Whilst the Block XX farm-out negotiations in 2025 were frustratingly slow, the post-period increase in interest is encouraging.’

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Rome Resources PLC - mineral explorer with tin project in Democratic Republic of the Congo - Reports a narrower pretax loss as administrative expenses fall. The pretax loss for 2025 narrows to £1.3 million from £4.8 million a year prior. Administrative expenses sink 42% to £1.4 million from £2.3 million. Rome Resources reports nil revenue for 2025, unchanged on-year. The firm notes that it raised a total of £2.1 million in equity funding for its DRC operations during 2025. Chief Executive Officer Paul Barrett says: ‘By the end of the current reporting period, the company should be in a strong position having added value to its projects in both the DRC and Canada and we look forward to keeping shareholders appraised of our progress.’

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Oracle Power PLC - developer of projects in Pakistan and Australia - Pretax loss narrows in 2025 as administrative expenses edge lower. The pretax loss slims to £570,233 in 2025 from a loss of £711,875 a year earlier. Administrative expenses fall 16% to £611,962 from £730,119. There was no revenue in the year, unchanged on-year. Chief Executive Officer Naheed Memon says 2025 was ‘significant’ as the firm advanced towards potential operations in Western Australia. ‘We entered into a commercially viable contract with a mining operator, who is expected to commence the mining operations at the prospective Northern Zone gold mine in 2026,’ Memon says. Looking ahead, Memon adds: ‘It is our objective to maximize returns and shareholder value through forging relationships with partners in order to inject capital and expertise for the advancement of our projects and, enhance returns on the portfolio.’

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