The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:
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Coinsilium Group Ltd - Gibraltar-based blockchain investment firm - Reports revenue of £6,000 for 2024, down 84% from £37,250 a year ago. Pretax loss widens to £987,747 from £660,684. Notes that the net fair value loss on financial assets in 2024 was £138,288 compared with a £17,289 gain in 2023. Administrative expenses for the year were £963,800, up 7.5% from £896,246. ‘2024 was a watershed year for bitcoindriven by structural supply shifts, regulatory breakthroughs, and unprecedented levels of institutional adoption. These transformative forces not only fuelled bitcoin‘s exceptional price performance but also reinforced its emergence as a global store of value and strategic financial asset,’ the company says. Coinsilium says it is reaffirming ‘the continuity of its core business activities while entering a significant new phase of strategic emphasis’. ‘The nature of the business as an investor and advisor in the digital asset sector remains fundamentally unchanged. However, recent developments in the market have led the board to sharpen its strategic focus on bitcoin and the operational advancement of its wholly owned subsidiary, Forza!, as a dedicated bitcoin treasury entity for the company,’ it adds. ‘This directional refinement, which has accelerated materially in the post-year-end period, reflects both macro market dynamics and internal positioning, with the board identifying a timely and distinctive opportunity to align the company with the fast-growing bitcoin treasury model now gaining significant traction globally.’
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Arc Minerals Ltd - copper exploration company focused on mines in Africa - Swings to pretax loss of £2.1 million in 2024 from a profit of £7.1 million a year ago. Reports no revenue, unchanged from the prior year. Administrative expenses were down 79% to £1.1 million from £5.1 million. In 2023, Arc Minerals had a £10.9 million gain from the disposal of Handa Group which supported pretax profit. Swings to a basic loss per share of 0.15 pence from a profit of 0.58p per share in 2023. ‘While the drilling campaign by the Anglo American/Arc joint venture was frustrated by a late start to drilling it nevertheless provided valuable data over the 5 holes drilled, especially with regard to the Cheyeza target, which will be prioritised for further drilling,’ the company says. ‘The period ahead promises to be an exciting time for exploration and growth for Arc Minerals including the planned work at the new Chingola acquisition, assuming the conditions precedent are fulfilled.’
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Heavitree Brewery PLC - Exeter, England-based pub company - Says revenue increased 3.6% to £3.5 million in the six months to the end of April from £3.4 million a year ago. Pretax profit surged 96% to £1.5 million from £767,000. Heavitree benefitted from a £1.0 million profit on the sale of property, plant and equipment compared to £300,000 a year prior. Declares an interim dividend of 2.75 pence per share, up 22% from 2.25p. ‘In these uncertain times for us all, our pubs are thankfully reporting strong top line trading as our customers seek solace and comfort from the problems of the wider world in the inviting environments our operators work so hard to offer. This has been aided by a prolonged period of good weather during spring which has boosted trading for the houses,’ says Chair Nicholas Tucker. Looking ahead, the company notes just two vacancies within the estate which is a ‘pleasing position and gives the estate a strong foundation to make the best of the approaching summer.’
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Mindflair PLC - London-based investor in artificial intelligence technology - Reports net asset value at December 31 of 2.05 pence per share, down 3.8% from 2.05p at the end of 2023. Swings to a pretax profit of £3.2 million from a loss of £2.7 million a year ago. Says increase in NAV was driven by the growth in value of the Sure Valley Ventures investments, primarily due to the increase in the value of its investment in Infinite Reality.
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t42 IoT Tracking Solutions PLC - provides real-time tracking and monitoring of shipping containers - Reports revenue of $4.2 million for 2024, up 3.8% from $4.0 million in 2023. Total loss for the year widens to $1.7 million from $420,000 a year ago. Operating expenses climb 10% to $2.5 million from $2.2 million. Swings to an adjusted loss before interest, tax, depreciation and amortisation of $206,000 from a gain of $341,000. Looking ahead, Chief Executive Officer Avi Hartmann says: ‘We are actively pursuing business opportunities in key markets such as South and North America, evident from recent agreements signed and the substantial business potential they represent.’
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Gowin New Energy Group Ltd - Cayman Islands-based business involved in LED related products, tea trading and agarwood trading - Reports revenue of ¥109,000 in 2024, around £11,073, up 68% from ¥65,000 in 2023. Pretax loss narrows to ¥4.8 million from ¥5.6 million, as administrative expenses fall 15% to ¥3.9 million from ¥4.6 million. Due to the decline of the LED industry, the company confirms it has no other plans for LED business development or investment. ‘As for new business development, the group is actively exploring new opportunities, together with assessing how associated new businesses could be integrated into the group. The board continues to seek solutions to establish sustainable cashflows and a path to profitability,’ says Non-Executive Chair Garry Willinge. ‘The global impact of recently announced USA trade restrictions and various new tariff impositions as well as the geopolitical environment are known challenges, but Gowin is encouraged by its stakeholders and new business introductions, who wish to see the group successfully leverage its status as a publicly quoted company in the UK.’
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