EARNINGS AND TRADING: CRISM wins 'highly competitive' UK grant
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Finseta PLC - London-based currency exchange provider - Reports revenue of £12.4 million for 2025, up 9.4% from £11.4 million for 2024. Notes that active customers increased on-year to 1,101 from 1,059. Swings to £1.3 million loss from a £1.4 million profit. Total administrative expenses increase 42% to £8.9 million from £6.3 million. Adjusted earnings before interest, tax, depreciation and amortisation fall 91% to £181,378 from £2.0 million. Cash and equivalents total £1.5 million at December 31, down from £2.6 million one year prior. Says customer acquisition growth has continued, ‘including good traction with corporate customers,’ with ongoing ‘strong momentum’ and expectations for further ‘healthy growth’ in Dubai. ‘We continue to strengthen our capabilities that will enable Finseta to become the primary payments provider for customers in sectors that are typically underserved by traditional banks and to make progress towards further expanding our international reach and regulatory permissions,’ comments Chief Executive Officer James Hickman. ‘Accordingly, the board continues to have strong levels of confidence in Finseta’s prospects and in our ability to accelerate sales growth and increase profitability in the medium term.’
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Halo Minerals PLC - London-based mineral development company - Reports a £1.7 million pretax loss for 2025, widened from £489,000 for 2024. Administrative expenses total £1.2 million, up from zero. Cash and equivalents total £356,000 as at December 31, up from £14,000 one year prior. Notes that in 2025 it completed the acquisition of Copper Bay Ltd, the owner of the Playa Verde copper tailings project in Chile. Its environmental impact assessment was approved in October, meaning that Halo can advance Playa Verde towards optimised definitive feasibility and bankable feasibility studies. Looking ahead, Halo says its priorities include progressing towards the final investment decision; accelerating Playa Verde towards production; and building a portfolio of similar surface, metal-rich legacy mine waste assets to diversify from single-asset status. Also notes its admission to AIM in March. ‘These milestones provide a strong foundation for the Company as we move into our next phase of growth...We believe tailings projects offer lower geological and operational risk and capital intensity than primary mines, while still providing exposure to US dollar-denominated cash flows and play a key role in assisting the world in accessing the critical minerals it needs,’ comments CEO Andrew Dennan. ‘Playa Verde has all these attributes and is a highly attractive project...in an environment where copper prices have continued to be strong and are expected to rise further due to long term supply constraints and increasing demand - driven by electrification, AI infrastructure, grid upgrades and EV adoption.’
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Sunrise Resources PLC - industrial mineral projects developer - Remains non-revenue generating for the six months ended March 31, unchanged from the previous year. Pretax loss narrows slightly to £147,728 from £147,902. Reports no impairment of deferred exploration assets for the period, against a £3,663 impairment the year before. Other income increases to £9,338 from £1,968. Pre-licence exploration costs increase to £2,272 from £1,443, and administration costs rise to £154,794 from £144,781. Executive Chair Patrick Cheetham says that since its annual general meeting in March, Sunrise ‘has taken a number of steps’ to get ‘on a better financial footing’, including a £225,000 share placing in April. Looking ahead, Cheetham says the firm considers the CS Natural Pozzolan and Pioche Sepiolite projects to be its most valuable assets, and that it remains committed to pursuing suitable industry partners to support their development. ‘We ask our shareholders for further patience, but in the meantime your board is considering alternative and supplemental strategies where the company can better control the pace of developments and news flow,’ he adds.
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River UK Micro Cap Ltd - London-based investor focused on companies with market caps under £100 million - Reports net asset value per share of 234.64 pence as at March 31, up from 198.64p one year prior. NAV total return for the six months ended March 31 is minus 5.7%, compared with minus 2.4% for the previous year and a minus 5.1% return generated by Numis Smaller Companies plus AIM (excluding Investment Companies) Index. ‘Never a dull moment here at River UK Micro Cap...I was rather hoping to be reporting a stellar set of performance figures in the region of +25% over the period, but events in the Gulf have brought to a halt a very positive trading environment that was pushing small and micro cap valuations ever higher,’ Chair John Blowers comments. Says the board ‘has great confidence in George Ensor as fund manager and when the macro-economic brakes are released post-conflict, we can see the very positive growth story start to re-emerge’. He continues that a ‘positive period of performance growth, prior to the Iran war...was powering the company towards the sixth capital redemption, where investors receive a cash payout when the company achieves NAV over £100 million. Clearly, a little more patience will be required until we can make that next payout to you. Hopefully, you can see that once a little global stability returns, we can get back to performing strongly.’
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CRISM Therapeutics Corp - British Virgin Islands-based pharmaceutical firm - Wins a £896,088 non-dilutive grant from Innovate UK under the ’Biomedical Catalyst 2025: Industry-led R&D Large Projects’ competition. Says this grant will support the delivery of Part 1 of its phase 2 clinical trial for irinotecan-ChemoSeed in surgically resectable glioblastoma patients, and represents 70% of the total £1.3 million project cost. Calls the award one of the UK’s most competitive translational funding programmes and says it provides substantial non-dilutive funding; an independent validation of its clinical strategy, technology and commercial potential; help to recruit more patients faster; and a stronger position for future partnering, licensing and investment discussions. ‘We are delighted to secure this highly competitive Innovate UK Biomedical Catalyst award, which represents a major endorsement of both our technology and strategy,’ comments Executive Chair Andrew Webb. ‘This non-dilutive funding enables us to accelerate part 1 of our open-label registration-grade Phase 2 trial in glioblastoma, a disease with profound unmet need and limited treatment options. We look forward to updating shareholders in the near term on the commencement and progress of the Phase 2 trial as we advance this important programme.’
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