EARNINGS AND TRADING: Future Medical loss narrows; Pennant sales grow
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:
----------
Futura Medical PLC - Guildford, England-based pharmaceutical company - Pretax loss narrows to £1.2 million in the six months ended June 30 from £6.7 million the year prior, as revenue increases to £1.6 million from £1.0 million. Diluted losses per share fall to 0.20 pence from 2.17p. Underlying revenue of £210,000 principally comprises royalty income from US sales of Eroxon, with partners in the EU and other markets continuing to sell through existing inventory during the period. Pre-exceptional administrative expenses reduce by 17% to £2.2 million from £2.6 million, while investment in research and development is steady at £730,000 versus £760,000. Chief Executive Alex Duggan says: "The first half of 2026 has been a period of significant strategic progress for Futura as we continued to execute our strategy, strengthen our portfolio and enhance the value of our key assets. We have evolved our commercial model and repositioned the US Eroxon opportunity, advanced Eroxon Intense, generated encouraging data from our WSD4000 programme, strengthened our intellectual property position, consolidated our supply chain into a strategic global source, and reduced our underlying operating cost base significantly."
----------
Mkango Resources Ltd - Vancouver, Canada-based company focused on production of recycled rare earth magnets, alloys and oxides - Pretax loss narrows to USD3.1 million in the six months ended June 30 from USD3.7 million the year prior. Sales total £51,621 versus nil the year before while expenses balloon to £4.8 million from £2.6 million. Bottom line benefits from £1.8 million fair value adjustment for a derivative liability compared to a same-sized negative revision the year before. In addition, completes the acquisition of the Remloy rare earth magnet recycling business from Heraeus Amloy Technologies GmbH for EUR8 million. Remloy has developed a plant in Bitterfeld, Germany, which recycles end-of-life rare earth magnets via a melting process to produce neodymium-iron-boron alloy powders for the bonded and hot deformed magnet markets.
----------
Sancus Lending Group Ltd - alternative financial services provider - Expects to report a pretax operating loss of around £3.4 million for the first six months of 2026, stretched from £900,000 the year prior. Sees some progress in its core markets, increasing assets under management to £339 million from £258.8 million on-year and revenue of £13.1 million, up 36% on-year. Despite this, H1 financial performance was adversely impacted by several other factors including a rise in operating expenses, a £700,000 impairment charge relating predominantly to legacy loan positions and a temporary £800,000 increase in loan financing costs. The latter is driven by higher facility fees on on-balance-sheet financed loans, elevated liquidity costs stemming from a slower-than-anticipated rate of loan deployment, and non-utilisation fees linked to a new funding facility currently awaiting utilisation. As a result, Sancus plans a comprehensive strategic plan to simplify the operating model, reduce costs and resolve operational drag factors; deliver improved interest margins by lowering the cost of capital; and de-risk the balance sheet and improve liquidity. Plans to concentrate capital and resources on its higher-growth UK and Irish activities and as such initiates a review of strategic options regarding its Channel Islands lending activities. In addition, it says it entered a liquidity facility with Somerston Fintech Ltd at the end of August. This will provide additional working capital flexibility and can be used for general corporate purposes. The maximum amount which can be drawn under the facility, which is unsecured, is £4 million.
----------
MobilityOne Ltd - Kuala Lumpur, Malaysia-based e-commerce payment solutions provider - Expects to report revenue of £236.1 million in 2025 compared to £230.2 million the year prior, and a pretax loss of £4.9 million, stretched on-year from £3.5 million. At the end of 2025, the group had cash and cash equivalents of £3.4 million, down from £4.0 million. Projects a £1.9 million impairment charge relating to 49% equity interest in Sincere as now expects to recover £2.5 million from its investment.
----------
Pennant International Group PLC - Cheltenham, England-based provider of systems support, technical services and training with focus on defence sector - Pretax loss narrows to £876,000 for the six months ended June 30 from £2.2 million the year prior. Revenue grows to £5.8 million from £4.5 million. Annual recurring revenue increases to £2.6 million from £2.1 million. Chief Executive Phil Walker says: "Revenue, margin and profitability have all improved significantly, while the successful launch of Auxilium Phase 3 and a number of strategic contract wins have strengthened our position in key markets. With growing recurring revenues, increasing demand for our solutions and a solid pipeline of opportunities, we enter the second half of the year with confidence and remain on track to meet full-year market expectations. Importantly, our order book already provides approximately 80% coverage of analyst revenue forecasts for FY2027, giving us strong visibility and underpinning confidence in the group's future growth prospects."
----------
Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Pretax loss widens to EUR29.1 million in the six months ended June 30 from EUR3.5 million the year prior. Bottom line is hurt by soaring finance costs, which jump to EUR28.7 million from just EUR7.8 million. This mainly reflects foreign currency losses on bonds and interest expenses accrued on debentures, which also include penalty interest calculated on the deferred principal. Says it continues "to assess its position and consider all available options and next steps" with regard to Casa Radio project. In May, Romania's Ministry of Finance began litigation against Plaza Centers related to the Casa Radio/Dambovita Center project in Bucharest. Romania filed a statement of claim last year, requesting to end a 2006 public-private partnership agreement with Plaza Centers, and seeking the return of all project assets to the state. For its part, Plaza Centers, also in May, filed a statement of defence and a statement of counterclaim, rejecting Romania's claims against the company and seeking compensation in the region of EUR60 million to EUR420 million. In August, Plaza filed an application for annulment in arbitration proceedings before the International Centre for the Settlement of Investment Disputes relating to the dispute.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.