EARNINGS AND TRADING: Metals Exploration hails first-half "progress"
The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Crest Nicholson Holdings PLC - Surrey, England-based housebuilder - Says, in light of its trading update on September 3, that it remains in constructive discussions with its lenders to amend its covenants. Hopes to "ensure that it has an appropriate level of funding and liquidity going forwards." Says its debt facilities are currently subject to an interest cover covenant waiver, and it and the lenders have agreed a further extension of this waiver until November 30.
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Metals Exploration PLC - Philippines- and Nicaragua-focused gold production, development and exploration company - Reports results for the first half of 2026. Free cashflow from operations totals USD54.7 million, down from USD70.7 million the year before. Revenue decreases to USD100.0 million, down from USD118.9 million. Pretax profit rises to USD26.7 million from USD16.8 million. Administrative expenses increase to USD7.3 million from USD6.5 million, but other expenses fall to USD1.7 million from USD18.8 million. Gold production falls to 21,451 ounces from 40,985 ounces. Ore mined falls to 566,049 tonnes from 1.0 million tonnes. "The first half of 2026 has been a period of significant progress for Metals Exploration," says Chief Executive Darren Bowden. "At Runruno, despite lower grades and recoveries as operations run down to closure, the company continued to generate substantial revenues...At La India, construction continued to advance well, reaching 56% completion by the end of the period. We achieved a number of key milestones, including the ongoing installation of major process plant infrastructure, the arrival of long-lead equipment and the commencement of mine fleet mobilisation." Notes that first gold pour at La India "remains on track for December". Metals Exploration is also focused on "advancing our exciting exploration portfolio in both Nicaragua and the Philippines."
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Hargreaves Services PLC - Durham, England-based provider of services for environmental, infrastructure and property sectors - Says it has been named as the preferred bidder for a long-term contract providing logistics services for Australian recycling and resource recovery company Re.Group on the UK deposit return scheme announced by Exchange for Change. Exchange for Change is the trading name of the UK Deposit Management Organisation, the non-profit managing the scheme. Deposit return schemes see consumers pay a deposit on drinks prices, which is returned when the consumer deposits the drink container at a collection point. All four UK nations have committed to implementing a DRS by October next year. Hargreaves says it will provide collection, transport and transfer station services for the DRS in Scotland, taking responsibility for the collection and movement of returned drinks containers from retail return points to designated processing facilities. Says it will now look to finalise contractual terms with Re.Group in the weeks ahead, with further details to be announced upon the contract's final signature.
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