EARNINGS AND TRADING: Peel Hunt hails pipeline, Contango loss widens
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and Wednesday and not separately reported by Alliance News:
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Peel Hunt Ltd - London-based broker - Expects to report revenue for the six months ended September 30 of £62.5 million, as it says it is seeing "healthy activity levels" in its core businesses. The company notes that unlike the year prior, there has been no concentration of large mergers & acquisitions, but instead a "broader and more balanced mix" of transactions. Notes strong institutional demand for equity raises. Says it enters the second half with a "solid pipeline" of opportunities across a range of transactions.
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Savannah Energy PLC - London-based developer of hydrocarbon and renewable energy projects in Africa - Says the Uquo South exploration well has been completed, with gas found in most targeted reservoirs, and findings to be evaluated through an upcoming testing programme. Says the production expansion at Stubb Creek has led to a 33% on-year increase in average gross daily production to 3,900 barrels of oil equivalent per day. Group average gross daily production totalled 16,900 boepd in the first eight months of 2026, down from 18,800 boepd on-year, though the average for the remainder of the year is expected to rise to 20,000 boepd. For 2026 as a whole, the average rate is expected to range from 18,000 to 20,000 boepd. Revenue for the eight months ended in August is USD197.5 million, up 19% from USD165.6 million a year earlier. Cash balance stands at USD62.8 million as of August 31, up from USD42.7 million, while net debt has ticked up to USD701.3 million from USD658.8 million.
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Contango Holdings PLC - Zimbabwe-focused metallurgical coal producer - Pretax loss for the year ended May 31 widens to £286,010 from £48,602 the year prior. The company remains pre-revenue. Says results reflect cash outflows of £286,010 from discontinued operations related to Monaf Investments. The disposal of Contango Gold Mali SARL was not classified as a discontinued operation, due to the "limited scale and significance" of this part of the business. Says its transition into a royalty-focused company continues, and that it has received payments under its mineral royalty agreement totalling USD2 million, with a further USD1 million expected by the end of the year. Adds: "The board remains focused on protecting Contango's economic interests in Muchesu, maintaining an
appropriate cost base and ensuring that value generated from the project is ultimately returned to shareholders."
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Apertura Energy PLC - Jersey-domiciled energy acquisition company focused on Venezuela - Operating loss for the six months ended June 30 widens to £257,672 from £99,802 a year earlier. Pretax loss widens to £284,101 from £99,548 on-year. Says the wider loss reflects operating costs incurred as a listed company and transaction costs of £257,672, together with finance costs of £26,801, arising on the unwind of an initial discount on convertible loan notes issued in April. Cash balance stands at £1.2 million as of June 30, up from £6,436 at the end of December, reflecting placing proceeds and a convertible loan note issuance. Notes that shares remain suspended pending the acquisition of Brazilian oilfield services firm Conterp Group PLC, announced in August.
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Focus Xplore PLC - company focused on gold exploration in Canada - Pretax loss for the six months ended June 30 narrows to £258,374 from £353,379 on-year. Says the first six months of 2026 "were devoted to consolidation and groundwork", as the new board looked to narrow Canadian holdings, allowing licences to lapse where costs "could no longer be justified against their prospectivity". In September, it signed new acquisition deals covering a combined licence area of 8,644 hectares. The acquisitions are expected to complete in the next few months and the company says it starts the final quarter "with a settled direction".
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