EARNINGS AND TRADING: Quadrise starts strategic review as losses mount
The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
----------
Quadrise PLC - London-based energy company - Pretax loss widens to £4.3 million in the financial year ended June 30 from £3.2 million the year prior. Revenue totals £89,000, up from £42,000, but production and development costs rise to £2.1 million from £1.6 million. Bottom line is also hurt by £245,000 impairment of trade receivables versus nil the year before, and £366,000 share option charges against £112,000. Says its cash runway is expected to extend to September 30, 2027, assuming operational and financial delivery in line with the board's expectations. Alongside the results, Quadrise says it has launched a strategic review to "identify and assess strategic, corporate, commercial and financing options, including potential partnerships." Among the options expected to be considered are: the grant of a master licence to the Quadrise Technology to exploit the technology in defined geographic and/or application segments; the creation of a private subsidiary joint venture company with a strategic investor to exploit Quadrise technology; the sourcing of a strategic investor to invest in a non-controlling stake in the company; and a strategic investment in and/or acquisition by the group of a related privately held business or businesses to create a marine technology group with increased scale. Quadrise says it will prioritise potential partners that can provide not only financial resources, but also capabilities to accelerate production. It stresses it is not pursuing or inviting offers for the company. Chair Andy Morrison says: "Our focus is firmly on turning our opportunity into commercial delivery and long-term shareholder value. We recognise that achieving adoption at the scale and pace we are targeting will require additional financial, commercial and operational capability. The strategic review is intended to identify ways of bringing those resources alongside Quadrise to accelerate deployment."
----------
Blencowe Resources PLC - London-based mining company that is developing the Orom-Cross graphite project in Uganda - Completes the second phase exploration programme over identified geophysical targets situated immediately north and south of its existing deposits at the Orom-Cross graphite project in northern Uganda. Graphite was found outcropping at surface across the targets tested, along some 25 kilometres of strike, all within the company's own lease areas. Grab samples from three of those targets returned high grade results above 20% total graphite content. Interim CEO Iain Wearing comments: "To date every geophysical target identified has been marked with significant surface outcropping of graphite. This points clearly to multi-decade production potential, a key and constant message in the ongoing discussions with strategic groups seeking secure long-term supply. The presence of potential high-grade zones throughout underlines the quality of this project." He adds: "We anticipate significant newsflow ahead and remain confident of Orom-Cross fast emerging as one of the most significant long-life graphite projects globally, and these results further enhance engagement with strategic groups focused on multi-decade supply security."
----------
Safestay PLC - London-based hostel operator - Says year-to-date trading remains below board expectations following a weaker-than-anticipated summer, despite recent improvements. The hostel operator warns of continued liquidity pressures during the quieter winter months and is exploring further property disposals and a review of financing arrangements to strengthen its financial position. Bank borrowings fall to £9.1 million as at October 23 from £13.6 million at June 30, following property sales in Glasgow and Holland Park. Safestay is also reviewing operating costs and plans to relocate its head office to its Elephant & Castle hostel in November to generate savings, while continuing refurbishment work across its portfolio.
----------
Critical Metals PLC - London-based mining company, operating the Molulu copper/cobalt project in the Democratic Republic of Congo - Reports a narrowed pretax loss of £317,935 for the financial year ended June 30 from £2.4 million a year earlier, helped by £842,991 in debt forgiveness and lower administrative expenses. The company records no revenue in either period, while its operating loss before exceptional items narrows to £980,902 from £1.8 million. Critical Metals highlights progress at its Molulu copper and cobalt project in the Democratic Republic of Congo, where fieldwork resumes following a £2.1 million convertible loan note financing with NIU. The first phase of its exploration and trial mining programme aims to establish an ore stockpile for commercial validation, with initial results from extraction, dispatch and delivery expected in late December. Chief Executive Danilo Lange says the start of fieldwork at Molulu marks an "important step forward" for Critical Metals. "Our focus is on completing the field programme, understanding the mineralised areas and determining whether the initial target can support scout mining. We remain committed to building momentum at Molulu and, as the programme progresses, keeping shareholders informed through regular updates on operational developments, results and the next phase of development."
----------
BioVentix PLC - Surrey, England-based biotechnology company - Pretax profit edges up to £10.2 million in the financial year ended June 30 from £10.1 million the year prior. Revenue drops 0.8% to £13.0 million from £13.1 million which BioVentix says is slightly ahead of market expectations. Notes three-fold increase in Tau/neuro royalty revenues driven by increased use of antibodies in research use only assays at three of the newer high sensitivity platform companies active in Alzheimer's diagnostics. "We expect these royalties to increase further," firm adds. Announces second interim dividend of 80 pence per share, taking total payout to 150p per share which is unchanged on-year. "We expect that the year to 30 June 2027 will follow a similar pattern to this year. Revenue generation from our historic core business will be subject to headwinds and be replaced and increasingly augmented by sales from our growing Tau and neurology portfolio of antibodies. Longer term we expect the neurology portfolio to deliver growth to offset the challenges that our legacy antibodies will continue to face. The timing of that growth is difficult to forecast but our level of confidence in the opportunity is undiminished."
----------
Sareum Holdings PLC - Cambridge, England-based pharmaceutical company - Raises £3.2 million through a subscription at a price of 14 pence per share. The subscription includes new and existing investors, including two new institutional investors which were introduced to by Marex Financial. Each subscription share carries one warrant to subscribe for one new share at an exercise price of 20 pence, exercisable at any time during the period of three years from admission of the shares. Net proceeds are expected to fund the company's lead programme, SDC-1801, to a phase 2-ready position and to continue work on the neuroscience programme. Firm also intends to launch a retail offer to its existing shareholders at the same price.
----------
Cizzle Biotechnology Holdings PLC - London-based life sciences company engaged in developing a blood test for the early detection of the different forms of lung cancer - Raises £500,000 by way of a direct subscription by Frazer Lang, an existing shareholder, for 62.5 million shares at a price of 0.8 pence each. The subscription shares will be subscribed for in two tranches, each at the issue price. The funds are to support the company's programme in delivering early sales adoption of its proprietary CIZ1B biomarker blood test for lung cancer, through its licensing strategy in the US and in partner agreements in the UK and elsewhere.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.