EARNINGS AND TRADING: Zenith Energy books loss in year of investment
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:
----------
Defence Holdings PLC - London-based software-led defence technology company - Reports no revenue for the year ended March 31, down from £4.3 million for the 18 months ended March 31, 2025. Says financial 2026 was a pre-revenue investment year for its new defence technology strategy. "Having completed the disposal of its former esports operations and repositioned itself around defence technology, the company moved from strategic reset into the early delivery phase of a software-led defence platform," it elaborates. Reports operating loss of £4.6 million, widened from £3.0 million. Pretax loss widens to £4.6 million from £1.0 million. Administrative expenses decrease to £4.6 million from £5.2 million. Basic & diluted loss per share widens to 0.24 pence from 0.17p. Looking ahead, Defence Holdings says it "enters the next financial year with a more credible leadership platform, a defined strategic partnership [with Whitespace Global Ltd], an active sovereign AI product pipeline, a hyperscale infrastructure relationship for our product building efforts, a structured Accelerator and improved market access."
----------
Petra Diamonds Ltd - South Africa and Tanzania-focused diamond miner - Issues update for the fourth quarter of financial 2026. Says ore processed decreases 18% to 1.4 million tonnes at the Cullinan and Finsch mines. The former remained "largely on track" but production at the latter has been suspended since June 10. "It is with great regret that...Finsch was placed into business rescue," Chief Executive Officer Vivek Gadodia says. "Despite its strong operating performance, its large proportion of smaller goods, compounded by the strength of the rand, made the mine untenable in these unprecedented market conditions." Also says: "We continue our short-term shift of focus at Cullinan Mine to maximise production from the C-Cut, which yields a higher proportion of large and fancy coloured diamonds, and we anticipate this will provide some mitigation against the broader weaker market." Petra's revenue for the quarter totals USD38 million, down from USD68 million in the third quarter. Diamonds sold comprise 547,220 carats, down 30% from 781,797 carats. Diamond production totals 484,730 carats, down 20% from 607,396 carats. "[Petra] has been engaging with its senior lender to facilitate liquidity in the short term...As a result, the senior lender has agreed to defer the payment of approximately USD6 million of cash interest...to January 2027, and in addition has also provided an additional short-term working capital facility of ZAR300 million (approximately USD18 million)," Gadodia says.
----------
Georgina Energy PLC - onshore helium and hydrogen explorer with permits in Australia - Says the water well contractor is mobilising to site and will start drilling "shortly" to support the Ensign 970 drill rig for the third-quarter drilling work at the 100%-owned Hussar prospect EP513. Says Ensign 970 remains on track for mobilisation to the Hussar site, and the drill testing timeline remains unchanged. Says the 50-day drilling programme will target primary subsalt reservoir formations, including the Townsend Formation and fractured Neoproterozoic basement lithologies, for helium, hydrogen and natural gas. Says Hussar EP513 has IGR-certified 2U prospective resources of 285 BCFG helium and 315 BCFG hydrogen, with 2.93 TCF of natural gas. Inspections are ongoing to make sure the work programmes are complete to ensure compliance with the Department of Mines, Petroleum & Exploration's approved Well Management Plan lodged by Georgina subsidiary Westmarket Oil & Gas Pty Ltd in 2025.
----------
Frontier IP Group PLC - London-based company focused on commercialising intellectual property - Says that Pulsiv Ltd has signed an exclusive manufacturing and wholesaling agreement with specialist electronics business Delta Matrix Ltd, which is part of Easby Group. Says this is the first time customers will be able to buy tangible products based on Pulsiv's OSMIUM AC to DC power conversion technology, with Delta manufacturing USB output modules. Frontier IP says potential applications include in power charges, and the sockets are being incorporated into buildings, furniture, trains, planes and vehicles. Adds that Easby's Easby Electronics will market, sell and distribute the modules, while Pulsiv retains the right to license the technology to other companies. Frontier IP has a 17.3% equity stake in Pulsiv.
----------
DSW Capital PLC - Warrington, England-based professional services provider via the Dow Schofield Watts and DR Solicitors brands - Reports final results for the year ended March 31. Revenue increases 12% to £6.2 million from £4.9 million the year before, "reflecting strong underlying demand and improved utilisation." Increasing DR Solicitors' consultant headcount by 48% to 31 also drives revenue growth. Pretax profit falls to £798,000 from £1.3 million. Adjusted Ebitda decreases to £1.7 million from £1.8 million. DSW proposes final dividend of 2.0p, unchanged year-on-year, increasing the total dividend to 3.2p from 3.0p. Says the integration of DR Solicitors is progressing well, and that advancing diversification has reduced its dependence on mergers & acquisitions. Says M&A accounts for 31% of total income, down from 55%. DSW says it is performing well and trading in line with its expectations, and has a growing pipeline of opportunities to further scale its platform.
----------
Zenith Energy Ltd - energy production and development company with assets in Italy, US and Tunisia - Reports revenue of CAD2.3 million from oil and natural gas for the year ended March 31, up from CAD2.1 million for the prior year. Sells 178.8 million cubic feet of natural gas from its Italian assets, up from 185,080 mcf. Swings to pretax loss of CAD28.2 million, from a CAD1.1 million profit. Notes CAD8.0 million in "extraordinary legal, advisory, administrative and court costs" from its arbitration proceedings against Tunisia; CAD1.7 million in costs linked to its listing in Stockholm; and CAD1.4 million in non-cash items. "The financial results for the year reflect a period of significant strategic investment rather than the underlying performance of the business," comments Chief Executive Officer Andrea Cattaneo. Adds: "The company enters the new financial year with considerable momentum across each of its core strategic pillars. Alongside the continued advancement of the arbitration proceedings, we are progressing a growing portfolio of energy assets spanning conventional energy, renewable power and uranium, with a clear focus on creating sustainable long-term shareholder value."
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.