EARNINGS: AOTI profit jumps; Avingtrans delivers record revenue
The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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AOTI Inc - Oceanside, California-based medical technology firm - AOTI Inc reports pretax profit rises 78% to USD1.4 million in the first half of 2026 from USD788,000 a year earlier, as revenue increases 11% to USD35.3 million from USD31.8 million. Underlying revenue growth, excluding Arizona Medicaid, is 19%, while total operating costs rise to USD28.8 million from USD25.9 million. The medical technology company says it expects 2026 underlying revenue growth in the mid-teens, excluding Arizona Medicaid, and low-single-digit reported growth, in line with previous guidance. It expects full-year Ebitda in line with current consensus and describes 2026 as a "transformative" year as it moves towards final Medicare coverage for its TWO2 therapy, which it says would significantly expand its US addressable market.
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Avacta Group PLC - London-based clinical-stage biopharmaceutical company - Reports that its pretax loss widens to £18.8 million in the first half of 2026 from £16.9 million a year earlier, while revenue remains unchanged at £56,000. The company holds £20.3 million in cash and short-term deposits as of June 30, falling to £10.6 million as of August 31. Avacta says it is encouraged by preliminary clinical data for AVA6103, its next-generation pre|CISION peptide-drug conjugate platform, with first efficacy data from the FOCUS-01 trial expected in the first half of 2027. It says its current cash runway extends into early 2027, and that it is launching an equity fundraise to extend this further into the year and support development of AVA6103, AVA6000 and AVA6207. Avacta enters AIM's Capital Access Window from Wednesday, temporarily pausing trading in its shares while it conducts the fundraise. The window will remain in place until Avacta announces the results of the proposed raise.
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Avingtrans PLC - Cambridgeshire, England-based maker of equipment, such as motors and pumps, for the nuclear, medical and industrial markets - Reports pretax profit rises 22% to £8.4 million in the year ended May 31 from £6.9 million a year earlier, as revenue increases 4.4% to a record £163.3 million from £156.4 million. Diluted earnings per share from continuing operations rises to 19.1 pence from 18.6p. Avingtrans proposes a 3.1p final dividend, taking its total payout to 5.1p per share from 4.9p. The group says strong momentum continues into financial 2027, with trading in the first quarter in line with management expectations and its nuclear pipeline growing. It says visibility is extending into the next decade and it continues to invest across its energy and medical divisions, while remaining vigilant amid global uncertainty. Separately, Avingtrans acquires the intellectual property, trading history and brand of US nuclear engineering specialist Joseph Oat Corp for USD2.5 million in cash. It says the acquisition complements its existing US nuclear operations and expands its access to legacy installed equipment and qualified AP1000 components.
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Bezant Resources PLC - London-based copper and gold exploration company - Swings to a pretax loss of £2.2 million in the first half of 2026 from a £4.1 million profit a year earlier, as operating expenses rise to £1.8 million from £344,000. Basic loss per share from continuing operations is 0.011 pence, compared with earnings of 0.027p. The copper-gold exploration and development company says its flagship Hope and Gorob project in Namibia is approaching the transition into production. Bezant expects first concentrate production in early October, transport to Walvis Bay towards the end of October and the first shipment in early November. Mining has already established a stockpile of around 10,000 tonnes of run-of-mine material, while financing and offtake arrangements with Hartree Metals are in place.
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Coastal Africa Group Ltd - British Virgin Islands-registered company set up to invest in energy projects in West Africa - Reports a £1.9 million pretax loss for the period from its incorporation on December 30 to June 30, including £901,200 of costs related to its admission to AIM. Basic and diluted loss per share is 1.56 pence. The company says it raised £27.4 million in gross funding on admission to AIM in June, comprising £17.4 million from a share subscription and £10.0 million of convertible loan notes issued to BP Oil International Ltd. Coastal holds £26.1 million in cash at June 30 and says it is actively assessing acquisition and investment opportunities across West Africa, with its focus on concluding its first investment.
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Aura Energy Ltd - Fremantle, Western Australia-based uranium and battery metals company - Reports that its annual net loss narrows to USD11.6 million in the year ended June 30 from USD15.3 million a year earlier. Its operating loss narrows to USD11.9 million from USD15.9 million, while basic and diluted loss per share improves to 1.18 US cents from 1.73 cents. The company says the loss primarily reflects USD5.4 million of corporate and administrative expenses and USD4.4 million of employee benefit expenses, partly offset by lower share-based payment expenses of USD2.1 million. Cash and cash equivalents rise to USD16.0 million at June 30 from USD11.7 million a year earlier, while capitalised exploration and evaluation assets increase to USD56.3 million from USD50.5 million.
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Aterian PLC - minerals exploration and trading in Africa, including copper-silver projects in Morocco and Botswana and an exploration licence in Rwanda - Pretax loss narrows to £568,000 in the first half of 2026 from £698,000 a year earlier, as revenue jumped to £1.3 million from £20,000. Gross profit rose to £522,000 from £3,000, while its operating loss narrowed to £324,000 from £658,000. The company says growth was driven by the development of its Rwanda mineral trading business. Around USD2.2 million was deployed in working-capital purchases during the half, with management estimating a potential sales value of USD2.8 million and potential gross trading profit of around USD602,000. Aterian expects trading volumes to scale significantly from the fourth quarter of 2026.
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Celsius Resources Ltd - developer of the Maalinao-Caigutan-Biyog copper-gold project in the Philippines - Reports that its annual loss widened to USD23.4 million in the year ended June 30 from USD7.6 million a year earlier, largely reflecting a USD30.7 million impairment expense. The loss from continuing operations widened to USD23.3 million from USD3.0 million, while loss per share was 0.69 US cents compared with 0.28 cents. The miner says it remained focused on its Maalinao-Caigutan-Biyog copper-gold project in the Philippines during the year, completing a definitive feasibility study and raising around AUD9.3 million in equity. The study outlined a 35.3-year mine life and a post-tax net present value of USD771 million over the life of the mine
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Seeen PLC - London-based social media and technology company - Swings to a pretax profit of USD152,434 in the six months ended June 30 from a USD516,953 loss a year earlier, as revenue rises 45% to USD3.0 million from USD2.1 million. Diluted earnings per share improve to 0.11 US cents from a loss per share of 0.42 cents. The firm says revenue growth includes around 40% organic growth and two months of contribution from its acquisition of Medial. Growth has continued into the second half, while Seeen says its sales pipeline continues to expand across all offerings, including opportunities that could represent its largest technology sales to date. CEO Adrian Hargrave says: "During the period, we successfully grew all parts of the business with technology growing by 50% and our CSP business growing by 35%. This demonstrates that we have a clear value proposition for video owners in the age of AI, as customers use our algorithms to both better monetise video directly or make them more discoverable on third-party platforms, ranging from YouTube to Claude and ChatGPT."
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