EARNINGS: Cake Box profit jumps; Oxford BioDynamics names new CEO
The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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BSF Enterprise PLC - London-based biotechnology investment group with focus on fields including lab-grown meat and leather - Pretax loss mounts to £1.0 million in the six months ended March 31 from £793,963 the year prior. Revenue drops to £18,785 from £20,559, while administrative costs increase to £1.0 million from £875,730. Prior year also benefited from £67,823 grant income versus nil. Rising costs reflect higher legal and professional fees, including expenses related to a proposed fundraising, costs associated with the corneal development collaboration with the Universite de Montreal, and a higher level of consumables used to accelerate lab-grown leather development. The group's cash balance as of March 31 stood at £60,174, compared with £149,020 at September 30, 2025. No dividends were declared, unchanged. "Intellectual property remains central to the group's value creation strategy," it says. "While the group remains in an investment and development phase, the progress achieved during the six-month period demonstrates increasing commercial engagement, continued technology validation and growing recognition of the potential value of our innovations," it adds.
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Secure Property Development & Investment PLC - Southeastern Europe-focused commercial property investor - Swings to pretax loss of EUR711,985 in 2025 from EUR13,226 profit the year prior, as net operating income declines to EUR783,276 from EUR1.3 million. Administration costs increase by around 25%, mainly as a result of the VAT amounts "that the group was forced to expense as part of the minimisation of its operations." During 2025, the company completed the sale of its entire portfolio of real estate assets "as part of the corporate strategy to become an asset-free entity." As a result of the sales, the company has no bank debt. The firm is now evaluating "various options" of utilising the AIM listed corporate shell status "with the view to generate further value for its shareholders." It signed a heads of terms with AdvEn Inc, a Canadian company producing activated carbon, an electricity storage ingredient for batteries, last October. By year-end, the company said talks are "progressing" and have been "continuous and substantial".
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Pri0r1ty Intelligence Group PLC - London-based software-as-a-service company focused on AI - Pretax loss stretches to £878,649 in the six months ended March 31 from £860,267 the year prior. Revenue balloons to £359,580 from £37,000 but 'other expenses' jump to £983,322 from £570,436. Current year benefits from absence of £326,831 costs associated with listing in the prior year, although this is somewhat offset by depreciation charge of £34,059 and amortisation of £100,562 versus nil the year before. Company says more than 200 paying platform users are now using Pri0r1ty products reflecting expansion into new sectors and growth of core AI products. The firm continues to track towards "achieving its objective of cash flow positivity in FY27, with a target to exceed 500 paying platform users."
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Firering Strategic Minerals PLC - Zambia and Ivory Coast-focused mining company - Pretax loss widens to EUR2.5 million in 2025 from EUR1.2 million the year prior. Zero income is reported against EUR212,000 a year ago, while general and administrative expenses decline to EUR1.0 million from EUR1.2 million. But bottom line suffers from EUR341,000 negative revaluation of derivatives, EUR337,000 impairment of investment in shares versus nil a year ago, and higher financial expenses of EUR292,000 versus EUR81,000 a year ago. Chair & Interim Chief Executive Youval Rasin says: "Firering is a very different business from the one it was 18 months ago. Through Limeco, [we] now hold a 45% interest in a revenue generating lime products business, with established infrastructure, a substantial resource base, a fully permitted producing operation and a strong position in one of the world's most active copper/gold producing regions." On Monday, Firering said it was exercising an option to increase its interest in Limeco to 45% from 41.7%. "With additional capacity coming online, new product opportunities, and strengthening customer relationships, we believe Limeco is well placed to deliver the next phase of growth and establish itself as a leading industrial minerals business in Southern Africa," the interim CEO adds.
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Team PLC - Jersey-based wealth, asset management and financial services - Pretax loss widens to just over £1.8 million in the six months ended March 31 from just below £1.8 million the year prior. Revenue increases to £6.9 million from £5.8 million, excluding the March acquisitions of WH Ireland Group PLC, EPIC Fund Services Guernsey Ltd plus 8 investment mandates from EPIC Markets (UK) LLP. These acquisitions create an enlarged group with around £2.3 billion of assets under advisory and management more than double the prior year's £1.1 billion and create a "solid foundations for a modern, efficient, scalable UK & International platform for growth," Team says. Loss per share is 2.9p, narrowed from 3.6p a year ago. Cash in bank increases to £3.8 million as at March 31 from £2.2 million a year ago, benefitting from cash brought into the business alongside the acquisition of WH Ireland. Team hails "strong progress towards cash breakeven, with cost efficiencies and revenue growth converging on this milestone." It remains on track to become monthly cash positive by the end of 2026 or early 2027.
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Cake Box Holdings PLC - Enfield, Middlesex-based retailer of fresh cream celebration cakes - Pretax profit rises to £6.9 million in the 52 weeks ended March 29 from £5.9 million the year prior as revenue jumps 40% to £59.7 million from £42.8 million. Organic sales growth is 9.3% with like-for-like increase of 4.8%. Sales include a maiden full-year revenue contribution from Ambala of £14.1 million, with strong progress made on integration and operational efficiencies. Store numbers grow to 310 from 273 on-year with 25 new Cake Box stores and 12 new Ambala stores. Online sales increase by 20% year-on-year to £22.9 million and website orders grow by 16%, with 289,000 new online customers. Trading in financial 2027 has started "positively" and ahead of 2026, supported by continued momentum in system sales performance, Cake Box says. The group is targeting continued store growth with a combined 35 new stores in the financial year. Raises final dividend by 5.9% to 7.20 pence per share from 6.80p, taking the total payout to 10.8p per share, up from 10.2p.
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Mercia Asset Management PLC - alternative asset manager focused on regional UK small and medium enterprises - Swings to pretax loss of £7.7 million in the financial year ended March 31 from £5.4 million profit the year prior. Revenue slips to £34.1 million from £35.2 million. Figures include unrealised fair value movement in direct investments loss of £12.8 million versus a gain of £300,000 the year before. "The unrealised fair value movement in the direct investment portfolio largely reflects external comparable valuation multiples, which have been impacted by current market sentiment," Chief Executive Mark Payton explains. Net asset value per share drops to 40.8 pence from 43.6p. Final dividend is raised to 0.61p per share from 0.58p, making the total payout 1.0p versus 0.96p a year ago. Assets under management are broadly flat at £2.00 billion.
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Oxford BioDynamics PLC - Oxford, England-based biotechnology company that develops medical tests - Announces half-year results, a new chief executive and a US contract. Pretax loss narrows to £4.5 million in the six months to March 31 from £5.9 million the year prior, reflecting lower staff, general and other administrative costs. Revenue rises to £687,000 from £587,000. Cash and term deposits at March 31 are £2.5 million, up from £1.4 million at September 30. Trading in the first half is in line with management expectations and company believes market expectations for the full year remain "reasonable". In addition, appoints Richard Compton as chief executive with immediate effect. Iain Ross, who has served as executive chair since January 2025 will remain as non-executive chair. Compton is a public company life sciences executive with more than 25 years of operational, commercial and P&L leadership, including senior leadership roles at Oxford Nanopore Technologies PLC and Illumina Inc. Further, the company enters into a commercial services agreement with MK Commercial Group, a specialist life sciences contract commercialisation organisation, to initially deploy seven field-based sales professionals across the US, with the ability to scale to up to 35 depending on demand. "The partnership materially increases OBD's physician-facing commercial reach across the US without the fixed-cost structure of a fully employed sales organisation," it notes.
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