EARNINGS: Dauch reports first-quarter loss but sales jump 69%
The following is a round-up of earnings reports by London-listed companies, issued on Friday, Wednesday and Tuesday, and not separately reported by Alliance News:
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Burford Capital Ltd - London- and New York-based litigation finance provider - Total revenue is negative $1.72 billion in the first quarter, from positive $118.9 million the year before. Company incurs a capital provision loss of $2.50 billion, against $131.5 million in income. Swings to pretax loss of $1.64 billion, against the prior year’s $44.5 million profit. Reports total operating expenses of $150.1 million, against a gain of $41.1 million, with compensation & benefits expenses of $116.3 million against gains of $26.3 million. Burford says fair value adjustment results in a net impact of $1.48 billion to pretax net income from the write-down of assets related to the YPF case. Follows the US Second Circuit Court of Appeals filing a $16 billion judgement against Argentina, over the 2012 nationalisation of oil firm YPF. Burford says it is filing an en banc petition and will seek leave to appeal from the US Supreme Court if this is denied, but adds: ‘While we and many legal observers believe the Second Circuit’s decision was problematic on several levels, the probability of further relief in the US courts is low as a statistical matter.’ Says nonetheless that it will continue to pursue a recovery for claimants from the YPF-related assets, and believes these assets retain meaningful option value. Also, its portfolio is ‘large, growing and highly diversified’, and it reiterates its ambition to double its portfolio base by 2030, as well as believing that the portfolio is ‘positioned for higher levels of cash generation in the coming years’.
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Dauch Corp - producer of driveline products and systems - Reports net sales of $2.38 billion for the first quarter, up 69% from $1.41 billion the year before, but swings to pretax loss of $199.6 million from a $21.1 million profit. Restructuring and acquisition-related costs increase to $98.9 million from $19.7 million, with selling, general and administrative expenses increasing 51% to $137.3 million from $90.9 million. Dauch acquired automotive engineering firm Dowlais, which had been spun out of Melrose Industries PLC, for £1.16 billion in February. Updates its 2026 guidance, including widening sales guidance range to between $10.3 billion and $10.8 billion, from between $10.3 billion and $10.7 billion.
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Coiled Therapeutics PLC - London-based clinical stage oncology company, previously named Roquefort Therapeutics - Reports annual results on Wednesday, saying it remains non-revenue generating for 2025. Pretax loss widens to £3.4 million from £1.2 million in 2024. Coiled reports £2.5 million one-off impairment and a £39,794 loss on disposal of assets. Notes its binding agreement during the period to acquire exclusive worldwide rights for clinical-stage oncology asset AO-252, after which it reported a ‘highly encouraging’ 80% clinical benefit rate before confirming an accelerated transition into dose expansion cohorts focusing on high-value indications in ovarian and prostate cancer. ‘Our priority for 2026 is to execute our clinical strategy and deliver key data readouts from our expansion cohorts in the second half of the year...We believe positive results will provide the validation needed to initiate our own partnering discussions from a position of strength, which we see as the optimal path to driving significant, long-term value,’ comments Chief Executive Officer Sridhar Vempati.
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Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - Reports on Tuesday a £1.5 million pretax loss for the year ended November 30, narrowed from GBP£3.5 million the year before. Impairment expense falls 94% to £150,000 from £2.3 million. Notes the ‘key operational milestone’ during financial 2025 of transitioning to active underground development at the Clogau-St David’s gold mine. Says the pilot processing plant optimisation is well underway. ‘With multiple catalysts across our portfolio, we believe the company is increasingly well positioned to create significant value as our projects and investments continue to progress,’ comments Executive Chair George Frangeskides.
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UK Oil & Gas PLC - London-based energy company transitioning from onshore UK petroleum into ‘clean power’, focused on hydrogen-ready gas storage projects - Reports on Tuesday a £432,000 in revenue for the year ended September 30, down 61% from £1.1 million the year before. Pretax loss narrows to £4.1 million from £38.5 million. Impairment of oil and gas assets decreases 97% to £121,000 from £3.6 million, and impairment of exploration and evaluation assets falls 99% to £227,000 from £32.5 million. ‘We have continued to progress the group’s strategic focus on hydrogen storage, supported by ongoing project development, stakeholder engagement and recent fundraisings,’ says CEO Stephen Sanderson. ‘These steps are intended to support the company’s longer-term development.’
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