EARNINGS: Eco Buildings loss widens; Avation swings to annual profit
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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Eco Buildings Group PLC - London-based designer, manufacturer and builder of modular housing - Pretax loss widens to EUR939,000 in the six months ended June 30 from EUR62,000 the year prior, as revenue drops to EUR1.2 million from EUR1.8 million. Diluted losses per share are EUR0.008 versus EUR0.001. "Revenue is lower in the current period, reflecting the timing of revenue recognition across several large contracts, which can result in variability between reporting periods. This is primarily a timing effect rather than an underlying change in performance, and full-year revenue is expected to remain broadly consistent with the prior year," company explains. Reports strong commercial progress in Albania and says a "significant" expansion in manufacturing capacity is underway. International expansion is gathering momentum with progress in Senegal and Indonesia. Says its order book and business development pipeline continue to grow, "providing increased visibility over future anticipated revenue and supporting the outlook for sustained growth."
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Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Swings to pretax loss of USD2.5 million in the six months ended June 30 from USD655,000 profit the year prior, on revenue of USD272,000, down from USD3.4 million. Basic and diluted EPS are 1.2 US cents versus 0.4c a year ago. Lower revenue is primarily as a result of the suspension of production in Ukraine. "The scale and duration of disruption to the group's business continues to be difficult to predict, and there remains significant uncertainty about the outcome of the war in Ukraine," Enwell says. Continues to pursue legal proceedings to challenge the suspension orders and protect its business and assets, including arbitration proceedings under the bilateral investment treaty between the UK and Ukraine. Enwell says its limited development programme for the remainder of 2026 and 2027 is expected to be funded from its existing cash resources and potential operational cash flow.
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Ondine Biomedical Inc - Vancouver-based antimicrobial therapies developer - Net loss widens to USD16.2 million in the six months ended June 30 from USD12.6 million the year prior, on revenue up 23% to USD1.3 million from USD1.0 million. Sales growth reflects new hospital deployments and increased utilisation within existing accounts. R&D expenses increase to USD11.5 million from USD8.0 million, with the majority of spend related to the LANTERN trial. General and administrative costs are stable at USD4.4 million. With LANTERN recruitment and follow-up now complete, the company expects annual operating expenses to reduce materially, predominantly driven by a significant decline in R&D spend, although the timing and extent of any reduction will depend on regulatory, financing, commercial and operational requirements. Says its current cash position is expected to fund operations into mid-Q4 2026, an extension on the guidance provided at the time of its spring 2026 fundraise. As a result Ondine says it needs to secure additional funding in the near term and announces the commencement of an equity fund raising process. Further details will be announced in due course.
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Xtract Resources PLC - London-based diversified metals and minerals producer - Pretax loss is little changed at £979,000 million in the six months ended June 30 from £1.0 million. Administrative & operating expenses rise to £1.2 million from £781,000 but receives finance income of £167,000 versus a £265,000 cost a year ago.
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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Pretax loss from continuing operations narrows to £6.4 million in the six months ended June 30 from £8.0 million the year prior, on revenue of £3.2 million, up from £2.2 million. Sales are "in line with management expectations", highlighting continued commercial momentum. Underlying operating costs decrease by 15% to £7.9 million from £9.0 million, reflecting disciplined cost control and a simplified operating model. Remains "encouraged" by trading into the second half of 2026, supported by a strong order book carried into Q326. Is confident in delivering full year revenue growth in line with existing guidance of 50% to 60%, with Q326 year-to-date revenue growth expected to be around 50%, supporting full year revenue growth guidance.
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KRM22 PLC - London-based investor in technology and software companies, focused on risk management for capital markets - Pretax loss narrows to £293,000 in the six months ended June 30 from £1.6 million the year prior, on revenue of £3.8 million up from £3.6 million. Administrative expenses drop to £3.1 million from £4.1 million. Annualised recurring revenue is £7.9 million, up 10% from £7.2 million. "With continued growth in ARR and significant investment in the expansion of our applications to support multi-asset coverage, the foundations are being laid for accelerated growth in 2027 and beyond. Whilst delays in new contracts in the year to date has been frustrating, the sales pipeline remains strong," says CEO Dan Carter.
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Novacyt SA - Paris-based biotechnology group focused on clinical diagnostics - Operating loss before tax narrows to £5.1 million in the six months ended June 30 from £7.1 million the year prior, on revenue of £11.6 million, down from £9.8 million. Ebitda loss is £3.9 million versus £4.1 million. The Instrumentation segment delivers 30% year-on-year revenue growth, while the Clinical segment continues its strong momentum delivering more than 20% year-on-year revenue growth. All regions deliver year-on-year revenue growth with the Americas up more than 30% and Asia-Pacific more than 20%. Says restructuring programme is nearing a conclusion and will deliver material cost savings.
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Avation PLC - Avation PLC - Singapore-based commercial passenger aircraft leasing company - Swings to pretax profit of USD10.0 million in the financial year ended June 30 from USD9.7 million loss the year prior, on revenue flat at USD110.1 million. Basic EPS is 13.36 US cents versus LPS of 11.2c. Operating profit grows to USD64.3 million from USD46.4 million. Net asset value per share increases by 20% to USD4.39 from USD3.66 and an interim dividend of 1.5 US cents is declared for the year, up from 1.0c a year ago. Calls it a year of financial progress.
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