EARNINGS: Generation Essentials interim profit jumps to USD28 million
The following is a round-up of updates by London-listed companies, issued Wednesday and not separately reported by Alliance News:
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Generation Essentials Group - Joint venture of AMTD Group, AMTD IDEA Group, and AMTD Digital Inc focused on global strategies and developments in multi-media, entertainment, and cultural events worldwide as well as hospitality and VIP service - First half revenue from contracts with customers rises to USD30.8 million from USD22.6 million a year ago. Petax profit jumps to USD28.0 million from USD3.6 million. First half earnings per share rises to 56 US cents from 12 US cents. During the period, acquires and integrates four hotel properties in New York, Perth, Kuala Lumpur, and London. "Driven by these strategic acquisitions and strong operational execution, revenue from our hotel operations, hospitality, and VIP services segment surged by 60% compared to the same period last year. This served as a primary driver for our 36% growth in revenue from contracts with customers, which reached USD30.8 million," company says. Director Feridun Hamdullahpur adds: "This was an outstanding growth year for TGE, with several strategic long-term acquisitions and investments worldwide being concluded. With the addition of the new hotels and the new L'Officiel Coffee & Bar, TGE is expanding its global presence.
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Mollyroe PLC - investment firm focused on AI business opportunities - Swings to first half pretax profit of £21,257 from a £75,915 loss a year ago. The investment strategy has been focused on opportunities "delivering value accretion from the highest-quality AI business opportunities, with the potential to change industries and create enduring value," it says. Mollyroe has identified Cascade Holding Ltd "as an exciting prospect, which met the company's investment criteria and was potentially transformational to the market in which it operates," it says. Since September 20205 Mollyroe has invested in Cascade via multiple subscriptions for convertible loan notes, providing Cascade with £725,000, of which £575,000 was in the first half. The companies on September 15 announced a share purchase agreement under which Mollyroe would acquire the entirety of Cascade for £4.7 million. Shareholders will vote to approve the deal on October 9.
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British & American Investment Trust PLC - London-based investment firm - First half pretax widens to £157,000 from £172,000 a year ago. Net asset value per share falls to 4.00 pence from 5.00 pence a year ago. Declares no dividends, unchanged. Comments: "This is another very disappointing six month performance, reflecting the continuing low stock price of our largest US investment Geron Corp...While the price levels of this stock have consolidated at levels somewhat higher than those in 2025, they are nevertheless substantially below prior year values, despite strong operational and sales progress made by the company over the past two years, as noted in more detail in the managing director's report below. Our second largest US investment, Lineage Cell Therapeutics also performed poorly over the period after a significant period of out-performance in 2025, resulting in this year’s overall disappointing first-half results."
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Grand Vision Media Holdings PLC - Hong Kong-based digital media company - First pretax loss widens to HKD2.2 million from HKD1.7 million a year ago as turnover falls to HKD1.1 million from HKD1.6 million. Comments: "The group continued its focus on cost controls whilst exploring alternative revenue streams and new projects." Adds: "In the first six month of 2026, the economy and global market conditions remain volatile. We continue to manage costs and explore new revenue streams. We intend to re-finance the Group through shareholder loan which provides adequate working capital. We are also seeking new projects to diversify our business to lessen the dependency on local markets."
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Globe Capital Ltd - Cayman Island-based worldwide marketing company - Pretax loss narrows to £61,000 from £68,000 a year ago. Reports no revenue, unchanged. Comments: "The company did not complete any investment transactions during the period. The company's investment strategy remains to seek medium-to-long-term investments in businesses that exhibit growth potential, and to be an active investor in situations where the company can make a clear contribution to the growth and development of the investment. The board continues to review the company's investment policy and to evaluate opportunities against that strategy." Adds: "The Board's priorities for the remainder of 2026 are to continue to control costs, to resolve the company's legacy liabilities and to secure the funding and investment opportunities that will allow the company to deliver value for shareholders. The company remains well placed to take advantage of suitable opportunities as they arise and will update shareholders as appropriate."
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Cindrigo Holdings Ltd - Guernsey-based renewable energy company focused on geothermal power and waste-to-energy projects - First half pretax loss narrows to £2.1 from £2.4 million a year ago as revenue rises to £23,000 from none. Chief Executive Lars Guldstrand says: "It has been a period of progress for Cindrigo as we continue to consolidate our strategy of developing a platform of businesses dedicated to supporting Europe’s energy transition with secure, affordable and sustainable energy. In Finland, we have successfully relocated our Finnish biomass business to Heinola, which provides a commercially more attractive operating base for our integrated energy plant and wood pellet factory. In Germany, our geothermal assets continue to progress, with a 50% increase in the resource potential of our Eich Heat-Power-Lithium geothermal project underpinning the significant value potential, as we focus on advancing our first production well, EichGT-1, to drill-readiness. These achievements are all the more significant given the frustrating funding delays we have experienced, which has constrained the pace of progress. Our priority now is to conclude the ongoing financing and investment process, so that we can advance to the next phase of development."
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Evrima PLC - investment issuer focused on commodities, mineral exploration and development - Swings to first half pretax loss of £10,802 from profit of £322,561 a year ago. Reports no turnover compared £6,667. Comments: "The company's principal investment during the period remained its holding in Eastport Critical Metals Corp. The board continued to follow Eastport's progress and the wider commodity and international developments bearing on its value, and to assess the appropriate timing and approach for the company's holding. Evrima's strategy is unchanged. The company will consider additional investments in the natural resources sector where the board is satisfied that the opportunity offers a credible prospect of a return for shareholders, and it continues to evaluate such opportunities as they arise. Evrima remains committed to pursuing opportunities that support shareholder value."
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Vault Ventures PLC - London-based technology development company focused on blockchain, AI, and augmented reality - First half turnover rises to £93,000 from non a year ago. Pretax loss widens to £924,000 from £237,000. "The progress made during the first half of 2026 represents an important next stage in Vault’s development. Our priorities for the remainder of the year are to advance the development of our post-quantum secure communications platform, progress commercial opportunities across our technology portfolio and maintain disciplined capital allocation. We believe the increasing focus on quantum resilience across governments, financial institutions and regulated industries provides a significant long-term opportunity for the company," Vault says.
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VVV Sports Ltd - British Virgin Islands-based sports, media and entertainment company - First half revenue rises to £14,000 from none a year ago, as it was not then trading. Calls the period one of "significant development". Pretax loss widens to £859,000 from £164,000. Looking ahead, says it enters the second half "with considerable momentum and a substantially broader platform than at the beginning of the year." Adds: "The global growth of padel and pickleball continues to create opportunities across participation, professional sport, infrastructure, events, media and commercial partnerships. Our objective is to establish VVV Sports as a leading independent operator in these markets rather than simply participate in them as a passive investor." Says the US "represents a particularly important market for the group." Calls the Middle East "similarly important, both as a market in its own right and as a potential international hub for the group." "We will continue to pursue a disciplined acquisition and partnership strategy, seeking opportunities that add operating capability, intellectual property, distribution, audiences or commercial rights to the group," it concludes.
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