EARNINGS: Poolbeg Pharma loss narrows; Zanaga Iron Ore loss widens
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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Talon Resources PLC - North American gold exploration company previously known as Medcaw Investments PLC - Pretax loss widens to £729,808 in the six months ended June 30 from £92,345 the year prior, on nil revenue unchanged on-year. Administrative expenses jump to £686,408 from £92,427 while the prior year includes a £15,627 impairment. Basic & diluted loss per share total 1.69 pence versus 0.42p. "Looking ahead, and with the outlook for gold expected to remain supportive, we expect a busy remainder of the year as the maiden drilling programme progresses and assay results are incorporated into our geological model and planning for the next phase of exploration at Eagle Lake. In parallel, we will continue to assess opportunities in the Wabigoon Subprovince alongside MINML, while evaluating opportunities elsewhere in North America that fit our wider strategy," company says.
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Airea PLC - West Yorkshire, England-based flooring company - Swings to pretax profit of £204,000 in the six months ended June 30 from £44,000 loss the year prior, on revenue up to £10.8 million compared to £9.8 million. EPS amounts to 0.57p versus a loss of 0.54p. Non-Executive Chair Martin Toogood says: "The group has experienced positive trading in the third quarter and the order book remains healthy. The business continues to focus on innovation with further new product launches expected over the remainder of the second half." In addition, Toogood reports that the major transformational investment in the group's manufacturing facility is now fully operational and production is expected to scale up in the coming months. Plans to maintain a focus on cash preservation and therefore is not proposing an interim dividend, unchanged on-year. Expects the current trading to continue through the remainder of the year and remains confident in its long-term prospects.
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Logistics Development Group PLC - investment company focused on logistics assets - Reports pretax profit of £5.4 million in the six months ended June 30 down from £15.3 million the year prior, with net finance income of £6.0 million compared to £16.3 million. Basic EPS are 1.18-, down from 3.17p. No dividend is declared.
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Poolbeg Pharma PLC - London-based biopharmaceutical firm focused on cancer immunotherapy - Pretax loss narrows to £2.0 million in the six months ended June 30 from £2.2 million the year prior, on nil revenue, unchanged on-year. Administrative expenses fall to £1.3 million from £2.0 million. Loss per share is 0.28p versus 0.43p a year ago. CEO Jeremy Skillington says: "The first half of 2026 saw POLB 001 progress from TOPICAL trial preparation into execution, and we have built on that momentum since the period end. Eight patients have now been dosed in the TOPICAL trial and, following a positive review of data from the interim safety cohort, the study will continue as planned." Says POLB 001 has the potential to be the first approved preventative therapy for cancer immunotherapy-induced CRS. Ends period with a cash balance of £4.8 million down from £10.0 million a year ago.
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Jersey Oil & Gas PLC - upstream oil and gas company focused on the UK continental shelf - Pretax loss widens to £826,904 in the six months ended June 30 from £697,258 the year prior. Administrative expenses creep higher while finance income is lower. Basic LPS is 2.53p versus 2.13p on-year. Says it maintains a "solid" financial position, with total cash reserves of £10.1 million and no debt. Feels the business is "right-sized" for its current activities and focused on achieving its growth potential. CEO Andrew Benitz says the "cumulative actions of successive UK governments, along with protracted delays in development project approvals, have undoubtedly damaged the UK's oil and gas industry and actions are clearly required to deliver a sustained improvement in investor confidence." He says new investments into long term projects like the Greater Buchan Area redevelopment "require confidence in a supportive regulatory and fiscal system that prioritises domestic energy." Jersey continues to expect its annual cash running costs to be under the forecast £1.5 million, absent any changes in the underlying activities of the business.
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Guaranty Trust Holding Company PLC - Lagos, Nigeria-based banking franchise - Pretax profit is NGN603.0 billion, around £330 million, up 0.4% from NGN600.9 billion the year prior. Interest income grows 7.5% to NGN873.4 billion from NGN812.4 billion. EPS totals 11.2 naira versus 13.6 naira on-year. Total assets rise 4.8%, loans increase 0.5% and deposit liabilities grow 11%. "Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at group level," says CEO Segun Agbaje.
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Zanaga Iron Ore Company Ltd - iron ore exploration and development company which owns the Zanaga asset in the Republic of Congo - Pretax loss widens to USD4.2 million in the six months ended June 30 from USD3.5 million the year prior. This reflects general and administrative expenses of similar amounts. Cash balance is USD5.4 million as of June 30 and USD3.7 million as of September 17. "I am pleased to report strong progress on the Zanaga iron ore project during the first half of 2026. Successful project development strategies identified approximately USD2.2 billion of potential life-of-mine cash cost savings which supported the April 2026 economic update, which substantially increased the project's [net present value]," says Chair Clifford Elphick. "We remain focused on advancing Zanaga towards Final Investment Decision and maximising value for shareholders," he adds.
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