EARNINGS: Skillcast revenue rises; World Chess loss widens
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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Secure Property Development & Investment PLC - Southeast Europe-focused commercial property investor - Reports a loss of EUR204,903 in the first half of 2026, narrowing from EUR336,469 a year earlier. The company generates no net operating income following the disposal of its property portfolio, compared with EUR426,110 a year earlier, while administration expenses fall 56% to EUR205,349 from EUR465,521. SPDI says it continues to distribute its Arcona Property Fund shares to shareholders and is reviewing its future strategy after becoming an asset-free entity. Discussions over a potential transaction with Canadian energy storage company AdvEn stalled during the third quarter, but SPDI says it intends to monetise its corporate shell, with or without AdvEn, during 2026.
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Thalia Therapeutics PLC - biotechnology company developing innovative RNA therapeutics - Pretax loss widens to £757,192 in the first half of 2026 from £470,216 a year earlier, as general and administration costs rise to £732,668 from £406,590. Revenue is broadly unchanged at £3,642 from £3,690, while cash stands at £1.5 million as of June 30. The company says it has completed the acquisition of Sanmirna Therapeutics after the period end, adding miRisten, a phase 1 treatment for acute myeloid leukaemia, to its pipeline. Top-line phase 1 data are targeted for the first half of 2027. Thalia also completes an oversubscribed £2.75 million fundraise in July, which it says funds its planned work programme through mid-2027.
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Sealand Capital Galaxy PLC - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Swings to a pretax profit of £641,636 in the first half of 2026 from a loss of £361,920 a year earlier, as revenue jumps to £772,890 from £99,529. The profit includes a non-cash gain of £535,387 from the remeasurement of a convertible loan note derivative. Gross profit rises to £465,797 from £46,762. The company says net assets stand at £8.6 million at June 30, compared with net liabilities of £2.1 million at the end of 2025. Sealand continues its push into artificial intelligence and digital infrastructure, including proposed acquisitions of Brilliant Glow Group and a 60% stake in Finely Technology Holdings, although it says completion of the latter is delayed by a change-of-control registration process.
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Coro Energy PLC - South East Asian energy company with a natural gas and clean energy portfolio - Swings to a pretax loss of USD696,000 in the first half of 2026 from a USD23.7 million profit a year earlier, when results benefited from a USD25.6 million gain on the redemption of its Eurobond. Revenue rises to USD384,000 from USD310,000, while gross profit increases to USD285,000 from USD233,000. General and administrative expenses fall to USD963,000 from USD1.4 million. The firm says it completes its restructuring into a pure-play renewables business, including the sale of its 15% interest in the Duyung production sharing contract. Coro holds USD582,000 in cash at June 30 and continues work towards a proposed senior secured debt facility of up to USD20 million to support expansion in Vietnam. Coro says there is a material uncertainty over its ability to continue as a going concern, as it does not currently have sufficient cash to meet all of its PLC-level obligations for the next 12 months. It says it remains confident the proposed debt facility will shortly conclude and continues to target an operational portfolio of more than 50 megawatts by the end of 2028.
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Skillcast Group PLC - London-based digital compliance content and technology provider - Revenue rises 10% to £8.2 million in the first half of 2026 from £7.5 million a year earlier, driven by a 15% increase in subscription revenue. Ebitda rises 48% to £1.0 million from £700,000, while basic earnings per share increases to 1.052 pence from 0.636p. The group says annual recurring revenue grows 14% to £14.5 million from £12.8 million, while recurring revenue increases to 90% of total revenue from 85%. Cash rises 19% to £13.6 million from £11.5 million. Skillcast increases its interim dividend by 15% to 0.232p per share from 0.202p. Skillcast expects annual recurring revenue to grow at a similar level in the second half, although year-on-year growth at the full year is expected to be slightly below the 14% reported at June 30. It expects full-year revenue and profit to be in line with market expectations.
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Switch Metals PLC - special purpose acquisition company focused on energy transition sector - Pretax loss narrows to £696,256 in the first half of 2026 from £1.0 million a year earlier, as administrative expenses fall to £666,610 from £896,679. Basic and diluted loss per share narrows to 0.57 pence from 1.24p. The company holds £901,230 in cash as of June 30 and has no debt, after raising £1.25 million in May. The firm says it advances exploration at its Issia project in Côte d'Ivoire, where it has discovered lithium-rich spodumene zones at Kabore with grades of up to 2.8% lithium oxide. Switch expects its maiden tantalum mineral resource estimate in early 2027 and says results from drilling at its Zraty tantalum and Kabore lithium targets are expected in the near term.
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World Chess PLC - London-based chess promoter and tournament organiser - Says revenue from continuing operations rises 5.9% to EUR855,754 in the six months to June 30 from EUR808,160 a year earlier. The company says pretax loss widens to EUR1.6 million from EUR1.1 million, as administrative expenses increase amid higher marketing and product development spending. Platform revenue rises 32% to EUR539,000, while gross profit jumps 88% to EUR286,878. World Chess raises EUR1.4 million during the period and says its second-half priorities include increasing paid conversion on WorldChess.com, finalising its expanded partnership with FIDE and progressing its .chess domain application.
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African Pioneer PLC - natural resource explorer and developer focused on sub-Saharan Africa - Pretax loss narrows to £224,263 in the six months to June 30 from £332,639 a year earlier, as operating expenses fall by the same amount. The firm says it strengthens its financial position through a £2.21 million share issue, including £1.80 million in gross cash proceeds. African Pioneer says it makes "considerable progress" on its Namibian copper portfolio, signing a financing and technical services agreement with Hong Kong Xinhai Mining Services for the Ongombo and Ongeama projects. It plans 7,000 metres of drilling across the two projects, with provision for a further 3,000 metres at Ongeama depending on initial results.
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