EARNINGS: US Solar Fund eyes "modest" fourth-quarter dividend
The following is a round-up of earnings reports by London-listed companies, issued on Monday and not separately reported by Alliance News:
----------
Christie Group PLC - London-based provider of professional services, including stock and inventory systems for the hospitality, leisure, healthcare, medical, childcare, education and retail sectors - Reports results for the first half of 2026. Revenue increases 5.4% to £36.0 million from £34.1 million the year before, "with growth across all five trading brands, both in the UK and International operations". Operating profit, excluding a non-recurring pension scheme curtailment cost, increases to £2.4 million from £2.1 million. Pretax profit decreases to £1.5 million from £1.7 million when including the curtailment cost; excluding it, profit increases 12% to £1.9 million from £1.7 million. Cash balance shows "significant improvement," increasing to £8.7 million as of June 30 from £5.0 million one year prior. Christie declares 1.25 pence interim dividend, citing its "strong momentum in the period and its continued confidence in the long-term outlook". Dividend is up 67% from 0.75p the year before. Christie also still expects a full-year performance in line with current market expectations, citing forecasts for revenue of £75.0 million and adjusted pretax profit of £4.6 million.
----------
United Oil & Gas PLC - mining company with an exploration asset in Jamaica - Announces results for the six months ended June 30. Generates no revenue, unchanged from the year before. Pretax loss widens to USD810,864 from USD461,180. 'Other administrative expenses' increase to USD809,848 from USD568,642. Chief Executive Officer Brian Larkin notes that the "severe disruption to the Strait of Hormuz...continues to affect a substantial proportion of global seaborne oil and LNG supply," adding: "Against this backdrop, United has continued to build both the technical foundation and the operational capability required to advance the Walton-Morant Licence toward a successful farm-out." Looking ahead, he continues: "We enter the second half of the year with real momentum...Our immediate priority remains the Jamaica farm-out. We continue to engage with several parties and are focused on concluding a transaction capable of advancing the Walton-Morant Licence towards its next stage of development."
----------
US Solar Fund PLC - investor in utility-scale solar power plants across North America - Reports results for the first half of 2026. Net asset value per share is 60 US cents as of June 30, virtually flat compared with December 31. Total NAV decreases 0.2% to USD185.9 million from USD186.2 million. Total generation by its portfolio in the period is 357 gigawatt-hours, 0.5% lower than forecast in the firm's 2025 annual report and 8.2% below its previous long-term forecasts. Says its NAV "benefitted from upward movements to energy price forecasts," but this was offset by the "increase in discount rate and changes to long-term inflation assumptions". Looking ahead, it "will look to declare a modest Q4 dividend," citing "the improvement in performance and reduced levels of market uncertainty". Chair Gill Nott says that "operational performance of the company's assets stabilised as implemented asset remediation plans start to demonstrate tangible results" during the period, with further improvements expected "by year end". Adds: "The outlook for US renewable energy remains positive, supported by strong electricity demand growth forecasts and recent macro events highlighting the favourable attributes of solar...During the remainder of 2026, the board will continue to prioritise financial discipline and will continue to work closely with the investment manager to progress and complete operational improvement initiatives in tandem with progressing the potential sale of the company's assets."
----------
Gem Resources PLC - emerald miner in South Africa, Zambia and Australia - Announces results for the six months ended June 30. Pretax loss for the period is £614,000, widened from £304,000 the year before. Cites a £70,000 revaluation loss on its digital asset holding, as well as increased finance costs due to issuing convertible loan notes in September 2025. Cash balance is £669,000 as of June 30, down from £1.6 million six months prior. Executive Chair Louis Ching, who assumed the role in September 2025, says Gem "is in a materially different position from that which I inherited." Says "El Yarumo has the potential to become an important platform from which we can build a larger gold processing and production business in Colombia," although Gem "will continue to actively manage our existing portfolio...We believe this disciplined portfolio approach will allow [the firm] to broaden its natural resources exposure while progressively increasing the proportion of the group represented by operating, revenue-generating and potentially cash-generative assets."
----------
abrdn European Logistics Income PLC - London-listed property investor - Reports results for the first half of 2026. NAV per share is 26.1 euro cents as of June 30, down from 33.5 cents at December 31. NAV total return is minus 1.6% for the period, compared with minus 11.2% the year before. Company declares a fourth interim dividend of 2.32 cents, down from 4.03 cents. Chair Tony Roper notes that the firm completed four further asset disposals for approximately EUR113 million during the period, leaving only one of its original 27 assets to sell and marking "a further significant step in the delivery of the shareholder-approved managed wind-down". Says the 26 assets sold have generated gross proceeds of over EUR530 million before the repayment of associated debt. Looking ahead, he says that the "outlook for European real estate transactions has become more challenging in recent months," and that the remaining asset's sales process continues, "with a potential purchaser currently undertaking due diligence."
----------
Touchstar PLC - Glasgow-based mobile data computing solutions and managed services supplier - Reports results for the first half of 2026. Revenue increases 1.3% year-on-year to £3.41 million from £3.37 million. Recurring revenue rises 4.6% to £1.6 million from £1.5 million. Pretax loss narrows to £125,000 from £142,000. Proposes interim dividend of 1.50p per share, down from 1.75p the year before. Adjusted earnings before interest, tax, depreciation and amortisation fall to £29,000 from £235,000, the prior year's figure adjusted for £21,000 in exceptional costs. Touchstar says recurring revenue represented 47% of its revenue, "continuing the shift towards more predictable income." Notes that it completed its review of the logistics software portfolio earlier in the second half, and is now focused on "future development around a more unified Touchstar platform strategy." "H1 2026 has been a period of disciplined execution....management has taken the decisions necessary to strengthen capability, focus investment and create a stronger foundation for sustainable growth," says Chair Ian Martin. "The board remains focused on converting this improved capability into stronger financial performance and supporting the group's return to profitability during FY2027."
----------
Theracryf PLC - Cheshire, England-based pharmaceutical firm focused on cancer and brain disorders - Reports results for the year ended March 31. Highlights the start and "successful execution on schedule" of its lead orexin-1 receptor antagonist programme through late-stage preclinical development. Says programme remains on track for completion in the fourth quarter of 2026. "With final GLP toxicology studies underway and GMP manufacture complete for bulk material, we are approaching more value inflection points ahead of first-in-human trials...We remain focused on completing the remaining clinic-enabling activities, progressing towards regulatory approval to commence clinical trials and continuing engagement with potential commercial partners to maximise shareholder value," says Chief Executive Officer Huw Jones. Company remains non-revenue-generating, unchanged year-on-year. Pretax loss widens to £3.6 million from £2.1 million the previous year. Operating expenses increase to £3.5 million from £2.0 million. Cash outflow from operations increases to £2.7 million from £2.4 million.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.