FINANCES AND TRADING: Kenmare supports annual guidance although output declines

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(Alliance News) – The following is a collection of earnings and trading updates for London-listed companies, issued from April 20 to April 24 and not reported separately by Alliance News:

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Cadogan Energy Solutions PLC – An energy company focused on Ukraine and Italy – Posts a decline in annual revenue, down 36% to USD5.8 million in 2025 from USD9.2m in 2024, indicating a year of “consolidation” for the company. Even better, loss before tax narrowed to USD1.1 million from USD5.5 million. It estimates an average realized price of USD46.75 per barrel of oil equivalent, down 34% from USD71.13 a year, while oil production fell 9.2% to 117,408 barrels from 129,272. It insists that it is no longer focused on oil and gas, but is following a “multi-energy” path and has started to work on electricity. It proposes no profit for 2025, unchanged from last year, but growth in 2026 is “from diversified cash flows that are sustainable…

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Castelnau Group Ltd – Guernsey closed-end investment company – Net assets per share rose to 112.1 pence at the end of December from 98.3pa last year, while pre-tax profit fell to GBP45.9 million in 2025 from GBP81.9 million in 2024. NAV is 0% net versus 0% annual return. Castelnau’s benchmark, the FTSE All-Share Total Return index. Looking ahead to 2026, Castelnau says he will focus on the growth of Investee Dignity PLC, a funeral business that made up about 85% of Castelnau’s portfolio as of December 31, held jointly by Valderrama Ltd, and generated a 22.4% return on investment in 2025. intelligence for profit. Reporting NAV growth in the first quarter of the new year, NAV reached 111p per share at the end of March from 101p in the year.

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Kenmare Resources PLC – Dublin-based producer of titanium minerals and zircon in Mozambique – Says the company is on track to reach its 2026 goals, although production of heavy minerals fell by 30% year-on-year to 217,200 tons in the first quarter, “mainly due to the continued decrease in the production of the wet plant 8. 125,900 tons, while the total export decreased by 10% to of 277,900 tonnes, which Kenmare says is in line with an annual guidance rate of more than 1.1 million tonnes. of 2026 in all metrics and reduced the number of its products by 900 to 99″. come closer. Production is forecast to strengthen from Q2 onwards, as WCP A increasingly operates at its nameplate capacity consistently. However, ongoing geopolitical volatility and the company’s spending priorities limit operational flexibility and may affect Kenmare’s ability to respond quickly to changing circumstances.”

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Malibu Life Holdings Ltd – Cayman Islands-based life and annuity reinsurance investor through Third Point Offshore Fund Ltd – Pretax net income decreased to USD25.0 million in 2025 from USD114.3 million in 2024. USD31.91 on Dec 31, up from USD25.43 on Jan 1. Books realized and unrealized profit from the investment shared in the Third Point Offshore Fund of USD48.8 million, down from USD116.1 million in the year. It changes to a net loss of investment from the Third Point Offshore Fund of USD11.0 million from a profit of USD2.2 million. However, it notes that it stopped being an investment company after the acquisition of Malibu Life, and became an insurer. It posted USD57.8 million in income from reinsurance activities, compared to last year. Diluted EPS jumped to USD1.23 from none reported in the prior year.

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REA Holdings PLC – Indonesia-based palm oil company – Revenue rises to USD194.9m in 2025 from USD187.9 million in 2024, while pre-tax profit falls to USD24.0 million from USD38.9 million. It shifts to a reduced loss per share of USD0.7 from earnings per share of USD41.6 YOY. Looking ahead, we expect an increase in crops and output levels, as well as “an encouraging view of increased returns from agricultural activities, boosted by contributions from gravel and silica sand”. The stone part of the business has started production, and has secured contracts for 1 million tons between 2026 and 2027. The REA notes that current palm oil prices are above levels seen in 2025, supported by the cost effects of the conflict between the US, Israel and Iran.

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Acuity RM Group PLC – A risk management company based in London – Estimated revenue of GBP441,000 for the quarter to the end of March. It says administrative costs have fallen by 37% year-on-year and contract values won since March 31 totaled GBP619,000, including deals with the British government and a North American bank. He adds: “Acuity Risk Management Ltd, the group’s commercial subsidiary has traded profitably every month since 1 October 2025 and management remains confident that this performance will be sustained through 2026.”

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By Holly Munks, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Business News Finance and Instruments Funds Oil and Gas Mines Construction & Materials Selling Insurance Cadogan The Castelnau group Kenmare Resources Malibu Life Reahldgs. Rating of the company Acuity RM Group plc