Three things you need to know as the UK financial markets open, from Tony Cross.
#1. CPH2 interims show imminent funding need
Clean Power Hydrogen LON:CPH2 saw its shares take a bounce yesterday off the back of factory acceptance testing so today’s release of interim results will offer investors something else to scrutinise. The timing of this is critical as the over the first six months of the year, the company accrued losses of £2.3m and had a cash balance of £4m at the period end. The note adds that further funding will likely be required at some point during 2025.
#2. MicroSalt maiden interims highlight slowing sales
MicroSalt [LON:SALT] has this morning published its interim results noting lower revenues and higher losses although management seem comfortable that the cash reserves resulting from the IPO and warrant conversion are sufficient. It is noted that the company’s roll out across new product lines has been slower than anticipated, although management are cheered by positive customer engagement.
#3. Chariot losses persisting at interim results
African focused transitional energy company Chariot Oil & Gas LON:CHAR has published interim results this morning. Losses are persisting but management note a recent funding round was oversubscribed and that next steps revolve around raising new capital at a subsidiary level. Clearly there’s still dilution here but the approach at least allows a more finessed way of raising fresh capital.
