No dividend for Hot Rocks investors after turbulent half-year

Hot Rocks Investments reported on a “turbulent” first half in its unaudited interim financial figures on Wednesday, with revenue remaining nil for the six months ended 30 September.

The firm made zero share-based payments during the period, down from £0.12m a year ago, while its operating expenses rose to £0.05m from £0.02m.

Other gains totalled £0.05m, rising from £0.02m, while its fair value gains on financial assets reached £0.09m, down from £0.11m year-on-year.

Hot Rocks managed to swing to a profit from operations of £0.08m for the period, from a loss of £0.01m a year ago.

Basic and diluted earnings per share were 0.05p.

“The company is an active investor largely in junior natural resources companies and we have experienced a turbulent first half in this sector,” said non-executive chairman Brian Rowbotham.

“Nonetheless our portfolio has performed satisfactorily and we are excited about new additions to our portfolio such as Predator Oil & Gas.”

Cash at bank as at 30 September was £47,679, up from £7,446, the company said.