Friday, November 24, 2023
Sutton Harbour posts increase in first half profits and revenue
Transport, property and regeneration company Sutton Harbour Holdings PLC posted increased profits and revenue in the first half and said it remains "very confident" for the company's future.
The company's first-half pretax profits rose to 2.0 mln stg from 1.96 mln in the year-ago period, with turnover growing to 16.628 mln stg from 14.007 mln a year ago.
Sutton also increased its interim dividend by 7 pct to 1.5 pence.
"Provided the airline industry remains free from external difficulties, the outlook for the rest of the year continues to be good particularly for our regeneration activities," chairman Ellen Winser said.
Profit from Sutton's transport sector fell by a huge margin, while profit from regenation sector picked up, in line with its July expectation of a "more modest performance" from the transport sector but a "stronger performance" from the regeneration sector.
Transport sector profits fell to 601,000 stg compared with 1.657 mln stg in the year-ago period, with Air Southwest results being hit by high fuel prices in the period and the after-effects of the security alert on Aug 10. Revenue from the sector rose slightly to 11.769 mln stg from 10.828 mln.
Sutton's regeneration sector saw a rise in profit to 1.747 mln stg from 404,000 stg in the year-ago period. Revenue in the sector rose to 2.023 mln stg from 495,000 a year ago. Sutton Harbour Hldgs-Interim Results RNS Number:5636M Sutton Harbour Holdings PLC 23 November 2023
The company's first-half pretax profits rose to 2.0 mln stg from 1.96 mln in the year-ago period, with turnover growing to 16.628 mln stg from 14.007 mln a year ago.
Sutton also increased its interim dividend by 7 pct to 1.5 pence.
"Provided the airline industry remains free from external difficulties, the outlook for the rest of the year continues to be good particularly for our regeneration activities," chairman Ellen Winser said.
Profit from Sutton's transport sector fell by a huge margin, while profit from regenation sector picked up, in line with its July expectation of a "more modest performance" from the transport sector but a "stronger performance" from the regeneration sector.
Transport sector profits fell to 601,000 stg compared with 1.657 mln stg in the year-ago period, with Air Southwest results being hit by high fuel prices in the period and the after-effects of the security alert on Aug 10. Revenue from the sector rose slightly to 11.769 mln stg from 10.828 mln.
Sutton's regeneration sector saw a rise in profit to 1.747 mln stg from 404,000 stg in the year-ago period. Revenue in the sector rose to 2.023 mln stg from 495,000 a year ago. Sutton Harbour Hldgs-Interim Results RNS Number:5636M Sutton Harbour Holdings PLC 23 November 2023
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