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EARNINGS: Catalyst Media profit plunges; Jersey Electricity rises

20th Dec 2023 20:55

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Catalyst Media Group PLC - Milton Keynes-based company that provides content and production services to the betting industry - In the financial year that ended June 30, pretax profit falls to GBP2.6 million from GBP24.4 million. This is almost entirely due to reversal of impairment of equity-accounted associate falling to GBP1.9 million from GBP23.4 million. Revenue steady at GBP25,000.

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Mineral & Financial Investments Ltd - investment company focused on natural resources sector - Net asset value per share on June 30 rises to 24.27 pence from 20.04p a year earlier. In the year ended June 30, pretax profit rises to GBP1.6 million from GBP899,000 a year earlier, tracking net gains on disposal of investments more than doubling to GBP2.1 million from GBP861,000. Says: "We continue to maintain the view that commodity prices will have to rise, or capacity will have to close, which will lead to metal price rises. Although not the most robust setting for mining companies, there is, we believe, good cause for bullishness that more broadly based metal price rises will define 2024 and that the inflationary pressures of 2022 will moderate, but nevertheless remain stubbornly higher than desirable."

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Jersey Electricity PLC - Jersey-based electricity importer, generator and distributor - In the financial year that ended September 30, pretax profit rises to GBP14.9 million from GBP10.6 million a year earlier. Revenue rises to GBP125.1 million from GBP117.4 million. Declares final dividend of 11.40 pence, up from 10.80p. Takes total full-year dividend to 19.4p, up from 18.4p. Says: "Whilst wholesale prices have recently come down, they remain well above our long-term hedged position and therefore we expect further upward pressure on retail prices over the next few years."

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By Greg Rosenvinge, Alliance News senior reporter

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