30th Jun 2023 21:28
Harland & Wolff Group Holdings PLC - infrastructure projects operator - Reports 2022 results, comparing the full year to the 17 months to December 31, 2021. Pretax loss is GBP70.4 million compared to GBP25.5 million. Revenue grows 51% to GBP28.0 million from GBP18.5 million. Cost of sales increase 67% to GBP22.2 million from GBP13.3 million. Management & administrative expenses more than double to GBP53.4 million from GBP24.7 million. Looking ahead, Chief Financial Officer Arun Raman says: "We are now at an advanced stage in our negotiations with UK Export Finance and our lending consortium and expect the refinancing to be completed in early autumn 2023. This is a five-year deal and it is important that we get the economics right. Our current cashflows allow us to take the time and get the best possible deal for the company and its shareholders. We will be making announcements on this deal as it matures and comes to fruition."
Current stock price: 12.56 pence, down 5.3% on Friday
12-month change: down 1.5%
By Tom Budszus, Alliance News reporter
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