Jersey Electricity plc Declares Interim Dividend for Six Months Ended March 31, 2018, Payable on June 29, 2018; Reports Unaudited Consolidated Earnings Results for Six Months Ended March 31, 2018
May 21, 2018 at 02:00 am EDT
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The Board of Jersey Electricity plc at its meeting held on 18 May 2018 declared an interim dividend of 6.1 pence for the six months ended March 31, 2018 compared to 5.8 pence for 2017. The dividend will be paid on 29 June 2018 to those shareholders registered in the records of the Company at the close of business on 1 June 2018.
The company reported unaudited consolidated earnings results for six months ended March 31, 2018. For the period, the company's revenue was £60,463,000 against £58,004,000 a year ago. Group operating profit was £10,404,000 against £9,516,000 a year ago. Profit from operations before tax was £9,704,000 against £8,929,000 a year ago. Profit attributable to Owners of the Company was £7,640,000 against £7,009,000 a year ago. Profit for the period/year attributable to the equity holders of the parent Company was £7,681,000 against £7,004,000 a year ago. Earnings per share - basic and diluted were 24.9 pence against 22.9 pence a year ago. Net cash flows generated from operating activities was £11,597,000 against £9,703,000 a year ago. Purchase of property, plant and equipment was £6,914,000 against £8,508,000 a year ago. Net debt as on March 31, 2018 was £20.2 million against £29.4 million as on March 31, 2017. Investment in intangible assets was £137,000 against £63,000 a year ago.
Jersey Electricity plc is a Jersey-based supplier of electricity in Jersey, serving over 53,000 business and residential customers. The Company's operations include the importation, transmission, distribution, generation and supply of electricity, as well as a range of energy-related services and solutions. The Companyâs businesses include Energy Division, Energy Solutions, Jersey Electricity Building Services (JEBS), Jersey Energy, Jendev, Jersey Deep Freeze, The Powerhouse and Smarter Living, and Property. Its segments include Energy, Building Services, Retail, Property and Other. It is also involved in the generation and distribution of electricity and jointly invests in assets with Guernsey Electricity Limited importing power for both islands. Its Energy Division is responsible for the supply, transmission and distribution of electricity in Jersey. Its property portfolio consists of commercial business units and private dwellings that it rent on the open market.
Jersey Electricity plc Declares Interim Dividend for Six Months Ended March 31, 2018, Payable on June 29, 2018; Reports Unaudited Consolidated Earnings Results for Six Months Ended March 31, 2018