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Pin to quick picksGenel Energy Share News (GENL)

Share Price Information for Genel Energy (GENL)

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Share Price: 94.00
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Open: 95.00
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EARNINGS SUMMARY: Genel narrows loss; NAHL led by Personal Injury arm

Wed, 22nd Mar 2023 14:53

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

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Alpha Group International PLC - London-based provider of financial solutions to companies - Pretax profit in 2022 grows 42% to GBP47.2 million from GBP33.2 million in 2021, citing a "successful track record on investment". Revenue climbs 27% to GBP98.3 million from GBP77.5 million. Operating expenses increase 38% to GBP60.7 million from GBP44.1 million. Declares a final dividend of 11.0 pence per share, up 38% from 8.0p a year ago. Brings total dividend to 14.4p, 31% higher than 11.0p a year prior. Notes that its operations have been unaffected by uncertainty within the banking sector. Says trading since start of 2023 has been positive and in line with its own expectations. Adds that it is confidence in delivering "strong" revenue and profit growth.

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Atalaya Mining PLC - Cyprus-based copper producer - Pretax profit falls to EUR32.3 million in 2022 from EUR159.8 million in 2021, blaming an increase in electricity costs. Revenue declines 11% to EUR361.8 million from EUR405.7 million. Operating costs balloon 48% to EUR306.5 million from EUR206.6 million. Copper concentrate output falls to 249,543 tonnes from 270,713 tonnes a year prior. All-in sustaining cost per pound of copper increases 36% to USD3.37 from USD2.48. Trims final dividend by 2.5% to USD0.0385 per share from an inaugural payout of USD0.0395 a year ago, bringing the total dividend to USD0.0745 for 2022. Looking ahead, anticipates improved performance in 2023 amid expected lower electricity prices. Estimates a 2023 copper production of 53,000 to 55,000 tonnes at all-in sustaining cost of USD3.00 to USD3.20 per pound of copper, compared to 53,323 tonnes at all-in sustaining cost of USD3.37 in 2022.

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Genel Energy PLC - Oil company with exploration and production operations in northern Iraq - Pretax loss in 2022 narrows significantly to USD7.1 million from USD307.8 million in 2021, boosted by higher oil prices as revenue climbs 29% to USD432.7 million from USD334.9 million. Average Brent oil price increases 42% to USD101 per barrel from USD71. Declares final dividend of 12 US cents per share, bringing the total to 18 US cents, both unchanged from a year prior. Looking into 2023, Genel continues to see a long-term oil price that is supportive to its business, while "remaining resilient to volatility" faced by the sector.

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Kakuzi PLC - Nairobi-based agricultural company - Pretax profit in 2022

climbs to KES1.22 billion, about GBP7.6 million, from KES471.6 million a year prior. Sales grow 35% to KES4.43 billion from KES3.30 billion. Proposes dividend of KES24.00 per share, about 15 pence, up from KES22.00 a year ago.

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NAHL Group PLC - Northamptonshire, England-based insurance claims management - Pretax profit in 2022 climbs to GBP569,000 from GBP235,000 a year ago, boosted by Personal Injury business. Revenue grows to GBP41.4 million from GBP38.9 million. Personal Injury business revenue rises 14% to GBP24.0 million from GBP21.0 million. Declares no dividend, unchanged. Says started 2023 with momentum and cautiously optimistic that it is well placed to continue growth and "strong" cash generation. However, notes higher borrowing costs due to increased UK interest rates. Looking ahead, company aims to increase advertising spend on Personal Injury business in 2023, while anticipating strong growth in expert witness services in its Critical Care Unit.

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Tap Global Group PLC - offers regulated crypto app that helps bridge gap between traditional finance and blockchain technology by providing fiat banking and crypto settlement services - Pretax loss in the six months to December 31 narrows to GBP298,992 from GBP321,792 a year prior. Turnover remains insubstantial at GBP40,000, down from GBP50,000. Administrative expenses decrease to GBP338,992 from GBP371,792. Tap Global says it is focused on organic growth of its user base and geographical expansion beyond Europe.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Genel Energy non-executives buy GBP2.6 million in shares

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16 Oct 2023 12:14

IN BRIEF: Genel Energy oil output at Tawke "ramped up" post closure

Genel Energy - London-based oil producer with assets in Somaliland, Morocco and Iraq's Kurdistan region - Says gross production from Tawke licence in the Kurdistan region of Iraq in the third quarter of 2023 was 25,984 barrels of oil per day, compared to no production in the second quarter of 2023, and down from 108,500 bopd a year prior. Production was shut after the closure of the Iraq-Turkey pipeline in March. The Tawke field was reopened in July and production has since "ramped up," Genel Energy says. The contractor share of crude oil from the field during the quarter was sold to local buyers with payments received directly in advance. "No crude oil was delivered to the Kurdistan regional government for export by pipeline through Turkey," Genel Energy says.

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Genel Energy reports ramp up of production from Tawke field

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IN BRIEF: Genel Energy accepts offers for USD16.2 million of bonds

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IN BRIEF: Genel Energy announces bond buyback offer to bondholders

Genel Energy PLC - London-based oil producer with assets in Somaliland, Morocco and Iraq's Kurdistan region - To holders of Genel Energy 4 PLC's USD300 million senior unsecured callable bonds with ISIN NO0010894330, offers reverse tender offer. Targets around USD20 million in nominal value of bonds for cash management purposes. Buyback offer starts Monday and lasts until next week Wednesday. Company will determinate the maximum accepted price next week Thursday, with cash settlement expected the day after.

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