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OPG Power Ventures PLC - company engaged in maintenance of private sector power projects in India - Reports revenue of GBP93.8 million for the year ended March 31, down 39% from GBP154.0 million in the previous financial year. Pretax profit rises 49% year-on-year to GBP21.6 million from GBP14.5 million in financial 2020. Notes a surge in thermal coal and freight costs during the first six months of financial 2022. Adds that its medium and long-term fundamentals remain unchanged. Decides against declaring a dividend for financial 2021 but plans to revisit its payout policy when the impact of Covid-19 subsides and coal prices stabilize.
Current stock price: 12.83 pence, up 9.2% on Thursday
Year-to-date change: up 19%
By Scarlett Butler; scarlettbutler@alliancenews.com
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