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Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

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Share Price: 2,937.00
Bid: 2,936.00
Ask: 2,936.50
Change: -9.00 (-0.31%)
Spread: 0.50 (0.017%)
Open: 2,940.00
High: 2,956.00
Low: 2,934.50
Prev. Close: 2,946.00
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Yu annual raises dividend as earnings soar on strong sales bookings

Tue, 19th Mar 2024 11:57

(Alliance News) - Yu Group PLC on Tuesday said bookings drove its annual profit and revenue in 2023, and looks to 2024 with confidence as its order book continues to grow.

Yu is a Nottingham-based supplier of gas and electricity, meter asset owner and installer of smart meters to the UK corporate sector.

Yu said Pretax profit multiplied in 2023 to GBP39.7 million from GBP5.8 million the year before. This was driven by a 65% jump in revenue to GBP460.0 million from GBP278.6 million in 2022, the firm reported, which was attributed to strong sales bookings.

Yu recommended a final dividend of 37 pence per share, multiplied from a total dividend of 3p the year prior, bringing its total dividend to 40p per share.

Looking ahead, Yu said its order book continues to grow, with strong bookings and margin performance continuing into 2024, despite a lower commodity market environment, it said. The firm added that it expects to deliver organic growth of around 50% in 2024.

The firm also added that it expects "very strong operational cash generation" for the full year from working capital benefits of the new trading agreement with oil giant Shell PLC's subsidiary, Shell Energy Europe Ltd.

Last month, Yu said its subsidiary, Yu Energy Retail Ltd, entered struck a trading teal with Shell Energy Europe for an initial five-year term. "Entry into the hedging facility represents the conclusion of a twelve-month selection and due diligence process and is effective immediately. The hedging facility replaces the previous arrangement entered into in 2019 with SmartestEnergy Ltd," Yu had explained.

Shares in Yu Group rose 5.1% to 1,435.00 pence each in London on Tuesday morning.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Trade    Bid      Offer    Prev.    Buyer    Seller
Ebob $915
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob
Barges
E10
Platts(fo
b ARA)
Ebob $896-$8 $896-$8 BP, Gunvor
Barges 96.25 99 Litasco
Argus (8KT)
E5(fob
AR)
Ebob $882-$8 $883-$8 P66, BP Varo,
Barges 82.25 84 Total
E10 Argus (10KT)
(fob AR)
June swap $862.50 $865.25
(fob ARA)
Premium $876 885.00- Vitol Trafigu
Unleaded $888.50 ra,
(fob ARA) (21 Litasco
<PU-10PP- barges)
ARA>
Cargoes May
(fob MED) +$15
Cargoes $908
(cif NEW) (Thames
)
Naphtha May +$6
(cif NEW)
<NAF-C-NW
E>

Ebob crack (per barrel) $23.15 Prev. $22.81
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ron Bousso; Editing by Kirsten Donovan)

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Oil majors offered faster Nigerian exit if they pay for cleanup

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May 3 -

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Trade    Bid      Offer    Prev.    Buyer    Seller
Ebob $915
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob
Barges
E10
Platts(fo
b ARA)
Ebob $896-$8 $905.25 Litasco Gunvor,
Barges 99 -906 , Exxon,
Argus (8KT) (8KT) Shell, Mabanaf
E5(fob Glencor t
AR) e
Ebob $883-$8 $887.75 Shell, Varo,
Barges 84 (6KT) Exxon, Totsa
E10 Argus (10KT) Musket
(fob AR)
May swap $865.25 $875
(fob ARA)
Premium 885.00- $902-90 Litasco Trafigu
Unleaded $888.50 5 (5 , Varo, ra,
(fob ARA) (21 barges) Vitol Gunvor
<PU-10PP- barges)
ARA>
Cargoes May
(fob MED) +$15
Cargoes
(cif NEW)
Naphtha May +$6
(cif NEW)
<NAF-C-NW
E>

Ebob crack (per barrel) $21.674 Prev. $23.184
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Noah Browning;Editing by Elaine Hardcastle)

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*

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