Harland & Wolff Group Holdings PLC - Belfast-based offshore construction company - Posts results for the 17-month period ended December 31, 2021 compared to 12 months ended July 31, 2020.
Pretax loss widens to GBP25.5 million from GBP10.4 million. Revenue surges to GBP18.5 million from GBP1.5 million. Loss per share grows to 26.51 pence from 0.34p. Expects revenue in 2022 to rise sharply to between GBP65 million and GBP75 million. While impact of Covid-19 has eased, firm has concerns due to Ukraine crisis, rising energy prices and ongoing supply chain issues.
"I fully expect to complete one of our biggest milestones by the end of the first half year or early third quarter of 2022 so as to have all key markets fully active," says Chief Executive Officer John Wood. "I am more confident than ever that we are well positioned to deliver across all five of our markets," he adds.
Current stock price: 13.06 pence, down 11% on Monday
12-month change: down 57%
By Tom Budszus; tombudszus@alliancenews.com
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Harland & Wolff (HARL)