Sutton Harbour (SUH.L) Wednesday reported a wider net loss in its full year, with lower revenues, and said its board does not recommend a final dividend.
Loss for the year attributable to owners of the parent widened to 2.85 million pounds or 2.96 pence per share from 0.77 million pounds or 1.10 pence per share same period last year. The last year results are restated.
Loss before tax from continuing operations was 3.68 million pounds versus profit of 0.86 million pounds prior year.
Revenue declined to 7.04 million pounds from 9.90 million pounds a year ago.
The company said board recommended no final dividend for the year. The consequent saving in debt servicing costs is considered to be a major factor in determining future dividend payments.
The company also said, second half year is typically more lucrative for the fisheries business and well-positioned to react quickly to an upturn in occupier demand for many of its development opportunities.
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