Residential energy efficiency provider Eaga Plc (EAGA.L) Thursday reported higher profit for the first six months, helped by strong demand for its products and services. The company said its financial year continues to progress in line with expectations and that it remains confident in the outlook for the rest of the year.
The U.K-based company's half-yearly pre-tax profit increased to GBP 17.38 million from GBP 14.52 million in the previous year.
Profit for the period rose to GBP 12.4 million from GBP 9.06 million in the earlier year. Profit attributable to equity holders was GBP 12.26 million or 4.89 pence per share, compared to GBP 8.93 million or 3.57 pence per share in the preceding year.
On an adjusted basis, earnings for the six-month period rose to GBP 15.34 million or 6.12 pence per share from GBP 13.24 million or 5.30 pence per share in the prior year.
Revenues for the half-year increased 10% to GBP 339.39 million from GBP 309.1 million in the same period last year. The company posted operating profit of GBP 17.12 million, in comparison with GBP 14.2 million in the earlier year.
Administrative expenses were GBP 58.94 million, higher than GBP 43.88 million a year ago. Exceptional costs during the six months relate to a share-based payment charge in respect to fair value of share options granted to certain key management.
The Board declared an interim dividend of 1.1 pence per share, to shareholders of record on February 20, payable on March 23.
EAGA.L is currently trading at 147.25 pence on the LSE.
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