Shares of CLS Holdings Plc (CLI.L) were down 8 percent on Tuesday's trading after the company reported a loss in fiscal 2024, though narrower than last year, helped by higher rental income and strong leasing performances. The company also announced lower dividend.
The company posted pre-tax loss of 97.4 million pounds for fiscal 2024, compared to a pre-tax loss of 263.4 million pounds a year ago. Annual loss per share from continuing operations came in 23.6 pence, compared to loss of 62.9 pence recorded last year.
EPRA earnings per share fell 10.7 percent to 9.2 pence from 10.3 pence last year.
During the year, the commercial property investment company's net rental income rose 4 percent to 117.3 million pounds from 113.0 million pounds in the prior year, helped by new leases and renewals, other income, increased student and hotel revenue and indexation.
The company said that it plans to complete the remaining 78.6 million pounds of its 270 million pounds targeted sales program in fiscal 2025.
Further, CLS Holdings plans to offer shareholders a final dividend of 2.68 pence per share, which will take the full-year dividend to 5.28 pence per share. This is lower than last year's dividend of 7.95 pence per share. The final dividend will be paid on May 23, the company added.
On the LSE, the stock is down 7.68 percent to trade at 64.81 pence.
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