Mobico Group PLC (NXPGF), a British transport company, Monday reported loss before tax of 98.3 million pounds for the full year, significantly lower than 225.3 million pounds in the previous year, mainly due to reduction in one-time expenses.
Excluding items, the group posted adjusted profit before tax of 92.9 million pounds, down from 145.9 million pounds last year, primarily impacted by cost inflation, reduction in Covid subsidies, and lower profitability in Germany.
Net loss attributable to equity shareholders for the year was 163.8 million pounds or 30.2p per share, lower than 232.3 million pounds or 41.4p per share a year ago. Adjusted loss declined to 49.1 million pounds from 113.4 million pounds last year.
Annual revenue, however, increased 12.2 percent to 3.151 billion pounds from 2.808 billion pounds in the previous year.
For fiscal 2024, Mobico sees adjusted operating profit in the range of 185 million pounds- 205 million pounds. In 2023, adjusted operating profit was 168.6 million pounds.
Separately, the company said its Chief Financial Officer James Stamp will step down, effective June 11, 2024. Helen Cowing has been appointed as the interim finance chief effective the same date.
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