Jersey Electricity PLC

Jersey Electricity PLC (LSE: JEL) is an LSE-listed Jersey-based supplier of electricity.

H1 FY23 Interim Results (released on 17 May 2023)

• Increased Revenue: The group reported an increase of 6.7% in the total revenue to GBP 69.4 mn in H1 FY23 as compared to the revenue of GBP 65.0 mn in pcp, driven by both energy and retail segments. The revenue from the energy segment rose by GBP 4.0 mn in H1 FY23 on account of the increase in tariff, despite the marginal decline in the units sold. Also, the revenue from the powerhouse retail business surged by 5% in the same period to GBP 10 mn in H1 FY23 versus GBP 9.5 mn in pcp.
• Improved Bottom Line: The group reported an increase in the gross profit at GBP 26.51 mn in H1 FY23 versus GBP 22.13 mn in pcp, where the profit after taxation also surged to GBP 8.09 mn in the same period versus GBP 5.50 mn in pcp. The basic and diluted EPS improved to GBX 26.23 per share in H1 FY23 when measured against GBX 17.78 per share in pcp.
• Dividend Declaration: The management declared an interim dividend of GBX 8.0 per as compared to the previous interim dividend of GBX 7.60 per share in pcp. This brings the dividend yield (annualized) to approx. 4.04% from the closing price of the stock on 27 June 2023.
• Outlook: The management is carefully watching the volatility of the energy prices and the demand, which can impact financial performance to a certain extent. Further, the company is undertaking the hedging of the relative underlying to minimize the impact of the volatility in the electricity market, and the group is affirmative to withstand the fluctuations for a minimum of 12 months with the resources in the books.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Jersey Electricity PLC (LSE: JEL) was trading at the closing market price at GBX 465.00 (as of 27 June 2023).  

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 27 June 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.’

Disclaimer

References to ‘Kalkine’, ‘we’, ‘our’ and ‘us’ refer to Kalkine Limited.

This website is a service of Kalkine Limited. Kalkine Limited is a private limited company, incorporated in England and Wales with registration number 07903332. Kalkine Limited is authorised and regulated by the Financial Conduct Authority under reference number 579414.

The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. No advice or information, whether oral or written, obtained by you from Kalkine or through or from the service shall create any warranty not expressly stated. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation.

Kalkine does not offer financial advice based upon your personal financial situation or goals, and we shall NOT be held liable for any investment or trading losses you may incur by using the opinions expressed in our publications, market updates, news alerts and corporate profiles. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. Kalkine’s non-personalised advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested.

Kalkine Media Limited, an affiliate of Kalkine Limited, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.