Marechale Capital (MAC)

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Share Price:
1.13p
Market Cap:
0.65m
Change Today:
0.18p
Sector:
Financials

Marechale Capital shares fall after swinging to first-half loss

By Josh White

Date: Monday 29 Jan 2018

LONDON (ShareCast) - (ShareCast News) - Marechale Capital shares fell significantly on Monday morning, after the company revealed a serious drop in revenue and profit for the six months to 31 October.
The AIM-traded company reported revenue for the period of 125.1k, down from 531k in the equivalent period a year earlier.

Its cost of sales reduced by more than two thirds to 44.4k from 153k, but gross profits were down to just 80.7k from 378.1k.

The firm reported an operating loss of 278.3k, swinging from a small profit of 13.6k a year earlier.

On a statutory basis, the loss for the period was 459.8k, compared to a profit of 10.1k in the prior year, with basic and diluted losses per share of 0.007p, down from profits of 0.02p per share.

"Marechale Capital has had a challenging half year since we reported our final results back in July," said chairman Mark Warde-Norbury.

"The fall in revenues is largely due to delays in a number of the transactions we are involved in, although I am pleased to be able to report that we have recently closed a transaction for a leisure sector client which generated a fee of around 300,000.

"Whilst our deal flow remains strong, it is still taking longer to complete transactions."

Warde-Norbury said one of Marechale Capital's key strategies was the achievement of growth in net asset value generated from options and investments in client and partner companies.

He said that unfortunately, NUKS and Future Biogas had diminished "significantly" in value recently, resulting in write-downs.

"In light of the above, the board of Marechale Capital continues to consider its options," Warde-Norbury added.

As at 1037 GMT, shares in Marechale Capital were down 12.69% at 2.27p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MAC Market Data

Currency UK Pounds
Price 1.13p
Change Today 0.18p
52 Week High 1.25p
52 Week Low 0.68p
Volume 7,057,219
Shares Issued 57.68m
Market Cap 0.65m

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