UK's Esken at record low after full-year profit slumps

Esken

21/06/2023 10:19

** Shares of aviation and renewable group Esken Ltd  ESKN.L 
down as much as 32% to a record low of 2.5p 
    ** Top pct loser across all London stocks
    ** Co's FY adjusted EBITDA falls 47% to 5.6 mln pounds
($7.13 mln)
    ** Says it is working to sell its core renewables and
loss-making aviation businesses
    ** FY adj EBITDA loss for its aviation division widened by a
staggering 390% to 3.8 mln pounds due to staffing challenges and
industrial actions at airports across Europe    
    ** Renewables divison's FY adj EBITDA down 9.5%, affected by
series of unplanned outages at plants and high inflation 
    ** Adds that challenges of renewable division's biomass
plant outages faced last year has continued in the new financial
year, but sees signs of improvement in gate fees and consistency
of plant performance
    ** Shares down ~27.5% YTD, as of last close


    ($1 = 0.7853 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))