May 24, 2023
Unaudited financial statements for the three months ended March 31, 2023:
Investment income decreased by 96% to $10.13 million (2022: $236.94 million).
Hotel Income was $448 million. (2022: nil)
Total Income increased by 31% to $1.01 billion. (2022: $769.49 million).
Operating Expenses increased by 155% to $1.39 billion (2022: $545.64 million).
Operating losses increased to $383.43 million from an operating profit of $226.30 million in the previous year.
Finance costs increased by 15% to $277.08 million (2022: $241.36 million).
Net loss decreased by 98% to $5.55 million (2022: loss of $318.05 million)
Net loss attributable to shareholders decreased by 97% to $11.12 million from a loss of $323.80 million in the prior comparable period.
Loss per share for the period amounted to $0.01 relative to an LPS of $0.31 in 2022. The twelve months trailing EPS amounted to $4.74. The number of shares used in this calculation was 1,066,159,890. As of May 16, 2023 the stock traded at $52.78 and a P/E of 11.12x.
Balance Sheet at a glance:
As at March 31, 2023, Total Assets amounted to $58.44 billion (2022: $57.07 billion). Of this, ‘Investment in associated companies’ increased to $27.32 billion from $26.64 billion in the previous year.
Shareholder’s equity was $42.34 billion (2022: $41.11 billion) with a book value of $39.71 (2022: $38.56).
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