Significant Growth in Wigton Q1 Earnings
- Wigton Windfarm reported a substantial 109.8% YoY growth in net profit to $366.40M (EPS: $0.03) for the first quarter ending June 30, 2019.
- This growth was due to a 6.3% (or $49.9Mn) increase in revenue combined with a 14.3% (or $8.53Mn) increase in other income to $68.03Mn. At the same time, there was a 58.7% (or $210.36Mn) reduction in finance expenses to $147.43Mn. The increase in revenue was as a result of a 2.9% increase in production and a 9.4% increase in the availability of wind turbines.
- The stock price has fallen 5.7% since the start of the September quarter closing yesterday’s trading session at $0.83. At this price the stock currently trades at a P/E of 12.21x earnings which is below the Main Market Industrials and Materials sector average of 26.36x.
(Source: WIG Financials)