Wigton WindFarm Reports Solid Year-End Profit Owing to Reduced Finance Costs

• For the year ended March 2020, Wigton Windfarm Limited reported a 34.3% increase in audited net income relative to the corresponding period in 2019. Net Profits rose from $493.59Mn (EPS:4¢) in 2019 to $662.75Mn (EPS: 4¢) in 2020.
• Despite a 56.1% ($282.11) decline in other income, this favorable outturn was largely due to a 49.8% (or $522.88Mn) reduction in finance costs.
• The company’s stock price has fallen 18.6% since the start of the year, closing Monday’s trading session at $0.79. At this price, the stock currently trades at a P/E of 13.2x earnings, which is below the Main Market Industrials and Materials Sector Average of 24.5x.

(Source: WWF Financials)