Shares of Trafalgar Property Group (LON: TRAF) shares are up 3.45% Friday despite the company reporting a wider loss and fall in revenue in its interim results for the 6 months ended 30 September.
James Dubois, the company's Non-Executive Chairman, said the Covid-19 pandemic played a big role in its performance during the period:
‘The results for the year for the six months to 30 September 2021 are disappointing. However, we have been facing a period of great difficulty in the property sector with long planning delays due to the Covid-19 pandemic and this has delayed the start of our next construction projects. Overheads have been reduced significantly whilst we await the results of our planning submissions.”
The residential property developer revealed its revenue for the period was £390,139, falling well short of the £1.3 million posted in H1 2020.
The pretax loss was £338,139, increasing from the H1 2020 pretax loss of £16,699.
Trafalgar shares are currently priced at 0.75p, up 0.67% for the year. After its stock price spiked in February, touching 2.4p per share, there was a reversal, and it fell to a low of 0.72p in June. Since then, Trafalgar shares have been moving sideways with little sign of a potential break higher.
Trafalgar Property shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are TRAF shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.