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.”
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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.
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