Mercantile Ports & Logistics Limited (MPL)

Sector:

Commercial Transport

Index:

FTSE AIM All-Share

 1.80p
   
  • Change Today:
      0.000p
  • 52 Week High: 6.00
  • 52 Week Low: 1.45
  • Currency: UK Pounds
  • Shares Issued: 356.31m
  • Volume: 10,261
  • Market Cap: £6.41m
  • RiskGrade: 1,089

Skil Ports needs further funds for Mumbai facility

By Maryam Cockar

Date: Thursday 22 Sep 2016

LONDON (ShareCast) - (ShareCast News) - India's Skil Ports & Logistics swung to a small profit in the first half of the year but the company confirmed it needs an additional £36m to complete construction at its Mumbai facility.
Skil, which is not yet generating revenue as it develops a port and logistics facility in Mumbai, posted a small profit for the six months ended 30 June from financing activities and was left with £24.8m worth of rupees of cash on hand and a £24.8m headroom in its existing credit facility.

Executive chairman Nikhil Gandhi said, after discussions with its contractor, the board has calculated that it will need a further £36m cash to fund the completion of the project and capitalise the company until it is financially self-sufficient.

Gandhi said various funding opportunities were being explored, and has instructed advisers to look into a placing and open offer, alongside options such as increasing banking facilities and securing a strategic partner.

During the six months the company reclaimed 30 hectares of land with dredging restarting after the monsoon period, which is expected to end soon, with the port able to receiving vessels by the end of this year but revenues from operations not expected until later in 2017.

Gandhi said the company's sales and marketing received positive feedback from potential end users and the company will seek to reach agreements with them in the coming months.

Shares in Skil Ports & Logistics were up 7.69% to 10.50p at 1358 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPL Market Data

Currency UK Pounds
Share Price 1.80p
Change Today 0.000p
% Change 0.00 %
52 Week High 6.00
52 Week Low 1.45
Volume 10,261
Shares Issued 356.31m
Market Cap £6.41m
RiskGrade 1,089

MPL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.33% above the market average42.33% above the market average42.33% above the market average42.33% above the market average42.33% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average
Price Trend
90.17% below the market average90.17% below the market average90.17% below the market average90.17% below the market average90.17% below the market average
87.5% below the sector average87.5% below the sector average87.5% below the sector average87.5% below the sector average87.5% below the sector average
Income Not Available
Growth
61.73% above the market average61.73% above the market average61.73% above the market average61.73% above the market average61.73% above the market average
62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MPL Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
10:46 54 @ 1.83p
10:03 207 @ 1.83p
09:00 10,000 @ 1.90p
09:00 10,000 @ 1.90p

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