Marechale Capital full-year loss widens amid 'challenging backdrop'

Marechale Capital PLC on Friday reported lower full-year revenue, with profit hurt by equity investment losses.

Marechale Capital is a London-based adviser and financing provider for consumer brands, leisure, clean energy, mineral extraction and technology companies.

It reported a widening of its pretax loss to £337,325 in the financial year that ended April 30, from £182,987 a year earlier.

Whilst revenue fell during the period, cost of sales fell more significantly, with the weaker bottom line driven by a swing to other losses from gains the prior year.

Revenue fell 39% to £409,413 from £668,816, but cost of sales fell 71% to £134,731 from £471,433. Gross profit therefore rose 39% to £274,682 from £197,384.

Realised losses on equity investments multiplied to £99,837 from £5,402, with Marechale swinging to £31,832 in unrealised losses on equity investments from £250,000 in unrealised gains.

Net asset value at April 30 was £3.0 million, falling from £3.3 million a year earlier. NAV per share fell to 2.9 pence from 3.10p.

Shares in Marechale were 0.5% lower at 1.89p on Friday afternoon in London.

‘It has been a challenging year generally and in the hospitality sector in particular, as a number of businesses negotiated a continuing period of market uncertainty, with increased inflation driven overheads, compounded by a squeeze in discretionary spending. However, against this challenging backdrop, there are significant market opportunities for Marechale’s clients,’ said Chair Mark Warde-Norbury.

‘The board is working on a number of initiatives to create further value for shareholders, and the plan is to continue to develop Marechale’s strategic funding partnerships with the objective of enhancing shareholder value,’ added Warde-Norbury

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