Jersey Electricity 'A' Shares

JEL · Main Market · Utilities · mcap £135m · 440.0p

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Financials · LTM to 31 Mar 26

Source: results 12 Jun 26 ↗

Revenue: £147m
Operating profit: £13.8m
Net income: £10.7m
Free cash flow: −£385k
Net cash: £2.8m
Market cap: £135m
EV / EBIT: 9.6×
FCF yield: −0.3%
Price / book: 0.5×

Latest half-year · H1 Mar 26 vs H1 Mar 25 results 12 Jun 26 ↗

Revenue: £83.4m
Operating profit: £10.2m
Net income: £7.9m
Cash from operations: £10.6m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Half-year/ Interim Report, published 12 Jun 26 · read the announcement ↗

Interim Consolidated Income Statement (Unaudited) · 31-Mar 30-Sep

	2026 £000	2025 £000	2025 £000
Revenue	83,407	82,367	146,196
Cost of sales	(54,387)	(54,665)	(92,731)
Gross profit	29,020	27,702	53,465
Profit on revaluation of investment properties	(0)	(485)	(895)
Operating expenses	(18,833)	(16,959)	(38,688)
Group operating profit	10,187	10,258	13,882
Finance income	603	1,026	1,883
Finance costs	(781)	(793)	(1,575)
Profit from operations before taxation	10,009	10,491	14,190
Taxation	(2,102)	(2,322)	(3,126)
Profit from operations after taxation	7,907	8,169	11,064
Attributable to
Owners of the Company	7,892	8,150	11,000
Non-controlling interests	15	19	64
	7,907	8,169	11,064
Earnings per share
- basic and diluted	25.76p	26.60p	35.90p

Interim Consolidated Balance Sheet (Unaudited)

	2026	2025	2025
NON-CURRENT ASSETS
Intangible assets	194	200	227
Property, plant and equipment	248,117	235,676	243,398
Right of use assets	5,098	5,093	5,302
Investment properties	25,830	26,240	25,830
Trade and other receivables	300	300	300
Retirement benefit surplus	29,215	29,936	27,262
Derivative financial instruments	234	70	636
Other investments	5	5	5
Total non-current assets	308,993	297,520	302,960
CURRENT ASSETS
Inventories	8,177	8,400	7,916
Trade and other receivables	29,678	32,795	25,172
Derivative financial instruments	464	15	550
Cash and cash equivalents	32,762	38,487	38,690
Total current assets	71,081	79,697	72,328
TOTAL ASSETS	380,074	377,217	375,288
CURRENT LIABILITIES
Trade and other payables	21,153	24,665	22,207
Lease liabilities	550	327	339
Derivative financial instruments	94	2,603	571
Current tax liabilitie s	1,925	2,517	2,904
Total current liabilities	23,722	30,112	26,021
NET CURRENT ASSETS	47,359	49,585	46,307
NON-CURRENT LIABILITIES
Trade and other payables	28,946	28,345	28,322
Lease liabilities	3,909	3,843	4,278
Derivative financial instruments	577	106	-
Financial liabilities - preference shares	235	235	235
Borrowings	30,000	30,000	30,000
Deferred tax liabilities	34,035	32,977	32,285
Total non-current liabilities	97,702	95,506	95,120
TOTAL LIABILITIES	121,424	125,618	121,141
NET ASSETS	258,650	251,599	254,147
EQUITY
Share capital	1,532	1,532	1,532
Revaluation reserve	5,270	5,270	5,270
ESOP reserve	(37)	(35)	(37)
Other reserves	22	(2,099)	493
Retained earnings	251,805	246,868	246,851
Equity attributable to the owners of the Company	258,592	251,536	254,109
Minority interest	58	63	38
TOTAL EQUITY	258,650	251,599	254,147

Interim Consolidated Cash Flow Statement (Unaudited) · 2026 2025 2025 · £ 000's £ 000's £ 000's

	Six months ended 30 March	Year ended 30 September
Cash flows from operating activities
Operating profit before exceptional items	10,258	13,882
Depreciation and amortisation charges	5,792	11,821
Share based reward charges	-	(2)
Loss on revaluation of investment property	485	895
Pension operating charge less contributions paid	(701)	1,739
Deemed interest from hire purchase agreements	126	244
Profit on sale of property, plant and equipment	-	(76)
Operating cash flows before movement in working capital	15,960	28,503
Working capital adjustments
(Decrease)Increase in inventories	35	548
Increase in receivables	(8,314)	(269)
Increase / (decrease) in payables	3,691	1,304
Net movement in working capital	(4,588)	1,583
Interest paid on borrowings	-	(1,363)
Preference dividends paid	(9)	(9)
Income taxes paid	(1,708)	(3,415)
Net cash flows from operating activities	9,655	25,299
Cash flows from investing activities
Purchase of property, plant and equipment	(16,602)	(30,280)
Investment in intangible assets	-	(280)
Deposit interest received	900	1,607
Net proceeds from disposal of fixed assets	82	125
Net cash flows used in investing activities	(15,620)	(28,828)
Cash flows from financing activities
Equity dividends paid	(3,676)	(6,379)
Acquisition of additional interest in subsidiary	(23)	-
Interest paid on borrowings	(784)	-
Dividends paid to non-controlling interest	-	(70)
Repayment lease liabilities	(255)	(522)
Net cash flows used in financing activities	(4,738)	(6,971)
Net (decrease) / increase in cash and cash equivalents	(10,703)	(10,500)
Cash and cash equivalents at the beginning of the year	49,190	49,190
Cash and cash equivalents at the end of the period	38,487	38,690

Annual Report, published 16 Dec 25 · read the announcement ↗

Consolidated Statement of Comprehensive Income for the year ended 30 September 2025 | 2025 | 2024

	£000	£000
Profit for the year	11,064	11,700
Items that will not be reclassified subsequently to profit or loss: Actuarial gain/loss on defined benefit scheme	1,049	925
Income tax relating to items not reclassified	(210)	(185)
	839	740
Items that may be reclassified subsequently to profit or loss: Fair value loss on cash flow hedges	4,667	(3,483)
Income tax relating to items that may be reclassified	(933)	697
	3,734	(2,786)
Total comprehensive income for the year	15,637	9,654
Attributable to: Owners of the Company	15,573	9,572
Non-controlling interests	64	82
	15,637	9,654
All results in the year have been derived from continuing operations
Consolidated Balance Sheet as at 30 September 2025
2025 £000 2024 £000
Non-current assets Intangible assets	227	364
Property, plant and equipment	243,398	225,523
Right of use assets	5,302	4,621
Investment properties	25,830	26,725
Trade and other receivables	300	300
Retirement benefit asset	27,262	27,952
Derivative financial instruments	636	-
Other investments	5	5
Total non-current assets	302,960	285,490
Current assets Inventories	7,916	8,435
Trade and other receivables	25,172	24,902
Derivative financial instruments	550	-
Cash and cash equivalents	38,690	49,190
Total current assets	72,328	82,527
Total assets	375,288	368,017
Current Liabilities Trade and other payables	22,207	23,027
Current tax liabilities	2,904	3,413
Lease liabilities	339	306
Derivative financial instruments	571	2,601
Total current liabilities	26,021	29,347
Net current assets	46,307	53,180
Non-current liabilities Trade and other payables	28,322	27,222
Lease liabilities	4,278	3,878
Derivative financial instruments	-	1,451
Financial liabilities - preference shares	235	235
Borrowings	30,000	30,000
Deferred tax liabilities	32,285	30,923
Total non-current liabilities	95,120	93,709
Total liabilities	121,141	123,056
Net assets	254,147	244,961
Equity Share capital	1,532	1,532
Revaluation reserve	5,270	5,270
ESOP reserve (	37)	(35)
Other reserves	493	(3,241)
Retained earnings	246,881	241,391
Equity attributable to the owners of the Company	254,109	244,917
Non-controlling interests	38	44
Total equity	254,147	244,961

Consolidated Balance Sheet as at 30 September 2025

	2025 £000	2024 £000
Non-current assets Intangible assets	227	364
Property, plant and equipment	243,398	225,523
Right of use assets	5,302	4,621
Investment properties	25,830	26,725
Trade and other receivables	300	300
Retirement benefit asset	27,262	27,952
Derivative financial instruments	636	-
Other investments	5	5
Total non-current assets	302,960	285,490
Current assets Inventories	7,916	8,435
Trade and other receivables	25,172	24,902
Derivative financial instruments	550	-
Cash and cash equivalents	38,690	49,190
Total current assets	72,328	82,527
Total assets	375,288	368,017
Current Liabilities Trade and other payables	22,207	23,027
Current tax liabilities	2,904	3,413
Lease liabilities	339	306
Derivative financial instruments	571	2,601
Total current liabilities	26,021	29,347
Net current assets	46,307	53,180
Non-current liabilities Trade and other payables	28,322	27,222
Lease liabilities	4,278	3,878
Derivative financial instruments	-	1,451
Financial liabilities - preference shares	235	235
Borrowings	30,000	30,000
Deferred tax liabilities	32,285	30,923
Total non-current liabilities	95,120	93,709
Total liabilities	121,141	123,056
Net assets	254,147	244,961
Equity Share capital	1,532	1,532
Revaluation reserve	5,270	5,270
ESOP reserve (	37)	(35)
Other reserves	493	(3,241)
Retained earnings	246,881	241,391
Equity attributable to the owners of the Company	254,109	244,917
Non-controlling interests	38	44
Total equity	254,147	244,961

Consolidated Statement of Cash Flows for the year ended 30 September 2025

	2025 £000	2024 £000
Cash flows from operating activities Operating profit	13,882	14,369
Depreciation, amortisation and impairment charges	11,821	14,181
Share-based reward charges	(2)	-
Loss on revaluation of investment property	895	890
Pension operating charge less contributions paid	1,739	(1,481)
Deemed interest income from hire purchase arrangements	244	201
Loss/(profit) on sale of property, plant and equipment	(76)	1
Operating cash flows before movement in working capital	28,503	28,161
Working capital adjustments
Decrease/(Increase) in inventories	548	752
Increase in trade and other receivables	(269)	(1,133)
Increase/(Decrease) in trade and other payables	1,304	1,130
Net movement in working capital	1,583	749
Interest paid on borrowings	(1,363)	(1,208)
Preference dividends paid	(9)	(9)
Income taxes paid	(3,415)	(3,301)
Net cash flows from operating activities	25,299	24,392
Cash flows from investing activities Purchase of property, plant and equipment	(30,280)	(18,036)
Investment in intangible assets	(280)	(53)
Deposit interest received	1,607	2,090
Net proceeds from disposal of fixed assets	125	34
Net cash flows used in investing activities	(28,828)	(15,965)
Cash flows from financing activities Equity dividends paid	(6,379)	(6,067)
Dividends paid to non-controlling interest	(70)	(170)
Repayment of lease liabilities	(522)	(429)
Net cash flows used in financing activities	(6,971)	(6,666)
Net increase in cash and cash equivalents	(10,500)	1,761
Cash and cash equivalents at the beginning of the year	49,190	47,429
Effect of foreign exchange rate changes	-	-
Cash and cash equivalents at the end of the year	38,690	49,190

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 Mar 26 (six months to 31 Mar 26), published 12 Jun 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Mar 26	FY Sep 25	FY Sep 24
Revenue to operating profit
Revenue	147.2	146.2	135.7
Gross profit	54.8	53.5	–
Operating profit	13.8	13.9	14.4
Operating profit to net income
Finance costs	(1.6)	(1.6)	(1.5)
Profit before tax	13.7	14.2	15.1
Tax	(2.9)	(3.1)	(3.4)
Net income (owners)	10.7	11.0	11.6
Per share
EPS basic	35.1p	35.9p	37.9p
EPS diluted	35.1p	35.9p	37.9p
Dividend per share	21.3p	20.8p	19.8p

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue to operating profit
Revenue	83.4	+1%	63.8	82.4
Gross profit	29.0	+5%	25.8	27.7
Operating profit	10.2	−1%	3.6	10.3
Operating profit to net income
Finance costs	(0.8)	−2%	(0.8)	(0.8)
Profit before tax	10.0	−5%	3.7	10.5
Tax	(2.1)	−9%	(0.8)	(2.3)
Net income (owners)	7.9	−3%	2.9	8.2
Per share
EPS basic	25.8p	–	9.3p	26.6p
EPS diluted	25.8p	–	9.3p	26.6p
Dividend per share	9.3p	–	12.0p	8.8p

	LTM Mar 26	FY Sep 25	FY Sep 24
Operating activities
Cash from operations	26.2	25.3	24.4
Interest paid	–	(1.4)	(1.2)
Tax paid	(3.2)	(3.4)	(3.3)
Investing activities
Capex (PP&E)	(25.8)	(30.3)	(18.0)
Capex (intangibles)	–	(0.3)	(0.1)
Financing activities
Lease principal paid	(0.5)	(0.5)	(0.4)
Dividends paid	(6.6)	(6.4)	(6.1)

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Operating activities
Cash from operations	10.6	+9%	15.6	9.7
Tax paid	(1.5)	−15%	(1.7)	(1.7)
Investing activities
Capex (PP&E)	(12.1)	−27%	(13.7)	(16.6)
Financing activities
Lease principal paid	(0.3)	+8%	(0.3)	(0.3)
Dividends paid	(3.9)	+5%	(2.7)	(3.7)

	Latest Mar 26	FY Sep 25	FY Sep 24
Non-current assets
Other intangibles	0.2	0.2	0.4
Property, plant & equipment	248.1	243.4	225.5
Investment property	25.8	25.8	26.7
Other investments	–	0.0	0.0
Non-current assets	309.0	303.0	285.5
Current assets
Inventories	8.2	7.9	8.4
Trade receivables	29.7	25.2	24.9
Cash	32.8	38.7	49.2
Current assets	71.1	72.3	82.5
Total assets	380.1	375.3	368.0
Current liabilities
Trade payables	21.2	22.2	23.0
Lease liabilities, current	0.6	0.3	0.3
Current liabilities	23.7	26.0	29.3
Non-current liabilities
Borrowings, non-current	30.0	30.0	30.0
Lease liabilities, non-current	3.9	4.3	3.9
Pension surplus / (deficit)	29.2	27.3	28.0
Non-current liabilities	97.7	95.1	93.7
Total liabilities	121.4	121.1	123.1
Equity
Non-controlling interests	0.1	0.0	0.0
Total equity	258.6	254.1	245.0
Net cash and other figures
Net cash / (debt) ex leases	2.8	8.7	19.2

	H1 Mar 26	H2 Sep 25	H1 Mar 25	H2 Sep 24
Non-current assets
Other intangibles	0.2	0.2	0.2	0.4
Property, plant & equipment	248.1	243.4	235.7	225.5
Investment property	25.8	25.8	26.2	26.7
Other investments	–	0.0	–	0.0
Non-current assets	309.0	303.0	297.5	285.5
Current assets
Inventories	8.2	7.9	8.4	8.4
Trade receivables	29.7	25.2	32.8	24.9
Cash	32.8	38.7	38.5	49.2
Current assets	71.1	72.3	79.7	82.5
Total assets	380.1	375.3	377.2	368.0
Current liabilities
Trade payables	21.2	22.2	24.7	23.0
Lease liabilities, current	0.6	0.3	0.3	0.3
Current liabilities	23.7	26.0	30.1	29.3
Non-current liabilities
Borrowings, non-current	30.0	30.0	30.0	30.0
Lease liabilities, non-current	3.9	4.3	3.8	3.9
Pension surplus / (deficit)	29.2	27.3	29.9	28.0
Non-current liabilities	97.7	95.1	95.5	93.7
Total liabilities	121.4	121.1	125.6	123.1
Equity
Non-controlling interests	0.1	0.0	0.1	0.0
Total equity	258.6	254.1	251.6	245.0
Net cash and other figures
Net cash / (debt) ex leases	2.8	8.7	8.5	19.2

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.