Annual Report

In the wake of the challenges arising from the Covid-19 pandemic, I am pleased to report to shareholders that for the year ended 31 December 2021, your company made a profit before interest, tax, depreciation and amortisation (EBITDA) of £5.8million (2020: loss: £2.4 million) and an operating profit before depreciation, fair value adjustments and exchange movements (Adjusted EBITDA) of £5.0million (2020: loss: £1.1million). £4.3million in adjusted EBITDA is attributable to the second half of the year.

Company Overview

Bisichi PLC is a fully listed company and its principal activity is coal mining in South Africa. The group is a controlling shareholder in Black Wattle Colliery, a coal mining and coal washing operation situated in Mpumulanga, South Africa. The groups' strategy is to create and deliver long term sustainable value to its stake holders through the acquisition and investment in new mining operations in South Africa as well as through the development of its existing operations. In addition to its mining activities, the group seeks to balance the high risk of mining with a dependable cash flow and capital appreciation from its UK property investment operations. The group invests in retail property across the UK and owns a portfolio of retail property currently worth some £14m. 

Sir Michael Heller, Chairman. Andrew Heller, Managing Director.