Plutus PowerGen books first-half loss amid flat sales

Writer, Stock Market Wire
Wednesday, January 30, 2019 - 09:25

Flexible energy generation group Plutus PowerGen booked a first-half loss as flat revenue was more than offset by administrative, remuneration and financing expenses.

Pre-tax losses for the six months through October amounted to £131,573, narrowing from losses of £392,489 on-year.

Revenue was flat at £675,000.

'The company had a robust first half and whilst revenues were flat, the board's efforts to reduce costs successfully resulted in reduced operating losses,' interim chief executive James Longley said.

'Furthermore, with the directors concentrating on the operations of the FlexGen portfolio, which are working well, and progressing talks with regard to achieving a suite of equity and debt for its planned "gas peaker" portfolio, we look forward to being able to update the market with progress thereon.'

At 9:25am: (LON:PPG) Plutus Powergen Plc share price was 0p at 0.5p

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