Intelligent Energy revenues up

Intelligent Energy expects revenue for the year to the end of September to be over £90m (FY 14/15 £78m).

Adjusted EBITDA is expected to be c£(35)m (FY 14/15 £(46)m), reflecting the group's larger costs base prior to the recent restructuring.

Cash balance at 30 September is expected to be over £20m.

The company says the business restructuring programme announced on 4 April has now been broadly completed.

This currently places the business, excluding the operations in India, with the following underlying financial profile on an estimated exit run rate basis:

- Adjusted EBITDA, c£(1.1)m a month

- Cash burn, adjusted EBITDA - capex, c£(1.3)m a month

- Cash burn, adjusted EBITDA - capex - interest c£(1.6)m a month on average

At 9:09am: (LON:IEH) Intelligent Energy Holdings Plc share price was +1.63p at 18.13p