Aggregated Micro Power Shares Rise As It Ups Revenue Guidance

20th Mar 2018 13:52

LONDON (Alliance News) - Shares rose in Aggregated Micro Power Holdings PLC on Tuesday as it increased its revenue guidance for its current financial year after positive trading during the winter season.

Shares in the energy company rose 13% to 112.75 pence on Tuesday.

Revenue for the year ending March 31 is expected to be up to GBP40.0 million, up from the previous estimate of GBP30.0 million. In its previous financial year, it posted revenue of GBP19.7 million.

In addition, following the acquisition of Billington Energy Ltd in October and the assets of CPL Distribution Ltd in September, Aggregated Micro said it will integrate them into the Forest Fuels segment at the start of April.

Non-recurring costs are expected to be incurred relating to re-branding, asset write-offs, internal management changes, and depot closures, which will be recognised in the current financial year.

"I am pleased to report an uplift in our target for full year revenues. Our business continues to grow and the restructuring of our fuels business under the Forest Fuels brand should provide us with a strong platform for future growth in 2018 and beyond," said Chief Executive Richard Burrell.

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