7th Feb 2014 08:37
LONDON (Alliance News) - Auhua Clean Energy Co PLC Friday said that it expects positive financial figures for 2013 and announced both a possible first dividend payment and a share placing plan to raise up to GBP10 million.
The environmental technology company, with operations in China, said it expects to report an annual revenue increase of 1% for the twelve months ended December 31, 2013 compared with 2012.
The company also said it expects that both pretax profit and cash balances will exceed its 2012 performance and be in line with management expectations.
Auhua said that in recognition of its strong performance, it is considering the recommendation of a first dividend for the full year 2013.
The company said it considers 2013 to have been a year of strong growth, strengthened by sales, and a supportive market environment, while the Chinese government remains committed to policies supportive of both urban expansion and renewable energy.
Auhua also announced in a separate statement that it is seeking to raise up to GBP10 million through the issuance of new shares.
The company said it will use the fund raising to further enhance Auhua's market position and presence in the solar market, along with for general working capital.
By Tom McIvor; [email protected]; @TomMcIvor1
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