11th Mar 2015 10:19
LONDON (Alliance News) - Ceres Power Holdings PLC Wednesday reported a wider loss for the first half of the financial year as research and development costs and administrative expenses rose, but Chairman Alan Aubrey said he was confident the technical advances the company had made would soon advance its commercial opportunities.
The company, which is developing next-generation fuel cell technology for use by the energy industry, reported a net loss of GBP4.7 million for the six months to December 31, compared with a loss of GBP3.4 million a year earlier, as it increased its R&D spending. The company currently makes little in the way of revenue: the figure fell to GBP133,000 from GBP895,000.
Ceres Power shares were up 1.2% at 8.80 pence Wednesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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