31st May 2016 15:59
LONDON (Alliance News) - Green & Smart Holdings PLC on Tuesday said the good momentum seen in the second half of its previous financial year has continued in to the new year, though revenue is set to take a hit on delays to work on its Felda Kahang project.
Green & Smart, a renewable energy company, said construction work on the Felda Kahang project in Malaysia has been completed, but the two gas engines which had been due for delivery to the site by the end of May will now be transferred to the site by mid-June.
This will result on delays to work on the project and will hit revenue for the year to the end of September by around GBP200,000, reflecting power sales foregone during the period.
Live testing of biogas project and power generation from the plant will take place after the interconnection works are completed on the project and Green & Smart said it expects to generate revenue after this is done.
Green & Smart shares were untraded on Tuesday, having last traded at 10.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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