17th Mar 2021 20:04
Ceres Power Holdings PLC - Horsham, West Sussex-based solid oxide fuel cell developer - Posts pretax loss for 18 months to December 31, 2020 of GBP17.3 million, widening from GBP7.3 million for the 12 months ended June 30, 2019. Operating costs almost double to GBP40.3 million from GBP20.5 million. Revenue increases to GBP31.7 million from GBP15.3 million. Says strong commercial progress drove good revenue growth. Ceres changed its year end date to December 31 from June 30.
"We finished the period strongly with good momentum in the business. A key focus for the year ahead will be on ensuring we deliver for our manufacturing partners as they work towards scaling up their production capabilities. We will also seek to develop new systems relationships through the new collaboration with AVL List, which broadens our presence across multiple new application areas," says Chief Executive Philip Caldwell.
Current stock price: 1,108.00 pence
Year-to-date change: down 16%
By Greg Roxburgh; [email protected]
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