17th Sep 2020 14:38
eEnergy Group PLC - energy efficiency services provider based in London - For financial year ended June 30, posts pretax loss of GBP3.2 million, widened from GBP1.4 million loss the year prior. This is despite revenue rising 14% year-on-year to GBP4.5 million from GBP3.9 million. Operating expenses for the period total GBP4.4 million, up from GBP2.6 million. Gross margin up to 36% from 30%
Delivers 64 installations in the first quarter of financial 2021 with revenue of GBP4 million, up nearly six times year-on-year. Expects to achieve break-even at pretax level for six months to December 31.
Looking ahead, Chief Executive Harvey Sinclair says: "As well as making progress in growing our light-as-a-service business eLight, we will continue to assess strategic acquisition opportunities, including exploring new opportunities in expanding our offer in the energy management sector."
Cash at as June 30 is GBP1.5 million, up from GBP196,000 a year before.
Current stock price: 6.61 pence
Year-to-date change: down 45%
By Ife Taiwo; [email protected]
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