16th Jun 2023 10:14
Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer that produces batteries for the large-scale requirements of business networks - Says pleased to note significant reduction in the provision for contract losses which was previously recorded. As a result, Invinity expects its reported gross margin loss and pretax loss to be materially better than was anticipated.
Additionally, says it expects to report revenue of about GBP3.6 million in line with the delivery of about 4.3 megawatts per hour of products produced during the year. As at March 31, cash balance stands at GBP15.4 million.
Says its results for 2022 will be published on June 30.
Current stock price: 41.00 pence each, down 6.8% on Friday morning in London
12-month change: down 4.5%
By Xindi Wei, Alliance News reporter
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