30th May 2019 13:33
LONDON (Alliance News) - Plutus PowerGen PLC on Thursday said it is trading in line with management expectations, as it guided for a small annual operating loss for the year ended April 30.
Plutus PowerGen shares were trading down 8.5% at 0.27 pence each.
Looking further ahead, the flexible energy generation development firm said it expects to break even in the year ending April 2020. For financial 2018, the company posted a pretax loss of GBP567,183 on revenue of GBP1.4 million.
As at the end of April, the company had GBP64,105 in cash, broadly flat compared to the previous year's GBP63,000.
"I am very pleased with recent developments as we focus on creating a portfolio of profitable operations within the robust flexible energy sector," Chief Executive Officer James Longley said.