25th Jun 2014 14:53
LONDON (Alliance News) - Renewable Energy Holdings PLC Wednesday said it significantly narrowed its losses in 2013, after it was hit by hefty write-down costs the prior year.
The company reported a pretax loss of GBP1.4 million for 2013, compared with a loss of GBP6.6 million in 2012, which included a write down and losses in respect of Carnegie Wave Energy Ltd of GBP4.8 million.
It said it also managed to narrow its losses on the back of lower administrative expenses during the year
The group is yet to generate any revenues.
Renewable Energy Holdings shares were untraded Wednesday, last quoted at 1.77 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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