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Key Financials

Results for the period ended 31 December 2012

The Company has benefited from a strong performance from the flagship Dual-Fuel™ division during this financial year which saw group revenues increase to £7.94m (2011: £4.59m).

The gross profit margin for the Group remained strong at 44% (2011: 56%), despite a change in sales mix.

Gross profit increased to £3.52m (2011: £2.56m) following strong performance from the flagship Dual-Fuel™ division.

Operating losses for the year reduced to £2.22m (2011: £2.24m).

Loss per share reduced to 1.53p (2011: 2.13p), following the issue of new capital.

Cash on hand at 31 December 2012 was £3.20m (2011: £2.42m).  This reflects proceeds of the Placing of new ordinary shares in October which raised approximately £3.35m before expenses.

 

Financial Highlights

  • Group revenue increased by 73% to £7.94m, (2011: £4.59m)
  • Revenue from Dual-Fuel™ division increased by 101% to £6.64m, (2011: £3.30m)
  • Gross profit increased to £3.52m (2011: £2.56m), driven by Dual-Fuel™ systems and development revenue
  • £3.20m of cash at 31 December 2012, (2011: £2.42m)
  • £3.35m (before expenses) successfully raised through equity issue in September 2012