By BFN News | 10:43 AM | Monday 01 December, 2014
Losses after tax at Intelligent Energy Holdings for the year ended September 30 2014 were £48.2m, more than double the loss of £20.8m in the previous year. Revenue was down to £13.6m from £20.8m. The company completed its Initial Public Offering on the main market of the London Stock Exchange in July and ended the year with a strong balance sheet, including a cash balance of £88.9m and no debt. Dr. Henri Winand, chief executive officer of Intelligent Energy Holdings, commented: "This was a truly transformational year for Intelligent Energy. The second half of the year in particular saw strong revenue growth and we have started the new financial year with good momentum. "We have a strong, debt-free balance sheet plus the resources to pursue large-scale business opportunities. "The two new divisions that we launched during the second half of the year, consumer electronics and distributed power and generation, have enjoyed initial successes". He added: "We are confident that these exciting operational developments, together with the past and current investments that we have made in our two new divisions, will result in strong year-on-year revenue growth and the narrowing of losses in the year ahead." At 10:43am: (LON:IEH) Intelligent Energy Holdings Plc Ord 5p wi share price was -6p at 203p Story provided by StockMarketWire.
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