UPDATE 1-D1 Oils H1 loss narrows, shares up
* H1 loss from cont ops 2.8 mln stg vs 5.7 mln stg loss
* Says Jatropha planting 220,000 hectares as at June 30
* Expects to be cash positive until end 2010
* Shares up as much as 13 percent (Adds details)
Sept 8 (Reuters) - British biofuels technology company D1 Oils Plc (DOO.L) posted a narrower first-half loss as it restructured and focused more on cultivation of its biodiesel crop, Jatropha, sending shares up almost 13 percent.
The company reiterated it would remain cash positive at least until the end of 2010. For the half-year ended June 30, the company reported a pretax loss from continuing operations of 2.8 miilion pounds ($4.58 million), compared with a loss of 5.7 million pounds a year earlier. Revenue fell to 1.5 million pounds from 2.2 million pounds.
"We will continue to focus on our use of cash across the Group, tightening our geographic focus and concentrating on investment in plant science and realising delivery of crude Jatropha oil and co-products from our existing planting," said CEO Ben Good in a statement.
D1 Oils said total planting of Jatropha, a non-edible crop being developed as a biodiesel source, was about 220,000 hectares as on June 30.
Shares of the company, which have lost 80 percent of their value in the last one year, were trading higher at 6.49 pence on Tuesday on the London Stock Exchange at 0712 GMT .
($1=.6118 Pound) (Reporting by Balachander Surianarayanan in Bangalore; Editing by Kavita Chandran Budhraja)
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