* H1 net loss before impairments 6.6 million euros
* Sees issuances increasing in H2
LONDON, Sept 29 Carbon offset aggregator Camco
International CAMIN.L narrowed its first-half net loss before
impairments and said while it was seeing signs of recovery in
key markets, it still expected a full-year loss.
"Through the remainder of 2009 a number of carbon projects
are expected to pass important hurdles in the regulatory process
further reducing the risk of the portfolio," Camco said on
Tuesday, adding issuances were expected to increase through the
Camco invests in green projects under the Kyoto clean
development mechanism, in return receiving offsets called
certified emissions reductions (CERs) that can be sold for
profit. It is currently awaiting the outcome of United Nations
climate talks in Copenhagen in December.
The company had first-half sales of 5.3 million euros ($7.8
million), down from 8.9 million a year ago, while its net loss
after tax and excluding impairments narrowed to 6.6 million from
After write-downs of 11.7 million euros relating to its
acquisition of ESD partners in 2007, its overall loss for the
period to June 30 came in at 18.3 million.
Camco shares closed on Monday at 30 pence, valuing it at
about 52 million pounds ($82.6 million).
(Reporting by Victoria Bryan; Editing by Dan Lalor)
($1 = 0.6822 euro = 0.6298 pound)