Edition:
United States

Renergen says ‍H1 revenue rises to 1.4 mln rand


Tuesday, 31 Oct 2017 06:30am EDT 

Oct 31 (Reuters) - Renergen Ltd :‍H1 REVENUE INCREASED BY 179% TO 1.4 MILLION​ RAND.‍COMMENCE CONSTRUCTION OF NATURAL GAS LIQUEFIERS IN EARLY 2018​.DO NOT EXPECT TO BE NET CASH FLOW GENERATIVE UNTIL PLANT GOES INTO FULL SCALE PRODUCTION IN 2019​.HY ‍OPERATING EXPENDITURE INCREASED BY 77% TO R16.7M (H1 2016: R9.4M)​.‍PRODUCTION OF LIQUEFIED NATURAL GAS (LNG) TO COMMENCE EARLY 2019​.HY ‍COST OF SALES INCREASED BY 381% TO R1.9M (H1 2016: R0.4M) MAINLY AS A RESULT OF INCORPORATION OF DEPRECIATION OF PILOT PLANT​.NOT TO CONTINUE FUNDING IVORY COAST HYDRO-ELECTRIC PROJECTS, WILL CONCENTRATE EXCLUSIVELY ON SOUTH AFRICAN NATURAL GAS MARKET FOR TIME BEING​.H1 BASIC AND DILUTED HEADLINE LOSS PER SHARE 21.15​ CENTS. 

Company Quote

1050.0
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11 Dec 2017