Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Active Energy Group PLC upbeat despite growing pains

The WoodFibre arm remains profitable, AEG confirmed, as it finished the final quarter of last year producing 27,000 tonnes of wood chip a month for the MDF market and maintained its margins.
Active Energy Group PLC upbeat despite growing pains
The wood fibre business will book a profit.

Active Energy Group PLC (LON:AEG), the owner of wood fibre, forestry and coal replacement assets, remained upbeat despite confirming its operating losses had widened marginally in 2015.

The guidance added some granularity to a statement issued on December 7 and charted the growing pains of a company making substantial progress on three fronts.

The WoodFibre arm remains profitable, AEG confirmed, as it finished the final quarter of last year producing 27,000 tonnes of wood chip a month for the MDF market and maintained its margins.

The firm said 2016 started well, although output has been hampered slightly the weather. The completion of a softwood production line should occur on schedule sometime in the second quarter. This will help ramp up output.

AEG confirmed the joint venture between its Timberlands arm and the Métis Settlement group in Canada had been “postponed beyond the first quarter” of this year.

The US$600,000 expenditure incurred during negotiations that was to be capitalised will now be charged to the profit and loss account, the firm said.

AEG also revealed it invested US$300,000 successfully testing its CoalSwitch technology – money it reckons was very well spent.

Boss Richard Spinks said: “Although the board is disappointed that it will be reporting losses for the Group for the full year, we remain very excited by the potential of AEG TimberLands and, particularly at the present time, AEG CoalSwitch.”

Ian_55ae0ddd437b7.jpg
Why Invest In Active Energy Group PLC? Read More Here

Register here to be notified of future AEG Company articles
View full AEG profile View Profile

Active Energy Group PLC Timeline

Related Articles

Egyptian pyramids
June 01 2017
The AIM-listed group transformed itself at the start of the year with the US$30mln acquisition of the Egyptian and Moroccan assets of failed fellow AIM firm Circle Oil
picture of gas facility
February 03 2017
GDC is currently the only supplier of natural gas to Douala, Cameroon’s rapidly growing second city
onshore oil rig silhouette
June 13 2017
At the end of May 496 barrels of oil was collected and sold from the project, meaning Mosman is no longer just an explorer

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use