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Year End Trading Update

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RNS Number : 7488P
Aggregated Micro Power Holdings PLC
31 May 2018
 

Aggregated Micro Power Holdings plc

("AMP", the "Company" or the "Group")

 

Year End Trading Update

 

Aggregated Micro Power Holdings plc (AIM: AMPH), the specialist provider of distributed heat, power and renewable fuels, is pleased to announce a further positive trading update for the year ended 31 March 2018.

 

The Company now expects to report revenues in excess of £42m, being ahead of AMP's previous guidance to the market.

 

The Company expects to report profit before tax of approximately £1.8m, being ahead of the prior year, benefiting from the significant fair value adjustment on the Company's investment in Incubex, and also including the effect of the fuels business restructuring, certain non-recurring expenses and fair value adjustments to share options and deferred consideration.

 

Richard Burrell, Chief Executive of Aggregated Micro Power Holdings plc, said:

 

"I am pleased to report an uplift in full year revenues and profits.  We have seen a significant expansion of our operations in 2017 and 2018 and we look forward to further progress across our Biomass Heat Business, our Projects Business and from our Investments in the new financial year."

 

The Company expects to report its final results, including FY19 current trading and outlook, by the end of July 2018 at the latest.

 

 

Enquiries:

 

Aggregated Micro Power Holdings plc                                                            Tel: 020 7382 7800

Neil Eckert, Executive Chairman

Richard Burrell, CEO

 

finnCap Ltd (NOMAD & Broker)                                                                       Tel: 020 7220 0500

Ed Frisby/Simon Hicks (corporate finance)

Stephen Norcross (sales)

 

Haggie Partners (Financial PR)                                                                           Tel: 020 7562 4444

Peter Rigby

 

 

Notes to Editors:

About Aggregated Micro Power Holdings plc

 

The AMP Group was established to develop, own and operate renewable energy generating facilities. It specialises in the sale of wood fuels and in the installation of distributed energy projects. AMP's wholly owned subsidiary Forest Fuels sells high quality wood chip and wood pellet to end customers throughout the UK, while its projects division installs biomass boiler and biomass CHP systems for a wide range of applications and customers. AMP is also active in developing projects for stand-by power generation which aim to balance the transmission grid at times of peak demand.

 

www.ampplc.co.uk

 

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Aggregated Micro Power Holdings PLC

Price: 71

Market: AIM
Market Cap: £45.01 m
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