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Aggregated Micro Power ups revenue forecast by a third after cold blast

Recent positive trading during this winter season was cited as the reason
snow
Snow means more heating

Aggregated Micro Power Holdings plc (LON:AMPH) saw its shares rise 2.5% higher on Tuesday after it said revenue this year will be £40mln, a third higher than previously forecast.

Recent positive trading during this winter season was cited as the reason for the uplift in sales, with fuel demand likely to have risen steeply with the recent UK cold snaps. 

READ: Aggregated Micro Power eyeing dividend payments as it proposes capital reduction

The business sells wood fuel and pellets for domestic use and commercial-size biomass-fuelled boilers in schools, care homes and business parks.

AMPH added the results to March will also include one-costs related to the acquisition of Billingtons and CPL Distribution over the past year. 

Richard Burrell, AMP’s chief executive, said: “Our business continues to grow and the restructuring of our fuels business under the Forest Fuels brand should provide us with a strong platform for future growth in 2018 and beyond."

In mid-morning trading, Aggregated Micro Power shares were up 2.5% at 102.5p.

 -- Adds share price --

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