Aggregated Micro Power Holdings profits jump as revenue more than doubles
StockMarketWire.com - Heat, power and renewable fuels provider Aggregated Micro Power Holdings said annual pre-tax profits grew 78%.
For the year ended 31 March 2018, pre-tax profits grew 78% to £1.66m, revenues more than doubled to £43.2m from £19.7m the previous year and operating profit increased to £3m from £1.85m.
Gross profit increased to £9.5m for the year from £5.5m, while net profit rose to £1.9m from £1m.
The companyís wood fuels business delivered over 220,000 tonnes of RHI compliant wood pellet and wood chip to nearly 4,000 customers.
The company said a resolution passed on 11 April 2018 and approved by the High Court on 2 May 2018 for a capital reduction of the share premium account would enable dividends to be paid in due course. 'Our company continues to develop at a frenetic pace. The highlights of the year were the completion of two further acquisitions and an increase of circa 100% in both turnover and net profit. We are exceptionally busy and 2018 promises to be an equally exciting year,' Richard Burrell, Chief Executive of Aggregated Micro Power Holdings.
At 8:42am: (LON:AMPH) Aggregated Micro Power Holdings Plc share price was 0p at 105p
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