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LONDON (Alliance News) - Active Energy PLC reported a drop in revenues, and widened its losses in the first half of the year.
The pan-European supplier of high quality wood chip and associated timber products, reported revenues of GBP105.5 million in the six months to June 30, compared with revenues of GBP219.7 million a year earlier.
Its pretax loss widened to GBP635,000, from GBP314,000 a year earlier.
Active Energy said that during the period it acquired Ukrainian exporter of high quality wood chip, Nikofeso Holdings Limited in a share-for-share transaction valued at up to GBP3.75 million.
It also said that it signed an agreement with Biomasse Italia SpA to supply at least 240,000 metric tonnes of wood chip over two years beginning January 2014
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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