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Hydrodec make a comeback in first half

Wed, 20th Jul 2016 15:28

(ShareCast News) - Hydrodec Group, a company which re-refines waste oil have announced record sales numbers for the first half of 2016, following on from their reported loss last year.The main drivers have been the firm's refocusing on core transformer oil re-refining technology by optimising the performance of its Canton facility.Sales volumes of premium quality superfine transformer oil and base oil increased by 16.75m litres. The most notable sales were in May 2.82m litres and June at a record number of 3.2m litres.Revenues from the group's core re-refining business for the first half were expected to increase by approximately 130% to $7.6m compared to $3.3m last year. Gross unit margins are also higher than the previous year despite lower product sales prices and challenging market conditions.The increase in sales was attributed to the firm's increased utilisation of its new Canton plant by 76%.Improvements have been made to the plant, which have reduced production hours lost through unscheduled stoppages. The firm also disposed on loss making UK recycling operations in March.Aside from these drivers, another objective was to improve the sales mix between higher margin transformer oil and lower margin base oil. At the beginning of the year, transformer oil sales represented 19% of total sales and since improvements have been made it represented 71% of sales.In terms of their Australian business, it enjoyed one of its highest feed-stock acquisition months since 2012 in May and its underlying pipeline is growing steadily.The firm have made significant reductions to corporate costs, the benefits of which the board feel will materialise by the second half of this year.The Board also does not see Brexit impacting this predicted improvement in performance, as its main operations are based in the US and Australia.Chief executive of Hydrodec, Chris Ellis, said: "Whilst market conditions remain challenging, we are focused on delivering our operational plans and also primed to take advantage of the opportunities the current market may yet present to grow the business both in our existing areas of focus and in new markets."Looking forward the firm hopes to continue to increase market share, strengthen margins and further reduce costs.Hydrodec's share price was up 21.17% at 4.15p on Wednesday at 1415 BST
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28 Jan 2014 10:50

DIRECTOR DEALINGS: Hydrodec Chairman Buys 200,000 Shares

LONDON (Alliance News) - Hydrodec Group PLC Tuesday said Chairman Colin Moynihan bought 200,000 shares at a price of 10.7 pence per share Monday. Following this transaction, Moynihan holds 9 million shares representing approximately 1.2% of the issued voting shares. Shares in the oil

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22 Jan 2014 13:43

UK MIDDAY BRIEFING: Jobless Rate Falls As UK Recovery Continues

LONDON (Alliance News) - The unemployment rate in the UK declined by more than expected in the three months to November 2013, leading to calls for renewed clarity around forward guidance from Bank of England Governor Mark Carney. Meanwhile, minutes from the BOE's latest Monetary Policy Committ

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22 Jan 2014 10:56

UK WINNERS & LOSERS: Sage Group Leads Blue-Chip Gainers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

Sage Group, up 4.9%. The business-management software company has reve

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22 Jan 2014 08:35

Hydrodec Says 2013 Revenues, Operating Profits To Rise Significantly

LONDON (Alliance News) - Hydrodec PLC Wednesday said it expects to report a 52% increase in revenues for 2013, and underlying earnings before interest, tax, depreciation and amortisation significantly above the figure for 2012. The clean technology oil re-refining company said It expects 20

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22 Jan 2014 08:30

HydroDec posts ninth year of revenue growth

HydroDec, a clean-tech industrial oil re-refining group, expects to post a 52 per cent jump in full year revenues, marking its ninth consecutive year of growth, it said Wednesday. The company said the increase, from $26.1m to $39.7m year-on-year, was driven by a 9% rise in its core re-refining bus

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22 Jan 2014 08:22

UK MORNING BRIEFING: Shares Gain At Open; Sage, JD Wetherspoon Positive

LONDON (Alliance News) - Shares are broadly higher Wednesday ahead of UK employment data and a Bank of England policy statement at 0930 GMT.

Prior to the open FTSE 100 software developer Sage Group and FTSE 250 pub chain JD Wetherspoon both have pro

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2 Dec 2013 11:57

STOCKS NEWS EUROPE-UK small caps steady into mid-session

The FTSE small cap index and junior-listed AIM shares are broadly flat into mid-session, outperforming falls of around 0.6 percent on both the mid-caps and the blue chips. Hydrodec drops 18.8 percent after the cleantech industrial oil re-refining group says that an incident at its re-refini

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2 Dec 2013 09:29

Hydrodec shuts US plant after fire

Oil recycling group Hydrodec has shut down a US refining plant after a fire, hitting its shares. Hydrodec, which re-refines used oil, said there had been an explosion and a blaze in the reactor building at its Canton site in Ohio. There were no reported casualties and the fire was put out in about

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8 Nov 2013 16:03

Carillion Finance Director lowers holding

Carillion's Group Finance Director, Richard Adam, on Thursday sold, on behalf of his wife, 40,000 shares. Each of these was sold for 309.04p, for a total trade value of £123,616. Adam's stake now stands at 118,238 shares. The disposal was made a week after the support services company announced

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21 Oct 2013 10:18

Hydrodec To Pay Off Debt After GBP20 Million Share Placing

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21 Oct 2013 07:54

STOCKS NEWS EUROPE-UK small caps rise 0.1 pct early on

UK small caps and junior-listed AIM shares gain 0.1 percent and 0.3 percent, respectively, outperforming a flat FTSE 100, while the mid-caps gain 0.4 percent. Hydrodec, the refiner of used transformer oil into new SUPERfine oil, falls 4 percent to 11.92 pence after announcing it has conditi

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24 Sep 2013 16:44

Regenersis CFO tops up stake as results impress

Jog Dhody, the Chief Financial Officer of Regenersis, on Tuesday acquired 39,000 ordinary shares in the outsourcing partner on the same day it posted "a strong financial performance and good growth" for the year ended June 30th. Dhody bought the shares a price of 255p per share, spending a total o

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24 Sep 2013 08:43

DIRECTOR DEALINGS: Hydrodec Non-Exec Buys 1.2 Million Shares

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9 Sep 2013 18:12

Hydrodec Chairman boost stake

The Chairman of Hydrodec, Lord Moynihan, on Friday bumped up his stake in the oil re-refining group with the purchase of 455,000 shares. The purchase was made the same day that the company announced its acquisition of OSS. The business, which is the UK's largest collector, consolidator and proce

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9 Sep 2013 07:12

DIRECTOR DEALINGS - Hydrodec Chairman Buys 455K Shares

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