LONDON (Alliance News) - Proton Power Systems PLC on Wednesday reported a narrowed interim loss on reduced cost of sales.
In the six months ended June, the designer, developer and producer of fuel cells and fuel cell electric hybrid systems narrowed its operating loss GBP2.2 million from GBP2.5 million.
Proton Power System's revenue decreased 20% to GBP506,000 from GBP634,000, while the cost of sales halved to GBP490,000 from GBP977,000.
Looking ahead, the company said has initiated a program to ramp up manufacturing capabilities to produce a further 5,000 fuel cells a year by the end of 2018.
Shares in Proton Power Systems were untraded at 5.0p each on Wednesday.