LONDON (Alliance News) - Inspirit Energy Holdings PLC on Thursday said its pretax loss narrowed in the year to the end of June due to impairment charges booked a year earlier not repeating.
The company, which is developing a micro combined heat and power boiler, made a pretax loss of GBP779,000 for the year to June 30, compared to a GBP1.4 million loss a year earlier. The loss the previous year was swelled by the group booking a GBP663,000 one-off charge against goodwill.
Inspirit did not generate any revenue in the year, but said it signed several key agreements for the future installation of test versions of its boiler.
Inspirit said the progress made over the course of the year was positive, and it expects to make more progress in the current financial year as it moves towards commercialising its technology.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Inspirit Energy (INSP)