LONDON (Alliance News) - Inspirit Energy Holdings PLC on Tuesday said its pretax loss narrowed in the first half of its financial year, as administrative expenses came in lower than they had a year earlier.
The company, which is developing a micro combined heat and power boiler, made a pretax loss of GBP334,000 for the six months to the end of December, compared to a GBP419,000 loss a year earlier. The loss the previous year was widened by higher administrative expenses.
Inspirit did not generate any revenue in the year, saying it had focused instead on sales and marketing over the period as part of the process of ensuring its distribution partners are in place ahead of the commercial launch of its microCHP boiler Inspirit Charger.
Inspirit said it looks to complete testing and field trail phases for its boiler in 2016, and move towards commercial production of Inspirit Charger by the end of the year.
Shares in Inspirit were flat at 0.540 pence on Tuesday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Inspirit Energy (INSP)