LONDON (Dow Jones)--Nviro Cleantech PLC (NVR.LN) announced Friday that it has identified specific market targets which it believes match technological strengths to current market needs, furthermore it has enforced extensive cost saving measures across the business. MAIN FACTS: -Carrying out an aggressive cost saving program which has reduced monthly operating costs by 50% to date and are now undertaking further actions to reduce costs. -Expects further external confirmation of testing results from independent laboratories shortly. -Pursuing ongoing discussions with potential strategic partners who can support the future development and resources required for growth of the business. -Has taken actions to reduce operational expenditure and stop capital spend while improving overall function. -Since the turn of the year substantial cuts have been made in staff, reducing their operating costs by 44%. Additional reductions in consultancy support and other costs have taken the overall run rate down to 50%. -Cash as at Apr. 30 was GBP5.3 million. -By London Bureau, Dow Jones Newswires; +44 (0)20 7842 9296; ian.walker@dowjones.com (END) Dow Jones Newswires May 15, 2009 07:42 ET (11:42 GMT)
i have ben watching this for some time, in fact have been in & out a few times. IMO it is an under valued share but if the market does retace, I think will will go with it. I'm out for the moment but if you fancy this stock it may be an idea to lump in with half your stake & if it goes south you could avarage down. All IMO of couse. GLA