Dow Jones RNS Report28 Feb 2011 14:51
DJ Alternative Energy FY10 Loss Widens, Chairman, Raises Loan By $1M
LONDON (Dow Jones)--Alternative Energy Ltd. (ALR.LN), a Singapore-based company which mainly deals with household and industrial clean energy, Monday reported a slightly widened fiscal 2010 pretax loss and said that pending analysis of its funding requirements for growth Chairman, Christopher Nightingale, will continue to support the Company, and has increased his convertible loan to the Company by a further $1 million.
MAIN FACTS:
-Revenue for year ended Aug. 31, 2010 $658 (2009: -)
-Loss before tax $3.6 million (2009: loss $2.58 million)
-Company is now operational and will be seeking to capitalize on the key business drivers, which are the worldwide growth of energy consumption, the political support for green energy and climate change incentives which is now manifesting itself in increasing financial incentives around the world, and the volatility of fossil fuel prices, which make adoption of alternative energy and energy saving measures, the Company's core business, an imperative and not an option.
-Shares at 1430 GMT unchanged at 6 pence valuing the company at GBP83.8 million.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
(END) Dow Jones Newswires
February 28, 2011 09:33 ET (14:33 GMT)
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