Ceramic Fuel Cells Regulatory News (CFU)

10 Mar 2006 07:40

Ceramic Fuel Cells Limited10 March 2006 Ceramic Fuel Cells Ltd ASX Half-year Report Period ended 31 December 2005 Lodged with the ASX under Listing Rule 4.2A.3 Results for announcement to the marketHalf-year ended 31 December 2005(Previous corresponding period: Half-year ended 31 December 2004) Movement % $ Revenue from ordinary activities Up 34.6 to 529,585 Loss from ordinary activitiesafter tax attributable to members Up 2.1 to (8,687,031) Net Loss for the period attributable to members Up 2.1 to (8,687,031) Dividend type Amount per security Franked amount per security Final dividend None Not applicableInterim dividend None Not applicable No dividends were recommended, declared or paid during the period. The Directors do not propose to recommend the payment of a dividend in respectof the period. There is no dividend re-investment plan in operation. Brief Explanation of RevenueSales revenue of $272K from field trials and technology licensing compared to nosales in the previous corresponding period. Interest received on surplus fundsinvested was down 40% on the previous corresponding period due to decreased cashlevels over the current reporting period. Brief Explanation of Loss (and Net Loss)The net loss for the period attributable to members of $8,687K compares to a netloss in the previous corresponding period of $8,507K. The major reasons for the$180K increased loss were as follows: Finance Costs: $502K cost increase •Finance costs of $503K were incurred on convertible notes issued during the reporting period. No such costs were incurred in the previous corresponding period. Sales & Marketing: $229K cost increase •The company increased the level of resources devoted to business development with a strong focus on Europe. The company's U.K. subsidiary only operated for 4 months in the previous corresponding period. These cost increases were partially offset by reductions in both Research &Development (R&D) and General & Administration (G&A) costs. Net tangible asset backing 31 Dec 31 Dec 2005 2004 cents cents Net tangible asset backing per ordinary share 1.7 15.0 Control over other entities No control was gained or lost over any entity during the period. Associates and joint venture entities The company has no associates, nor has it formed any joint ventures with anyother entities during the period. Compliance statement This report is based on accounts which have been subject to review. This information is provided by RNS The company news service from the London Stock Exchange