Brief: Eneraqua Technologies PLC Says Notified By Two Local Authority Clients Of A Delay To Commencement Of A Group Of Major Energy Projects

Eneraqua Technologies

12/12/2023 13:46

Dec 12 (Reuters) - Eneraqua Technologies PLC  ETP.L :
    * NOTIFIED BY TWO LOCAL AUTHORITY CLIENTS OF A DELAY TO
COMMENCEMENT OF A GROUP OF MAJOR ENERGY PROJECTS
    * DEFERRED PROJECTS ARE NOW EXPECTED TO START IN FY25 AND
BOARD
HAS IDENTIFIED A NUMBER OF COST REDUCTION OPPORTUNITIES
    * COST REDUCTION OPPORTUNITIES WILL REDUCE OPERATING COSTS
BY
C£1.4M IN NEXT FINANCIAL YEAR
    * BOARD NOW EXPECTS TO REPORT RESULTS MATERIALLY BELOW
CURRENT
MARKET EXPECTATIONS WITH REVENUES OF C£55M IN FY24
    * SEES  FY24 ADJUSTED LOSS BEFORE TAX OF C£6M INCLUDING
REDUNDANCY
COSTS
    * YEAR-END CASH IS EXPECTED TO BE BROADLY IN-LINE WITH
EXPECTATIONS AT C£5.5M REPRESENTING A NET CASH POSITION OF
C£1.0M

Source text for Eikon:  ID:nRSL5231Wa 
Further company coverage:  ETP.L 

 ((Reuters.Briefs@thomsonreuters.com;))