Ceramic Fuel Cells confident of progress despite wider losses
Thursday, August 28, 2008
Pre-tax losses at Ceramic Fuel Cells increased by £1.8 million to £11.1 million last year after the company was hit by a non-cash impairment charge and staff option expenses.
Despite the profit slip, sales at the company, which is developing high efficiency and low emission microgeneration products for homes, rose 42% to £0.3 million in the year to June 30 2008. It was boosted by several customer and manufacturing developments including its first volume order in February this year from Nuon.
In May this year the company raised £7 million in a share placing.
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