Helius reports annual loss
BIOMASS power firm Helius Energy slipped into the red to the tune of £3.97m after making a profit the previous year.
The Teesside business, which is listed on the AIM, made a pre-tax profit of £30.67m in 2008 and also announced an operating loss of £4.64m for the year to the end of September 2009, slipping from a £31.34m profit 12 months earlier.
The company said it had invested £2.8m into its current projects, which include plans for a 100mWe power plant in Avonmouth and a biomass plant in Morayshire.
Helius said it had also made progress in its negotiations to secure sites for a number of large projects it was planning.
Chief executive, Adrian Bowles, said: “Over the period since our admission to AIM, Helius has demonstrated the ability to identify, develop and implement multiple biomass energy projects.
“Helius’ strategy remains one of focusing on delivering projects to financial closure, and managing their implementation and operation.”
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