Aggregated Micro Power Holdings PLC Trading Update (2102I)
March 20 2018 - 3:00AM
UK Regulatory
TIDMAMPH
RNS Number : 2102I
Aggregated Micro Power Holdings PLC
20 March 2018
Aggregated Micro Power Holdings plc
("AMP", the "AMP Group" or the "Company")
Trading Update
Aggregated Micro Power Holdings plc (AIM: AMPH), a distributed
energy company specialising in the sale of wood fuels and the
financing and installation of distributed energy projects including
biomass boiler ESCOs (Energy Supply Contracts) and stand by power
generation, is pleased to announce a positive trading update with
respect to the twelve months ending 31 March 2018.
Revenues
The Company has previously issued guidance on AMP Group revenues
being in excess of GBP30m for the twelve months to 31 March 2018.
Recent positive trading during this winter season has now caused us
to revise this guidance to circa GBP40m of revenues for the twelve
month period. Further guidance will be given when we issue a
pre-close trading statement during May 2018.
Fuels Business Restructuring
Following the acquisition of Billington Bioenergy Limited and
the customer base and wood pellet assets of CPL Distribution
Limited, it is now intended that these will be fully integrated
into Forest Fuels on 1 April 2018. There will be some non-recurring
costs relating to the re-branding, asset write-offs, some internal
management changes and various depot closures which will take
effect from 1 April 2018. In accordance with generally accepted
accounting principles and practice, we will recognise the
integration and restructuring costs as non-recurring items in our
year end accounts in respect of the twelve month period to 31 March
2018, where permitted.
Richard Burrell, Chief Executive of Aggregated Micro Power
Holdings plc, said:
"I am pleased to report an uplift in our target for full year
revenues. Our business continues to grow and the restructuring of
our fuels business under the Forest Fuels brand should provide us
with a strong platform for future growth in 2018 and beyond."
Contacts
Aggregated Micro Power Holdings plc 020 7382 7800
Neil Eckert, Executive Chairman
Richard Burrell, CEO
Helene Crook, Investor Relations
Haggie Partners 020 7562 4444
Peter Rigby / Brian Norris
finnCap Ltd 020 7220 0500
Ed Frisby / Simon Hicks (Corporate Finance)
Stephen Norcross / Sultan Awan (Corporate Broking)
About Aggregated Micro Power Holdings plc
The AMP Group was established to develop, own and operate
renewable energy generating facilities. It specialises in the sale
of wood fuels and in the installation of distributed energy
projects. AMP's wholly owned subsidiary Forest Fuels sells high
quality wood chip and wood pellet to end customers throughout the
UK, while its projects division installs biomass boiler and biomass
CHP systems for a wide range of applications and customers. AMP is
also active in developing projects for stand-by power generation
which aim to balance the transmission grid at times of peak
demand.
www.ampplc.co.uk
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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