Partner Article

Helius slips into the red

Green power firm Helius Energy has slumped to a £3.97m loss, just 12 months after being over £30m in the black.

However, the AIM-listed Teesside company, which was set up to operate biomass-fired power plant, said it had made progress in negotiating sites for future large projects.

In the year to September 2009, the firm fell £3.97m in the red – before tax - on the back of a pretax profit £30.67 in the same period the previous year.

The group said its corporate overheads and development were in line with its budget, while its net cash balance stands at £14.73m.

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.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .