Partner Article

Helius slips to loss

BIOMASS power company Helius Energy – which recently shifted its headquarters from Teesside to London in a bid to attract more investment – has suffered a half-year net loss of £600,000.

The company was initially set up in Middlesbrough in 2004 to install and operate biomass-fired renewable electricity generation plants.

In the six months ending 31 March the company had a cash balance of £12.8m compared to £16.8m last year.

Net assets stood at £30m, down £4m from the corresponding period last year. It slipped to a net loss of £600,000 during the period, compared to an £18k profit in the first half of 2009.

However the company said it has secured consent for a new 100MWe biomass power plant in Avonmouth and expects to announce a further scheme later this year.

“The Board is pleased with the progress achieved in the last six months, both visibly in respect of the Avonmouth project, and in respect of progress on potential future sites, and continues to look forward with confidence,” said chairman Keith Henry.

AIM-listed Helius registering its head office in London last summer to help attract investment.

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