IN BRIEF: EQTEC Loss Narrows Despite Revenue Falling By More Than Half

EQTEC PLC - waste-to-energy project developer based in London - Pretax loss in six months ended ...

Alliance News 28 September, 2020 | 11:46AM
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EQTEC PLC - waste-to-energy project developer based in London - Pretax loss in six months ended June 30 narrowed to EUR1.8 million from EUR2.0 million. Revenue down 51% to EUR770,308 from EUR1.6 million a year earlier. Posts EUR74,470 foreign currency gain, compared to EUR95,267 loss a year earlier. "We expect strong pipeline growth to continue through H2 and our partner portfolio approach to continue bearing fruit. However, we are starting to experience some delays in closing deals on account of banks and government institutions continuing to grapple with the impacts of Covid-19," Chief Executive Officer David Palumbo said.

Current stock price: 0.45 pence

Year-to-date change: up more than double from 0.12p

By Eric Cunha; ericcunha@alliancenews.com

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