MCC Energy Plc
(“MCC Energy” or “the Company”)
Interim results for the 6 months ended 30th June 2005
MCC Energy plc (AIM:MCCE) today announces
unaudited interim results for the six months ended 30th
June 2005.
Highlights
Operational
• Successful admission to trading
on AIM in February raising £3m
• Acquisition of Navitas Technologies - the first
step in our battery efficiency roll up
• Investment in DynaMotive Energy Systems - the
first of our bioenergy investments
• Investment in Tang Group - a window to China
and to Asian renewable projects
• A growing pipeline of strategic and project
investments under negotiation
• Nurtured and added to our sweat equity positions
• Advisory activity sustained including repeat
assignment with Minnesota Power
• Proposed change of name to Tersus Energy Plc
Financial
• Revenue of £1.263m for
the first half (2004 half year: £0.108m; full
year: £1.655m)
• Pre-tax loss of £0.306m (2004 half year:
£1.212m; full year: £1.448m)
• Net Assets of £2.137m (2004 half year:
£0.010m; full year: £0.133m)
John Devaney, Non-Executive
Chairman of MCC Energy plc, said:
“We are pleased to announce
our first set of financial results since we began trading
on AIM in February. We have had a busy first six months
across both our advisory and strategic investment businesses.
Since listing, we have acquired Navitas Technologies,
a battery efficiency technology platform, and most recently
we have invested in DynaMotive, a Canadian biofuel company,
and Tang Group, a Dallas and Beijing based technology
developer.
“The market for new investments
is strong with high oil and gas prices and the continued
focus on energy generation and supply. We are making
significant progress in negotiating further investments
across a number of platforms in the energy efficiency
and alternative/renewable energy sectors.”
please
click here for the full interim report
For further information please
contact:
MCC Energy Plc
Steve Levine, Chief Executive Officer
+1 978 635 0997
David Wilson, Finance Director
+44 20 7408 5416 / +44 7831 818 121
M Communications
Nick Fox
+44 20 7153 1540 / +44 7711 727 618
|