18/10/2007
After making an annual £152 million pre-tax, Trading Emissions expects to deliver a 66 million carbon-credits portfolio by 2012.
The Isle of Man-based company, which invests in carbon credits and other 'emission instruments' as well as taking direct stakes in alternative energy sources, reports total investment income of £190 million for the year to June. Floated on AIM in April 2005, Trading Emissions has now delivered 1.2 million carbon credits and contracted another 50.3 million.
Chairman Neil Eckert says the company is now 'on target' to complete contracts for carbon purchase and acquisition 'sufficient to deliver a portfolio of 66 million carbon credits between 2008 and 2012'. Trading Emissions, which expects the conversion of previously issued 'C' shares to ordinary shares to be completed next month, took a majority stake in Korat Waste to Energy, a Thai cassava processor that boasts one of Asia's largest biogas plants.
Originally floated at 100p, Trading Emission shares hit 195p last year and now trade at 163p, up 9p this morning, valuing the company at £220 million. They could be worth a medium to long-term punt.
Save 50% on your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.
Related Articles:
|
| 16/05/2008
|
| 15/05/2008
|
| 06/05/2008
|
| 02/05/2008
|
| 01/05/2008
|
People who read this article also read ...
|
| 22/10/2007
|
| 19/10/2007
|
| 30/07/2007
|
| 15/05/2006
|
| 13/03/2006
|
| AIM | £389.15m |
139.00p
|
0.00p
|
|
| Other company articles: |
| 29/10/2007 |
| 18/10/2007 |
| 15/05/2006 |
| 12/05/2006 |
| 13/03/2006 |
Find UK Company Formation Services at Ask.com
Browse a wide range of company formation providers and find a quick, efficient and professional service in moments. Whatever you're looking for find it at Ask.com.
