2 September 2010

Renova makes interim £0.3m

24/11/2005 Robert Tyerman

Ethanol group Renova Energy is building its US production and distribution network after lifting first-half profits to £328,000.

AIM-quoted Renova is developing a system of production, distribution and marketing for ethanol to be blended with petrol in the American midwest, where it not only reduces carbon emissions but attracts tax breaks for Republican-voting farmers. The company, which floated in June at 69p, increased pre-tax profits 19 per cent to $479,000 pre-tax in the six months to September on turnover up eight per cent to $7 million.

More significant, however, for the company, which raised £1.7 million at 140p in September, are the steps it is taking to expand its plant capacity from five million gallons to 12 million gallons and expand its distribution network. Chairman Chris Thomas says the plant expansion at Torrington, Wyoming, should be completed by next June, while a feasibility study is underway into re-developing a disused ethanol facility at Heyburn, Idaho, into a 15 million gallon dry-corn processing plant.

At 152.5p, down 9p this morning, Renova shares have risen from 91.5p when Growth Company Investor first recommended them in August. Hold on.

Sector: Chemicals

Companies: Renova Energy

Subscribe today


More breaking news stories.
More extended feature articles.
And a depth of analysis you
can't find anywhere else.

Subscribe today and save 50%

VCT Report 2010

VCT Report 2010 uncovers the money available

for investment in every single VCT, helping you get one step ahead in the race to attract funding for your unquoted, AIM-listed or PLUS-quoted

company.

Order VCT Report 2010 today using this online form

Cash Shells Directory 2010

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape. For more information and to order, click here or contact our marketing team on 020 7250 7056.

Coverage of AIM, techMARK and PLUS Markets

Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.

Take control of your investments

A full year's subscription to What Investment magazine for £19.95, a whopping 58% off. Get the latest news, features and expert advice on ISAs, Investment Trusts and Funds, SIPPS, Investing for Children and much much
more. Find out more here.

The Financial Times Guide to Personal Tax

is the definitive and most up-to-date guide to completing your self-assessment tax return, making sure that you get it right and on time, and showing how you can save tax. For more information and to order, click here or contact our marketing team on 020 7250 7056.

The AIM Guide Spring 2010

The new, fully updated AIM Guide is now available to buy for only £49.95 (saving you £30).

A 'must-have' for any serious investor or professional interested in the market for young, fast-growing companies. Order your copy today Hurry, as offer ends soon!

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Anglo Asian into profit 02/09/2010

Central Asian gold producer Anglo Asian Mining has turned a $2 million (£1.28 million) interim loss into $6.2 million first-half pre-tax profits.

Tags: AIM , Commodities , Emerging markets , Turnaround

Sector: Mining

Companies: Anglo Asian Mining

Interim advance at Abbey Protection 02/09/2010

Legal fees and related insurance and services specialist Abbey Protection has increased first-half pre-tax profits 9.3 per cent to £4.7 million.

Tags: AIM , Growth Stocks , Mergers & acquisitions

Sector: Nonlife Insurance

Companies: Abbey Protection

Johnson Service on the prowl 01/09/2010

Workwear rental and facilities management concern Johnson Service Group is feeling acquisitive after losing a first-half £2.2 million pre-tax.

Tags: Deals & contracts , Mergers & acquisitions , Turnaround

Sector: Support Services

Companies: Johnson Service

More News

Sectors

Vitesse Media Events