29 August 2015

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.

Superb investment toolkit for private investors

SharePad is the new web-based service from ShareScope. Easier to use and more powerful. Perfect for tablets, Macs and Windows PC. Covers ALL your investment requirements.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2015

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1000+ AIM-quoted companies. The full report is available to order for £385 + VAT. Click here for more info

 

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

Casino gaming has been changed by new technology

Technology is changing the face of the casino  18/08/2015

Technological innovations have seriously helped reshape the way in which we interact with the world and the people around us. And the smartphone has become a one-stop device for communication, travel, online browsing, taking photos, watching videos and even high-definition gaming.

Nominations open for the Grant Thornton Quoted Company Awards 2016 18/08/2015

Nominations are now open for all categories in the Quoted Company Awards, to be held on 27 January at the Natural History Museum in London. 

Empiric Student Property makes £8.1 million investment  17/08/2015

Empiric Student Property has confirmed to the market an investment of £8.1 million in a complex of 132 purpose-built student apartments in Falmouth, Cornwall. 

Satellite Solutions Worldwide makes French acquisition  17/08/2015

AIM-listed Satellite Solutions Worldwide has announced the purchase out of administration of French broadband provider Sat2Way. 

Venn Life Sciences shares gain ground in wake of positive trading update  13/08/2015

Shares in clinical research organisation Venn Life Sciences are up around 5 per cent at the time of writing following the company's positive trading update ahead of its results announcement for the first half of the year on 22 September.

VPC Specialty Lending declares maiden dividend  13/08/2015

A dividend of 0.9p per share will be paid by VPC Specialty Lending for the period from its incorporation to 30 June 2015.

More News