23 April 2014

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.

The Share Centre:

Cheaper fund investing has arrived at The Share Centre.
We don't believe it's fair to charge you extra just for holding funds.
So we don't. Find out more.
Capital at risk.

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 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Cash Shells 2013

This annual guide provides a comprehensive overview of cash shells on the Main Market, AIM and PLUS landscape. The guide is available to order in PDF format for £350 (+VAT). 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

Blur made considerable progress over the period

All a Blur 17/04/2014

Online exchange developer Blur Group (AIM:BLUR) has released its Q1 metrics

Caza busy at West Copperline 17/04/2014

US explorer Caza Oil & Gas (AIM:CAZA) announced strong results from its wells in New Mexico.

Tags: Oil and gas

RPS gets clear 10/04/2014

Environmental specialist RPS Group (LSE:RPC) has purchased Clear Environmental Consultants in a deal worth £8.3 million.

Tags: Clean energy

Motive moving on tablet 10/04/2014

Television technology specialist Motive Television (AIM:MTV) has signed a deal to  stream Freeview on tablet computers.

Tags: Technology

Quindell wins Zurich Canada contract 08/04/2014

Insurance services outsourcing specialist Quindell (AIM:QPP) has won a contract with Zurich Canada.

Tags: Canada, Contract wins

Falkland pushing ahead 08/04/2014

Business group Falkland Islands Holdings (AIM:FIH) reported on a strong second half.

Tags: Falklands, Support services

More News