4 March 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.

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

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

Kefi is one of the few foreign gold miners in Saudi Arabia

Kefi on track to raise £4.9m 26/02/2015

Saudi Arabian gold explorer Kefi Minerals (AIM:KEFI) is on track to raise the third tranche of a total of £4.9 million. 

Tags: Mining

Rare Earth update on Germany 26/02/2015

Rare Earth Minerals (AIM:REM) updated investors on the progress of the Western Lithium USA Corporation.

Tags: Mining

UK Oil & Gast takes Markwells stake 26/02/2015

British explorer UK Oil & Gas (AIM:UKOG) has acquired the remaining stake of a licence. 

Tags: Oil and gas

Charles Taylor grabs Strike Club 26/02/2015

Insurance play Charles Taylor (AIM:CTR) has acquired Bermuda-based shipping insurer The Strike Club. 

Digital takes hit 26/02/2015

Surveillance specialist Digital Barriers (AIM:DGB) has disappointed investors. 

Tags: Technology

APR going well in Oz 13/02/2015

Australian power company APR Energy (LSE:APR) has commissioned a new gas plant.

Tags: Australia

More News