GOE 0.00% 2.7¢ go energy group limited

half year results

  1. 7,391 Posts.
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    Latest results look promising compared to previous years.

    Results released after the close of market so we'll have to wait til tomorrow to see the market's view of the results.

    "Total revenue and other income for the six month period ending 31 December 07 was $7.1m compared to $5.7m for the corresponding six months ending 31 December 06 – an increase of 25%.

    An after tax loss of $240k was recorded which is 62% less than the loss for the corresponding period in 2006 of $631k.

    Included in this loss are abnormal expenses and adjustments to the amount of $194k that includes an employee share issue of $114k, a one off management expense of $60k and a further provision of $20k against a term deposit held for an underperforming international investment. Taking these abnormal adjustments into account, the operating business is now approaching break even.

    Work undertaken in the preceding periods is showing results with improved gross margins and increased sales activity across the company.

    The recent change in Government, with continuing commitments to "green" policy initiatives, signals a significant opportunity for the renewable energy industry."
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