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Nature Group

  • BY: Andrew Hore |
  • POSTED: 18/07/2010 |

Nature Group says that first half revenues will increase from £2.7m to £3.9m in 2010 but gross margins will be lower. 

The ongoing development of a new port facility in Oman has hampered margins but this project should be ready to start later this year.

The Gibraltar wastewater treatment facility has increased revenues by 45% in the first half of 2010 thanks to the oil slops and wastewater transported from Malta and Ceuta on the North African coast. The Gibraltar government has given indicative approval for the facility to be expanded. There could also be an extension of the 17 year lease.

Delays in commissioning a treatment plant delivered to Kazakhstan and continuing discussions with a drilling fluids company have held back revenues in Norway. The focus has been on upgrading the offshore treatment unit technology.

The Gibraltar operations were fully consolidated in 2009. Nature reported a profit of £1.65m on revenues of £5.99m. Net cash was £1.04m at the end of 2009.

A maiden dividend of 0.6p a share was announced.

At 46p a share, Nature is valued at £18.1m. The share price has trebled over the past year.

See more quoted cleantech company news on www.quotedcleantech.com

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