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Bioganix

  • BY: Andrew Hore |
  • POSTED: 26/09/2008 |

Both turnover and losses were slightly higher in the first half at Bioganix.

The waste treatment plant operator had already warned that the figures would be disappointing and it is in talks with a potential bidder.

Turnover improved from £1.01m to £1.11m in the six months to June 2008. The loss edged up from £513,000 to £592,000 with higher energy prices increasing operating costs.

Bioganix operates from two sites; Parham and Sharpness. Waste volumes processed at these sites are not growing as fast as expected.

The original pilot plant at Wharton is being dismantled and the waste handled at Sharpness. 

Bioganix is talking to its bank about additional cash but it feels that it has enough funds for its immediate needs.

The Bioganix share price recovered 0.5p to 36.5p, which values the company at £2.96m.

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