Alkane Energy's biogas business revenue grows in H1 2012
Sep 13, 2012 - UK power producer Alkane Energy (LON:ALK) yesterday posted first-half revenues of GBP 801,000 (USD 1.3m/EUR 1m) from its biogas project operations, compared with GBP 698,000 a year before.
Pretax loss from the segment expanded to GBP 287,000 from GBP 97,000.
The company, which is mainly focused on the extraction of gas for power generation, recently expanded to the biogas power sector. In the first half of this year it began work on its second design-build-operate contract to supply power equipment to an anaerobic digestion biogas project.
Alkane's consolidated revenue inched by 6% on the year to GBP 5.3 million, mainly as a result of increased selling prices in the period. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew to GBP 2.1 million from GBP 1.9 million, while net profit rose to GBP 1.1 million from GBP 939,000.