Australian Renewable Fuels trims FY 2011/12 loss

Sep 3, 2012 - Biodiesel producer Australian Renewable Fuels Ltd (ASX:ARW) on Friday reported a preliminary net loss of AUD 7.2 million (USD 7.4m/EUR 6m) for its fiscal year to June 30, compared with a loss of AUD 8.1 million a year earlier.

Revenue from continuing operations jumped to AUD 38.3 million from AUD 6.4 million thanks to the acquisition of Biodiesel Producers Ltd (BPL) late in 2011. The latter's Barnawartha plant brought AUD 28.1 million of revenue.

Gross margin was 11.6%.

At the end of June, the company had total assets of AUD 46.1 million and total liabilities of AUD 36.7 million.

Recently, Canadian biorefining technologies firm Lignol Energy Corp (CVE:LEC) purchased an 11% stake in Australian Renewable Fuels from Australian energy projects developer Wasabi Energy Ltd (ASX:WAS).

(AUD 1 = USD 1.024/EUR 0.815)

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