Oxford Catalysts' net loss widens in H1 2012

Sep 21, 2012 - British clean synthetic fuel technologies company Oxford Catalysts Group (LON:OCG) today said its first-half net loss expanded to GBP 4.9 million (USD 8m/EUR 6.1m) from GBP 3.8 million a year earlier.

The loss per share widened to GBP 0.054 from GBP 0.0486 and the operating loss -- to GBP 5.1 million from GBP 4.26 million as total administrative costs and costs of sales increased.

Revenue grew to GBP 3.6 million from GBP 2.9 million a year earlier, mainly on the back of development funding from the company's partners and some government grants, Oxford Catalysts said.

Net cash used in operations as of June 30, 2012, stood at GBP 4.3 million, compared to GBP 4.2 million a year ago.

During the reported period, the company switched on its commercial-scale Fischer-Tropsch reactor for distributed production of synthetic oil at a customer site in Austria. Oxford Catalysts also deployed its technology at a Calumet Specialty Products Partners (NASDAQ:CLMT) commercial gas-to-liquids plant, at Solena Fuels Corp's GreenSky London waste-to-biomass jet fuel commercial plant in cooperation with British Airways (LON:BAY), at a small-scale gas-to-liquids plant of Russia's Rosneft (MCX:ROSN), and at a California Energy Commission-funded synthetic fuels demonstration plant.

(GBP 1 = USD 1.626/EUR 1.251)

Choose your newsletter by Renewables Now. Join for free!