Run of River Power deepens net loss in Q3 2010 on maintenance expenses
(ADPnews) - Nov 26, 2010 - Canadian Run of River Power Inc (CVE:ROR) posted a third-quarter net loss of CAD 678,600 (USD 666,000/EUR 502,500), widening from CAD 418,000 a year ago, due to major maintenance costs at its Brandywine facility and high administrative expenses.
Loss before interest, tax, depreciation and amortisation widened to CAD 317,000 from CAD 74,000, the hydro and biomass projects developer said on Thursday.
Electricity sales for the period grew by 61% on the year to CAD 698,600, due to a 60% rise in electricity production to 11,931 MWh, driven by an increase in water flows and improved performance at the Brandywine Creek facility.
Run of River Power saw its net loss deepen to CAD 2.1 million during the nine months to September 30 from CAD 1.48 million a year earlier. Electricity sales grew 34% year-on-year to CAD 1.47 million.