Ceres Power Holdings Plc expects 20-25% revenue growth for the 12 months ended 30 June 2020

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Ceres Power Holdings Plc expects 20-25% revenue growth for the 12 months ended 30 June 2020

Ceres Power Holdings Plc (LON: CWR) has released a trading update of its interim results for the 12 months ended 30 June 2020.

  • The company is expecting the Revenue and other operating income for the reported period to be around £20 million, 20-25 per cent higher than the previous 12-month period.
  • The company has stated that it is now investing in higher power applications and further development in electrolysis from the £49 million gross equity proceeds from the Bosch and Weichai subscriptions.
  • As at 30 June 2020, the company’s cash and short-term investments stood at around £108 million.
  • On 9th July 2020, at the time of writing, GMT 13:57 PM, CWR shares were trading at GBX 631.00, up by 36.00 points or 6.05% against the previous day closing price.

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