Despite making progress in H1 (positive EBITDA, return to net cash, FY24 revenue forecasts fully covered by orders), Eneraqua’s half year update is dominated by the potential impact of the proposed changes to net nutrient neutrality rules announced by the UK Government yesterday. Whilst detail of the policy is currently vague, the net impact on PBT is expected to be c.£2m p.a. in the worst-case. The outcome could be more positive once detail of the policy is clarified but we take a prudent appro ....
