SIMEC Atlantis has posted a £4.5m profit reflecting the development fees received on the Uskmouth battery project. A return to better operations at MeyGen could help the second half and further out options in batteries could create useful income. The balance sheet remains weak although deferral of the Abundance bonds has removed immediate pressure. There is work to do but the interims show that the company has put itself in a stronger position in our view.
27 Sep 2023
SIMEC Atlantis - Interims Show a Profit
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SIMEC Atlantis - Interims Show a Profit
SIMEC Atlantis Energy Ltd. (SAE:LON) | 0.8 0 0.0% | Mkt Cap: 5.78m
- Published:
27 Sep 2023 -
Author:
Adam Forsyth -
Pages:
3
SIMEC Atlantis has posted a £4.5m profit reflecting the development fees received on the Uskmouth battery project. A return to better operations at MeyGen could help the second half and further out options in batteries could create useful income. The balance sheet remains weak although deferral of the Abundance bonds has removed immediate pressure. There is work to do but the interims show that the company has put itself in a stronger position in our view.