NTR considers partial flotation

THE prospect of renewable energy and waste management group NTR raising funds by floating part of its business could become a reality in mid-2011.

Management has mentioned the possibility of this before but has always stressed that floating one or more of its subsidiary companies, rather than taking a group listing (NTR’s shares currently trade on the grey market) would be the preference. Group finance director Michael Walsh said a partial float was still “very much an option” and that the group is “constantly looking at ways to secure liquidity for shareholders”. He added that if such a move was to happen, it would most likely happen some time in 2011.

Meanwhile, NTR has reported a first half operating loss of €64.9 million for the six months to the end of September, up from a €2m operating loss for the same period last year. First half group revenue was down, year-on-year, by 27% at €205.4m. The extended losses were chiefly driven by continued developmental investment in the group’s solar power and wind power subsidiaries.