Kedco cuts losses and ups revenues

CORK-based alternative energy firm, Kedco has cut its first-half losses in half and upped revenues by nearly 30%.

The AIM-listed Monkstown company – which largely seeks to transform collected waste and regenerate and sell it as electricity power – has reported a pre-tax loss of €1.5 million for the six months to the end of December. This compared favourably to a loss of €3m for the same period in the previous year.

The company also said it had generated additional capital – from institutional investors and the Irish Government – of €3.1m during the year. Total revenue for the half year amounted to €4.2m, up by 28% on a year-on-year basis.