Energy firm sees losses widen

KEDCO, the Cork-based alternative energy specialist, has reported a widening in full-year losses to €4.53 million.

The AIM-listed “waste- to-energy” group generated revenues of over €11.1m in the 12 months to the end of June. That was up from €9m for the previous year. However, the total loss was also up, from €3.42m in 2010.

Kedco’s earnings per share for the year were unmoved at 2c. The company said until such time as it generates sufficient cashflow from its projects, the preservation of cash and securing additional finance “remain a priority”.