AFC Energy Plc (AFC.L), a provider of hydrogen energy solutions, Tuesday reported a loss before tax of 9.46 million pounds for the first half, wider than 8.02 million pounds loss in the same period a year ago.
Separately, AFC Energy today said its Chief Executive Officer Adam Bond has decided to step down form the post. Gary Bullard, non-executive Chairman will become executive Chairman until a replacement to CEO is found, the company said in a statement.
Operating loss was 9.55 million pounds, higher than 8.16 million pounds in the prior year.
Net loss increased to 8.32 million pounds or 1.11p per share from loss of 6.25 million pounds or 0.85p per share last year.
Revenue, however, increased to 408,000 pounds from 201,000 pounds in the previous year.
Looking ahead, the company said it sees continued revenue growth in the second half through further sales to Speedy Hydrogen Solutions (SHS). The company had received first order from SHS, for 2.0 million ponds. First sales to SHS were of 0.4 million pounds.
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