TEG says 2013 outlook positive
The AIM-listed green technology company develops and operates organic composting and energy plants said it finished the year with a strong cash position and a low level of borrowings.
"The Board believes that the outlook for the Company in 2013 is positive," the company said in a statement.
Trading at TEG's own facilities in 2012 was strong and exceeded Board expectations. The Company has again processed a record volume of waste during the period and both revenues and profitability have increased markedly.
The Perth AD plant was successfully commissioned in the first half of the year and the plant has operated well throughout the period, generating power since April 2012.
"Overall, the trading performance for the business improved substantially in the second half of the year with both the operational and projects elements of the business performing well. The Company finished the year with a strong cash position and a low level of borrowings."
At 8:50am: [LON:TEG] Teather & Greenwood Holdings share price was +0.75p at 5.25p
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