- Clean Energy provider Aggregated Micro Power reported narrower earnings losses as out performance in its project development business and continued progress from its investment in IncubEx helped offset ‘very disappointing’ performance in wood fuels amid warmer weather.

For the 12 months ended 31 March, adjusted earnings (EBITDA) loss narrowed to £1.5m from a loss of £3.0m a year earlier, and revenue increased by 14.5% to £49.5m.

‘The challenging year in wood fuels was impacted by the warm weather, rising fibre prices, adverse FX movements and certain loss making fixed price customer contracts,’ the company said.

‘Our project development business has had a very strong year and we have created a market-leading position in flexible generation under the Urban Reserve brand,’ the company added.

The company saw continued significant value from its 29.1% stake in IncubEx with market share in European carbon at 15% benefiting from global growth in environmental markets.

At 9:56am: [LON:AMPH] Aggregated Micro Power Holdings Plc share price was 0p at 73p

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