Aggregated Micro Power notes transformational year

Aggregated Micro Power Holdings (AMPH) said the acquisition of three fuels businesses made for a transformational year at the company.

In a pre-close trading update, AMPH said the acquisitions would see further turnover growth next year, reflecting a full year's trading.

"At the same time, (special purpose vehicle) AMPIL funds under management have grown to £36m comprising operational boilers, in-development peaking plant assets and other biomass assets on long term contracts," said chief executive Richard Burrell.

"AMPH has a growing pipeline of new project developments which should continue to generate upfront development fees as well as deferred development fees in subsequent years and hence we look forward to the future with confidence," said Burrell.

AMPH said it would report revenues in excess of the £15m target.

At 13:36 BST, shares in AMPH were up 0.62% to 81.5p each.