Results Round-up

React Energy has reported an increase in losses as it continues to try to raise capital.

The Ireland-based energy infrastructure company on Wednesday published both its full-year results for the year to 30 June 2014 and its half-year results for the six months to 31 December 2014.

Full-year losses before tax jumped to €15.2m for the year to 30 June 2014 from €2.6m previously, while revenues fell to €650,029 from €2.66m.

Losses continued to widen during the first half ended 31 December 2014, rising 53.7% to €1.3m. However, revenues rose to €153,985 from €36,267.

React said 2014 was a very difficult time for the group with "incorrect and financially damaging" technology choices in its biomass projects, it said.

Agricultural product supplier Wynnstay lifted pre-tax profit 2.55% from £4.7m to £4.82m, despite tough conditions for farmers.

The company said earnings per share are up 4.38% from 19.41p to 20.26p in its half year result on Monday.

Half year revenues declined about 10% from £222.49m to £200.56m, affected by commodity price deflation, the company said.
The board proposed an interim dividend of 3.7p, an increase of 8.8% on last year’s 3.4p dividend.

The company said both adverse weather conditions and downward pressure on farm gate prices had made trading conditions difficult for farmers.