Sales soar at Ceramic Fuel Cells, losses widen

Sales at low emission power products developer Ceramic Fuel Cells surged by 81% during the 12 months ended 30 June, but losses widened as operating expenses were increased.

Revenues jumped from...

A$2.03m (£1.3m) to A$3.68m (£2.4m). The group said that revenues were derived mainly from the sales of small-scale generator BlueGen and micro Combined Heat and Power (mCHP) units, as opposed to the prior year when the majority of revenues came from development agreement payments from partners.

The firm saw shares jump 10% on Thursday after it hailed a "significant step forward" for UK sales of BlueGen after the product received Microgeneration Certification Scheme (MCS) accreditation in the UK, meaning its customers can benefit from the government's feed-in tariff scheme.

Meanwhile, pre-tax loss increased from A$19.65m to A$21.18m due to higher expenses in research & product development (R&PD), general & administration. R&PD costs increased due to the higher manufactured costs of more units sold during the period.

Loss per share fell to 1.82 cents (1.13p), from 1.91 cents (1.19p) the year before, due to the increased number of shares.