ERT - Environmental Recycling Technologies plc

News Archive

29 June 2010

Preliminary Results for the year ended 31 December 2009

Environmental Recycling Technologies plc ("ERT" or the "Company") (AIM: ENRT), which has developed and is exploiting the patented rights to the Powder Impression Moulding ("PIM") process capable of converting mixed waste plastics into commercially viable products, announces its preliminary results for the year ended 31 December 2009

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Highlights

  • The Company is now operating completely under an out-licensing business model
           - significant reduction in overhead and costs as a result
  • Worldwide Master Flat Sheet licence agreement signed with 2k Manufacturing Ltd
  • Revenue and other income £1.21 million (2008: £1.35 million)
  • Loss on operations £3.55 million (2008: £2.75 million)
  • Loss attributable to equity shareholders £4.65 million (2008: £3.18 million)
  • Enquiry levels  continue to escalate and are expected to result in further licences to be granted for specific product areas
  • Long running litigation settled

 

Enquiries:

Environmental Recycling Technologies Plc  
Ken Brooks (Chairman) 01993 779 468
David Shepley-Cuthbert (Finance Director)  
   
Evolution Securities (Nominated Adviser)  
Tim Worlledge 0207 071 4300
Bobbie Hilliam  

 

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