Financial Informations

 

Annual Report of Proton Power Systems PLC 2007 (PDF document, 1.6 MB, 66 pages)

Interim Results of Proton Power Systems PLC 30 June 2007 (PDF document, 139kB, 13 pages)

Annual Report of Proton Power Systems PLC 2006 (PDF document, 400kB, 65 pages)

Financial Overview of Proton Power Systems PLC 2006 (PDF document, 300kB, 15 pages)

Proton Power Systems plc (AIM: PPS), a leading designer, developer and producer of fuel cells and fuel cell electric hybrid systems for the "back to base" market, announces its final audited results for the year ended 31 December 2007.

 

Highlights

 

·     

  • Turnover increased by 74% to £661,000 (2006: £490,000 excluding the £576,000 "one off" licence fee income from L3 Communications, USA)

·      

  • Incurred a net loss of £2.369m (2006: £1.8m)

·      

  • Completed Placing to raise £3.0million (before expenses)

·      

  • Secured milestone orders for fuel cell hybrid systems (passenger ferry for the City of Hamburg, City Bus for Prague and street cleaning vehicle in Switzerland)

·      

  • Secured memorandum of understanding with Wilhelm Karmann GmbH, a leading worldwide supplier of full-service vehicles

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  • Jointly presented, with Karmann, the first prototype of a range of zero-emission, light-duty commercial vehicles at the largest industry fair in Hanover

·      

  • Signed a framework contract for hybrid system and related diagnostic technology with AVL, one of the largest Austrian automotive engineering companies

·      

  • Unveiled the world’s first triple-hybrid forklift system

·      

  • Appointed Achim Loecher as Finance Director

·      

  • Established an after-sales division, to generate recurring revenue from servicing and spare parts activities

 

 

John Wall, Executive Chairman, commented on the results: "We are delighted with securing £3 million, before expenses, to take the Group to the next level. Although we will need to secure further capital at a later date, the Placing has put us in a favourable position for future growth. Proton is well placed to benefit from the ever-increasing price of oil and will be capitalising on the opportunities this will bring. We continue to review cost saving measures and look forward to announcing good news for the future."

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