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Bion cuts half-yearly losses as revenue jumps on new business wins

By BFN News | 09:28 AM | Monday 26 October, 2020


Renewable energy solutions company Bion reported narrower first-half losses as the revenue jumped on engineering, procurement, construction and commissioning, or EPCC contract wins. For the six months ended 30 June 2020, pre-tax losses were reduced to RM2.7m from RM4.4m loss a year earlier as revenue increased to RM27.2m from RM1.9m. The company completed its EPCC projects to 'ensure a significant increase in revenue over the first half of last year, despite COVID-19 and the public lockdown,' Bion said. 'Our focus is now on commencing commercial operations at our two new plants, which, subject to receiving regulatory approval, we expect to achieve by year end,' it added. At 9:28am: (LON:BION) share price was +0.1p at 2.6p Story provided by StockMarketWire.com

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