Flowgroup plc Flow Energy update (9388K)
January 06 2016 - 1:00AM
UK Regulatory
TIDMFLOW
RNS Number : 9388K
Flowgroup plc
06 January 2016
06 January 2016
Flowgroup plc
("Flowgroup" or the "Company")
Flow Energy update
Flowgroup plc (AIM: FLOW), which provides a range of innovative
energy technologies, energy supply and energy services, provides an
update on its Flow Energy business. As previously announced on 28
September 2015 in the Company's interim results for the six months
ended 30 June 2015, the Company was targeting 100,000 energy
customer accounts by the end of 2015. The Company is pleased to
announce that this target was exceeded.
The Company expects its preliminary results for the year ended
31 December 2015 to be released in April 2016 and that these
results are expected to be in line with market expectations. On 9
December 2015, the Company was pleased to announce a contract with
Shell for the provision of wholesale energy. As a result, the
Company was able to conclude its previous energy supply agreement
and release cash previously restricted and held as collateral for
energy customers. The resulting closing cash balance as at 31
December 2015 was GBP18.8 million.
The Company also notes that its Flow boiler was launched for
sale earlier this month with customers being able to place orders,
subject to survey, through its Flow Energy website at
www.flowenergy.uk.com. The Company will provide further updates on
its Flow boiler business in due course.
Flowgroup plc www.flowgroup.uk.com
Tony Stiff, Group Chief Executive Tel: +44 (0)20 3137
Officer 4525
Nigel Canham, Chief Financial
Officer
Cenkos Securities plc (NOMAD Tel: +44 (0)20 7397
and Broker) 8900
Stephen Keys / Christopher
Golden (Corporate Finance)
Julian Morse (Sales)
Walbrook PR Ltd (Media Tel: +44 (0)20 7933 8780
Relations) or flowgroup@walbrookpr.com
Paul McManus Mob: +44 (0)7980 541
893
Nick Rome Mob: +44 (0)7748 325
236
This information is provided by RNS
The company news service from the London Stock Exchange
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