Mast Energy Developments PLC - developer of reserve power generation plants - Reports that first refurbished 2.7-megawatt generator set, or genset, at its Pyebridge flexible power plant generated revenue amounting to £66,000 in July, up 16% from £57,000 previously reported following receipt of imbedded benefits. Preliminary revenue for August is £46,000 before receipt of imbedded benefits.
‘We are very pleased with the ongoing performance of Pyebridge’s first 2.7MW refurbished genset. Not only have we seen a 16% increase in July’s final revenue tally, we have also seen a marked improvement in the gross profit margin and market outperformance. We expect Pyebridge’s performance to improve as we grow the generating capacity,’ Chief Executive Officer Pieter Krugel says.
Kibo Energy PLC holds a 55% stake in Mast Energy.
Current Mast stock price in London: 0.16 pence, down 2.3% Thursday midday
12-month change: down 91%
Current Kibo stock price in London: 0.012p
12-month change: down 77%
Shares are suspended from trading at the Johannesburg Stock Exchange
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