Powerhouse narrows losses despite lower first-half revenue

Powerhouse Energy ($PHE)’s first-half pre-tax loss narrowed to approximately £911,000 from £1.84 million. Revenue was £437,055, down from £474,879, while gross profit increased to £199,854 from £166,207. The improvement in reported losses included a lower share-based payment burden, so it should not be treated entirely as an improvement in cash trading.

Cash stood at approximately £1.42 million after £1.3 million of funding raised during the period. The company continued advancing its waste-to-energy development opportunities, but planning, feedstock supply, offtake and financing requirements remain relevant to project execution. Its long-term framework arrangements are not equivalent to unconditional plant orders. The results show reduced losses and improved gross profitability, rather than a completed transition to commercial-scale project earnings.

Sources:

• Powerhouse Energy — half-year financial report, RNS