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22nd May 2008
Highlights
* Guaracachi added 79MW of new gas fired capacity in Bolivia - a 25% increase in 12 months
* 160 MW of new combined cycle projects in Argentina and Bolivia under development and financed during the year
* Group turnover in year to 31 December 2007 - £22.6m
* Operating profit - £2.3m, Guaracachi contribution increases to £3.4m
* Net Asset Value per share 47p at 31.12.07
* Dividend of 2.5p per share proposed, an increase of 11 per cent.
Post year end highlights
* Approval and registration of 148,019 tonnes per year of C02 reductions in the form of CER for EdS
* Preliminary agreement with BNP Paribas for a forward purchase of CERs for the life of the Kyoto Protocol
Jimmy West, Chairman, said:
'2007 was a year of considerable progress for Rurelec. Our operating subsidiaries have been able to make solid progress which will underpin future earnings. The markets in which we operate have continued to grow over the past year and are expected to continue to do so and the Board is confident that the Group will be in a position to reap the benefits of growth over the coming years.'
For further information please contact:
Peter Earl, CEO, Rurelec PLC
020 7793 5610
Paul Shackleton, Daniel Stewart
020 7776 6550
Ana Ribeiro, Parkgreen Communications
020 7851 7480
Download full RNS Announcement here