ITM Power (AIM: ITM) – Excellent trading update bodes well for full year financial results
The period has been successful for the company in the negotiation of contracts, resulting in almost £13m of projects currently under contract and a further £2.8m in the final stages of negotiations. As well as expanding on number of projects the Group also managed to reduce costs through manufacturing efficiencies and reducing material costs. ITM’s aim is to become cash flow positive in the shortest period as possible, and by preventing the cost base from rising significantly, despite large increases in revenue, the Group is well on track to achieving their goal.…
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