Source - SMW
First half revenues at Green & Smart Holdings rose by 18% to RM25.8m in the six months to the end of March and the group also announced it had completed commissioning of second fully-owned biogas power plant in Malaysia.

Gross profits rose to RM6.9m (H1 2016: RM6.7m) but profit before tax fell to RM3.8m  from RM4.8m last time.

Chief executive Saravanan Rasaratnam said: "During the first half of the year, the group continued to execute on its strategy to generate power from biogas captured through the treatment of POME in Malaysia. 

"The group advanced its projects under EPCC contracts resulting in higher revenues than in the equivalent period last year. 

"Our first fully-owned biogas power plant, Kahang, is now able to sell power to the national utility at the full tariff rate and our second fully-owned plant, Malpom, has now been commissioned.

"We continue to make progress with the development of our pipeline of wholly-owned and associated projects. Green & Smart anticipates the completion of more EPCC contracts in the second half and our fully-owned biogas power plants will continue to provide power to the grid. 

"We remain one of the few fully-integrated providers and operators of biogas plants in Malaysia at a time when government regulation requires all palm oil mill operators to install biogas plants to capture greenhouse gases in the form of methane that would otherwise be released into the atmosphere. 

"As a result, the board looks to the future with confidence."






At 9:05am: (LON:GSH) Green  Smart Holdings Plc Ord Npv share price was 0p at 9.38p