Hydrodec sales hit record in October

12th Dec 2016 12:14

(ShareCast News) - Hydrodec, an AIM listed clean-tech oil re-refining group, has delivered record sales of re-refined oil from Canton in October for over 2.8m litres, exceeding daily production records on two separate days in the month.The group reported positive earnings before interest, tax, depreciation and amortisation (EBITDA)during the month, for the first time since re-establishing the Canton plant after its rebuild last year.It has also delivered record sales of re-refined oil from Canton during the month for over 2.8m litres as well as exceeding daily production records on two separate days in the same month.Chief Executive Chris Ellis said: "We continued to make strong progress towards positive Group EBITDA in the second half of the year, and it is pleasing to be able report that this key performance indicator (KPI) was met for the month of October. Challenges remain in the current market environment to both improve margins and create consistent performance going forwards, but this is an important milestone on the path to establishing a profitable operation in 2017."The share price rose 5% to 2.10p at 1506 GMT on Monday.