Intelligent Energy books wider FY after-tax loss

21st Nov 2016 14:27

(ShareCast News) - Energy technology group Intelligent Energy has recorded a full-year after-tax loss of £82.7m, from a year-earlier loss of £42.8m.The result was weighed down by a £51.3m impairment of an exceptional item, versus nil in the comparative period.Revenue was £91.8m, from £78.2m.Chief executive Martin Bloom said the company now had the technology, people and know-how to deliver future growth for the core fuel cell business, so the next steps are all about commercialisation."My objective is to prioritise delivering revenues and building the business. The revised strategy is all about outcomes, especially commercial outcomes," he added.At about 14:24 GMT, shares in Intelligent Energy were down 13.72% to 11p each.