BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





Quadrise posts loss in annual results

06 Nov 2017 09:50 GMT

UK firm reports GBP 5 million in cash reserves and no debt.



Quadrise Fuels International plc (QFI), the emerging supplier of MSAR emulsion technology and fuel, has posted a loss after tax of GBP 4.1 million for the year ended June 30, 2017.

The after-tax loss was an improvement of GBP 0.7 million on the GBP 4.8 million loss reported a year ago.

As at June 30, QFI had GBP 5.0 million in cash reserves and no debt following a placing in October 2016 which raised GBP 4.0 million, and an open offer in November 2016 which raised a further GBP 1.0 million.

The UK-headquartered company reported cumulative tax losses of GBP 47.3 million - up from last year's figure of GBP 41.1 million - available for set-off against future profits.

Total assets at the end of June were valued at GBP 9.5 million, which includes the Group's MSAR manufacturing facility at the Cepsa refinery in Spain, and further investment in R&D capacity at the Quadrise Research Facility.

As Bunker Index reported in August, QFI has taken steps to reduce expenses, which, according to QFI, collectively amount to savings in excess of GBP 500,000, representing 18 percent of the company's annualised fixed costs.

The cost-cutting initiatives - which are designed to have no adverse impact on Quadrise's operational and business development capabilities - have included reducing the number of executive directors and laboratory personnel, and lowering the chairman's salary and non-executive directors' fees.


Image: Quadrise's MSAR plant at Cepsa's San Roque refinery in Spain. Image credit: Quadrise Fuels International




Related Links:

Quadrise 'knows of no specific reason' for share price drop following rally
Quadrise announces cost-cutting initiatives as chairman slashes salary by 50%
Quadrise receives MSAR trial inspection report
Wartsila confirms 'no detrimental effect' on engine during MSAR fuel trial: Quadrise
Wartsila produces draft MSAR interim LONO: Quadrise

Latest News:

E+H and Sinanju top MFM rankings in Singapore
Petrobras unveils double-hull bunker barge fleet in Santos
Dan-Bunkering announces senior trader promotion
Singapore achieves best 12-month sales figure in its history
Sentek named Singapore's top supplier by sales volume in 2017
Oil and fuel oil hedging market update
Oil continues uptrend despite additional active U.S. oil rigs
Gazpromneft Ocean lubricant brand presented in China
Balearia to showcase fuel-related projects in Madrid
Global Risk Management announces new hire
Global Risk Management forms new board of directors
Brent briefly reached $70 yesterday... the highest since 2014




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events