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Interim Results

Torotrak substantially widens H1 pretax loss

26 November 2015 07:45

Torotrak has substantially widened its H1 pretax loss to GBP9.8m, from GBP3.8m. Revenue was down to GBP1.2m, from GBP1.6m. The results included a GBP6.0m charge for exceptional items, from GBP93,000.

Chairman Nick Barter said:

"The main bus and off-highway KERS programmes remain on track to meet the technical and commercial targets required to achieve commercial launch in collaboration with our Tier 1 partner.

"On V-Charge, the initial results from on-engine testing conducted by the University of Bath confirm the simulated improvements in fuel efficiency and performance. Discussions with potential Tier 1 licensees across our technology portfolio continue to move forward.

"Overall we are on track to deliver our plans as laid out in the Prospectus issued in June 2015."

Story provided by StockMarketWire.com

Related Company: TRK

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