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Hydrogen equipment maker ITM hails ‘tangible progress’ on recovery

Revenues at UK manufacturer beat expectations after string of profit warnings, The Financial Times reported on 17 August. The Sheffield-based manufacturer of electrolysers used to produce green hydrogen, which is central to global ambitions to cut carbon emissions, generated revenue of £5.2mn in the year to the end of April, ahead of guidance of £2mn.

ITM said it now expected to make revenue of £10mn-£18mn in its 2024 financial year, with an adjusted loss (earnings before interest tax depreciation and amortisation) of £45mn to £55mn. 

ITM shares climbed almost 5 per cent per cent in afternoon trading to 91.46p.

The image courtesy of ITM


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