Hydrodec Group cleans up in 2012

Clean-tech oil re-refining company Hydrodec Group expects revenues to climb following a successful year of trading in the US, it announced Friday.

Clean-tech oil re-refining company Hydrodec Group expects revenues to climb following a successful year of trading in the US, it announced Friday.

The group pegged revenues of $26m for the year ended December 31st, a 16% increase from the comparative period in 2011.

Increased sales volumes of premium quality Superfine transformer oil and base oil were up 11% at 22.5m litres.

It is the eight consecutive year of growth, driven by improvement in US feedstock procurement.

The company's treatment and recovery process for polychlorinated biphenyl contaminated waste oil has gained momentum thanks to endorsement from the US Environmental Protection Agency.

The Australian market proved more challenging, however, due to constrained feedstock availability and market demand.

"Early indications for 2013 are encouraging based on a continuing improvement in US feedstock supply, lower feedstock costs and better sales prices relative to the ICIS market index," the AIM-listed firm said in a statement.

Shares jumped 3.85% to 13.50p at 13:54 Friday.

Hydrodec provides oil re-refining and chemical process technology initially targeted at the multi-billion US market for transformer oil which used by the world's electricity industry.

RD

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021