Helius Energy pair in selling mood

Two directors at Helius Energy have sold £1m of shares in the installer of biomass-powered renewable electricity generation plants.

Commercial director Chris Corner made £660,000 from the sale of 2.2m shares at 30p each, while technical director Adrian Bowles offloaded 2m shares at the same price.

Helius shares were as low as 16p at the end of last year and about 20p at the start of April before beginning their rally to almost 35p, reached a month ago.

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In May, the company said it moved into profit in the half year to March 31 after selling its first project to RWE Innogy, the renewable energy arm of the power group RWE.

Profit totalled £19,000, compared with a loss of £1.17m over the same period the previous year, as revenues rose to £554,000 from nil. It earned £500,000 from a transitional services agreement with RWE Innogy.

Corner still has 5.3m shares, or 6.3% of the company, and Bowles over 2m shares, representing 2.4% of the business.

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