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Rurelec Says Unaware Of Reason For Surge In Share Price

Wed, 19th Aug 2020 16:15

(Alliance News) - Rurelec PLC on Wednesday said it is not aware of a reason for the increase in its share price from 0.60 pence at close on Tuesday, adding that the Covid-19 pandemic has not had a negative impact on its operations.

Shares in the power plant developer were trading 100% higher at 1.20p each on Wednesday afternoon in London. At its peak on Wednesday, shares were trading at 1.90p each.

Rurelec highlighted that the pandemic has not hurt its operations. It added that output and profitability to the end of April are in line with expectations, while cash remittances are above forecasts for the year to date and higher than for the same period in 2019.

By Ife Taiwo; ifetaiwo@alliancenews.com

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