Gross loss
Apr 4, 2013
Bishop Hill in Energy: biofuels

Further to yesterday's posting about the Ensus factory I have got hold of a set of the company's accounts.

Rather remarkably, they do not appear to have managed to make a gross profit yet, let alone a net one (although in fairness last year they posted a net profit due to a financial restructuring). It appears that the biofuels business is a bit of a financial black hole.

Now if you were the owners of a £100m biofuels plant that was haemorrhaging money and had the prospect of a long shutdown ahead of it, what would you do?

That's right, lobby the government for "support". I wonder how many meetings Ensus and its owners have had at DECC. And I wonder what effect the House of Commons recent look at the subject will have.

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