Carnegie Clean Energy Limited
(ASX:CCE) has announced its revenue from ordinary activities rose to $1.279 million while its net profit/loss fell for the six months to 31 December 2016.
The renewable energy group reported a net loss of $7.833 million, which was drop of 34.71% from the prior corresponding period.
In the six months to 31 December 2016, the group acquired 65% of solar/battery project company, Energy Made Clean, taking its stake in the company to 100%. The transaction contributed a $3.68 million accounting loss to Carnegie's results.
The company also established a 50/50 joint venture with LendLease Services
(ASX:LLC) to deploy solar battery projects around Australia.
As a result of the loss, the group will not declare a dividend for the period.
