RESEND: Windflow narrows 1H loss, says new financing needed

Fri, 13 Mar 2015

(Fixes typo in headline) By Suze Metherell March 13 (BusinessDesk) - Windflow Technology, the unprofitable wind turbine manufacturer, narrowed its first-half loss but says it will need to borrow from its shareholders and find new financing to remain a going concern. The Christchurch-based company reported a loss of $2.3 million in the six months ended Dec. 31, compared to a loss of $2.8 million a year earlier, it said in a statement. Operating revenue rose 88 percent to $700,000 while costs of sales increased 51 percent to $783,000....

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