Windflow Technology posts wider 1H loss, needs more capital

Wed, 15 Mar 2017

By Tina Morrison March 16 (BusinessDesk) - Windflow Technology, the unprofitable wind turbine manufacturer, widened its first-half loss and said it needs new injections of capital. The Christchurch-based company reported a loss of $1.5 million in the six months ended Dec. 31, compared to a loss of $798,000 a year earlier, it said in a statement. Operating revenue rose to $2.9 million from $953,000, while cost of sales jumped to $2.2 million from $173,000. Windflow Technology is reducing its activity in the UK, its largest market, to th...

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