Bought into this on a recommendation ages ago,never been upto much but a good increase today with some good news,,any thoughts??

Mark

Alkane sees early move into profits despite 19.7m charge
AFX
Recent acquisition Pro2 delivering but writedown badly hurts full year figures

Alkane Energy PLC said the acquisition of Pro2 in 2003 and thus entry into the European green energy market is proving to be a prudent decision and the group now anticipates an earlier move into profit.

Alkane's results for 2003 reflected the inclusion of Pro2 Anlagentechnik GmbH, with turnover jumping to 7.27 mln stg from 995,000 stg a year earlier and gross profit of 2.35 mln stg, up from 105,000 stg.

The write-down of assets during the year gave rise to an exceptional charge of 19.67 mln stg and the group's loss before tax was 20.7 mln, compared with a loss of 567,000 stg for 2002.

Its shares slumped 12.7% to 12p.