Renergen trading statement for year ended 29 February 2024

Renergen Limited (ASX: $RLT) has released a trading statement for the year ended 29 February 2024, indicating a substantial expected increase in the loss per share compared to the prior reporting period. The company's Chief Executive Officer, Stefano Marani, has highlighted that the anticipated loss per share is between 72.8 and 76.7 cents per share, in contrast to the previous period's 19.86 cents per share.

Renergen CEO's perspective on the trading statement

The increase in the loss and headline loss per share is primarily attributable to the prolonged downtime experienced during the maintenance cycle. We are actively addressing the challenges and remain committed to our long-term strategic objectives. The financial information on which this trading statement is based has not been reviewed or reported on by the auditor of the Company.

Summary of Renergen's trading statement and outlook

Renergen Limited (ASX: $RLT) has issued a trading statement for the year ended 29 February 2024, indicating a significant expected increase in the loss per share compared to the prior reporting period, primarily due to prolonged maintenance downtime. The company's Chief Executive Officer, Stefano Marani, emphasized the commitment to addressing the challenges and pursuing the long-term strategic objectives. It is important to note that the financial information on which this trading statement is based has not been reviewed or reported on by the auditor of the Company. Renergen's outlook involves addressing the operational challenges and maintaining focus on its strategic goals.