APR Energy says its operations in Libya continue to run normally, and the company is being paid on schedule.
In Monday’s Interim Management Statement, Laurence Anderson (pictured), Chief Executive Officer, said:
“While conditions in Libya remain challenging, the Group’s Libyan operations continue to run normally and profitably.
“Our customer continues to make payments in accordance with our contract and together with our risk mitigations in place, we feel comfortable with our continuing operation.
“Our plants operate at full baseload capacity and the underlying structural electricity deficit in Libya only grows more acute.
“These factors, together with our strong relationship with our customer, give us confidence that our services will continue to be required into the medium term and we maintain our ongoing commitment to providing much needed electricity to the Libyan people.”
Despite the positive update on Libya, the company’s shares fell 6.6 percent to close at a new low of 369.88 pence on Monday.
(Sources: APR, Yahoo!)
