Renewable-energy company Novera Energy Plc (NOEN.L) posted a wider full-year pretax loss on higher costs and said its chief financial officer Rory Quinlan would resign to take up a position at a unit of Westpac Bank (WBC.AX), Australia's second-biggest lender.
For the year to end-December 2008, the company posted a pretax loss of 5.1 million pounds compared with 3.5 million pounds a year ago as administration expenses rose to 4.2 million pounds from 3.5 million pounds. Earnings before interest tax depreciation and amortisation for the year fell 9 percent to 10.3 million pounds due to increased investment in the company's development pipeline, increasing pre-construction expense, it said.
Novera also said it expected increased generation from its wind portfolio in 2009.
The company said it started 2009 with 20 million pounds cash in the bank and with two secure long-term finance facilities in place.
