Hydrogen trading in line with expectation in H1 2019
Hydrogen Group has released an update on trading for the six months ended 30th June 2019.
The Group has continued to trade in line with management's expectations. Net fee income for the period totalled more than £15m. The Group's balance sheet remains strong with net cash at 30th June amounting to £3.4m.
As noted at the Annual General Meeting on 23rd May 2019, the Group's performance in the year to date has been impacted by weaker trading conditions in certain of its APAC businesses and by Brexit related uncertainty dampening demand in the UK. Conversely, the Group's US operations continue to trade strongly. This geographic diversity of global operations is enabling the Group to continue to grow and gives management confidence in its prospects for 2019 and beyond.
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