Companies: HYR   

It is all moving in the right direction for HydroDec, the recycler of spent transformer oils, but at a pace that fails to impress the market. Sales of the company’s Superfine oil rose by two-thirds in the six months to the end of June to £690,000, but the operating loss actually rose a touch, to £1.17 million. The company is working hard at putting a US facility in place at Canton, Ohio, to match its Australian facility, where offtake now tops 50 per cent of capacity and should reach 75 per cent soon. Plans for a second US plant, in the state of Mississippi, are also being discussed.

Having raised £2.3 million in a placing in June, HydroDec should not be troubled by the current hiatus in fundraisings. The shares have come back from a 33.75p recommendation level in March last year to just 19.25p now. The time to average down may not be far away. Hold.

HydroDec Group	AIM	£67.45m	30.50p	1.00p
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Other company articles:
Verification cheers Hydrodec			12/09/2008
Compressor tech play adds numbers man			01/04/2008
Hydrodec breaks into big Turkish market			09/11/2007
Hydrodec wins Turkish order			08/11/2007
HydroDec sees rising sales volumes			07/09/2007