Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
i(x) Net Zero PLC on Tuesday reported it swung to a loss in 2022 from a profit a year prior, as its net changes in fair value on financial assets were significantly lower than in 2021.
i(x) Net Zero is an investment company focusing on energy transition and sustainability in the built environment. It said its pretax loss was £6.9 million in 2022, compared to a profit of £36.0 million a year ago.
Net changes in fair value on financial assessments stood at £1.4 million, down sharply from £40.9 million. Meanwhile, general and administrative expenses increased to £8.2 million from £4.8 million.
i(x) Net Zero noted challenges in the regional banking market in the US.
Looking ahead, the company is optimistic, emphasising the US’s Inflation Reduction Act of 2022 which targets tackling climate change.
i(x) Net Zero shares were flat at 11.50 pence each on Tuesday late morning in London.
Copyright 2023 Alliance News Ltd. All Rights Reserved.