GTL Resources PLC ("GTL") Provided Business Update At Annual Shareholder Meeting
28 Setembro 2011 - 10:45AM
PR Newswire (US)
CHICAGO, Sept. 28, 2011 /PRNewswire/ -- GTL Resources PLC
(AIM: GTL) today conducted its annual meeting in London, England and commented on the state of
its business. Julia Henderson, the
non-executive chairman of the U.S. based bio-refining company,
commented on year-to-date trends and reaffirmed the current
business approach:
- "GTL is pleased to report that margins are in line with
expectations and in the six month period ending September 30, 2011 closely tracked the seasonal
margins for the same six month periods in the previous two
years.
- Although upcoming industry margins may have some temporary
volatility due to the anticipated December
31, 2011 expiration of the ethanol blender's credit, we
continue to believe in the long- term strength of the ethanol
industry.
- Over the course of 2012, we expect that the 13.2 billion
corn-based ethanol gallons mandated by RFS2 (up by 0.6 billion
gallons over 2011), the steadily growing amount of US ethanol
exports, and the gradual introduction of 15% ethanol blends for
newer model cars in the US (up from 10% allowable today) together
will all have a positive impact on industry demand. These favorable
demand factors should continue to support industry margins.
GTL's management team continues to improve operations and
remains committed to optimizing financial results and shareholder
value. We are in the early years of understanding the full
potential of a vertically integrated bio-refining company so our
early success has us excited for the future."
GTL expects to formally release first half earnings in
approximately 7 weeks.
Contact: Richard Ruebe,
1-630-773-1226
SOURCE GTL Resources PLC
Copyright 2011 PR Newswire
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