Shares in Carbon Conscious Limited (ASX:CCF) surged more than 46 per cent yesterday after the carbon offset supplier forecast a 309 per cent increase in its full year net profit.
Carbon Conscious expects to deliver a net profit of $3.5 million in fiscal 2012 which represents earnings per share of 4 cents, based on forecast sales revenue of $16 million and EBITDA of $4.6 million.
By fiscal 2014 Carbon Conscious is targeting a net profit of $23 million.
The company has been given a boost by the federal government’s Clean Energy Act, or carbon tax, which will be implemented from the July 1, 2012.
Yesterday shares in Carbon Conscious surged 46.15 per cent, closing at $0.285.
In the year ended on June 30, 2011 Carbon Conscious reported a net profit of $854,000