Power cuts boost Ellies as shoppers snap up inverters and solar panels
Consumers who are buying up alternative energy products are not as open to generators as they were previously, says small cap group Ellies, as the cost of diesel and petrol to power them is skyrocketing. Instead, they prefer inverters run by batteries or solar power sources.
Ellies, which imports, makes and sells electronic equipment such as aerials, listed on AltX in 2007 before moving to the main board in 2010. It has struggled to maintain profitability over recent years and lost money in its manufacturing business, but is betting on solar power equipment and generator sales to turn its fortunes around...
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