Itaconix (ITX)

Sector:

Industrial Chemicals

Index:

FTSE AIM All-Share

 145.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 263.00
  • 52 Week Low: 114.00
  • Currency: UK Pounds
  • Shares Issued: 13.49m
  • Volume: 0
  • Market Cap: £19.55m

Itaconix warns on revenue after tough year

By Josh White

Date: Friday 18 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Sustainable specialty polymers company Itaconix updated the market on its trading on Friday, reporting that revenues for the first three quarters of 2019 reached £0.7m, representing a 78% increase over the same period in 2018 and matching full-year revenues then of £0.7m.
The AIM-traded firm said the growth demonstrated the value of its products in detergents, personal care, and odour control.

Its board said it expected second half revenues for the six months ending 31 December would exceed the first half of 2019.

However, as a result of delays in certain customer projects, it added that full-year revenues would be below current market expectations, but still represent a "very significant" increase over 2018 revenues.

The company said it was continuing to have a "strong pipeline" of active customer projects, and was undertaking efforts to accelerate key revenue opportunities, particularly in water treatment and detergents.

As a result of lower-than-expected revenues and also some one-off costs related to new product development, the firm said it expected that the EBITDA loss for the second half of the year would be "broadly in line" with the £1.0m loss for the first half, which would be a "substantial improvement" over the £3.9m EBITDA loss for 2018.

Other than a research and development tax credit of around £0.13m, which was now expected to be received in early 2020 rather than in the current year, the board said it believed that year-end cash would be in line with expectations due to "significant improvements" in working capital utilisation.

"The use of our novel products in an increasing range of end-products is establishing a broad customer base for long-term revenue growth and ultimate profitability," said Itaconix chief executive officer John Shaw.

"While project delays can be rather frustrating, our commercial momentum continues to build, we remain confident about our outlook, and our future remains equally bright."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Itaconix Market Data

Currency UK Pounds
Share Price 145.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 263.00
52 Week Low 114.00
Volume 0
Shares Issued 13.49m
Market Cap £19.55m

Itaconix Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
18.21% below the market average18.21% below the market average18.21% below the market average18.21% below the market average18.21% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
29.58% below the market average29.58% below the market average29.58% below the market average29.58% below the market average29.58% below the market average
17.65% above the sector average17.65% above the sector average17.65% above the sector average17.65% above the sector average17.65% above the sector average
Income Not Available
Growth
50.56% above the market average50.56% above the market average50.56% above the market average50.56% above the market average50.56% above the market average
64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average

Itaconix Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Itaconix Key Personnel

CEO John Shaw
CFO Laura Denner

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