Date: Wednesday 08 Jan 2014
LONDON (ShareCast) - Radiation detection technology researcher and developer Kromek Group unveiled reduced losses and tripled revenue in its half year results on Wednesday.
The share price inched higher after the announcement of the results, which revealed a pre-tax loss of £2.48m (2012 H1: £2.29m), an operating loss of £1.97m (2012 H1: £2.27m) and revenue of £2.37m (2012 H1: £0.71m).
The latter was driven by the acquisition of eV Products and strong customer demand in all of the group's three target sectors.
Basic losses per share narrowed to 0.02p from 0.24p a year earlier.
Chief Executive Arnab Basu said: "Kromek is currently growing strongly as we enter the rapid commercialisation phase of our business, utilising our powerful IP and technology platforms. The strong increase in sales of the Bottle Scanner and a program worth up to $5.3m in medical imaging are good examples of this commercialisation phase in action.
"Having completed a successful initial public offering (IPO) during the period, we are also now in a stronger financial position as we look to grow our business. We have seen encouraging take-up of our products in all of our three target sectors and are confident about the future prospects of the business."
The group also described its prospects as "very positive", with funding at the best level in the company's history as a result of the IPO, and demand for its technology platforms continuing to grow.
NR
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Currency | UK Pounds |
Share Price | 7.85p |
Change Today | 0.100p |
% Change | 1.29 % |
52 Week High | 8.20 |
52 Week Low | 3.25 |
Volume | 1,451,818 |
Shares Issued | 641.02m |
Market Cap | £50.32m |
RiskGrade | 527 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:25 | 15,361 @ 8.14p |
16:13 | 18,342 @ 8.14p |
16:08 | 100,000 @ 7.73p |
15:52 | 32,000 @ 7.81p |
15:46 | 349 @ 7.52p |
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