By Iain Gilbert
Date: Monday 18 Feb 2019
LONDON (ShareCast) - (Sharecast News) - Specialty polymer developer Itaconix expects to record a loss following the restructuring of its UK operations during the last trading year.
Itaconix reported revenues of £700,000 for the year ended 31 December, marking a 27% year-on-year increase.
However, Itaconix, which turned in a pre-tax loss of £10.2m in 2017, warned that it was set to record an EBITDA loss in line with expectations for 2018.
Elsewhere, the AIM-listed outfit, which successfully completed the restructuring of its UK operations in 2018, said it had reduced its overall cost base to a rate of £2.1m per year - the same figure as its positive cash balance at year-end.
Chief executive John Shaw said: "We achieved major progress in the second half of 2018 and the start to 2019 with increased revenues, another collaboration with a worldwide leader, and a major reduction in our fixed costs.
"I believe we are well positioned for continued revenue growth in our core markets of non-phosphate detergents, odour control, and hair styling."
As of 1500 GMT, Itaconix shares had sunk 13.43% to 2.90p.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 162.00p |
Change Today | -2.00p |
% Change | -1.22 % |
52 Week High | 263.00 |
52 Week Low | 114.00 |
Volume | 434 |
Shares Issued | 13.49m |
Market Cap | £21.85m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
10:40 | 4 @ 160.00p |
08:31 | 10 @ 164.00p |
08:31 | 420 @ 160.00p |
You are here: research