12th Feb 2015 09:21
LONDON (Alliance News) - Accsys Technologies PLC shares were trading higher on Thursday after the company reported a rise in nine-month revenue as production volumes for its Accoya wood rose over the period.
Accsys, a chemical technology company focused on the acetylation of wood, said its revenue in the nine months to the end of December rose to EUR32.4 million from EUR23 million a year earlier.
Total production volumes of its Accoya wood product rose 43% over the nine months, with wood revenue increasing 42% to EUR28.7 million, driven by a 5% price increase implemented in the third quarter.
The company said its improved sales and profitability provides confidence it will be cashflow positive in the fourth quarter.
Shares in Accsys were up 4.5% to 63.72 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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